{"id":66508,"date":"2023-12-07T15:07:21","date_gmt":"2023-12-07T19:07:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=66508"},"modified":"2023-12-07T15:09:20","modified_gmt":"2023-12-07T19:09:20","slug":"deloitte-partners-with-kilt-blockchain-to-launch-kyx-for-shipping","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/deloitte-partners-with-kilt-blockchain-to-launch-kyx-for-shipping\/","title":{"rendered":"Deloitte Partners with Kilt Blockchain to Launch KYX for Shipping"},"content":{"rendered":"\n

Deloitte has collaborated with the Kilt blockchain<\/a> to launch a novel logistics service called KYX, which combines Know Your Client and Know Your Cargo principles. Hapag-Lloyd, a shipping giant, is the first adopter of the system.<\/p>\n\n\n\n

\"Deloitte<\/figure>\n\n\n\n

Deloitte, a prominent division of the \u201cBig Four\u201d accounting firms, has teamed up with the Polkadot-based Kilt blockchain to revolutionize logistics and supply-chain services within the shipping industry. <\/p>\n\n\n\n

The initiative aims to introduce a novel logistics service known as KYX, short for Know Your Client and Know Your Cargo.<\/strong> Hapag-Lloyd, a leading shipping giant, is set to be the inaugural adopter of Deloitte\u2019s KYX system.<\/p>\n\n\n\n

About KYX<\/h2>\n\n\n\n

The KYX system\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is ingeniously crafted by combining two critical processes: Know Your Client (KYC) and Know Your Cargo. KYC is a procedure designed to identify and verify the client\u2019s identity, ensuring compliance with regulatory requirements. On the other hand, Know Your Cargo focuses on the verification and tracking of shipped goods. <\/p>\n\n\n\n

Deloitte\u2019s KYX leverages the capabilities of the Kilt blockchain, offering a decentralized and open-source solution for the creation of blockchain-based services.<\/p>\n\n\n\n

In a recent chat at the India Blockchain Week<\/use><\/svg><\/span><\/a> conference, Ingo Ruebe, the founder of the KILT Protocol, shed light on the pioneering collaboration. Ruebe highlighted that the use of decentralized and open-source solutions \u201cBuilt on KILT\u201d<\/strong> empowers entities to create blockchain-based services without the complexities of dealing with cryptocurrencies or requiring extensive blockchain expertise.<\/p>\n\n\n\n

Hapag-Lloyd Leads the Way with KYX Implementation<\/h3>\n\n\n\n

Hapag-Lloyd, a prominent player in the shipping industry, has taken the lead as the first company to implement Deloitte\u2019s KYX system. <\/p>\n\n\n\n

The strategic partnership aims to enhance shipping logistics by bringing transparency and efficiency to the identification and tracking processes. Hapag-Lloyd is set to equip approximately 1.5 million containers<\/strong> with cutting-edge devices capable of real-time tracking. <\/p>\n\n\n\n

The technology ensures the security of shipments and provides evidence that containers have remained sealed during transit.<\/p>\n\n\n\n

The implementation of KYX by Hapag-Lloyd marks a significant step towards modernizing and securing the global shipping supply chain. By utilizing the Kilt blockchain, Deloitte and Hapag-Lloyd are poised to set a new standard in the industry, offering a reliable and tamper-proof system for verifying both clients and cargo.<\/p>\n\n\n\n

Vodafone to Follow Suit with KYX Adoption<\/h3>\n\n\n\n

Following Hapag-Lloyd\u2019s pioneering implementation, telecommunications giant Vodafone<\/a> is next in line to adopt Deloitte\u2019s KYX system. <\/p>\n\n\n\n

The expansion of KYX into the telecommunications sector signifies the versatility and applicability of the blockchain-based solution beyond shipping. <\/p>\n\n\n\n

As technology continues to intertwine various industries, the collaboration between Deloitte and Kilt blockchain is positioned to make a lasting impact on supply-chain services globally. The integration of KYX by Vodafone also underlines the scalability of the solution and its potential to revolutionize diverse sectors. <\/p>\n\n\n\n

By incorporating Know Your Client and Know Your Cargo principles, Vodafone aims to enhance its logistics and supply-chain processes, ensuring greater transparency and security in handling client information and cargo shipments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Deloitte has collaborated with the Kilt blockchain to launch a novel logistics service called KYX, which combines Know Your Client and Know Your Cargo principles. Hapag-Lloyd, a shipping giant, is the first adopter of the system. Deloitte, a prominent division of the \u201cBig Four\u201d accounting firms, has teamed up with the Polkadot-based Kilt blockchain to […]<\/p>\n","protected":false},"author":44,"featured_media":66510,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[130],"tags":[3957,17508,14395,17507],"class_list":["post-66508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","tag-deloitte","tag-hapag-lloyd","tag-kilt-protocol","tag-kyx-system"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/12\/container-ship-cargo.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=66508"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/66510"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=66508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=66508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=66508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}