HashCash is working in UAE on supplychain project, oil and gas sector project and with a major bank
HashCash Consultants has made two announcements in the past week all related to the UAE. According to the latest announcement HashCash has partnered with a UAE Based conglomerate to aid them with blockchain solutions to streamline their overall operational architecture across verticals. HashCash will be using its blockchain network HC Net as the DLT platform for optimizing their partner’s existing supplychain infrastructure. The key objectives of the project also cover the streamlining of the financial operations of the partner organization. The HashCash collaboration extends to ICO development services as well, which will be the partners’ prime focus in the second phase of the project.
All information concerning the supply chain, i.e. material flow, capital flow, and information flow gets entered into the immutable ledger. The participants involved in the partner business model will be able to track the information in real-time, through HC Net. “HashCash Blockchain backed supply chain solutions take care of provenance tracking across the company’s different manufacturing units, reduces operational cost and establishes the value of trust within the organization,” mentioned Raj Chowdhury, CEO of HashCash Consultants.
Coming to the enhancement of financial infrastructure within the organization, HashCash aims to integrate the existing architecture with its Blockchain solutions. The implementation of HC Corporate Payments will enable real-time document sharing, instant reconciliation, and automation through the use of smart contracts.It will offer the partner organization a platform for faster, secured and transparent B2B payments. HC Corporate Payments digitizes the end-to-end trade process and unites all the involved parties across the business network of the partner, significantly minimizing the processing time.
The second phase of the project will focus on ICO development. With the ongoing crypto boom, that is a lucrative venture of interest to the partner. HashCash will offer its all-inclusive crypto development services that comprise of ICO launching, token listing, wallet, and exchange development as well.
Prior to this announcement Hashcash on Feb 21st announced their collaboration with a major oil corporation in the UAE for a blockchain based oil supply chain. Also using HC Net, the aim is to modernize the existing archaic business model and supply chain operations of the oil industry. By optimizing the legacy system both parties intend to bring values of transparency and enhanced security into the overall supply chain and oil trading processes. Talking about the latest collaboration, Raj Chowdhury, CEO of HashCash Consultants, stated, ” “The Global Oil industry still operates on a fragmented and outdated infrastructure that needs immediate reformation. HashCash along with our partner oil corporation seek to fortify the existing processes with Blockchain to create a more transparent ecosystem of oil production and trade.”
There are multiple areas within the oil industry that demands attention. The supply chain needs accountability and transparency in the way the fossil fuel is extracted and whether the companies are being compliant with the set regulations. Streamlining of the convoluted process of oil trade needs tweaking as well along with fortification of the security protocols. HashCash Consultants is offering its partner corporation with the HC Net platform to address these issues and find solutions to the same. Oil trade involves a lot of back-office processing, which will be streamlined by HashCash. They intend to conduct all transactions from initial trade to the end settlement over the Blockchain platform, making it transparent and traceable. All relevant information concerning the extraction, production, and distribution of the oil will be recorded in the shared ledger, providing evidence on whether the company is compliant with the environmental regulations.
In October of 2019 Hascash also announced it would be working with a major Bank in the UAE for a commercial lending solution.
Hashcash never reveals the names of its clients in all its communications and does not reveal its partners in the different geographies worldwide.