Being the first blockchain platform
out there that’s multi-cloud, that’s bringing in all this data from different clouds, it’s massive and it’s a badge of honor. It feels good to get people
coming up to you and saying, “Really you did that?” To be first you have to be willing to take a risk
because it hasn’t been done before. And here it has been done now. Vertrax’s domain is the bulk liquid
transportation supply chain. Propane and oil and fuel oil.
It’s a very complicated supply chain. And we have software platforms that help along the way. The problem that we’re trying to solve
now with the Vertrax Blockchain is this lack of visibility in this supply chain. It’s always on the deepest winter,
you get this polar vortex. Suddenly your demand is spiking like crazy. Delivery trucks break down,
trains get derailed through snow issues. These disruptions are massive.
And our customers have no recourse. It’s a really big system. We are getting the weather data, we are getting the logistics and transportation data to basically, give insight to retailers,
to suppliers, to everyone. So one of the key requirements when
we were discussing with Vertrax
was they wanted a blockchain solution which can work on multicloud. Where the network operator was on AWS and then all the other suppliers and other network members can operate either in Azure, AWS or other cloud
or on even on-premise environment. And that’s why IBM Blockchain Platform
is great since its multicloud. It allows them to use their own cloud environment,
their own infrastructure. It allows them to onboard new members to the network easily. So take the big propane company. They’ve got five suppliers. But those five suppliers are all competitors. They’re all happy to put their data on the blockchain, but they don’t want the other four people seeing their data. So a lot of the stuff that we need,
that our customers need, we saw – like privacy, security all came out of the box straight away. Instead of weeks and months to build the technology, what we do is we stand up in minutes. And then right away we go and try to solve the actual business problem and build solutions. We are bringing together technology to be used in a collaborative way among a wide variety of participants. To do that, you have to have that mentality going in. We had AWS and IBM team
on the call with us every month. That’s part of the blockchain benefit, right?
So you have two competitors working together. To see those dashboards, those retail propane dashboards up and running, showing fed data from the blockchain. I’ve certainly ticked my boxes in terms
of what I need to show my investors. Prior to this they were saying,
“How do you know this is going to work?” Now the answer is, “Because it works.” A lot of people like to talk about it,
a lot of people still talk about it. But a lot of people just haven’t done it.