The Block http://nuitdustyx.com Blockchain Technology News Wed, 05 Aug 2020 10:43:57 +0000 en-GB hourly 1 http://wordpress.org/?v=5.4.2 http://nuitdustyx.com/wp-content/uploads/sites/10/2020/03/cropped-the-block-black-no-title-svg-32x32.png The Block http://nuitdustyx.com 32 32 The Block http://nuitdustyx.com/2020/08/blockchain-focused-venture-firm-electric-capital-raises-110m-in-seed-and-series-a-fund/ http://nuitdustyx.com/2020/08/blockchain-focused-venture-firm-electric-capital-raises-110m-in-seed-and-series-a-fund/#respond Wed, 05 Aug 2020 10:43:55 +0000 http://nuitdustyx.com/?p=9677 Electric Capital, an early stage venture firm which focuses on cryptocurrencies, blockchain and fintech, has secured a $110 million (£84.1m) seed and series A fund, focused on cryptonetworks and blockchain-enabled businesses. The company, whose bets include Coinlist, CryptoKitties and Oasis Labs among others, said the capital raised – its second fund – will go into... Read more »

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Electric Capital, an early stage venture firm which focuses on cryptocurrencies, blockchain and fintech, has secured a $110 million (£84.1m) seed and series A fund, focused on cryptonetworks and blockchain-enabled businesses.

2020欧洲杯投注盘口The company, whose bets include Coinlist, CryptoKitties and Oasis Labs among others, said the capital raised – its second fund – will go into five specific areas. These are decentralised finance (DeFi), particularly around insurance and credit scoring; community owned networks; fintech and marketplaces; payments, including browsers with micropayments; and privacy.

Its primary focus, however, remains programmable money, defined by IBM as ‘real money represented in digital form… [a] currency tracked with corresponding electronic ledger, most popularly blockchains, enabling a transactional record that is publicly and securely shared.’

2020欧洲杯投注盘口Electric Capital is exploring this in three focus areas: layer 1 protocols where the base token is a form of money and a token that may become a store of value; decentralised finance and community-owned networks; and crypto-enabled businesses and marketplaces.

2020欧洲杯投注盘口The company aims to focus on long-term investment and be the first investor to commit to a founder. Targeted companies will receive between $250,000 and $10m in tokens or equity.

“We are fortunate to partner with world-renowned university endowments and philanthropic foundations for our second fund,” Electric Capital said in a statement. “While it is common for these sorts of institutions to partner with traditional venture capital firms, it is rare for them to partner with cryptonetwork and blockchain-centric firms.

“We are grateful to be able to work with partners who offer financial aid to the world’s brightest students, provide free healthcare to those most in need, and support the world’s leading scientific researchers,” the company added.

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The Block http://nuitdustyx.com/2020/08/voatz-says-its-blockchain-voting-platform-complies-with-federal-guidelines/ http://nuitdustyx.com/2020/08/voatz-says-its-blockchain-voting-platform-complies-with-federal-guidelines/#respond Tue, 04 Aug 2020 11:39:02 +0000 http://nuitdustyx.com/?p=9674 Mobile voting provider Voatz has announced its platform is compliant with federal voting system guidelines, after ‘comprehensive’ testing by an independent lab. Pro V&V, a software and systems third party test laboratory, authored a 47-page report which concluded that Voatz ‘meets the applicable requirements set forth for voting systems’ according to US Election Assistance Commission... Read more »

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Mobile voting provider Voatz has announced its platform is compliant with federal voting system guidelines, after ‘comprehensive’ testing by an independent lab.

2020欧洲杯投注盘口Pro V&V, a software and systems third party test laboratory, authored a 47-page report which concluded that Voatz ‘meets the applicable requirements set forth for voting systems’ according to US Election Assistance Commission (EAC) guidelines.

2020欧洲杯投注盘口The testing, which took five months, assessed Voatz in various departments, from source code assessments, to security, to system integration. According to the report, during the security evaluation Pro V&V was ‘able to verify that the Voatz remote accessible ballot delivery, marking and return (RABDMR) [system] utlised a blockchain-based infrastructure from the server throughout the remainder of the process.’

Voatz is a mobile elections platform aimed at providing a secure voting method for non-traditional voting groups, such as overseas and deployed military citizens, as well as voters with disabilities. The company to date has completed 67 elections, including 11 governmental elections. Yet Voatz has not been exempt from criticism – rightly or otherwise.

