Deloitte, a renowned “Big Four” accounting firm, is utilizing the Kilt blockchain, based on Polkadot, through its division to provide logistics and supply-chain services catering to the shipping industry.
In a fireside chat during the India Blockchain Week conference, Ingo Rube, the KILT Protocol founder, revealed that Deloitte has partnered with Nexxiot, a tech firm specializing in supply-chain solutions, to introduce a new logistics service termed KYX. This service combines Know Your Client (KYC) and Know Your Cargo processes, verifying both the client’s identity and the goods being shipped. This innovative system operates on the Kilt network.
Rube emphasized that utilizing decentralized and open-source solutions “Built on KILT” enables entities to create blockchain-based services without dealing with cryptocurrencies or necessitating blockchain expertise.
Leading shipping company Hapag-Lloyd is set to be the initial adopter of KYX, followed by telecom giant Vodafone. Hapag-Lloyd plans to equip around 1.5 million containers with trackable devices to ensure their security and verify they haven’t been tampered with.
Recent data indicates a 2.5% increase in the value of KILT Protocol’s native token, kilt (KILT), over the past 24 hours.