Two major Singaporean maritime companies have inked a deal with technology giant IBM to explore and trial blockchain technology for supply chain networks.
Singaporean shipping giant Pacific International Lines (PIL), one of Asia’s largest shipowners, and the Port Authority of Singapore (PSA), one of the world’s largest port operators, have entered a memorandum of understanding (MoU) are jumping on the blockchain bandwagon with a memorandum of understanding (MoU) with IBM Singapore.
The three parties will unite to work on proof-of-concept blockchain solutions to enhance the security, transparency and efficiency of the supply chain network in south eastern Asia.
Singapore is among the world’s largest hubs for trade and travelers whilst commonly seen as the gateway to Asia from the west. Any implementation of blockchain technology for regional supply chain operations and trade finance will prove to be a significant endorsement of the decentralized innovation most prominently known as the core technology behind cryptocurrencies like bitcoin.
More at: Singaporean Shipping Giants Partner IBM for Blockchain Trial – Cryptocoins News
The oil and gas industry has seen huge advances in the extraction of resources, thanks to cutting edge technologies like fracking. But it hasn’t exactly been a leader when it comes to digital adoption.
That could change, at least when it comes to the blockchain, the distributed ledger technology behind cryptocurrency bitcoin. Though they are slower to adopt the technology than those experimenting with it in finance and tech, some oil and gas industry players are exploring ways the technology could be used for everything from commodities trading to tracking flows coming from oil and gas fields.
More at: Blockchain technology could extend to oil and gas transportation – Houston Business Journal
Tracking and visibility will speed process for truckers hauling into and out of ports
Final mile logistics can be a pain. Picture a 40-foot container traveling from Mainland China to a suburb of Los Angeles. It often experiences more complications between the Port of LA and final destination than it does during its international trip. But why?
A variety of factors contribute to headaches of the final mile. Culprits that immediately come to mind include equipment availability, congestion, communication, and documentation. While still on the horizon, blockchain may help alleviate some of those final mile difficulties.
Concept or reality?
Blockchain will revolutionize global supply chains across the board. In concept, it could apply to every conceivable aspect of logistics from transactions to tracking to asset management. In theory, this technology can further secure and streamline every step of the supply chain. However, its full-scale application still remains to be seen. Many people are familiar with Bitcoin. Fewer have heard of blockchain. Some professionals know about the benefits of blockchain, however the ledger remains an enigma to most.
More at: Port of call: Enlisting blockchain’s help in container movements — FreightWaves
eMotorWerks tests a distributed, peer-to-peer charging marketplace that’s like Airbnb for EVs.
A residential electric car charger spends most of its time just hanging around unused.
That underutilization looked like a opportunity to Val Miftakhov, CEO of the smart charger startup eMotorWerks. On Tuesday, the company launched a beta test of a distributed, peer-to-peer charging marketplace in California that lets drivers pay each other for use of their home chargers.
If successful, this concept could drastically expand the population of readily available EV chargers, at least in places with a high density of home charging stations. That reduces range anxiety, promoting more EV ownership and potentially generating a virtuous cycle.
For a charger company like eMotorWerks, this is part of a broader strategy to move from selling hardware alone to offering software that generates value beyond the initial purchase.
More at: Blockchain-Enabled Electric Car Charging Comes to California – Greentech Media
Security and transparency key features of new digital ‘car passport’
Oil-stained logbooks could soon become a thing of the past thanks to a new innovation from Renault.
The French manufacturer has developed a new tamper-proof and secure digital car maintenance book that will offer unprecedented security and transparency.
Developed in conjunction with VISEO and Microsoft, the data is secured by Blockchain technology and is described as a “car passport”. Renault says it has a fully operational prototype model ready.
More at: Renault launches digital logbook – motoring.com.au
Market potential of blockchain lies in managing aircraft assets.
“Blockchain is one of the most discussed and intriguing technologies out there today,” observes Bas de Vos, director of IFS Labs at IFS. “It is a huge, global distributed ledger or database running on many devices and open to anyone within the blockchain. Its purpose is to ensure a 100% secure, verifiable and traceable database protocol.”
The IFS researcher thinks blockchain has a huge, untapped market in managing commercial aircraft assets. Of the two to three million parts on a commercial aircraft, it is crucial to know the provenance and maintenance history of many.
Yet participants in asset lifecycles, manufacturers, transporters, maintainers and operators, have disparate systems for managing assets. “Often, these records are incomplete or non-digitized, and communication is often conducted on paper or even verbally,” de Vos says. “Lack of standardization leads to limited traceability, and the cost for non-compliance can be high.”
More at: How Might Blockchain Be Used To Manage Aircraft Assets? – MRO-Network.com
Russia’s biggest airline is now issuing passenger tickets on a blockchain with support from the country’s largest private bank.
According to a local report by the media outlet Kommersant, the airline S7 and its ticketing agent S7 Ticket reportedly began the sales on the ethereum blockchain this week. Lending support is Alfa-Bank, Russia’s biggest private banking institution.
The report notes that the platform is designed to reduce settlement times between between the airline and the agent, which today take around two weeks. It further strives to streamline the payment process by deducting the agent commission automatically after ticket sales to reflect the final receipt.
More at: A Russian Airline Is Now Using Blockchain to Issue Tickets – CoinDesk