SINGAPORE – 8 October 2019 – Global eTrade Services (GeTS), a global trade platform company, today announced the onboarding of Swivel Software Limited (Swivel) and its community of users onto GeTS’ Open Trade Blockchain (OTB), a permissioned blockchain of trusted nodes built for the trade communities.
Swivel — a leading logistics technology provider that facilitates supply chain visibility among multiple stakeholders in over 30 countries, will use GeTS’ OTB as a trusted blockchain platform for its ecosystem of importers/exporters, truckers, forwarders, customs brokers, insurance and financial service providers, air and ocean carriers.
Through OTB, customers can secure the exchange of shipment data and trade documents such as Bill of Lading, Commercial Invoice, Insurance and Contracts, providing an immutable audit trail. Customers will be able to mitigate fraud risks and potential alterations to the documents, as customers can verify the authenticity of the documents in the event of dispute or claims, to improve visibility and trust among stakeholders.
Mr. Chong Kok Keong, CEO of GeTS said: “We are delighted that Swivel is leveraging on our blockchain platform to enhance their supply chain’s data authentication. By having peace of mind with the use of trusted data, we can make global trade more accessible, easier and predictable.”
Ms Mandy Mak, COO of Swivel Software said: “We are excited about this collaboration with GeTS and together be part of a global platform. Alongside with GeTS, we look forward to new endeavors and opportunities to offering more trusted and value-added services to our worldwide network customers in the supply chain sector.
Mr Eugene Wong, Chaiman of GeTS said: “Trade by nature is borderless, and by combining the inherent reliability of Blockchain, we are able to bring users from over 30 countries to transform and improve their supply chain, speed up processes and boost efficiency.”