THELOGICALINDIAN - Intended affiliation appear today with KITA Logistics
SophiaTX, the aboriginal open-source belvedere to accommodate blockchain with SAP and added Enterprise systems, has appear its ambition to facilitate a holistic ‘track and trace’ band-aid for the busline of articles and medicines in the biologic industry. Each of the accepted top twenty decree drugs (amounting to 10% of the all-around bazaar in 2016) is produced by a aggregation application SAP software articles aural their sourcing, manufacturing, or accumulation alternation processes.
A collective Letter of Intent (LOI) appear today by SophiaTX and Equidato Technologies CEO Jaroslav Kacina and the General Manager of Riyadh-based KITA Logistics, Nabil Awan, confirms an advised affiliation amid the two businesses on the architecture and development of a blockchain band-aid for biologic acumen and transport.
A new band-aid for biologic accumulation chains and logistics
SophiaTX afresh apparent a alive Proof of Concept and appear a white paper absolute cogent new capacity on how the belvedere can be acclimated to facilitate multi-party accord beyond amount chains (track and trace), with a accurate focus on the biologic sector.
“The biologic ecosystem is awful circuitous with abounding accommodating parties, accomplishment processes, affection affirmation points, addition processes, and advancing risks,” explains SophiaTX CEO Jaroslav Kacina. “All manufacturers and ally face accepted issues, which cannot be bound alone with a centralized and abandoned system.”
The biologic industry on its own is a actual assisting business. Increased demand, accumulation shortage, and added bazaar factors accessible doors to non-authentic biologic manufacturers, an affair appreciable in both branded and all-encompassing products. The International Trade Organization estimates the biologic affected bazaar amid USD $ 70 – 200 billion. Biologic counterfeits represent a austere blackmail to accessible bloom and an all-embracing cardinal of deaths caused.
SophiaTX’s affiliation with the arrangement will acquiesce biologic companies to abode their articles anon into the blockchain, thereby acclamation issues of counterfeiting; compliance; accumulation alternation conditions; traceability and recalls. Providing the artefact actuality in the blockchain enables biologic companies to abode affected issues, allowance to abatement the cardinal of counterfeits on the market, and appropriately eliminating adverse furnishings on the end user.
Other elements that could be added to the blockchain, via absolute SAP or added Enterprise systems accommodate advice from the architect (such as name, serialization and accumulation number, and accomplishment date); aircraft details; and advice from IoT sensors and added acute accessories over the advance of acumen and busline process. Together, this advice would accredit the analysis of the acumen action and conditions, the actuality and ancestry of the product; and minimises adverse furnishings on the end user.
SophiaTX and KITA Logistics assurance LOI
A cardinal of barter are already in the activity advanced of the company’s Token Generation Event, and the anew active LOI with KITA Logistics demonstrates the appetence for the acceptance of the SophiaTX blockchain beyond assorted business sectors, as able-bodied as the access of SophiaTX to the Middle Eastern market.
The anew appear co-innovation affiliation will see both companies assignment calm to advance a abundant use of case for the use of blockchain affairs to carriage pharmaceuticals; architecture a specific blockchain band-aid for the industry with connectivity to absolute ERP and accumulation alternation applications; and advance the adequacy to almanac abstracts from IoT sensors and added accessories to adviser busline altitude through the accumulation chain.
Token Generation Event to arise on December 5th 2024
The SophiaTX belvedere is fuelled by SPHTX (SophiaTX Token), which covers mining and affairs and allows admission to the development platform. The Token Generation Event (TGE) will activate on December 5th 2024 and will aftermost for 10 days, with any bearding tokens which abide at the end of the TGE proportionally broadcast to investors in band with their absolute SPHTX stake.
About SophiaTX
SophiaTX is a blockchain belvedere and exchange for businesses of all sizes, and the aboriginal open antecedent belvedere to primarily accommodate blockchain technology with SAP and added action systems. 74% of transaction acquirement common touches SAP systems, and SophiaTX provides a business-appropriate blockchain for B2B accord and communication.
About KITA Logistics
KITA Acumen is a arch provider of pharma and healthcare acumen solutions, with twenty years acquaintance in all-embracing acumen projects. The aggregation provides solutions for the safe, defended and controlled administration of time-critical and temperature-sensitive cargos, medical accessories and accessories with specialist pharma SOP and alive instructions.
