Blockchain Traceability Platform Rolled Out By OwlTing USA

Announcements, Blockchain, Innovation | May 22, 2018 By:

OwlTing USA, a Chicago-based subsidiary of Taiwan-based blcokchain firm OwlTing, has launched a blockchain platform that will enable businesses to manage end-to-end traceability more efficiently and effectively.

OwlTing USA, which was established in 2017 to bring ethereum-powered blockchain business solutions to the US market, said the blockchain traceability platform will bring more transparency in food production, agriculture and other complex supply chains. The platform leverages the power of blockchain to help establish product traceability and enhance brand trust among consumers. It is also equipped with analytics and integrated marketing tools.

The company said agriculture and food production have historically lacked in consumer transparency. OwlTing’s blockchain platform aims to counter this deficit in transparency by providing a view into a product’s journey from its origin to the shopping bag.

“There is high demand for a solution like OwlTing’s in a world that is increasingly focused on truth in business,” OwlTing said. “Businesses with the best intentions now have a way to make their strides in transparency visible to the consumer.”

Founded in 2010 by Darren Wang, OwlTing is focused on e-commerce and blockchain applications with services in global travel, food safety, social media platforms, global hotel bookings, and blockchain application services. In November 2017, the company developed an ethereum-based hotel management service that enables hotels to design customized pricing packages, identify returning customers, collect customer preferences and automatically adjust promotion campaigns by seasonality and customer behavior more easily.

Earlier this month, Japanese financial giant SBI Group made an “eight figure USD investment for 20% equity” in OwlTing. OwlTing founder and CEO Darren Wang said that the investment from SBI will allow OwlTing to accelerate expansion into Europe and establish offices for global operations.