In February, the Iowa caucuses, part of the Democratic Party’s activities for the 2020 US presidential elections, were beset by technical glitches, with many publications refusing to call a winner until days afterwards. At the time, criticism was aimed at Voatz, believing the company’s technology was part of the process. Voatz denied this, saying it was not involved in the Iowa caucuses.

Earlier that month, an MIT study found that Voatz had ‘significant security flaws’. Researchers said they had not found evidence that the app had been hacked, but noted vulnerabilities could have been exploited. The company replied that it ‘continued to welcome critiques’ of its technology to help provide additional security to any of its platforms.

2020欧洲杯投注盘口Announcing the Pro V&V verdict, Voatz added in the press materials that it had performed ‘as expected’ in each of the elections it had conducted.”We are pleased with Pro V&V’s conclusions that Voatz operates exactly as it’s designed to operate,” said Nimit Sawhney, Voatz co-founder and CEO. “Their fundings confirm our expectations, and add further fuel to support our mission that citizens can vote securely using a smartphone application and have total confidence their ballot is counted while remaining fully secret.”

You can read the full report here (pdf, no opt-in required).

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The Block http://nuitdustyx.com/2020/07/howdoo-becomes-hyprr-grabs-alpha-sigma-capital-funding-for-blockchain-social-network/ http://nuitdustyx.com/2020/07/howdoo-becomes-hyprr-grabs-alpha-sigma-capital-funding-for-blockchain-social-network/#respond Thu, 30 Jul 2020 10:21:29 +0000 http://nuitdustyx.com/?p=9671 Meet Hyprr. The startup, based out of Los Angeles, is looking to utilise blockchain technology to create a social network which offers greater control to users and creators. The company’s platform is powered by UDOO, a utility token, whereby users and content creators can utilise paywall features. Users can also generate income through likes and... Read more »

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Meet Hyprr. The startup, based out of Los Angeles, is looking to utilise blockchain technology to create a social network which offers greater control to users and creators.

2020欧洲杯投注盘口The company’s platform is powered by UDOO, a utility token, whereby users and content creators can utilise paywall features. Users can also generate income through likes and shares – much as Medium and other publishers do with claps.

2020欧洲杯投注盘口Hyprr was previously known as Howdoo, but earlier this week changed its brand to put the company ‘in a fantastic position for the mass market’, in the words of chief revenue officer Jason Sibley.

“The market has moved significantly over the last year, and the game has changed,” Sibley wrote2020欧洲杯投注盘口, citing augmented reality (AR) capabilities on Snapchat and music videos from TikTok.

2020欧洲杯投注盘口“Short-form video, music integration, streaming and augmented reality is now the norm, so we’ve rebuilt the platform to retain all the features that everyone loved in the beta and more including photos, videos, streaming, blogs and podcasting to incorporate all the new features that users have been experiencing.

2020欧洲杯投注盘口“Now factor onto these features the ability to tip, donate, pay for content and subscribe, and we have a world-beating platform,” added Sibley.

The company has also been bolstered by an undisclosed investment from Alpha Sigma Capital. CEO Enzo Villani said Hyprr’s digital assets monetisation system can help content creators who are finding their revenues squeezed by the major social media networks.

2020欧洲杯投注盘口Hyprr added that it has 70,000 pre-sign-ups for the platform and expects ‘multi-millions’ of users to sign up. “The collective following of launch supporters exceeds 350 million users, and while we’re not expecting them all to rush to join us, we do expect multi-millions – and that’s a great base for us to launch from,” added Sibley.

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.   

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The Block http://nuitdustyx.com/2020/07/daml-becomes-available-on-corda-with-production-and-enterprise-features-to-come/ http://nuitdustyx.com/2020/07/daml-becomes-available-on-corda-with-production-and-enterprise-features-to-come/#respond Wed, 29 Jul 2020 08:55:59 +0000 http://nuitdustyx.com/?p=9667 DAML, an open source language for constructing smart contracts, is now available commercially on R3’s Corda. The announcement came from digital finance technology provider IntellectEU. The company said that the move will enable developers to move beyond Kotlin, a general purpose programming language, to write and run applications on the platform. DAML on Corda is... Read more »

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DAML, an open source language for constructing smart contracts, is now available commercially on R3’s Corda.

