Millions of dollars are lost every year, not due to logistical problems, but rather due to the inability share digital data in a reliable way. Costs of audit, tariff overpayments, lack of real-time visibility of assets and superfluous back office costs represent north of 1 billion for the Canadian oil industry every year. While many companies have gone through massive digital transformations the reality is that when information is shared with other organizations companies go back to the old traditional paper flow, since there is yet a secure industry standard to exchange data.
Steel & Commodities
The overproduction of steel at global level is putting a huge strain on north American production. Counterfeit, potential transshipment, lack of real-time information and an unstable regulatory framework results in the reduction of the competitivity of local industries. A single source of truth, automatic fraud detection through AI and the ability to prove origination and provenance of products in real-time is expected to become a must across the industry.
The financial services industry is getting disrupted by the digital transformation of processes and assets. Now more than ever it is paramount for enterprises to gain access to streamlined settlement, decentralized exchange platforms and secure data. These have the power to unlocking the value of digital assets, faster audits and instant payments.
Media & Entertainment
The media industry is rapidly evolving, while viewers are demanding rewards for their attention, content providers need a secure and easy way to calculate and distribute royalties instantly.