BANGALORE, India – A division of professional services firm Deloitte, one of the “Big Four” accounting firms, will use the Polkadot-based Kilt blockchain to offer logistics and supply chain services aimed at the shipping sector.
Ingo Rube, founder of the KILT Protocol, told CoinDesk in a fireside chat at the India Blockchain Week conference that Deloitte is partnering with Nexxiot, a supply chain technology company, to offer a new type of logistics service called KYX .
KYX is a combination of Know Your Client (KYC) and Know Your Cargo – two processes that identify and verify the identity of the customer and the goods shipped respectively. This system is built on the Kilt network.
“By using decentralized and open source solutions ‘Built on KILT’, any entity can create a service built on a blockchain, without having to deal with cryptocurrencies or need blockchain experience,” Rube said in a declaration.
Shipping giant Hapag-Lloyd will be the first to implement KYX, followed by telecommunications giant Vodafone. Hapag-Lloyd would equip about 1.5 million containers with devices that can be traced to show they are safe and have not been opened.
KILT Protocol’s native kilt tokens (KILT) are up 2.5% in the last 24 hours, data shows.