Logistics Middle East

Landmark Group cuts shipment times for Babyshop by 40% with Blockchain


Dubai-based retailer Landmark Group and banking giant HSBC have completed a First-of-its-kind transactio­n that connected two independen­tly-built blockchain platforms, marking a major step forward in the Middle East’s logistics and retail industries adopting blockchain.

The transactio­n involved a shipment from Bee Dee Industries in Hong Kong to Babyshop, Landmark Group’s family retail brand in the UAE, a statement said.

It added that a letter of credit was issued by HSBC using the Voltron platform and Landmark Group’s initiated ReChainME platform enabled connectivi­ty with its logistics partners at both ends of a key trading corridor.

This meant that all the key participan­ts along the logistical supply chain could view documents and track progress of the shipment in real-time, thereby reducing the overall time to complete the transactio­n by up to 12 days, a 40 percent reduction.

It also helped reduce the need for paper, as retail supply chains typically involve large numbers of paper documents that are screened and updated at multiple touch-points.

Rajesh Garg, group chief financial officer, Landmark Group, said: “We saw the promise of blockchain technology and embarked on the journey. This is a huge milestone for us at Landmark Group.”

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