HPT Utilizing KardiaChain Blockchain for Improving Supply Chain Product
KardiaChain is one step closer to mass adoption by working together with enterprises in Vietnam to bring blockchain technology as innovative solutions for problems that cannot be solved by existing systems. KardiaChain team is pleased to announce the technology collaboration with an ICT enterprise in Vietnam, HPT Vietnam Corporation, to integrate Kardiachain blockchain technology to the existing services and solutions that HPT is offering to B2B and B2C clients.
HPT Vietnam Corporation is a Science and Technology Enterprise with 25 years of experience providing the most advanced ICT technologies, services, consultancy, and industry solutions for clients in Vietnam and worldwide, including Prudential, VinGroup, Viettel, major credit unions and banks in Vietnam. Also, HPT is a strategic partner of many leading software companies, e.g. Microsoft, Cisco, IBM, Oracle, and HP.
The technology collaboration between KardiaChain and HPT pushes the adoption of blockchain technology. With the capability of processing more than 6000 TPS, having extremely low transaction fees, compatibility with other blockchains, decentralized, transparent, and fully traceable, KardiaChain network is the best fit for the technology integration with HPT’s services and solutions. Many IT services could benefit from this technology integration, including Supply Chain Management, Product/Manufacturing Traceability, Healthcare, Record Management, and Identity Management. Some of the benefits include:
- Raw materials, intermediate products, and final product information in all stages from beginning to end will be stored in KardiaChain network forever.
- All transactions are transparent and traceable for customers.
- The cost for each transaction is extremely low.
- KardiaChain network is a distributed and fully decentralized system that eliminates the down server incident which is the biggest issue of an IT company.
Understanding how a product originated is gradually becoming a standard in modern-day consumerism. Such knowledge would provide assurance, trust, and future re-purchasing or long-term investments from the customer’s perspective. As blockchain technology is an archive of transactions and records, product origin and movement progress could be better tracked and identified. Understanding origin traceability is proven to be an economical method to focus resources in the supply chain.
— — — — — — — — — — — —
Why is it an opportunity?
E.g. Logistics and Supply Use case
- POTENTIAL LOCAL MARKET SIZE AND GROWTH
Gartner, Inc. (NYSE: IT) Predicts 20% of Top Global Grocers by revenue Will Use Blockchain for Food Safety and Traceability to create visibility to production, quality and freshness by 2025
The global logistics market is forecast to grow at reach US $15.5 trillion by 2024, nearly double the figure of US $8.2 trillion in 2016.
It is expected that Vietnam’s freight and logistics market will reach US $ 113.32 billion by 2022, with a CARG of 16.56%. (Viracresearch, 2020), 16.65% until 2023 and an average 13% during the forecast period (2021–2026).
According to the World Bank Report in 2018, Vietnam is in the top 10 of developing countries which has significantly improved its performance over the past few years from the 53rd ranking in 2012 to the 39th ranking out of 160 countries in 2018.
2. IT NEEDS BLOCKCHAIN
A noticeable one is the logistics costs in Vietnam are relatively high, accounting for 20–25%(VietnamCredit, 2020). Logistics costs are 6 to 12 percent higher than that of Thailand, China, and Malaysia. These high costs may affect the manufacturing sector’s competitiveness to import raw materials and export finished goods. (https://www.vietnam-briefing.com/, 2020)
Blockchain efforts, with the presence of KardiaChain will result in a significant decrease in logistics costs, hence push revenue. KardiaChain network is 10,000–100,000 times cheaper than Ethereum, with 5s confirmation time, which will dramatically help HTP to excel at what they’re good at!
HTP was founded in 1993 and has over 25 years of experience in the ICT field on an international level. HTP’s mission is to provide practical and advanced technological solutions for all parties. HTP has partnerships with multiple households in the technology field such as Microsoft, IBM, Cisco, and Oracle. Kardiachain aims to establish a strategic partnership with HTP to apply blockchain technology with HTP resources to explore further potential possibilities in product origin traceability.