IOTA revolutionizes supply chain management in Africa through partnership with Trademark East Africa

IOTA revolutionizes supply chain management in Africa through partnership with Trademark East Africa

IOTA Foundation and Trademark East Africa revolutionize cross-border trade in Africa

The IOTA Foundation works together with Trademark East Africa (TMEA) and various trading agencies to facilitate cross-border trade in Africa. With its distributed main register, which is based on the Tangle technology, IOTA enables transactions to be confirmed quickly compared to the conventional blockchain. Together with Trademark East Africa, IOTA wants to introduce modern supply chain management systems on the African continent.

The need for rationalized supply chain management is undisputed throughout Africa. Previous isolated systems not only consume time and resources, but also slow down progress on the continent. The partnership between Iota and Trademark East Africa is supposed to solve these problems.

The IOTA Foundation launched its push for the African continent through a formal partnership with Trademark East Africa (TMEA). Together they coped with the challenges of digitization of the export process. According to an examination by TMEA, an African entrepreneur carries out an average of 200 communication processes in a single transaction, including 96 paper documents. This makes the process more difficult.

The system developed by the IOTA Foundation and TMEA anchors the most important trade documents on the tangle and shares them with the customs authorities of the target countries. This accelerates the export process and enables African companies to act more competitive on the world market.

The integration of data in a supply chain is of crucial importance because different parties are involved in the process. Technically speaking, the IOTA network records every single event in a supply chain to ensure efficient traceability and credibility. The partnership between IOTA and TMEA merged all aspects of supply chain management under one roof. Government authorities and private organizations are now working together to enable inexpensive trade.

The IOTA Foundation has set itself the goal of simplifying the entire global business process with a single click. With a market assessment of half a billion US dollars and a return of 30,272 percent, the IOTA network has built up a robust infrastructure despite the crypto-related market turbulence. The focus is on the Shimmer development, including the successful start of the ShimmerevM testnet and important suggestions for governance.

The cooperation between the IOTA Foundation and Trademark East Africa promises an exciting future for trade in Africa. By using the tangle technology and the integration of data in a supply chain, cross-border trade becomes more efficient and transparent. African companies become more competitive and can position themselves better on the world market.