DCX, a Singaporebased global SaaS platform for food commodity trading and logistics, willintegrate with Verdana’s solutions that automate carbon management, facilitatecarbon certification, and provide secure and credible carbon footprintanalytics.

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The initial focus will be on 4 verticals – Rice, Fertilizer, Livestock and Food Waste, as well as related service areas like warehousing and freight. Together these represent the largest opportunities for carbon credit creation in the farming and food sectors with a potential to reduce an estimated 5.7 billion tons of annual CO2 equivalent in GHG emissions.

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DCX users will be able to access Verdana benchmarking and measurement tools as well as submit carbon credit claims for certification by standards bodies like CerCarbono, before putting the certified carbon credits up for sale on DCX’s carbon exchange,  and other  Verdana affiliated marketplaces.

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Through Verdana, DCX has access to Green Funding for GHG reduction, and energy efficiency projects.

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Stephen Edkins, CEO of DCX commented “Our partnership with Verdana allows us to plug into an end to end ecosystem for benchmarking, creating and buying credits. Our 1000+ users – who are in nearly all of the target verticals – will now get full visibility on their carbon footprint and tap into funds which will allow them to reduce it. We were particularly impressed by the Verdana commitment to transparent digitalization. Right now the process for certification is opaque and expensive. We aim to democratize that for everyone in the farming and food actors. This will increase food security while increasing income for farmers. There is no greater impact.”

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“DCX’s commitment towards digitization is what the carbon trade needs from all stakeholders,” said Braham Singh, Chairman of Verdana. “There is a glut of unverifiable carbon credits in the market today. At Verdana we ensure an immutable chain carries data to the standards bodies certifying the credit. Such carbon credits stand above others and command a higher price.”

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About DCX

DCX is a global provider of platforms for agri commodities and related products. The DCX Global Marketplace allows users from around the world to connect and transact initially in 4 agri commodity areas – Rice, Fertilizer, Grains and Pulses. Since its launch in 2020 the company has attracted over 1000 clients from 50+ countries around the world. The flexibility of the DCX platform allows the creation of regional and local marketplaces with smaller participants and local payments providers integrated. In addition to offering Global and Local Marketplaces, the DCX 2.0 platform will allow clients to license the platform for use via a Software as a Service (SaaS) offering promoting seam less digitalization and trusted reporting within their own groups and with clients and service providers.

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About Verdana EcoConsortium  

The Verdana Platform is a cloud-based SaaS system that automates carbon management, facilitates carbon trade, and provides secure and credible carbon footprint analytics. The platform is operational  and currently being used to gather power consumption and carbon footprint data from dispersed  commercial facilities across Asia and Europe. It is scalable, secure, open to authorized parties, and  built on open-source modules. While the carbon footprint management business is expected to grow  to $12B by 2025, Verdana’s Blockchained SaaS Platform is unique in providing end-to-end automation  that restores credibility to the carbon trade.

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Verdana and Eco-Registry have partnered to establish a digital carbon registry to offer digital registry services to voluntary sector and national carbon registries. Eco-Consortium ties into the World Bank sponsored CAD Trust to help affiliated countries meet their sovereign commitments to reducing Green House Gas (GHG) emissions. Eco-Consortium will track and manage carbon credits, while  assisting the government verify  actual emissions reductions. The proposed system is designed to enable all carbon trade stakeholders track and manage carbon credits and to fast-track deployment of national registries by having a back-office digital infrastructure do the work. The system components are already live and operating.

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https://verdana.io/

DCX – a global operator of platforms for agri commodities based in Singapore and project44, a global supply chain solution based in Chicago, have agreed to allow DCX clients access to project44 insight’s directly through the DCX platform.

DCX clients will get access to theproject44 supply chain visibility platform through its recently launched 2.0 platform via the DCX’s regional and local marketplaces and in private environments for individual clients.  DCX will offer the functionality independently from the Marketplaces for those verticals which DCX does not currently cover through the DCX Freight application. For those organisations who wish to connect to the DCX Freight, functionality is provided via the Public APIs allowing them to integrate natively with their applications.

Stephen Edkins, Co-Founder and CEO of DCX said “project44's solution and API-first architecture provides real-time location tracking and uses IoT automation to improve freight and administrative inefficiencies and drive business processes,” he said. “[We] also take IoT tracking further than our competition. We can understand temperature, status and what commodities and SKUs are in which trailers. Our infrastructure is powered by AWS and irrespective of which ERP system our customers use, we have a standard set of Public APIs that allow for integration, enhancing their visibility.”

