MineHub Technologies Inc. announce its collaboration with TradeWaltz Inc. after a successful proof of concept involving a copper ore import from Sumitomo Corporation. The companies intend to integrate their blockchain-based platforms to enable a seamless connection of mining & metals supply chains with digital trade services in Japan. TradeWaltz Inc. is a company owned by a consortium of ten leading Japanese corporations including Mitsubishi Corporation, Toyota Tsusho Corporation, Mitsui-Soko Holdings Co.

Ltd., Nissin Corporation and MUFG Bank, which has developed, with support from the Japanese government, a cross-industry trade collaboration platform that fully digitizes trade processes in Japan. MineHub is a platform for digitizing global supply chains, with a focus on mining & metals, and which has been co-created with leading corporations in the mining & metals industry, including Sumitomo Corporation. Like MineHub, TradeWaltz is a blockchain-based platform and has already demonstrated a 45-60% increase in operational efficiency.

As the first step of the collaboration, a proof of concept was conducted on March 23, 2022, using a Sumitomo Corporation copper ore import transaction. The results suggest up to a 60% improvement in business processing efficiency. The companies also presented the results at the Digital Trade Conference hosted by the International Chamber of Commerce UK on April 7, 2022.