- Company in talks with government officials and agriculture industry leaders in Brazil’s Rondonia State
- Pacific Software’s blockchain technologies designed to increase supply chain transparency, thus impacting consumer confidence
- Brazil likely to soon become world’s top exporter of agricultural products
Pacific Software, Inc. (OTC: PFSF), a company engaged in the development, acquisition and licensing of Hyperledger blockchain-based systems, has announced that it has set plans into motion to tap into the huge Brazilian agriculture market. In a recent news release, the company said that it is in talks with the government of the state of Rondonia (http://ibn.fm/iQm1d) and the state’s biggest exporters of meat and agricultural products to explore ways that the industry can use Pacific Software’s Agri-Blockchain technology (http://ibn.fm/RMfuT).
The move comes in the context of Brazil increasing its market share of global agricultural exports. A current report by the Organisation for Economic Co-operation and Development (OECD) and the United Nations Food and Agricultural Organization (FAO), ranks Brazil as the world’s second largest supplier of food and agricultural products. The report, ‘OECD-FAO Agricultural Outlook 2015-2024’, further predicts that Brazil could become the world’s top agricultural exporter in the near future (http://ibn.fm/jLMvC).
At the same time, trend-watchers in the global agricultural industry foresee a huge potential role for blockchain technology (http://ibn.fm/IXFJv). In a world where consumers are increasingly concerned about the origins of their products, blockchain technology will make supply chains more transparent and easier to trace. Large-scale producers will be able to keep better records of their operations, and niche producers, such as organic farmers, will be able to more easily prove and certify every step their products take from field to store shelf.
Pacific Software is developing a cutting-edge trade portal that harnesses the power of blockchain’s ultra-secure databases, and it is now positioning itself to become a key player in the supply of blockchain technology solutions to Brazil’s agricultural industry. This tool will make it possible to track the entire supply chain with blockchain’s solid credibility.
In a news release, Peter Pizzino, president of Pacific Software, said, “We are excited to enter strategic alliances with some of Brazil’s largest agriculture and meat exporters to implement our disruptive blockchain technology-based B2B platform for the supply chain and logistics sectors.”
Pacific Software’s trade platform will be available in Portuguese, English, Cantonese and Mandarin – appropriate options, given that China and the United States are among Brazil’s biggest export markets. The company is developing the B2B and B2C portal in partnership with KBQuest Group Inc., a global IT service provider, and could utilize IBM’s (NYSE: IBM) Blockchain Hyperledger platform (http://ibn.fm/zIO54).
In addition to providing transparency, accountability and trust in the provenance of agricultural products, the Pacific Software platform could also be used in many other key aspects of agricultural recordkeeping. Billing and invoicing can be automated and other records and processes migrated into digital formats. Improving recordkeeping and automating and streamlining processes will lead to improved efficiency which will, in turn, increase profitability.
Pizzino added, “The recent trip to Brazil has strengthened our relationships for building regional market share in order to become a major blockchain technology service provider in the region.”
For more information, visit the company’s website at www.PacificSoftwareInc.com
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