Largest Indian e-Com Firm Mjunction, Shipnext Partner to Use Blockchain for Logistics and Shipping

The largest e-commerce company in India, Mjunction Services Limited, has recently decided to start a partnership with Shipnext, a global maritime company that uses the blockchain technology for shipments. This new partnership will see the companies working together to boost the efficiency of Mjunction’s supply chain in a way that the company will be able to do it faster and spending less.

The CEO of Mjunction, Vinaya Varma, has affirmed that this partnership will certainly be able to bring some value to the clients of the company. The CEO of Shipnext, Alexander Varvarenko, is also a believer of this. He affirmed that this will attract more traffic for his own company at the same time that the Indian company will be helped.

In related news, the Russian shipping company Infotech Baltika has also announced the launch of a very similar service which will use the blockchain technology in order to operate ports in Russia and Europe. The project was created together with Iconic, a Moscow-based startup.

About Mjunction Services

Mjunction Services Limited is an Indian company that was born from a joint venture of the Steel Authority of India and Tata Steel. It is currently the largest e-commerce company in the country and it has a big share of the world’s steel marketplace at the moment.

The company also offers services in other areas such as e-finances and e-retail. Ship operators will be able to participate in this new initiative to transport cargo from the companies. Shipnext will be the one fully responsible for all the Know Your Customer (KYC) requirements of this.

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Gabriel Machado
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

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