An emerging development technology corporation and master licensor of Hyperledger blockchain-based systems, Pacific Software, Inc. (OTC: PFSF) is currently working on a proprietary e-commerce trade platform targeting both the business-to-business and business-to-consumer sectors. The platform, set to launch in November of this year, will initially focus on the agricultural supply chain between China and Brazil, which primarily facilitates beef trade between the two countries, and integrating with international distribution channels (http://ccw.fm/yc5Qf).
By integrating the company’s Agri-Blockchain technology, the platform will offer increased transparency and trust regarding origin, quality and safety of products in the supply chain. This will also help speed up removal of contaminated food, making it easier to trace the source of contamination, thus reducing costs exponentially. Using IBM’s Hyperledger Blockchain “Backend as a Service” infrastructure, Pacific Software’s platform will be able to store, record and track digital product information from farm to fare, including batch identification numbers, expiration dates, factory and processing information, shipping details and more.
To further enhance transparency of supply chains, Pacific Software is working on integrating Internet of Things capabilities into the platform – more specifically the ability to incorporate data from Internet-connected devices such as RFID or barcode readers. By linking to the Internet of Things, the platform will be able to gather valuable product data and make complex supply chains more manageable and overall safer.
The blockchain-platform could be used successfully to track supply chains in any field of agriculture, as a growing number of agricultural sectors are already beginning to consider the benefits of blockchain applications for enhanced transparency and increased customer trust. The U.S. Dairy Farmers of America, a farmer-owned cooperative with more than 14,500 members, announced recently (http://ccw.fm/zSHi1) that it would be using a blockchain platform to track milk products so as to give “consumers real-time data, which can really help increase trust and confidence about food production from start to finish.”
Pacific Software’s multilingual platform is developed by Cobalt 47 Technologies Ltd., a spin-off of leading Chinese Microsoft distributor KBQuest Group, Inc., under an agreement signed in August of this year. While the primary focus remains trade and supply chains between Brazil and China, the technology could have a much wider application in industries where effective product tracking methods and supply chain management are required, such as the cannabis market – to improve seed-to-sale supply chain traceability and management – and opioid/controlled substance management – to create a verifiable and trusted ledger between manufacturers and consumers.
With the drug supply chain in particular, the Pacific Software platform could prove to be a valuable tool in combating the current opioid epidemic, which is estimated to have cost the U.S. more than a trillion dollars since 2001 (http://ccw.fm/Vkx8k). The Hyperledger blockchain system would allow for better bookkeeping, which would help track drugs from production to final use, helping identify pill mills that overprescribe painkillers or cases of double doctoring where patients take out prescription from different doctors.
Pacific Software is already considering the potential impact of blockchain technology in this field by assessing how its platform could help struggling African countries deal with counterfeit drugs and medications. The issue was discussed during a recent meeting between company officials and representatives of the African Chamber of Commerce focused on building a partnership for trade.
For more information, visit the company’s website at www.PacificSoftwareInc.com
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