IQAX Limited has announced its inauguration as a global technology company providing digital solutions for the global trade industry.
The company said in a statement that IQAX is harnessing the power of blockchain to revolutionise the global trade and logistics industry worldwide.
The company will act as an adviser to foster digital collaboration amongst industry partners to deliver digital solutions for shippers, freight forwarders, carriers, terminals, and financial institutions.
A spokesperson from the company told PTI, “We are pleased to be founded with a team with a deep history in developing solutions for the global trade industry.”
“IQAX’s leadership team includes Steve Siu, director; Romney Wong, chief technology officer; Eric Wong, head of product development; and Phoebe Ho, senior manager of customer success.
“Each of these leaders has more than 20 years of experience in serving the global shipping and logistics community. In addition, some members of the broader team have joined IQAX from CargoSmart Ltd.”
While no launch customers have been confirmed to-date IQAX will be delivering digital solutions for shippers, NVOCCs, freight forwarders, carriers, terminals, and financial institutions on a global scale.
Traditional operating models in the logistics industry are becoming increasingly challenging, which has been exacerbated by recent trade tensions and the ongoing pandemic, the company explained.
Capitalising on its technological excellence and deep experience in the global supply chain, IQAX aims to provide its customers with innovative solutions to empower their digital transformation journey. As a trusted partner, IQAX works closely with their customers to realise their digital transformation goals and simplify the complexities in supply chain management.
By harnessing the power of blockchain to break down silos and centralized barriers in the logistics supply-chain, IQAX offers its customers a digital and more transparent way of working.
IQAX achieves this by delivering flexible technology solutions to overcome real-life logistics challenges, eliminating inefficiencies by creating greater transparency which results in a more sustainable supply-chain ecosystem.
“IQAX is developing its solutions with Microsoft and Oracle core technologies to deliver robust, state-of-the-art blockchain-based solutions in the cloud,” the spokesperson explained.
“More specifically, we are leveraging Microsoft cloud infrastructure to deliver innovative distributed solutions to our customers. In terms of Oracle, we work directly with their Blockchain product development team on using their latest technologies.”