SophiaTX, the first enterprise platform integrating blockchain technology with SAP, announced today the company has established a China branch office that will boost access to global manufacturing and trade centers across the country. With in-depth collaboration, blockchain can provide desired trust and transparency in manufacturing, a key focus of SophiaTX (SPHTX).
The new office will be based in Chengdu, the 5th largest city in China. Chengdu has the ambition and government support to become a financial center within the next few years. Establishing a branch there will allow SophiaTX to provide professional blockchain services to businesses with strong international or pro-export focus.
“For export-oriented companies, among many other features, the platform provides originality tracking of manufactured goods. Once the manufactured goods enter into the supply chain and cross the border, our blockchain provides the required proof of origin and subsequent history as required by the brand owners or even by the customer itself.”
With many well-known products and entire brands being produced in the country, China has established its position in global manufacturing and trade. Such a significant role comes with issues around transparency and trust within the supply chain, along with challenges in brand protection. The SophiaTX team has developed a number of blockchain-based solutions for companies, bringing desired trust and transparency into complex international relationships and efficiencies into supply chains.
“We are very pleased to be able to bring this unique and innovative capability to China. The importance of establishing a presence here is to connect local businesses and manufacturers with their customer base and importers of products abroad. China has a dominant place in global manufacturing with certain challenges which can be addressed by our enterprise blockchain technology.”