By Alex Behrens May 15, 2018
Blockchain protocol development organization Devvio announced on Monday that its Devcash blockchain has achieved impressive results. It notched up over 2.5 million on-chain transactions per second, compared to the five transactions per second currently processed by the Bitcoin network and an estimated 24,000 transactions per second processed by Visa.
Devvio CEO Tom Anderson stated, “These results let us build a business upon the most scalable blockchain protocol in existence. When you combine this level of scalability with our stability solution, our fraud/theft/loss protections, and our privacy approach, our protocol represents a viable solution for the future of financial transactions across the world, including areas such as payment processing and Forex trading. I feel we have the most exciting technology in one of the most important up-and-coming technological fields.”
More at: Devcash Blockchain Clocks in at 2.5 Million Transactions per Second – Blockchain News
“Paid for post from Oracle Technology Blog” May 10, 2018
Blockchain is set to transform how retailers do business and bring transparency to all stages of the supply chain.
Over the past few months, I have been researching the exciting world of blockchain and learning about this technology. I believe that the use of blockchain could create an entirely new eco-system of commerce and transacting across the world, and across all industries.
I am looking at blockchain through the eyes of a retailer and at how this new world can shape the future business model for retailing.
The basic premise of blockchain is as a decentralised, open ledger of information (to permitted participants), where the data is held on many distributed ledgers around the world.
All ledgers hold the same information for the data in question and any changes to this data are trackable, with all ledgers carrying the same copy of the data, enabling transparency and trust across the network.
More at: Breaking down blockchain: The supply chain ledger – Retail Week
By Ali Raza April 30, 2018
Cardano (ADA) team managed to solve one of the biggest issues regarding the prove-of-stake algorithm, which turned out to be security. The tweet posted yesterday by Charles Hoskinson includes a video where Professor Kiayias talks about the breakthrough from the IOHK lab, dedicated to blockchain tech.
The importance of the breakthrough
Professor Kiayias of the IOHK team stated that new blockchain enthusiasts do not have to be in possession of any previous knowledge regarding the number of system’s active users. This is something that was always seen as a problem when it comes to prove-of-stake since it brought a lot of security problems with it. Prove-of-stake is much better when it comes to scalability than proof-of-work which is why the advancement in question is a big deal for Cardano ADA. Basically, because of it, Cardano is one of the most secure and scalable blockchains on the market, and its security can even rival the one of Bitcoin.
According to the Professor Kiayias lecture, the Cardano team is extremely excited about the new development. It is their goal to make Cardano the best available platform, instead of just gaining popularity. This can also be seen in the IOHK team’s efforts of making a light wallet. The team knows that the wallet’s cryptography needs improvement in order to truly become the light wallet.
More at: A Big Breakthrough for Cardano (ADA): Prove-Of-Stake Finally Solved – GlobalCoin Report
By Cloudleaf (sponsored content) March 15, 2018
Global competitive markets are eclipsing local economies and jurisdictions by forcing supply chain ecosystems to evolve. Enterprises are following suit and digitally transforming their businesses in order to broaden their reach on the world-stage.
Editor’s Note: The following article is brought to you by Cloudleaf in partnership with the Supply Chain Network.
Global competitive markets are eclipsing local economies, time-zones and jurisdictions by forcing supply chain ecosystems to evolve. Enterprises are following suit and digitally transforming their businesses in order to broaden their reach on the world-stage. These globally integrated supply chains have the potential to facilitate cooperative stakeholder relationships and help enterprises quickly source materials from a wider network of suppliers at lower cost. Tomorrow’s supply chains represent catalysts of innovation that enable unique technology solutions to deal with the complexities of running highly autonomous, perpetual operations in discrete and process manufacturing.
However, coming down from the 30k foot view, the realities on the ground can be quite different. In the global economy, many enterprises continue to struggle with maintaining transactional security, product quality, and keeping counterfeit materials out of their supply chains. And on the front lines, operation managers are under more pressure than ever before to keep products flowing, stay productive, and cut costs; all while working within an ever expanding ecosystem of supplier inputs and distributor outputs. So any interruption in the flow of goods, and the materials that go into them, is enough to keep operation managers up at night. Inaccurate inventory levels, down equipment or misplaced assets have the potential to set off a cascade of failures that ripple through the supply chain, increasing costs and introducing valuable opportunities for the competition.
