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 Iowa > Cities > K > Lake Mills
 Iowa > Announcements > Business Info

Blocl Chain Provides Transparency for Uzbek Cotton

Item ID#:4396194Seller City:Lake Mills
Seller ID#:1465665Seller County:Winnebago
Price:$1Seller ZIP :50450
Views:44Expires:17 days
KUALA LUMPUR 23rd Feb 2018, – PKLT, Malaysia’s pioneer Cotton Supply and
Value Chain Advisory & Consulting “Think Tank”, today announced that it has
signed a Joint Initiatives agreement with seasoned cotton commodity
transshipment handling, and supply chain (multi modal) management company.
The Joint Initiatives Agreement comprises of several key milestones that are
focused on primarily mapping out a supply chain process which is backed by policy
and procedures, fully transparent, in English Medium,backed by real time issued
documents that would be eventually filed into the OCR Enabled Ledger Registry.
Post building these initial cotton blockchain pillars, other critical challenges are
sought to be enabled to overcome currently bottlenecks primarily of Track and
Tracing Operations that involve cross border of 3 individual Country Customs
Check Points. GPRS tracking technology, backed by real time updates on hourly
basis as to location and stage the dispatch is developing at. Methodologies and
formulations are also planned whereby pricing transparency of the moves is
deliberated, in consideration of commercial sensitivities involved.
The key selling point under the envisaged seamless technology endeavor is to
provide transparency for Uzbek Cotton transshipping via Iranian Marine Ports. The
transport documentation is concurrently being developed, with compliance and
regulatory requirements in mind. The Internationally Banking community, already
stinging from record fines levied on violations under the OFAC regulations
governing trade and banking issues related to Iran amongst others, is refusing to
participate in fear of repercussions on interpretations of US Treasury guidelines
that are vague and all empowering.
As of 16th Jan 2016, Iran became party to the JCPOA P5+1 sanctions reprieve
agreement in consideration of its reformative steps on non-nuclear proliferation
activities, It is additionally noted that the current bottle neck on this matter is due to
the “snap back clauses” that are meant to be reviewed on quarterly basis, thereby
rendering challenges and continuity to cotton exporters such as Uzbekistan Cotton has a very complex supply chain, with little traceability as of now. A majority
of cotton is grown in developing countries. Lack of transparency in cotton
production leads to decreased product integrity, impacting the environment and the
well-being of many people.
“Cotton goes through many hands, from traders to spinners, and there are all sorts
of transactions that happen. In the current form, it is not a very transparent supply
chain. “CIS's cotton supply chain cross borders by rail, trucks, and ocean marine
modalities. Uzbek Cotton and Yarn are facilitated in transit from Origin to
Consuming markets such as Bangladesh or Vietnam” Nasrollah Rahemi -
DIRECTOR of Operations, Deltabar Logistics – Tehran.
"The solutions to complex issues are not simple. Accelerators such as Blockchain
Fintechs have the ability to impact positively from Supply to Value Chain providing
requires transparency helping the issue of supply chain transparency" Krishnan
Ramamurthi elaborated. "A multi tiered effort with synergy is required".
With this initial proactive steps, designed with long term term deliverables to
concerned stakeholders, commercial and governments, premiums derived from
Consumers requests of Transparency will be a critical financial motivating factor
ensuring execution of these plans.

It is aspired that these proactive steps will be reciprocatively addressed and on
boarded by global financial and relevant regulatory bodies, PKLT, as the promoter
will be approaching regional vital stake holders, such as Iranian Railway Authority,
Port Authorities of Iran, with base models for discussions already. The time line
estimated to obtain needful commitment and on boarding formalization has been
estimated to be 90days, as advised by local collaboration firm Delta Bar Limited.

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