Powerbridge Technologies is building its blockchain-based SaaS platform to optimize and integrate traditional supply chain systems.
Business leaders across different industry verticals believe that blockchain technology can be a real game changer in supply chain management. The current supply chain management solutions are facing increasing challenges due to several external and internal pressures such as increased complexity, volatility of demand and a changing retail landscape. Powerbridge Technologies today announced that the Company is building an innovative Supply Chain Management platform based on blockchain technology.
The new offering of Powerbridge Technologies is a SaaS Platform based on blockchain technology and it is expected to optimize and integrate traditional supply chain systems.
Founded in 1997, Powerbridge Technologies, a Nasdaq listed company, is an innovative technology company focusing on providing AI, loT, Blockchain, and financial technologies, as well as SaaS solutions and operational services in various fields such as cross-border trade, smart cities and government services.
Supply chain management is one of the first applications of blockchain technology that has already started offering tangible and trusted business benefits. Way back in 2017, Walmart and a group of food giants such as Unilever (UL), Nestlé, and Dole (DOLE) teamed up with IBM to explore how they can apply blockchain technology to their food supply chains.
Companies have leveraged blockchain technology to streamline their supply chain which has been impacted by Covid-19. In fact, blockchain is also being utilized to streamline the Covid-19 vaccination and treatment.
In February, BurstIQ, an enterprise-level blockchain solutions provider for the health and healthcare industry, partnered with a consortium of other technology and solution providers, including TrackMy Solutions, to formalize a solution that streamlines COVID-19 mass vaccination program.
“Powerbridge’s Blockchain enabled Supply Chain Management SaaS Platform will serve to connect suppliers, logistics service providers, distributors, retailers and end users into an integrated feature network, implementing real-time information sharing for all participants, while ensuring the efficiency of information transmission and the credibility of the information,” the company stated.
Commenting on the scope of new supply chain management solution, Stewart Lor, President and Chief Financial Officer of Powerbridge, said:
“Our Blockchain management platform, Blockchain technology can be applied into more practical scenarios and deeply integrated with businesses.We expect the application of Blockchain technology to bring continued growth to the company’s revenue.”
The company said that it will extend its application to supply chain financial technology and other fields in the future.