The announcement came from digital finance technology provider IntellectEU. The company said that the move will enable developers to move beyond Kotlin, a general purpose programming language, to write and run applications on the platform.

2020欧洲杯投注盘口DAML on Corda is available now for development and testing, while production use and enterprise features are expected later this year.

2020欧洲杯投注盘口“This new offering brings the power, flexibility, and time to market advantages of DAML to the widely-adopted Corda platform, allowing our clients to deploy fully supported solutions to production on both Corda Enterprise and Corda Open Source,” said Thomas Bohner, vice president of IntellectEU in a statement. “Clients can move their DAML applications between platforms without recoding, eliminating vendor lock-in and de-risking complex programs.”

DAML is maintained by Digital Asset, and part of its role is to partner with infrastructure providers. As sister publication CloudTech reported last April2020欧洲杯投注盘口, VMware announced its integration plans, with the company later participating in Digital Asset’s series C funding round. Last June, Digital Asset said that partners HACERA and Blockchain Technology Partners had successfully integrated DAML with Hyperledger Fabric and Corda on Amazon Web Services.

Earlier this week, it was reported that banks across Italy were using Corda to significantly improve the process of checking transaction logs. The incumbent system, of interbank reconciliation, can take up to 50 days on average. Banking is a key use case for Corda, as well as for DAML. A partnership announced in April last year saw Digital Asset working with Everis to build applications utilising smart contracts for automation and synchronisation of multi-party transactions in the banking sector.

Kelly Mathieson, chief client experience officer at Digital Asset, said the company was ‘impressed’ by IntellectEU’s ‘commitment to and knowledge’ of DAML. “DAML ensures developers only focus on business logic without worrying about the underlying ledger’s technology,” said Mathieson. “It also allows enterprises to defer their ledger choice until the application has met the necessary business requirements, creating a better fit of the technology to the use case.

“We look forward to working with IntellectEU as we grow the DAML community on Corda.”

Photo by James Lee on Unsplash

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The Block http://nuitdustyx.com/2020/07/the-time-to-digitise-hidden-value-is-now-how-blockchain-can-help/ http://nuitdustyx.com/2020/07/the-time-to-digitise-hidden-value-is-now-how-blockchain-can-help/#respond Mon, 27 Jul 2020 12:10:04 +0000 http://nuitdustyx.com/?p=9664 48% of CEOs don’t trust blockchain technology. Yet 84% are curious about the compelling benefits that it offers.  In today’s tumultuous markets, moving from an investigative mindset to one that overcomes apprehension and mistrust is critical to the “digitisation of value.?Rooting out hidden value buried in legacy systems or money being left on the... Read more »

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48% of CEOs don’t trust blockchain technology. Yet 84% are curious about the compelling benefits that it offers. 

In today’s tumultuous markets, moving from an investigative mindset to one that overcomes apprehension and mistrust is critical to the “digitisation of value.?Rooting out hidden value buried in legacy systems or money being left on the table due to inefficient processes means turning to technologies that can unite physical and virtual worlds in a way to support enterprise models and processes. 

Whether by choice, neglect or habit, outmoded systems leave significant value behind, a luxury that can no longer be afforded. C-suite leaders must take prompt action as a matter of survival. Just as the internet digitised communications, blockchain and smart contracts will radically transform how business is executed and systematically capture hidden value. 

Today’s pandemic and economic downturn have made things very clear: all businesses must find ways to reduce costs and operate on thinner margins. Doing so is paramount to survival, and companies cannot achieve this without adopting technologies that will uncover more money. 

Extracting value from current processes

Numerous organisations are beheld to costly legacy systems or decades-old technology infrastructure. For example, for the US government to maintain 10 legacy systems, the cost to taxpayers is an astounding $337 million a year. Elsewhere, enterprise organisations spend approximately 80% of IT budgets2020欧洲杯投注盘口 to support existing systems.

Additionally, clunky, paper-based and manual workflows require significant administrative resources and lack the capabilities to be unilaterally shared, which feeds redundant, siloed efforts. These interoperable processes hinder inter- and intra- company information sharing and further exacerbate transactional frictions across business relationships, particularly when it comes to contract executions and payments. 

2020欧洲杯投注盘口Smart contracts backed by blockchain technology can streamline operational inefficiencies, automate invoicing and payment processes to free up cash flow and provide real-time insight into the financial health of a company; something that’s hard to do when juggling legacy, disparate systems and outdated technology solutions.

