NETOPIA Payments, the largest electronic payment processor in Romania, announces an investment in the SupplyBlockchain bootstrap, a SaaS (Software as a Service) B2B platform that adds transparency in logistics chains using blockchain technology to record exact date and location of physical products.
According to the SupplyBlockchain representatives, traders report billions of dollars worldwide losses due to fraud and losses in the distribution and transport chains. In most cases, financial losses are covered by insurers, but these situations affect all members of the commercial ecosystem, respectively manufacturers, distributors, transporters and, last but not least, buyers.
“One of the main issues of the transport and logistics industry is the lack of transparency and independent tracking of products along the distribution chains. A good example is the recent case of the Craiova person who found a piece of plasticine instead of an iPhone purchased with RON 6,800. SupplyBlockchain solves such problems by adding a layer of security and transparency to logistics processes using blockchain technology,” said Sebastian Cochinescu, CEO and founder of SupplyBlockchain.
SupplyBlockchain, Inc. was established in 2018 in the US and has clients in the transportation, logistics and freight industries. Since last year, companies that have decided to become customers of SupplyBlockchain have substantially reduced their losses by using this innovative system. This year, the company will expand its US customer portfolio to a market where transport, insurance and e-commerce losses are exponentially higher.
In December 2018, Sebastian Cochinescu, founder and CEO of SupplyBlockchain, won the third prize of PatriotFest’s “Creativity for Security” section (a competition organized by MAPN, MAI, SPP, STS, SRI and New Strategy Center) SupplyBlockchain addressed to military and national security structures.
The SupplyBlockchain team also includes people with extensive business experience in the technical and legal industries, such as Alin Gabriel Zainescu (VP of Sales & Marketing, SupplyBlockchain / Strategic Business Consultant, Zainescu Consulting), Antonio Eram (Business Advisor SupplyBlockchain / CEO and NETOPIA Payments co-founder), Felix Crisan (Technical Advisor SupplyBlockchain / CTO and NETOPIA Payments co-founder), Vlad Andrei (Strategy Advisor SupplyBlockchain / Managing Partner Albaron Ventures) and Traian Paicu (Legal Advisor and Angel Investor).
“I have always been interested in investigating how many practical applications of blockchain technology can be integrated into a company to streamline activity at all levels. That’s why I’m glad to announce that we are expanding our NETOPIA Payments investment portfolio with a startup that uses state-of-the-art innovation to solve some of the most common, costly problems faced by a large number of businesses across industries,” said Antonio Eram.