More at: Blockchain is the New Supply Chain – Supply & Demand Chain Executive (sponsored content)
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
By Priyankar Bhunia March 6, 2018
The trial was conducted jointly by PSA International, Pacific International Lines (Pte) Ltd and IBM Singapore. For the next stage, the scope of the POC will be widened and more participants engaged from the different nodes of the distribution network that form the supply chain logistics ecosystem.
PSA International (PSA), Pacific International Lines (Pte) Ltd (PIL), IBM Singapore (IBM) have successfully concluded a blockchain-based supply chain trial.
PSA is one of the world’s largest port operators with over 40 terminals in 16 countries across Asia, Europe and the Americas and flagship operations are in Singapore and Antwerp. PIL is ranked 11th amongst the top containership operators in the world, offering container liner services and multi-purpose services at over 500 locations in 100 countries worldwide.
More at: Blockchain trial successfully tracks and traces cargo movement from Chongqing to Singapore – OpenGovAsia
February 21, 2018
CargoX is going to use blockchain to make shipping processes more efficient by digitizing Bill of Lading (B/L), one of the most important documents in the shipping process.
It aims is to disrupt the global logistics industry by using blockchain to introduce smart B/L and eliminate paper versions of the legal document between the shipper and carrier which detail the goods a ship is carrying.
The company, a spin-off from an existing container booking platform business 45HC, which has an office in Hong Kong, but is based in Ljubljana, Slovenia, has already started raising money.
It reached a target of US$ 7 million through an ICO on January 23, 2018, with the initial coin offering (ICO) — an unregulated means by which a company raises funds for a new cryptocurrency — lasting 7 minutes and 40 seconds.
This is an impressive feat, but what is the company hoping to solve through its blockchain solution?
PTI Editor Laurence Doe spoke to Stefan Kukman, Founder and CEO of CargoX, to find out more.
More at: CargoX Q&A: How Blockchain is Evolving Bills of Lading – Port Technology International
In International Shipping News February 21, 2018
The shipping agency that struck the first freight deal settled in Bitcoin is now seeking $150 million to launch its own cryptocurrency.
Prime Shipping Foundation, a partnership between Gibraltar-based Quorum Capital Ltd. and ship broker Interchart LLC, is looking to raise the funds by midyear in a so-called initial coin offering. Using its own cryptocurrency would ease conversions into and out of traditional currencies, speeding settlement, according to Chief Executive Officer Ivan Vikulov.
The company was the first to execute a freight deal in Bitcoin, shipping 3,000 tons of Russian wheat to Turkey at the end of last year. While the freight charges were billed in the cryptocurrency, using digital coins to pay for the actual commodities has proven to be difficult. That’s because their lack of liquidity makes it harder to convert higher-value deals quickly into fiat currencies, he said.
“The conversion in and out of Bitcoin can sometimes take one or two days, and that’s not fast enough,” Vikulov said. “Ours will take a few seconds.”
More at: Commodities Shipper Seeks $150 Million to Start Digital Coin – Hellenic Shipping News Worldwide
January 31, 2018
NetDocuments, a cloud platform for legal IT, says it has completed a proof of concept for the integration of NetDocuments’ cloud platform with blockchain technology, enabling firms to validate document existence, details, status, and metadata via a verified and distributed digital ledger.
Incorporating blockchain technology into NetDocuments’ governance platform enables sensitive and transactional documents to be verified by posting to an open-source digital ledger, validating document details such as canonization, approval, status, filing and other relevant document information. Verified documents will retain a blockchain ID, ensuring accuracy through a distributed digital trust network. The technology integration includes blockchain certification of content stored in NetDocuments as well as certification of contents in local device storage.
More at: Blockchain Integration Proof of Concept for Legal Market – Database Trends and Applications