STANDAGE Inc. and Sankyu Inc. have launched a service to settle logistics costs using Digital currency on May 19, 2021.
This is the first service of its kind in the logistics industry.
The Digital currency that can be used is USDCoins and other stable coin.
It is a currency that is issued backed by legal tender and whose value is linked to legal tender.
Since February 2021, Standage Inc. and Sankyu Inc. have conducted four demonstration experiments using Digital currency to settle logistics costs for Sankyu Inc., which is responsible for logistics operations in international transportation between Nigeria and Japan.
【Outline of the experiment】
1.The buyer deposits the price of the product in USDCoin into a digital vault on the blockchain.
2.The seller ships the product, and the buyer receives it.
3.The buyer deposits the money into the digital vault on the blockchain.
4.The seller pays the logistics cost to Sankyu with USDCoin.
As a result of the demonstration, we were able to successfully implement this method of payment for logistics costs without any hindrance.
In the past, trade was usually completed in two countries, the exporting country and the importing country.
In recent years, however, there has been an increase in the number of cases of trilateral transportation.
In Japan as well, the need for trilateral transportation is increasing as more and more companies expand their overseas production bases.
With this service, in addition to shortening the transportation time of logistics, we will simplify the money flow by realizing safe, inexpensive and prompt payment.
Standage Inc. and Sankyu Inc. formed a capital and business alliance in March 2020.
Standage’s comprehensive trade platform “DiGiTRAD” and Sankyu’s international logistics services are linked.
We are jointly promoting the DX of logistics operations.
In the future, the two companies will utilize the digital vault of DiGiTRAD to build a smartcontract system in which logistics costs are automatically paid from the digital vault according to the steps of cargo delivery.
If you are interested in this project, please feel free to contact us.
4F Shiba NA Building, 3-6-10, Shiba, Minato-ku, Tokyo, Japan, 105-0014
CEO: Akinori Adachi
COO: Kenta Omori
E-mail: [email protected]