BanQu, Inc, the blockchain-as-a-service software company with presence in MENA has signed a strategic partnership with RSM Spain, the Spanish member firm of RSM International, a global network of independent audit, tax and consulting firms with more than 41,000 people in 116 countries.
BanQu allows the unbanked to set up a personal digital identification profile while connecting them to the global supply chains they participate in (i.e. brands/ companies they work for, banked network including family, friends, small businesses, and associated NGOs). As they start accumulating a transaction history on the BanQu blockchain, the unbanked also develop a trackable, vetted financial and personal history.
RSM Spain will open up new market opportunities across European supply chains for BanQu, the world’s first and only non-cryptocurrency blockchain platform. BanQu’s innovative technology provides benefits to businesses like RSM Spain, seeking end-to-end supply chain transparency, traceability, and efficiency while ensuring compliance with the United Nations Sustainable Development Goals (SDGs).
The alliance between BanQu and RSM Spain will provide an immutable ledger of information about the company’s distributed supply chains, guaranteeing the origin of raw materials and all successive processes through BanQu’s signature “track and trace” feature. The partnership further provides economic opportunities and visibility to the last link in the supply chain, known as the “last mile”, while establishing efficiency gains for the brand, and, ultimately, transparency to its consumers.
Luis Portabella, partner of RSM Spain Consulting, comments: “We have all heard of blockchain and many companies are thinking of introducing this technology in their businesses, however, until now we had no record of a tangible product developed and with live references in the market. BanQu provides a great added value to the company in its supply chains, to make its logistic processes more efficient and fulfill its social responsibility objectives. In turn, consumers obtain guarantees of the origin of the product; society wins in social justice, big corporations like ABInBev, JT International and Mars are already using the BanQu platform.”
BanQu operations are now live in Brazil, Costa Rica, India, Indonesia, Jordan, Malawi, Somalia, South Africa, Syria, Uganda, United States, and Zambia, with rollouts in Nigeria, China and Mexico slated for later this year.
Ashish Gadnis, Co-Founder and CEO of BanQu, comments: “The BanQu platform is now live in 12 countries across multiple brand supply chains, impacting nearly 200,000 last mile beneficiaries to date. We’re now operating at a level of maturity and commercial success that allows us to scale to the next level by adopting a robust channel partnership. RSM Spain is the perfect partner to get BanQu a strong foothold in both the Spanish and European markets. With some of the biggest global brands looking to BanQu for transparency, traceability and efficiency in their supply chains, all while meeting key UN Sustainable Development Goals (SDGs), this is both a wonderful and critical partnership for us.”
BanQu aims to help lift 100-million of the world’s 2.7 billion unbanked and underbanked people out of extreme poverty by 2023 through its unique blockchain platform.