Arab-Brazilian Chamber of Commerce promotes transactions and opens start-up incubator with launching of ABCC 4.0 Space

Business

Arab-Brazilian Chamber of Commerce promotes transactions and opens start-up incubator with launching of ABCC 4.0 Space

Implementation of Ellos blockchain platform to ramp up digital transaction recording

ABCC Lab to assist start-ups planning to enter the Brazilian and Arab market

Innovation Committee to discuss technology-related concerns and strategies

August 31, 2021- As part of its mission to increase its social and technological standards to match international benchmarks, the Arab-Brazilian Chamber of Commerce (ABCC) declared the launch of ABCC 4.0 Space, which will facilitate further trade growth momentum between Brazil and the Arab world. The announcement was made in a webinar hosted by ABCC with the special participation of Marcos Pontes, Brazils Minister of Science, Technology, and Innovation.

During the event, ABCC unveiled three initiatives, namely the implementation of Ellos Platform to store all supply chain records digitally, the forming of the Innovation Committee to facilitate technology-related discussions, as well as the launching of the ABCC Lab, which is an incubator dedicated to start-ups planning to contribute to the continuous growth of the Arab and Brazilian markets.

I am truly honored to witness the growth of ABCC as we move toward a new era of technology and meaningful trade relations. The pandemic has spurred us to ramp up our digital transformation by exploring new technologies and frameworks through the Ellos blockchain platform, ABCC Lab, and the Innovation Committee, alongside virtual work setups and more to enhance business workflow. With the launching of ABCC 4.0 Space, we aim to connect Brazilian and Arab ecosystems, as well as disseminate information and expand our operations further. We expect our respective communities to benefit greatly from ABCC 4.0 Space as we continue to implement better strategies to advance our economic and diplomatic agenda. said Osmar Chohfi, President, ABCC.

Chohfi added As demonstrated by companies who achieved monumental success during the initial wave of the pandemic, investing in new manufacturing technologies is the key to maintaining production efficiency. We join the rest of the world in welcoming the fourth industrial revolution by integrating smart technologies and intelligent machines to automate processes, boost production quality, and minimize waste across our inter-continental trade community,.

ABCC developed Ellos Platform as a distributed digital ledger to enhance its supply chain documentation, effectively tracking all information relating to any product being sold across the Brazilian and Arab markets, including all commercial, banking, trade, and export transactions from end to end. Buyers will be able to access relevant product information upon scanning a QR code on its packaging, ensuring customer satisfaction and quality of goods. Within the blockchain, stakeholders will be able to review the involvement of manufacturers, transporters, point of sale (POS), and others through immutable data.

As an incubator for start-ups that focus to enter the Arab and Brazilian markets, ABCC Lab will focus on equipping start-ups with adequate training and promote networking among participants to improve the exchange of best practices in the innovation sector, and more. Through the project, ABCC plans to enhance enterprise-grade technology and innovation within the Arab-Brazilian trade community. In the meantime, the Innovation Committee will oversee all matters related to ABCC Labs progress and hold regular meetings to discuss trends and connect stakeholders.

ABCC is one of the chief catalysts of productive cooperation between Brazil and Arab countries. Operating for more than six decades, ABCC has partnered with governments and business associations to facilitate free trade agreements. It also continues to support brick-and-mortar shops alongside investing in modern technologies.