Overview
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Covantis Case Study: Modernizing Global Supply Chains with ConsenSys Blockchain SolutionsConsenSys |
Application Infrastructure & Middleware - Blockchain Platform as a Service (PaaS) - Application Development Platforms | |
Paper & Pulp Retail | |
Logistics & Transportation Procurement | |
Inventory Management Port Automation | |
Operational Impact
The implementation of the Covantis blockchain platform has revolutionized the agricultural trading and shipping industry by automating a significant portion of execution tasks and increasing transaction speed. The platform has also significantly reduced the number of rekeyed entries and decreased error rates and inconsistencies. This has resulted in a more efficient and streamlined process, reducing operating costs and risks of human error. The platform has also facilitated the seamless exchange of documents and information among industry participants, making it easier to electronically exchange documents and data. This has been particularly beneficial in the context of the COVID-19 pandemic, where disruptions to paper document deliveries and the increasing necessity to work from home have highlighted the importance of digital transformation. | |
Quantitative Benefit
60% of execution tasks automated | |
70% increase in transaction speed | |
90% reduction in rekeyed entries | |