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TrustBIX Collaborates with InnoBlock to Create Supply Chain Traceability Solutions for the Asian Market Using Blockchain
Edmonton, Alberta--(Newsfile Corp. - March 30, 2021) - TrustBIX Inc. (TSXV: TBIX) (" TrustBIX ...
About this update from Trustbix, Inc.
[{"type":"text","content":"TrustBIX Collaborates with InnoBlock to Create Supply Chain Traceability Solutions for the Asian Market Using BlockchainEdmonton, Alberta--(Newsfile Corp. - March 30, 2021) - TrustBIX Inc. (TSXV: TBIX) (\"TrustBIX\" or the \"Company\") is pleased to announce that it signed on March 30 2021 a Memorandum of Understanding (MOU) with Hong Kong-based InnoBlock Technology Limited (\"InnoBlock\") where both parties will work on integrating their respective technology platforms to support supply chain traceability opportunities in a variety of markets in Asia.InnoBlock has developed a track-and-trace blockchain platform called TT Chain based on the Hyperledger fabric. This platform will interact with the Company's BIX Software-as-a-Service (SaaS) platform and provide customers with immutable records of attributes associated with products shipped through the supply chain, customized disclosure management through permissions and configurations, and support for labelling of retail products through creation of QR codes which, when accessed by the customer, reference key attributes about the products sold.Initial work by TrustBIX and InnoBlock will support the creation of a premium beef supply chain from Canada to Asia, building on the Company's previous press release announcements from November 2020.\"We are thrilled to be working with a partner that brings both great technology expertise and connections in Asia,\" said Hubert Lau, TrustBIX CEO. \"This collaboration will reduce time-to-market and deliver enhanced capabilities in our solution.\"\"InnoBlock is delighted to partner with TrustBIX to make TT Chain a global end-to-end traceability platform. We are very excited to bring blockchain technology to the supply chain industry to increase transparency and build consumer and participant trust,\" says Kevin Ng, CEO of InnoBlock.The MoU has an initial twelve-month term but is renewable.About InnoBlock Technology LimitedInnoBlock, a member company of Incu-Tech Programme under Hong Kong Science and Technology Park and I&T supplier of the Smart Government Innovation Lab under Office of the Government Chief Information Officer (OGCIO), is a company with the vision to implement blockchain technology and Artificial Intelligence (AI) to increase efficiency and transparency in various industries. The InnoBlock team has a vast amount of experien...