HashCash to provide a blockchain and IoT combined architecture for a Spanish supply chain company replacing their legacy systems.
PALO ALTO, Calif., Aug. 31, 2021 /PRNewswire-PRWeb/ — HashCash Consultants, a blockchain development consultant firm of international fame, confirms their collaboration with a Spanish supply chain company. HashCash is to replace its legacy infrastructure with IoT-on-Blockchain architecture.
Supply chains, today, have evolved into highly complex value networks comprise a vital element of competitive advantage. However, it is plagued by a series of challenges. It is turning increasingly difficult to verify the source of raw materials and maintain visibility of products and merchandise while they are traveling through the value chain network. The integration of the Internet of Things (IoT) enables companies to observe, track, and monitor products, activities, and processes within their respective value chain networks. Other functionalities of IoT include convenience in product monitoring to optimize operations in the departments like warehousing‚ manufacturing, and transportation. Combined with IoT, Blockchain technology facilitates a wide range of different application scenarios to enhance value chain transparency and to increase B2B trust.
“When integrated with IoT, Blockchain technology gains the potential to increase the effectiveness and efficiency of modern supply chains,” claimed Raj Chowdhury, HashCash Chief, and blockchain pioneer.
Blockchain applications have the potential to create new opportunities with tracking physical assets and goods in multi-party supply chains. Designated and verified supply chain exchange partners may be informed and updated about the location of target products or merchandise, whether online, in-transit, or in-store.
“Our design checks the necessary boxes of immutability, security, traceability, interoperability, scalability, and efficiency over legacy systems that are crumbling under the increasing demands of modern consumers,” added Chowdhury.
“Having said that, beyond geographical boundaries, blockchain and IoT combination may be delayed due to regulatory policies and industry standards,” concluded Chowdhury.
HashCash is a global software company. HashCash Blockchain products enable enterprises to move assets and settle payments across borders in real-time for Remittances, Trade Finance, Payment Processing, and more. HashCash runs a US-based digital asset exchange, PayBito & digital asset payment processor, BillBitcoins. HashCash offers white label crypto exchange and payment processor software solutions, ICO services, and customized use cases. HashCash propels advancement in technology through Blockchain1o1 programs and its investment arm, Satoshi Angels. HashCash offers solutions in AI, Big Data, and IoT through its platforms, products & services. HashCash solves the toughest challenges by executing innovative digital transformation strategies for clients around the world.
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