Bangalore, India — One of the “Big Four” accounting firms, Deloitte, has a division that specialises in providing supply-chain and logistics services for the shipping industry. Kilt, a blockchain platform built on Polkadot, will be utilised for this purpose.
During a fireside chat at India Blockchain Week, Ingo Rube, the creator of the KILT Protocol, revealed that Deloitte is collaborating with supply-chain technology company Nexxiot to provide a novel kind of logistics service known as KYX.
KYX is an acronym for Know Your Client (KYC) and Know Your Cargo (KYX), two procedures that, separately, establish and validate the client’s identity and the shipped goods. The Kilt network is the foundation of this system.
“Using decentralized and open-source solutions ‘Built on KILT,’ any entity could create a service built on a blockchain without having to deal with cryptocurrencies or needing blockchain experience,” Rube said in a statement.The first company to use KYX will be the massive shipping company Hapag-Lloyd, followed by the telecom behemoth Vodafone. It is estimated that Hapag-Lloyd is outfitting approximately 1.5 million containers with trackable devices to demonstrate that they are safe and have not been opened. Based on data, the native kilt (KILT) tokens of the KILT Protocol have increased by 2.5% in the past 24hours