TrustBIX Collaborates with InnoBlock to Create Supply Chain Traceability Solutions for the Asian Market Using Blockchain

TrustBix signed on a memorandum of understandingwith Hong Kong-based InnoBlock Technology Limited 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 implements blockchain technology and Artificial Intelligence (AI) to increase efficiency and transparency in various industries. TrustBIX  provides agri-food traceability with its proprietary platform, BIX (Business infoXchange System), creating trust without compromising privacy through innovative use of data and technology.

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.

“We are thrilled to be working with a partner that brings both great technology expertise and connections in Asia”

– Hubert Lau, TrustBIX CEO

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.