- Vigorous Chinese effort to diversify trade away from reliance on U.S.
- Ecommerce platform builds bridge between China and Latin America
- Platform boasts multi-lingual B2B and B2C capabilities
The opening, on October 22, of the world’s longest bridge by Chinese President Xi Jinping marked a signal effort to improve trade between mainland China and the rest of the world. The bridge, which, together with link roads, spans 34 miles (55km), connects Hong Kong to Macau and the mainland Chinese city of Zhuhai. Its inauguration follows closely on the launch of another Chinese mega-project: a high-speed rail link between Hong Kong and Guangzhou.
The opening of the rail link in September 2018 was timely. The 124th Autumn Canton Fair kicked off the following month. Pacific Software, Inc. (OTC: PFSF) was there, building bridges and putting together links of another kind. The company served as a co-sponsor of the event’s ‘Latin America Night’, a featured event at the Canton Fair. It is presently building a proprietary e-commerce trade platform that holds the promise of developing trade between Latin America and China (http://nnw.fm/vU0pW). It seems that bridges are not always made of concrete and steel.
China is wooing the world, with overtures that have reached the U.S., Europe, Africa and Latin America. With a population of 1.4 billion, its appetite for resources is close to insatiable; this is a country that must trade. Moreover, growing trade tensions with the U.S. are prompting the Chinese to beef up trade with other countries. Chinese companies are now on the lookout for new partners. They will undoubtedly welcome the e-commerce trade platform under development by Pacific Software. The company has commissioned Cobalt 47 Technologies Ltd., a spin-off of KBQuest Group, to construct its multi-lingual e-commerce B2B and B2C trade platform.
The platform is expected to be in production by this month and will integrate blockchain components, including the company’s Agri-Blockchain. The technology, designed to work as an overlay to existing international distribution channels, is meant to facilitate trade between exporters in Brazil and importers in China, but, as may be expected, it has wider application. KBQuest Group, Inc. is a leading Microsoft distributor in China and was named ‘Microsoft SQL Partner of the Year 2017’.
Development of the PFSF platform will be undertaken 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. It is ideal for tracking the tonnes of beef that makes their way from Brazil to Hong Kong.
The Canton Fair, which ran this year from October 15 to November 4, is the largest trade fair in China. The Fair showcases products manufactured by companies in and around Guangzhou and attracts participants from all over the world. Close to 20,000 vendors and about 200,000 buyers attended this year’s event. The Canton Fair is also an opportunity for local government, NGOs and commercial enterprises to exchange and promote trade, culture, tourism and food.
As a co-sponsor of the Fair’s ‘Latin American Night’ on October 31, 2018, Pacific Software had the opportunity to demonstrate its B2B e-commerce solutions and blockchain system. The company actively promoted this event by soliciting Brazilian companies, local governments and trade associations for sponsorships. Pacific Software worked alongside the delegations in disseminating information on culture and trade. However, the event wasn’t all business. It also featured presentations of food, which guests were invited to sample
For more information, visit the company’s website at www.PacificSoftwareInc.com
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