New Blockchain Network to Help Int’l Trade

Blockchain firm Hijro has partnered with technology services company SAP Ariba, who will become what’s termed an “inventory provider of trade assets” to the Hijro Asset Distribution Network.

That network, built on blockchain technology, facilitates trade among various international partners. As part of the deal, a financing arm will allow SAP’s suppliers in the US to find funding. That application is currently in beta.

“A partnership with SAP Ariba means connectivity into one of the most powerful business networks in the world.” said Hijro CEO Lamar Wilson. “By connecting this network to the asset distribution network, the first suppliers will have access to working capital through the Hijro Beta. Hijro’s API will be utilized to tokenise and register digital versions of trade assets originated within the Ariba procurement platform.”

During the recent Ariba Live 2017 event in Las Vegas, SAP Ariba discussed plans to use blockchain technology across its business network and software solutions to improve processes, connect disparate systems, and add applications to its customers. Since the event, the company has publicized several collaborations.