Business ExpandingDLT Labs, a Canadian company that promotes digital transformation (DX) of supply chains with blockchain technology, starts full-scale business in Japan

In 2020, DLT Labs collaborated with Walmart Canada and brought a large-scale industrial blockchain solution into full operation using DL Asset Track™. Walmart Canada's domestic distribution involves shipments of 500,000 items per year to over 400 stores in Canada using all third-party carriers that transport domestic merchandise, which results in massive delivery transaction data, and requires enormous amount of payments and reconciliations with the carriers. By using blockchain technology to automate the collection and management of this data and verify transactions, the reliability in transactions is ensured across multiple companies, and significant cost savings are delivered.

In response to the growing demand for the company's technology to innovate the supply chain with digital power, the company established DLT Labs Japan in Tokyo in March 2020. In March 2021, as part of the "NEOBANK®" service provided by SBI Sumishin Net Bank, the two companies agreed to begin studies on the construction of a platform for DX support services and supply chain finance services for operating companies. Examining the possibilities of DX support and supply chain financing for companies in the logistics and construction fields moving forward, the company launches full-scale business in Japan.

Upon establishing the company in Japan, JETRO's Invest Japan Business Support Center (IBSC) provided consultation (registration, visa, tax, labor), PR support, searching for business partners/business matching, information on subsidies and incentives, arranged meetings with local governments, and introduced service providers (real estate agencies).