How blockchain frees up working capital

2020欧洲杯投注盘口In business relationships, achieving traditional consensus between companies in contracts is time-consuming and expensive due to the fact that each participant has their own version of data or events ?hence the massive need for the monthly reconciliation of invoices and elongated day sales outstanding (DSO).

With blockchain, real-world events are captured in an immutable, third-party digital record that can be shared across participants. In any transactional relationship between businesses, vendors, suppliers and so on, blockchain enables access to the value that is hidden in current processes through visibility, transparency, accuracy and speed. By leveraging existing systems like business processes, data sources and connected Industrial Internet of Things (IIoT) devices, a holistic picture of truth can be tethered to contract performance and execution.

Smart contracts function as software programs that capture operational terms of a legal contract between companies. Smart contracts use performance metrics, leverage operational data and other information sources from legacy systems to ensure and verify that transactional obligations are fulfilled then triggers automated payments. 

Examining the invoice, for example 

Most companies experience long payment cycles rife with disputes and manual reconciliation processes that cause significant drag. By transacting on a blockchain network, service providers can get paid at speed, and counterparties only pay for what is actually received or performed thus bringing great efficiency to existing processes. 

2020欧洲杯投注盘口One example of an archaic business concept is that of the paper invoice. When pumping gas at the gas station, one swipes a credit card and pays on the spot for the transaction as it occurs in real-time. With business contracts, instead of instantaneous transactions, payments are stuck in long cycles, delayed by paper records and invoicing, dispute and reconciliation procedures.

With much value to be realised in inefficient processes, the data exists to render commercial invoicing obsolete. Having human “checkers?essentially checking correctness is a facet of the past or at least one that can be chalked up to wasteful (but deeply ingrained) procedures. Blockchain is designed to provide access to neutral, third-party distributed source information. It does this by reaching across multiple companies and systems to pull specific from field data and other IIoT sources, and store required data in its distributed ledger. The technology then triggers payments and is therefore a new way of capturing efficiencies and rooting out existing hidden value. 

Act now, not later: Value can’t wait 

The opportunity to reduce cost inefficiencies and free up working capital exists in improving business processes across sectors like that of construction, legal and oil & gas2020欧洲杯投注盘口. Blockchain powered smart contracts can take a multistep process and reduce it to two steps. The implications are tremendous, particularly during an economic downturn as companies must figure out how to run on thinner margins with no end in sight. 

2020欧洲杯投注盘口Turns out that the best time to realise value locked in existing systems is to revisit processes and look to digitisation and automation opportunities to capture money that is being left on the table. It’s possible to get to this new level of granularity with existing systems by forging a new way of doing business: one that’s on the blocks. 

Read more from the same author: Blockchain for a brighter future in 2020 and beyond

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The Block http://nuitdustyx.com/2020/07/chronicled-partners-with-deloitte-for-blockchain-in-life-sciences-and-healthcare/ http://nuitdustyx.com/2020/07/chronicled-partners-with-deloitte-for-blockchain-in-life-sciences-and-healthcare/#respond Thu, 23 Jul 2020 14:15:37 +0000 http://nuitdustyx.com/?p=9661 Chronicled, a US-based provider of blockchain platforms for smart supply chains, has announced a partnership with Deloitte to bring blockchain-based solutions to life sciences and healthcare. The companies will come together to utilise technology and solutions powered by Chronicled’s MediLedger network. Among the use cases to be trialled included a solution to help fight fraud... Read more »

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2020欧洲杯投注盘口Chronicled, a US-based provider of blockchain platforms for smart supply chains, has announced a partnership with Deloitte to bring blockchain-based solutions to life sciences and healthcare.

The companies will come together to utilise technology and solutions powered by Chronicled’s MediLedger network.

2020欧洲杯投注盘口Among the use cases to be trialled included a solution to help fight fraud for potential Covid-19 medication. MediLedger’s product verification offering can ‘enable pharmacies and hospitals to authenticate high risk or suspect products’, the companies said, working through a barcode scan which verifies product data against the original manufacturer’s data.

