- Launch
of multilingual, cross-border, Brazil-China e-commerce trade platform
BOAPIN expected in first quarter of 2019
- Exclusive
agreement signed with Brazilian Trade Organization, whose 7,500 members
may enlist as paid subscribers to BOAPIN platform
- Pacific
Software’s strategic IBM working relationship leverages industry-leading
Hyperledger blockchain technology and applications
Pacific Software Inc. (OTC: PFSF), an emerging business
development technology innovator, is closing in on the launch date of BOAPIN,
the company’s proprietary e-commerce platform designed to improve product
traceability and deliver much-needed cross-border trade solutions to global
subscribers. Pacific Software anticipates that its new blockchain-based trade
platform will be able to register new buyers and sellers within the first
quarter of 2019, according to a news release (http://ibn.fm/XQOZS).
The platform caters to the evolving needs of an
international economy with features such as product certification, marketing,
logistics, a commodities search/match interface, trade finance and customs
clearance, multilingual communications and cross-border payment solutions.
BOAPIN is being developed as a digital, blockchain-supported e-commerce website
that will initially link Brazilian agricultural suppliers to China.
“As global economies explore strategies to improve
cross-border data infrastructure, Pacific Software is creating smart contract
technology that integrates important functionalities for seamless global supply
chain management,” Pacific Software CEO and Chairman Harrysen Mittler
stated in the release.
BOAPIN is described as an essential element of a new
partnership that Pacific Software has signed with China and FIERO, a leading
Brazilian trade association focused on developing and promoting the economy of
Rondônia, a regional state within Brazil (http://ibn.fm/2vCDM). More than 7,500 FIERO members will
soon be able to subscribe to BOAPIN and take advantage of the platform in a bid
to expand their sales territory and ensure trade sustainability.
BOAPIN’s inner strength lies in its use of IBM’s Hyperledger
Blockchain Backend as a Service (BaaS) infrastructure. The platform tracks,
records and stores digital product information by integrating blockchain
components that are accessible via a variety of channels linked into the
Internet of Things (IoT). By linking to the IoT, the platform is expected to be
able to gather valuable product data and make complex supply chains more
manageable and safer for all (http://ibn.fm/eCz8b).
It’s not uncommon nowadays for the public to be notified of
a product recall. IBM notes that the use of blockchain technology can reduce
the cost of the average product recall by up to 80 percent, according to an
article published by Forbes (http://ibn.fm/cvyuF). IBM’s Food Trust system uses
blockchain to connect participants through a transparent, permanent and shared
record of food origin details, processing data, shipping details and more. This
is vital, as food fraud costs the global food industry between $10 billion and
$15 billion annually, according to the article.
In an annual shareholder letter issued on January 31,
Mittler said that, in 2018, Pacific Software achieved its goal of creating a
cross-border e-commerce trade platform, and he expects the company to maintain
an aggressive pace as it seeks to further expand into the commercial markets of
Brazil and China (http://ibn.fm/js3PZ).
For more information, visit the company’s website at www.PacificSoftwareInc.com
NOTE TO INVESTORS: The latest news and updates
relating to PFSF are available in the company’s newsroom at http://ibn.fm/PFSF
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