Mjunction to use Shipnext’s blockchain to improve supplychain management

Domestic steel trading online major mjunction has joined hands with blockchain shipping firm Shipnext to revamp its supply chain functionalities. The alliance with Ukranian firm is slated to facilitate introduction of value-added offerings on mjuntion – a joint venture between two steel in the country, SAIL and Tata Steel.

According to Alexander Varvarenko, founder and CEO of Shipnext, “mjunction’s large cargo base is expected to attract more traffic, shipowners and ship operators to Shipnext platforms.” In terms of trading value, mjunction is considered to be the largest e-commerce platform in the country which in the recent years has also diversified into e-finance, e-retail and other services.

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