2020欧洲杯投注盘口“Chronicled has the potential to radically reshape the way product is tracked and managed within the healthcare ecosystem,” said David Carlson, managing director of Deloitte Consulting LLP. “As the life sciences industry moves quickly to get innovative therapies to market during this critical time, stakeholders are looking for solutions that enhance pricing transparency while creating an efficient mechanism to exchange product use and financial information.

2020欧洲杯投注盘口“Chronicled is an important player in the effort to better collaborate across the value chain and Deloitte is well positioned to drive large scale industry transformation,” Carlson added.

Readers of this publication will be aware of Chronicled through its previous funding. The Block reported on the company in January 2019 after its $16 million series A round was completed. At that time, the MediLedger Network was being piloted with hopes of a commercial launch later that year.

Deloitte published its 2020 Global Blockchain Survey in June, which found two in five (39%) of the almost 1,500 senior executives polled had moved their blockchain projects to production. More than four in five (83%) said they would lose competitive advantage if they didn’t adopt blockchain technologies.

Chronicled is also launching a second offering this summer. The product, called Contracts & Chargebacks, is aimed at eliminating disputes in the chargeback process between manufacturers, distributors, and group purchasing organisations.

Photo by 🇨🇭 Claudio Schwarz | @purzlbaum on Unsplash

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The Block http://nuitdustyx.com/2020/07/wef-article-explores-how-blockchain-could-be-key-to-equitable-covid-19-vaccine-distribution/ http://nuitdustyx.com/2020/07/wef-article-explores-how-blockchain-could-be-key-to-equitable-covid-19-vaccine-distribution/#respond Mon, 20 Jul 2020 04:40:17 +0000 http://nuitdustyx.com/?p=9650 Blockchain will be an ‘essential’ and ‘integral’ tool in distributing a potential Covid-19 vaccine, according to an article published by the World Economic Forum (WEF). In a note published by Punit Shukla and Amey Raiput, WEF project lead and fellow for blockchain and digital assets, alongside Sid Chakravarthy, CEO at supply chain technology provider StaTwig,... Read more »

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Blockchain will be an ‘essential’ and ‘integral’ tool in distributing a potential Covid-19 vaccine, according to an article published by the World Economic Forum (WEF).

2020欧洲杯投注盘口In a note published by Punit Shukla and Amey Raiput, WEF project lead and fellow for blockchain and digital assets, alongside Sid Chakravarthy, CEO at supply chain technology provider StaTwig, success in global distribution will require leveraging tools and capabilities such as blockchain in a way ‘never seen before.’

Geographical disparity is a major inhibitor to widespread rollout. Polio immunisations in India, for instance, took 16 years to cover the entirety of the under-five population in the country. WEF estimates that with an approved vaccine, close to 10 billion doses will need to be in the supply chain to cover the entire global population, assuming a 20%-30% loss in transit and storage.

Another potential roadblock is through political and economic machinations. The US, for example, has bought almost all of the next three months’ projected production of Covid-19 treatment remdesivir. WEF argues an ‘equitable’ supply chain is needed.

“There must be a global consensus on who should get it first, one not based on who can buy it first,” the note said. “Such an equitable supply chain can only be built on a doubtless, openly verifiable, consensus-driven system having immutable integrity of data with no single source of control.

2020欧洲杯投注盘口“To achieve the global optimum, instead of a national or regional optimum, vaccine access will critically depend on an information system with the highest possible integrity, capable of avoiding forces of vested interest,” it added. “Thus, blockchain and distributed ledger technology will be essential for an equitable Covid-19 vaccine distribution.”

2020欧洲杯投注盘口StaTwig has been part of an initiative testing a vaccine supply chain management platform which looks to give all stakeholders total visibility of vaccines at all levels and across all stages of the supply chain. The solution has been tested with UNICEF program teams in the Middle East and North Africa, as well as India.

2020欧洲杯投注盘口Yet the key takeaway from the WEF note is that more needs to be done, also noting the importance of Internet of Things (IoT) technologies in this effort. “Efforts to build an open system to track and trace every vaccine dose accurately and transparently will be required to build a global consortium of vaccine researchers, pharmaceutical companies, manufacturers, distributors, healthcare workers and governments,” the note explained.

“Blockchain technology allows us to do this at scale, building trust and transparency which will reduce the vaccine wastage rates, eliminate stockouts and ensure a truly equitable distribution of the Covid-19 vaccine to the entirety of human population.”

