The JM Baxi Group, a privately-run logistics company, joined the industry giant, IBM to work with blockchain solutions for the expansion and development of technology-based solutions using IBM blockchain.
Currently, India’s import-export industry, along with its logistics industry are going through multiple changes, causing some glitches in the system. Working with blockchain technology seems like a step in the right direction since it would make operating ports and providers a lot easier. J. M. Baxi, a Mumbai based company runs ships, container depots, port terminals among other port equipment.
The two companies signed an MoU in Mumbai and are working together on several national and international projects. They are sharing resources and know-how in fields of technology, domain knowledge and techno-functional expertise. This is not the first time that IBM has teamed up with another corporate to work on implementing solutions in blockchain technologies. They worked with Mahindra in the past to handle the supply chain finance system for the country.
Under the Memorandum of Understanding between IBM and the J. M. Baxi group, they mentioned that the teams will together set up a technology and innovation council. The purpose of this council is to leverage the best of both companies, IBM’s technical expertise and Baxi’s industry knowledge to come up with new and improved ideas. They would then together put together the next generation of client solutions.
For starters, they are going, to begin with, feasibility studies, enterprise data architecture and the use of A.I. through IBM. When they are done with this project, they are looking to create a platform for industry-wide trading to save a lot of money, and hasten the process as well.