Switzerland– South Africa’s blockchain landscape is set to benefit from an exclusive partnership between SophiaTX (a leading Swiss-based blockchain company) and ArkTree (an emerging South African tech company).
As SophiaTX’s sole VAR (value-added reseller) in South Africa, ArkTree will bring internationally-recognized blockchain innovation to the ERP (enterprise resource planning) domain, which is quickly gaining traction as a conduit to digital disruption worldwide.
“The experience in enterprise-grade information systems combined with the ability to show clients how systems can be integrated with appropriate blockchain solutions to enhance the business value chain, offers these two companies solid foundation in their partnership decision,” says Sean Martin, Managing Director at ArkTree.
Martin also explains the fact that the blockchain phenomenon is relatively new and unfamiliar, which leads it to scrutiny and resistance from the public. He attributes this to inadequate public knowledge about what blockchain is and how to unleash its full potential to transform and elevate the business world and beyond.
The security of blockchain lies in the sheer decentralization of the infrastructure, which allows for the storing of encrypted data across a wide network of computers simultaneously. The information stored in a blockchain can therefore not be altered. In all its simplicity, such a safe and transparent platform is perfectly suited for tracing the movement of an asset across the value chain.
Mr. Martin also highlights the impact that blockchain will have. As a potential base for a secure peer-to-peer transaction platform, blockchain will play a crucial role in future business. Blockchain’s transparency, stemming from the inability to alter data in the network, will lead to the reduction of fraud, while its simplicity will ultimately yield improved automation as well as more cost-effective data collection across the world.
As a digital “distributed ledger,” the technology is made for multiple industries within the supply chain, including agriculture, food, pharmaceuticals, beverages, retail, real estate, mining, and many other business value chains where traceability across complex supply chain networks is a high priority.
“SophiaTX will bring a direct impact on the bottom line in a relatively short period of time for all businesses that seek better collaboration, exchange of information across industries, and an increase in competitiveness. SophiaTX is aimed at extending business applications such as SAP and also the integration of disruptive technologies such as IoT sensors, AI, Robotics and several others,” suggests Jaroslav Kacina, CEO of Sophia TX.
“Our partnership will deliver scalable enterprise-grade blockchain solutions with service and performance required by businesses. Additionally, the solution offers appropriate levels of compliance – SophiaTX works jointly with the “big four” advisory and audit firms to achieve required security standards and ISO certifications,” adds Kacina.
ArkTree plays a leading role in the enterprise-grade blockchain arena in South Africa by offering niche and insightful blockchain consulting expertise to its partners and customers. It also offers a specialized management accounting template solution for SAP customers, which takes profitability and cost management to the next-level when powered by the new in-memory technology.
SophiaTX, with its focus on innovation, is planning to release a multitude of use cases and applications in the upcoming months so that businesses can not only better understand the potential of blockchain but also significantly shorten time to market.