- China
is Brazil’s largest trading partner
- Chinese
President Xi Jinping promoted trade relations at China International
Import Expo on November 5-10
- eCommerce
platforms like Pacific Software’s Agri-Blockchain expected to boost trade
Trade between Brazil and China, the largest countries in
South America and Asia, looks set to increase further after the recently
concluded import fair put on by the Chinese authorities. The gravity of the
trade initiative was marked by the presence of President Xi Jinping, who gave
the opening address to the exhibitors gathered at the National Convention &
Exhibition Center in Shanghai, China. The China International Import Expo
(CIIE) ran for six days, November 5-10, in China’s largest city. The
official word is that Brazilian exporters will have better access to Chinese
markets through platforms like Alibaba.com and Tmall.com, highlighting the
importance of such technologies. Given its capability to provide a highly
effective trust mechanism that can track complex transactions using
cryptographically secure Hyperledger Blockchain technology, the proprietary
e-commerce trade platform under development by Pacific Software, Inc. (OTC:
PFSF) could also play a role in boosting trade between the Asian and Latin American
giants.
Many barriers separate Brazil from China. The metaphorical
crow must cross two continents – Africa and Europe – if it embarks on a flight
path from Brazilia to Beijing. With a time difference of 10 hours between the
two capitals, day and night are inverted, reflecting their locations on the
globe. In addition to which must be added formidable linguistic and cultural
differences. Yet, since 2009, China has been Brazil’s largest trading partner.
The potential for further development of trade is
substantial, as a comparison of China-U.S. and China-Brazil trade will reveal.
In 2017, China bought $130 billion of U.S. goods; it sold $505.5 billion worth
to the U.S. However, Brazilian exports to China run at around $40 billion per
annum, while imports from China are even less than that. As trade tensions
between China and the U.S. escalate, there is increasing incentive for Beijing
to expand this trading relationship by leveraging an ecommerce platform like
the one under development by Pacific Software.
The technology, designed to work as an overlay to existing
international distribution channels, is meant initially to facilitate trade
between exporters in Brazil and importers in China, but, naturally, it has
wider application. It is being developed using IBM’s Hyperledger Blockchain
“Backend as a Service” (BaaS) infrastructure. The IBM BaaS platform has the
capability to record, store and track a variety of digital product information,
such as farm origination details, batch numbers, factory and processing data,
expiration dates, storage temperatures and shipping details. Pacific Software
has commissioned Cobalt 47 Technologies Ltd., a spin-off of KBQuest Group,
to construct the multi-lingual e-commerce B2B and B2C trade
platform. KBQuest Group, Inc. is the leading Microsoft distributor in
China and was named “Microsoft SQL Partner of the Year 2017.”
PFSF is advised on technical issues by Dr. Wang-Chan Wong,
founder and chairman of KBQ Quest Group Inc., the parent company of KB Quest
Hong Kong Limited, who has over 25 years of global IT enterprise expertise.
Wong has also served as adviser to the California Institute of Food and
Agriculture Research (CIFAR) since 2015 and is well positioned to provide
computer science knowledge to the agriculture sector globally. He has been a
tenured professor of information systems and computer science at California
State University for over 28 years, has written 43 technical papers and has
developed numerous software systems and applications for Oracle, Microsoft and IBM.
For more information, visit the company’s website at www.PacificSoftwareInc.com
About MissionIR
MissionIR is
primarily focused on strategic communications. We have executed countless
communications programs to address the needs of companies ranging from
start-ups to established industry leaders, gaining valuable experience and the
expertise necessary to determine the most effective strategy for any given
situation.
For more information, visit www.MissionIR.com
Please see full terms of use and disclaimers on the Mission
Investor Relations website applicable to all content provided by MIR, wherever
published or re-published: http://www.missionir.com/disclaimer.html
