KPMG managing director Yatish Desai and audit partner Ryan McCarthy presented a blockchain solution seeking to add transparency and visibility in the transportation space.
They introduced the ledger to the MarketWaves 18 audience during a series of seven-minute rapid fire demos held throughout the conference.
The demo focused on a custom solution that allowed a KPMG client to apply for permission to be exempt from customs duties for items imported into a country, and manufactured into another good that was then exported.
McCarthy took the audience through the platform from the custom’s broker perspective. The system integrates information from legacy participants: the freight forwarder, manufacturer, customs agent.
One big benefit is the ability to close the gaps that trace the provenance of the item throughout the manufacturing process. All of the information is auto-populated to create a single administrative document, McCarthy said.
More of the popular demos, which aren’t allowed to use PowerPoint slides and must show the product in action, will be featured at Transparency19 in May.