DiMuto, a supply chain technology company, will work with Thailand’s biggest fresh durian exporter, Queen Frozen Fruit, over the upcoming durian season by tagging, tracking and tracing around 4 million durians from Thailand to China, Japan and other parts of Asia.
In fact, DiMuto will turn the durians into traceable digital assets lasting from now to December. This will enable each one to be uniquely tagged, photographed and tracked at each stage of the supply chain.
DiMuto’s blockchain platform can work with supply chain systems to track and account for all of the durians on their journey from farms to factories, via cold chains and through distribution channels, to reach consumers.
Data is encrypted and loaded onto a blockchain ledger, enabling Queen and its partners to follow the entire durian supply process. The technology’s functions range from drawing up contracts along the way to monitoring packing status, having delivery receipts confirmed and receiving customer feedback.
It in turn allows Queen to share verified documents and data with its partners on a single platform, reducing trade disputes over quality and strengthening trust among its customers and suppliers. The increased transparency blockchain provides solves one of the biggest issues faced by the fresh fruits industry: access to traditional bank finance.
With the full supply chain visible on blockchain, DiMuto’s finance partner, Havenport Investments, can conduct more accurate credit assessments and extend financing to more businesses.