Hedera-DCX Partnership

November 30th, 2022

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.

 

 

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November 30, 2022
DCX and Shubham Logistics partner on agri commodities warehouse solution in India

SSL’s best-in-class warehousing service will be available to all DCX clients as part of its secure and trusted negotiation, contracting and execution solution

SINGAPORE, November 28, 2022 /EINPresswire.com/ --

DCX – a global Agri Fintech operator of platforms for agri products and Shree Shubham Logistics Limited (SSL) – a leading warehousing company in India for commodities are pleased to announce their cooperation agreement to bring transparent, efficient, and robust agri commodities trading to India.

SSL’s best-in-class warehousing service with over 1 million m2 of facilities across 6 states will now be available to all DCX clients as part of its secure and trusted negotiation, contracting and execution solution. The DCX platform integrates with a variety of service providers – inspection, freight, insurance, and finance. This is now the first time that warehousing will also be available directly on DCX providing full visibility for all stakeholders on the status of the trade, and the condition of collateral.

The SSL solution reduces post-harvest losses and increases food security, using scientific and efficient warehouse management systems through our own state-of-the-art Agri-Logistics Parks (ALPs) as well as in third party warehouses. Our wide spectrum of services ranges from Storage & Preservation, Collateral Management and testing of agri commodities.

DCX will offer the solution on its marketplace using their 2.0 platform which was launched in early July. Powered by AWS cloud native services the DCX Platform allows users to Trade, Counter and offers digitised post trade flows in a single environment whilst users have access to service providers offering Freight, Finance, Insurance and Inspection services.

Suraj Arora, Co-Founder and Managing Director of DCX Asia said “We are very excited to work with Shree Shubham Logistics in creating a blockchain backed digitalization ecosystem in the Indian agriculture sector. As we all know, the Indian agriculture economy provides huge opportunities and digitalization of this critical component of the Indian economy would pave the way for creating a positive social impact in the lives of Indian farmers. This cooperation would bring a very dynamic trading digital ecosystem in the field of agri commodities .

Mr Maneesh Mansingka. Managing Director of SSL said “We are excited to work with DCX Asia to form a vibrant Agritech platform that can be used by farmers, traders, processors and government agencies, forming part of the Indian agriculture commodities ecosystem. DCX has global expertise and is operational in various regions of the world, this platform will enable a safe and efficient digital trade, storage, financing, export or import of agricultural commodities. This will add a new revenue stream for the company without incurring any further capital expenditure.

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 to license the platform for use via a Software as a Service (SaaS) offering promoting seamless digitalization and trusted reporting within their own groups and with clients and service providers.

More about SSL

Shree Shubham Logistics Ltd. is one of the leading warehousing companies in India for agricultural commodities servicing more than 2000 customers. SSL is engaged in the business of warehousing and safe keeping of agricultural commodities; servicing Government, corporate & retail customers. SSL works on an owned plus hired warehouses model and is currently present in Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Haryana & Karnataka states. SSL has ties with over 20 banks for providing Collateral Management Services (CMS) and can issue digital warehouse receipts which are fully recognized under WDRA. . The products handled include: wheat, sugar, paddy and processed rice, pulses, oilseeds, cotton, etc., with an aggregated yearly volume of over 2 million tons.

Incorporated in 2007, Shree Shubham Logistics Ltd (SSL) is a wholly owned subsidiary of Kalpataru Power Transmission Ltd. (KPTL) and part of the Kalpataru Group - one of India's leading conglomerates with interests spanning in Real Estate, Power Transmission and Distribution, Civil Infrastructure and Logistics.

Suraj Arora
DCX Asia
+60 12-298 3264

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November 28, 2022
DCX and GVT team up to create DCX Livestock Exchange in India

The DCX Livestock Exchange will feature over 5 million farmers from 22 states across India, integrated with inspection to ensure all products are certified.

We are looking forward to creating internal transparency in agri commodities in India. Our platform paves the way for resolving the food security concerns currently facing the region.”— Suraj Arora

SINGAPORE, November 16, 2022 /EINPresswire.com/ -- DCX – a global operator of platforms for agri products and GVT – an eminent development organization promoted by KRIBHCO have agreed to create a cooperate on creating a marketplace for livestock in India.

The DCX Livestock Exchange will feature over 5 million farmers from 22 states across India. The marketplace will integrate with inspection companies to ensure that all products on the platform have been certified and can be traced by the buyer. Furthermore the marketplace will give produces full visibility on the price that they have received and compare it to other districts and states.

Suraj Arora, Co-Founder and Managing Director of DCX Asia said “We are looking forward to creating internal transparency in agri commodities in India. As a group we feel blockchain can pave the way for resolving the food security concerns currently facing the world. South Asia is not only a big consumer of agri products but also a big producer of the same thus creating the need for a very dynamic trading digital ecosystem. We are humbled and fortunate to work with GVT for creating the first Digital Livestock Exchange in the region”.

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 in 4 agri commodity areas – Rice, Fertilizer, Grains and Pulses. Since its launch in 2020 the company has attracted over 200 clients from 40+ countries around the world.

The DCX 2.0 platform will allow clients to license the platform for use in their own environments promoting seamless digitalization and trusted reporting within their own groups and with clients and service providers. It will also allow the creation of regional and local marketplaces with smaller participants and local payments providers.

Gramin Vikas Trust (GVT) started its journey in 1992 as a national level non-profit development organization with the support from Krishak Bharati Cooperative Ltd (KRIBHCO), Ministry of Chemical & Fertilizers, GOI and DFID (UK) to create a world where every citizen can live a secure, healthy and fulfilling life and, sustain in harmony with nature. Along with various social, economic and environmental development initiatives, GVT is involved in enabling capacities of rural populace through running various institutes like School of Rural Management, National Livelihood Resource Institute and Krishi Vigyan Kendra.

GVT is directed by the Board of Trustees, which includes five Trustees from KRIBHCO, two Trustees from Ministry of Chemicals & Fertilizers, Government of India, and three nominated eminent Trustees from diverse background.

Mr Shailesh Kotru Lead Business Development from GVT said "this unique initiative will streamline and enhance the quality of Indian livestock market and open innumerable opportunities for the farming community to increase their income through through this Digital Livestock Exchange. Gramin Vikas Trust is very proud of being the part of this initiative and thankful to DCX Asia for this collaboration."

Suraj Arora
DCX Asia
+60 12-298 3264
suraj.arora@dcx.group

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November 16, 2022