Enterprise Ethereum Alliance Unveils Common Blockchain Standards – CoinDesk

By Stan Higgins      May 16, 2018

The Enterprise Ethereum Alliance announced the release of a common technical specification on Wednesday, fulfilling a pledge the group made less than a month ago at an event in London.

Enterprise Ethereum Client Specification 1.0, unveiled during CoinDesk’s Consensus 2018 conference in New York, comes weeks after Jeremy Millar, a founding board member of the 500-plus-member group, spoke about the importance of common standards as a way to connect development efforts across the enterprise-focused, ethereum-based initiative.

It’s a significant moment for the group, which launched at the start of last year with backing from major corporates like British oil giant BP, Wall Street bank JPMorgan Chase and Microsoft, as well as stakeholders in the blockchain work such as ethereum startup studio ConsenSys, Nuco and BlockApps, among others. CoinDesk first reported on the group’s work in January 2017.

More at: Enterprise Ethereum Alliance Unveils Common Blockchain Standards – CoinDesk

Hyperledger blockchain project adds 13 new members – EconoTimes

April 27, 2018

Hyperledger, a collaborative cross-industry blockchain initiative, has announced the joining of 13 new members.

The new members come from diverse backgrounds including healthcare, finance, and technology. The latest general members to join include Beijing Proinsight Technology, CAREiQ, Distributed Ledger Technologies (DLT) Pte Ltd., Eden Partners, Ehave, Inc., Equidato Technologies AG/SophiaTX, Globlue Technologies, InformAmuse S.r.l., IPCHAIN Association, Paramount Software Solutions Inc. and Till Payments.

Associate members joining this month include Blockchain at Berkeley and Zhejiang Blockchain Technology Application Association.

More at: Hyperledger blockchain project adds 13 new members – EconoTimes

Linux Foundation Adds More Blockchain Companies to Its Ranks – Bitsonline

By Reed Schlesinger      April 1, 2018

The Linux Foundation, a nonprofit enabling mass innovation through open source software, has officially announced the addition of 35 silver members and three associate members. That list includes the likes of Bank of America as well as blockchain based services providers MATRIX and Xage Security.

Greater Collaboration Between Open Source Leaders

More technology leaders around the world accept that sharing intellectual and infrastructure resources is a needed step to connect the world economy. The importance of the Linux Foundation, which focuses on building sustainable open source ecosystems, continues to grow.

Most recently at the Open Network Summit, the foundation announced the addition of 35 new premium members such as Twilio, Beijing Truth Technology, and Intuit. These companies have committed to contribute to or support open source communities and projects.

Executive director of the Linux Foundation Jim Zemlin elaborated on his feelings regarding the large list of new additions:

“It is exciting to welcome so many wonderful organizations from across technology, finance, education, transportation, communications and other important industries into The Linux Foundation…We look forward to working with them and the broader open source community to continue building new and better innovative technologies.”

More at: Linux Foundation Adds More Blockchain Companies to Its Ranks – Bitsonline

Four-company consortium develops new blockchain system to secure shipping data – Transport Security World

March 23, 2018

The shipping industry has been given a fresh opportunity to strengthen the security of their data that could spell the end of paper documentation, after a five-organisation consortium developed a blockchain solution that could also bring annual cost savings of hundreds of millions of dollars.

AB InBev, Accenture, APL and Kuehne + Nagel and a European customs organisation has devised and tested a system on 12 real shipments that does away with physical and even digital documents, replacing them with a form of access that is securely protected by blockchain. Should the technology enter operation it would help to streamline the process and improve security; international shipments typically require more than 20 different documents – many of which are often paper-based.

Making that documentation particularly susceptible is the fact that around 70% of the data contained within them can be replicated, opening up the very real possibility that information can be forged that could at the very least bring about major delays. A distributed ledger technology, blockchain establishes a shared, immutable record that lends itself well to international shipping. This is because each company’s data is inherently resistant to modification, thanks to a near-impenetrable level of encryption that requires confirmation from all participants in the network before any changes can be made.

More at: Four-company consortium develops new blockchain system to secure shipping data – Transport Security World

Accenture completes trial of ocean-going blockchain platform – Finextra – Press Release

Source: Accenture      March 16, 2018

A consortium comprising AB InBev, Accenture, APL, Kuehne + Nagel and a European customs organization has successfully tested a blockchain solution that can eliminate the need for printed shipping documents and save the freight and logistics industry hundreds of millions of dollars annually.

The consortium tested a solution where documents are no longer exchanged physically or digitally but instead, the relevant data is shared and distributed using blockchain technology under single ownership principles determined by the type of information. Through a detailed review of the current documentation processes, the group examined a re-allocation of information ownership, accountability and risk enabled by the trust and security blockchain technology offers.

More at: Accenture completes trial of ocean-going blockchain platform – Finextra – Press Release

Oil Buyers Ditch Paper for Blockchain to Track Tanker Sales – SWI swissinfo.ch

Bloomberg      February 26, 2018

(Bloomberg) — Every day, dozens of oil tankers — some as long as five football fields — set sail for ports around the world carrying millions of barrels of crude and a piece of paper that generations of sea captains have held as dear as their cargo.

The bill of lading is the document that verifies ownership of a commodity that can be worth more than $122 million per ship. Without it, buyers and sellers who trade $2.7 billion of crude daily are unable to do business in an ocean-going tanker market that supplies almost half of the oil consumed globally.

But some of the biggest producers, traders and banks want to do away with the bill-of-lading system, along with other forms of time-consuming record keeping required for every transaction. To trim costs and cope with tighter profit margins, the industry is eyeing the methods used to track and verify cryptocurrencies like Bitcoin using a shared online ledger known as blockchain.

“The way we do our title transfers and post trade execution is very heavy on paperwork,” said Alistair Cross, global head of operations Mercuria Energy Group Ltd. “And the paperwork hasn’t really evolved over the last couple of hundred years.”

More at: Oil Buyers Ditch Paper for Blockchain to Track Tanker Sales – SWI swissinfo.ch

BNSF becomes first Class-I railroad to join Blockchain in Transport Alliance – EconoTimes

February 7, 2018

BNSF Railway Company (BNSF), a leading North American freight transportation company, has become the first Class I railroad to join the Blockchain in Transport Alliance (BiTA).

Formed in August 2017, BiTA aims to promote the adoption, education, and development of a standard framework around blockchain in the freight industry. It counts over 200 freight transportation companies as its members which includes the likes of FedEx, SAP, UPS, Salesforce, and Schneider, among others.

More at: BNSF becomes first Class-I railroad to join Blockchain in Transport Alliance – EconoTimes