Archival Garcia, VP & GM, ANZ and SEA of project44 said, “We are looking forward to creating internal transparency in agri commodities with DCX. As a group we feel distributed ledger technology can pave the way for resolving the food security concerns currently facing the world. DCX allows smaller and larger clients alike to integrate our solution with their smart contract allowing for a fully integrated dynamic trading digital ecosystem”.

More about DCX

DCX is a global provider of platforms for agri commodities and related products. The DCX Global Marketplace allows users from around the world to connect and transact initially in 4 agri commodity areas – Rice, Fertilizer, Grains and Pulses. Since its launch in 2020 the company has attracted over 800 clients from 40+ countries around the world. The flexibility of the DCX platform allows the creation of regional and local marketplaces with smaller participants and local payments providers integrated.  In addition to offering Global and Local Marketplaces, the DCX 2.0 platform will allow clients tolicence the platform for use via a Software as a Service (SaaS) offering promoting seam less digitalization and trusted reporting within their own groups and with clients and service providers.

More about project44

project44 is on a mission to make supply chains work. As the supply chain connective tissue, project44 operates the world’s most trusted neutral end-to-end visibility platform that tracks more than 1 billion unique shipments annually for over 1,200 of the world’s leading brands, including top companies in manufacturing, automotive, retail, lifesciences, food & beverage, and oil, chemical & gas. Using project44, shippers and carriers across the globe drive greater predictability, resiliency and sustainability.

The undisputed leader in the market, project44 was named the Leader in the Gartner Magic Quadrant, #1 in FreightWaves FreightTech 2022, a six-time leader in customer satisfaction on G2’s Supply Chain Visibility Grid, one of SupplyChainBrain’s 100 Great SupplyChain Partners of 2022, and the Customer’s Choice in Gartner Peer Insights Voice of the Customer report. project44 is headquartered in Chicago with adiverse team spanning 23 global offices including Austin, Amsterdam, Kraków,Paris, São Paulo, Shanghai and Tokyo. Learn more at project44.com.

We’re excited to share that the DCX –the suite of secure and integrated agricultural commodity trading platforms, is now live on the Hedera mainnet. From fertilizer to rice, DCX platforms give improved market access and price discovery. With the transparency, auditability, and power delivered by Hedera’s advanced form of Distributed Ledger Technology (DLT), fraud and risk are significantly mitigated.

In today’s turbulent, fast-changing commodity markets, the ability to ensure trust is vital for producers, distributors,and ultimately consumers. End-to-end supply chain participants need confidencethat their deals are with reliable counterparties, that risks can be assessedand managed, and that all stages of the negotiation can be verified by an independent third party without revealing any of the underlying confidential information. The time is ripe for the adoption of digital supply chains.  

Hedera’s publicly and independently verifiable record of transactions is a major step forward in providing trust in international commodity markets, an industry historically troubled by fears of fraud and other frictions associated with the physical trade and delivery of commodities. All users on the DCX platform can now verify individual platform events, such as trades, on the Hedera mainnet themselves. By providing full traceability and reassurance that all changes are hashed and recorded onthe Hedera Consensus Service (HCS), trust and confidence in each individual transaction is greatly enhanced through a complete audit log.

“We have been really impressed by the Hedera platform which is perfectly designed to bring security to agri-food commodity trading.” Said Stephen Edkins, CEO of DCX. “It provides the trust and transparency for risk to be more accurately assessed and managed. The tamper-proof audit log generated during a trade also allows users to share their verified trading history with suppliers of trade finance and other services. This unlocks access to services that small and medium-sized market participants are currently excluded from and thus broadens the market anddrives value creation.”  

DCX decided to leverage the Hedera dueto its high throughput capabilities, carbon-negative footprint, and the stability of its governance model. The Hedera Governing Council currently consists of 26 global organizations including abrdn, Avery Dennison, DBS Bank, Google, and LG Electronics.

Users are embracing the marketplaces and over 1 million tons of agricultural commodities have been traded since 2020. "Since we became users of DCX, our company has benefited from improve defficiency and faster processes." Said Róbert Jakab, MD of Emirates Foods. "Uploading a trade request and agreeing terms with the seller is very easy. We can quickly and easily agree all contract terms. The biggest benefitis the establishment of long-term business partnerships based on trusted data.The platform is designed to safeguard against fraud and poor quality products."

About Hedera

The Hedera network is the most innovative, sustainable public ledger for the decentralized economy. Hedera’s robust ecosystem is built by a global community, on a network governed by adiverse council of industry-leading organizations, including abrdn, Avery Dennison, Boeing, Chainlink Labs, DBS Bank, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, London School of Economics (LSE), Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.