Enterprise-geared scalable blockchain project IOST (IOST) has joined forces with its new partner node, the South Korea-based decentralized global logistics project dKargo. The two entities will work together to leverage the benefits of distributed ledger technology (DLT) in the logistics industry, per an announcement dated April 28, 2020.
Using Blockchain to Streamline Logistics Space
In a bid to promote the use of blockchain technology in the fragmented and typically opaque supply chain and logistics space, ultra-fast, decentralized blockchain network IOST has inked an alliance with Lotte Global Logistics’s partner dKargo.
Notably, the potential for blockchain technology in the logistics industry is immense. Per sources close to the matter, the blockchain supply chain market will grow to a billion-dollar market by 2023. In the same vein, today’s $10 trillion logistics industry is estimated to be worth a whopping $15.5 trillion by 2023.
At the same time, however, several bottlenecks to the industry’s growth, including challenges related to transparency continue to stunt the exponential growth of the supply chain industry. However, by developing and deploying blockchain-powered solutions in the industry, involved parties can rapidly and permanently circumvent common issues in the logistics space and establish trust among all the industry participants.
IOST’s enterprise-geared blockchain edition Aiou technology will foster the use of DLT in the global supply channels to help firms better their supply chain management services, logistics, and capital flow by building an immutable and consensus-driven infrastructure.
Welcoming dKargo to the IOST Ecosystem
According to the official announcement, IOST and dKargo will aim to tap the numerous benefits of blockchain technology to tackle issues pertaining to trust among the fragmented participants in the logistics industry. IOST, in conjunction with dKargo, will work toward the development and implementation of a truly transparent and efficient blockchain-enabled logistics network.
Commenting on the development, Seungho Yeom, dKargo’s Business Development Team Lead, said:
“With this collaboration opportunity with IOST, dKargo plans to conduct joint research to introduce the real life application of dKargo service through IOST’s excellent technology and network.”
“In the process, we will actively cooperate so that the technical excellence of IOST can be spread to domestic and foreign industries. In addition, we will work together to further develop the IOST ecosystem.”
For the uninitiated, dKargo is a subsidiary to DeLeo, the supply chain service provider for Kakaopay Express in collaboration with Kakaopay, and Lotte Global Logistics.
A promising series C startup with the backing of some of the top VC firms, Deleo offers logistics platform customized and optimized for global E-Commerce.
At present, the Deleo network is being used by more than 150 global brands to sell their products. A few of the more than 150 global partners of Deleo include the likes of UPS, China POST, FedEX, CJ Korea Express, and LA POSTE, among others.
IOST Node Program Continues to Grow
With a total staking volume of IOST at 4.35 billion and growing, the IOST Node Program has been nothing short of a resounding success. By forming an alliance with dKargo, the IOST community looks forward to making its presence felt in the Korean market.
To date, the IOST Node Program has been successful in attracting more than 400 applicants from all over the world. The participants who have joined the IOST Node Program range from full-stack developers to crypto influencers, and IOST enthusiasts, among others. For their valuable contribution to the IOST mainnet, the IOST Node Partners are duly rewarded. You can learn more about the IOST Node Program here.