- Pacific’s
B2B cross-border platform aims to facilitate trade expansion
- China
strengthens trade ties with Latin America
- Blockchain
technology holds promise to improve food safety and quality
Different times call for different measures. In antiquity,
caravans traversed the 4,000 miles between China and the West bearing silk,
spices and news. They traveled along what is now known as the Silk Road, a term
coined by German explorer Baron Ferdinand von Richthofen in the late nineteenth
century. But that was then. Today, both goods and information can travel by
other channels. While trade must go by train, boat and plane, trading
information between East and West can occur electronically through a platform
like the one being developed by Pacific Software, Inc. (OTC: PFSF). The tech
company is out to facilitate trade between China and Brazil with an e-commerce
trade platform that looks set to become an important hub in a digital Silk
Road.
Trade between China and Brazil looks set to increase.
Although China has been Brazil’s largest trading partner since 2009, trade
between the two giants is a fraction of what it might be. Currently, exports
and imports between the two countries run at around $40 billion per annum. This
is a mere seven percent or so of the $600 billion traded between the U.S. and
China. Moreover, the incentives for China to diversify its trading
relationships are intensifying. The Trump administration’s approach is likely to
keep trade between the two countries a matter of contention. As a result, China
has been looking to do business further afield, and exhibitors from across the
world, such as Pacific Software, having been showing up at China’s trade fairs.
Pacific Software took part in the recently concluded 124th
Autumn Canton Fair, which ran from October 15 to November 4 in the city of
Guangzhou. The company was a co-sponsor of ‘Latin America Night’, a featured
event at the Fair, which is said to be China’s largest, typically attracting
close to 20,000 vendors and about 200,000 buyers. Held on October 31, 2018, the
Fair’s ‘Latin American Night’ provided an opportunity for Pacific Software to
demonstrate its B2B e-commerce solutions and blockchain system.
Pacific’s Agri-Blockchain B2B e-commerce platform is
designed to work as an overlay to existing international distribution channels.
Initially, it will be employed to facilitate trade between Brazil and China,
but it is expected to find additional application as China develops trading
relationships in the Southern Hemisphere.
The PFSF platform will be developed using IBM’s Hyperledger
Blockchain Backend as a Service (BaaS) infrastructure. The platform is expected
to allow Pacific’s Agri-Blockchain technology to record, store and track a
variety of digital product information, including farm origination details,
batch numbers, factory and processing data, expiration dates, storage
temperatures and shipping details. The B2B cross-border trade platform is
expected to increase the diversity of China’s trading relationships, reduce
costs by eliminating the plethora of middle men, shorten the trade process time
cycle by replacing paper with digital records and, importantly, enhance food
quality by providing faster alerts when food is contaminated.
The Silk Road team at Pacific Software is headed by Harrysen
Mittler, Peter Pizzino and Wang-chan Wong. Mittler, CEO and chairman of the
board at Pacific, has over 30 years’ experience in corporate finance, mergers
and acquisitions, business administration and commerce. He held the positions
of chairman and president at Grand Prix Sports, Inc., which owned a stake in
Nordic Racing Ltd., a FIA F3000 racing team and the support venue for the
Formula 1 International auto racing series. He also served as CFO at Nortia
Capital Partners Inc., a publicly traded merchant banking company, and
Autoworks International Ltd., a company quoted on the Frankfurt Stock Exchange.
Pacific’s president is Peter Pizzino, an executive with an
extensive career, spanning over 25 years, in the securities and investment
industry. Pizzino has served in several NYSE boutique securities firms on Wall
Street and has played a part in generating several hundred million U.S. dollars
in client offerings. Pacific’s technical advisor is Wang-chan Wong, PhD. He is
the founder of KB Quest Group Inc., a spin-off from which, Cobalt 47
Technologies Ltd., will construct Pacific’s 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’.
For more information, visit the company’s website at www.PacificSoftwareInc.com
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