May 24, 2018
The state of South Carolina slapped a cease-and-desist order to a blockchain startup due to an alleged statute violation. The company is called ShipChain and is involved in freight product tracking using ethereum-based blockchain tech. It’s also a member of the Blockchain in Transport Alliance, which counts JD.com, FedEx, and other major companies in the shipping industry among its echelon.
To be specific, the order highlights that ShipChain continuously proffered investment opportunities to South Carolina residents via digital token despite the startup being unregistered to conduct such business. If the order passes, it will mandate ShipChain to cease “participating in any aspect of the securities industry in or from the State of South Carolina.”
The fledgling shipping business has 30 days to request a hearing on the case. When granted audience, the startup can dispute that the tokens offered do not qualify as an unregistered securities offering. The company writes on its website that customers can pay via tokens to book freights for shipping products. The tokens are the only form of payment that the platform acknowledge.
In Texas, a Bitcoin investment startup has also been hit with a cease-and-desist order earlier this month due to the company conducting business without being registered to the proper agency. The order outlined that the startup lured investors with blinding numbers that return on their investments is 100 percent guarantee in just 21 days with no risk whatsoever. This type of businesses are classic scams that are taking advantage of the growing popularity of blockchain and cryptocurrency.
More at: Blockchain Startup Slapped with Cease-and-Decease Order – EconoTimes
By Roshni Vayyapuri May 15, 2018
Fred Smith, chairman and CEO of the American multinational courier delivery services company FedEx, said to sources, “Blockchain has the potential to completely revolutionize what’s across the border.” He stated this while speaking at Coindesk’s Consensus 2018 in New York. He wants to embrace blockchain technology to establish and maintain to be on the top in a rapidly changing digital world.
He went on to explain that logistics and transportation industry is facing one prominent issue, “massive amount of friction” in cross-border logistics. The friction is majorly due to the differences in standards, regulations, and terminologies.
While speaking to the audience he told, “For cross-border shipments, ‘trust’ is a legal requirement for every transaction. What blockchain has is a potential for the first time ever to make the information available for everybody.”
It was earlier in February this year FedEx joined the Blockchain in Transportation Alliance (BiTA) to explore the potential opportunities along with other partners in the same industry. They also introduced an innovative pilot program to manifest what information would be required for a blockchain to mitigate between customers using FedEx. They also want to store records using distributed ledger technology.
More at: FedEx CEO: Blockchain has the potential to revolutionize logistics industry – BCFocus
By Delton Rhodes May 14, 2018
The vision of an autonomous trucking fleet is already becoming a reality for some freight companies. Uber, Waymo, Tesla, and Embark are all working on this technology. While autonomous driving is an interesting technology in itself, its application for the trucking industry has even greater potential when combined with blockchain technology for supply chain logistics. Here is an outlook on how blockchain-based trucking will change the future of the global supply chain.
How will this new system function?
While many of the major blockchain projects (i.e. Bitcoin, Ethereum, and others) are focused on building public P2P payment systems, blockchain for the autonomous trucking industry would function as a private B2B logistics system. What this means is that not everyone would have access to shipment information. Instead, only relevant parties along the supply route would know the exact details and updates of shipments. Manufacturers, shippers, carriers, brokers, and the end customer are a few of the parties who could have access to this information.
Many supply chain industry experts think that blockchain is necessary because of its potential to solve many of the current market problems. Essentially, one of the biggest factors that could lead to further adoption of distributed ledger technology is the trucking industry’s ongoing fragmentation.
More at: Autonomous Trucking and Blockchain Technology: Advancing Supply Chain Oversight – CoinCentral
By Tim Sandle April 2, 2018
– OpenPort is a Hong-Kong based digital logistics platform that uses blockchain technology to transform domestic distribution in emerging markets. To discover the advantages of this technology, Digital Journal spoke with CEO Max Ward.
A report conducted by DNV GL, the global quality assurance and risk management company, indicated that only 20 percent of businesses have published information about their supply chain.
In order to improve transparency of the supply chain network, the model designed by OpenPort model aims to provide this together with security, while also reducing logistics costs. This is through the utilization of blockchain technology.
To discover more about blockhain for the supply chain and OpenPort’s functionality Digital Journal spoke with OpenPort CEO Max Ward
Digital Journal: How is blockchain shaping businesses?
Max Ward: We are seeing a wave of cross-sectoral blockchain adoption at the moment, with a host of industries utilizing the technology as a means of increasing transparency, efficiency and security. While initially designed to verify digital currency transactions, businesses are now tapping into the power of blockchain technology to digitize and secure documents and product information, creating a secure, irrefutable record.
More at: Blockchain’s impact on the supply chain space: Interview (Includes interview) – Digital Journal
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
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
By Veronika Rinecker March 6, 2018
Germany-headquartered car manufacturing giant Daimler AG, famous for its Mercedes-Benz and Smart brands, presented its own Blockchain-based digital currency MobiCoin at the Mobile World Congress 2018 in Barcelona, Cointelegraph auf Deutsch reported on March 5.
The project, which started in February 2018, was created to reward drivers for environmentally-friendly driving habits, i.e. smooth and safe driving at low speeds. The project will be in its testing phase for the next three months, during which 500 drivers who follow eco-friendly driving practices will be rewarded with MobiCoins.
According to Cointelegraph auf Deutsch, data from the vehicles will be transmitted to Daimler and converted into MobiCoins, which will be stored in a mobile app. Participants with the most MobiCoins will reportedly receive VIP tickets for events such as the DTM Races, the MercedesCup Final, or Fashion Week in Berlin. However, it is not known whether drivers will be able to convert the MobiCoins to fiat currency or other cryptocurrencies.
More at: Auto Giant Behind Mercedes-Benz Launches Crypto Coin To Reward Eco-Friendly Driving – Cointelegraph