The COVID-19 pandemic has disrupted the global supply chain industry, exposing its vulnerabilities and inefficiencies. As a result, the industry is in dire need of technological solutions to improve transparency, security, and efficiency. Blockchain technology has emerged as a potential solution to these problems, and OBORTECH is at the forefront of this transformation.
Investing in supply chain and logistics is referred to as “new money for an old industry.” With the supply chain industry in dire need of modernization, companies like OBORTECH are looking to make a difference.
OBORTECH is using blockchain and IoT to build a fully digital ecosystem that connects supply chain actors and eliminates technical inconsistency that blocks efficient data exchange.
Data sharing
Sharing data in the supply chain industry often requires manual, time-consuming, and paper-based processes, leading to high transportation costs within global trade and fresh food spoilage.
The lack of visibility reduces supply chain responsiveness, resulting in diminished long-term operational and cost efficiencies.
These problems have been exacerbated by the global trade finance gap, which has reached $1.6 trillion. SMEs face the largest obstacles due to the cost and complexity of banking regulations and navigating the trade finance process.
Building the Smart Hub
OBORTECH aims to build the Smart Hub, a decentralized and democratic digital ecosystem that favors all actors in the supply chain regardless of their size and IT capability. The Smart Hub combines Blockchain and IoT to introduce unified communication, better tracking methods, and more transparency in the logistics system.
The Smart Hub includes a blockchain and cloud-powered communication hub and tamper-proof, unified, and online document exchange.
OBORTECH’s Smart Hub is a game-changer for the supply chain industry. By leveraging blockchain and IoT, the Smart Hub introduces transparency, security, and efficiency in the supply chain.
With a decentralized and democratic digital ecosystem, OBORTECH ensures that all actors in the supply chain benefit, including SMEs that face the largest obstacles. OBORTECH’s Smart Hub is a clear example of how blockchain and IoT can transform traditional industries and bring about positive change.
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Comparison to competitors
OBORTECH is a relatively new player in the blockchain-based supply chain industry, and as of 7 Feb, 2023, it has a market cap of $1 million. When compared to its competitors, it’s clear that OBORTECH has a long way to go to catch up.
VeChain, one of OBORTECH’s competitors, has a market cap of $1.7 billion, making it over 1,700 times larger than OBORTECH. Origin Trail, Dkargo, and Morpheus Network, three other players in the industry, have market caps of $93 million, $100 million, and $109 million.
Did you know that OBORTECH main competitors have a market cap that is respectively 93 to 109 times larger than OBORTECH?
What sets OBORTECH apart from its competitors is its focus on building an all-in-one solution for democratic and digital collaboration that favors all actors in the supply chain, regardless of their size and IT capability. See its competitor matrix analysis here.
The Smart Hub, OBORTECH’s flagship product, combines Blockchain and IoT to introduce unified communication, better tracking methods, and more transparency in the logistics system.
OBORTECH’s commitment to building a digital ecosystem that’s accessible to all actors in the supply chain is unique among its competitors, many of whom focus on specific solutions for specific industries or businesses.
OBORTECH’s vision of a fully digital supply chain ecosystem that’s accessible to all actors, from large corporations to small and medium-sized enterprises, is what makes it stand out in a crowded market.
Recognition of its efforts
Despite being a relatively new company in the supply chain industry, OBORTECH has already received eight awards and recognitions from big institutions and organizations.
Microsoft’s Century Program recognized OBORTECH as one of the top six out of 500 projects. The company was also among the nine leading startups in the PwC Scale program for Sustainable Manufacturing.
Additionally, OBORTECH was named the winner of the Poland Prize by MIT Enterprise CEE, which recognized the top 22 projects out of over 300. OBORTECH has also been recognized as one of the top 20 startups for the world’s largest event for the fruit industry.
The World Bank awarded OBORTECH the Best Project for Digitizing Livestock industry. OBORTECH was accepted for the Newchip accelerator, which recognized the top 10% from 1400 projects. The company was named Startups of the Year 2021 by Hackernoon and Company of the Year 2021 by Logistics TecH Outlook Magazine.
These recognitions showcase OBORTECH’s potential and promise as a company that’s poised to make significant changes in the supply chain industry through its innovative solutions.
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Source: https://beincrypto.com/obortech-to-build-digital-supply-chain-ecosystem/