For all the good intentions around blockchain technology for distribution, it must be noted that a Covid-19 vaccine remains hypothetical. More than 140 candidate vaccines are currently being tracked by the World Health Organisation (WHO), with only a handful so far having completed the first of three phases of clinical testing.

You can read the full WEF article here.

Read more: World Economic Forum advocates ‘thoughful’ blockchain implementation for supply chain post-Covid-19

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The Block http://nuitdustyx.com/2020/07/volvo-doubles-down-on-blockchain-play-with-circulor-investment/ http://nuitdustyx.com/2020/07/volvo-doubles-down-on-blockchain-play-with-circulor-investment/#respond Mon, 20 Jul 2020 03:37:26 +0000 http://nuitdustyx.com/?p=9647 Volvo has announced an investment in Circulor, a blockchain technology provider, as the company looks to further its ambitions in the sector. The investment in Circulor is focused on providing greater traceability for cobalt in Volvo’s supply chain, with Volvo Cars Tech Fund, the venture capital arm of the automotive manufacturer, contributing alongside SYSTEMIQ, Total... Read more »

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2020欧洲杯投注盘口Volvo has announced an investment in Circulor, a blockchain technology provider, as the company looks to further its ambitions in the sector.

The investment in Circulor is focused on providing greater traceability for cobalt in Volvo’s supply chain, with Volvo Cars Tech Fund, the venture capital arm of the automotive manufacturer, contributing alongside SYSTEMIQ, Total Carbon Neutrality Ventures and Plug & Play.

2020欧洲杯投注盘口Cobalt is used significantly in lithium ion batteries, a rechargable battery which is key for powering electric cars, of Volvo and various other manufacturers. Its provenance, however, is less environmentally acceptable.

According to multiple estimates, between two thirds and three quarters of the world’s cobalt supply is sourced from the Democratic Republic of Congo, a country with a very poor record on working conditions and child labour. The BBC among others reported in December that many tech giants, including Tesla, were indicted in a lawsuit following deaths and injuries of child miners in the African nation.

As a result, automotive firms are striving for a more responsible supply chain – with blockchain seen as useful to establishing provenance. Volvo, through Circulor’s technology, said its battery supply chain will ‘achieve 100% traceability of cobalt’ used in its first fully electric car, the XC40 Recharge P8. Production of the car will begin later this year in Belgium.

The Responsible Sourcing Blockchain Network (RSBN), an organisation which aims to provide stronger human rights and environmental protection in mineral supply chains, has various automotive players among its members. Ford and Volkswagen were among the founding members, with Volvo joining in November and Fiat Chrysler following a month later2020欧洲杯投注盘口. Volvo’s membership coincided with an announcement from the RSBN that its digital supply chain for cobalt had progressed beyond the pilot stage, although updates on moving to production have been thin on the ground since.

“We are committed to an ethical supply chain for our raw materials and our partnership with Circulor has been instrumental in that regard,” said Martina Buchhauser, Volvo Cars chief procurement officer. “By supporting Circulor’s ongoing development we can expand the use of blockchain technology in our operations and contribute to a more sustainable business.”

Volvo and Circulor will also align on other areas, including potentially tracking and reducing CO2 footprints. Mercedes-Benz is one automotive manufacturer exploring this path, announcing a pilot in February for transparency on CO2 emissions in the cobalt supply chain.

Photo by Adam Cai on Unsplash

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The Block http://nuitdustyx.com/2020/07/smuckers-works-with-farmer-connect-for-blockchain-based-coffee-transparency/ http://nuitdustyx.com/2020/07/smuckers-works-with-farmer-connect-for-blockchain-based-coffee-transparency/#respond Thu, 16 Jul 2020 08:27:52 +0000 http://nuitdustyx.com/?p=9643 The J.M. Smucker Company is working to ‘pioneer a new era in coffee transparency’ by utilising blockchain technology. Smucker’s is partnering with Farmer Connect, a startup which utilises IBM’s blockchain to tackle traceability in the farm-to-fork journey. The company came to prominence when launching its consumer-facing provenance app at this year’s CES – which until... Read more »

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2020欧洲杯投注盘口The J.M. Smucker Company is working to ‘pioneer a new era in coffee transparency’ by utilising blockchain technology.

Smucker’s is partnering with Farmer Connect, a startup which utilises IBM’s blockchain to tackle traceability in the farm-to-fork journey. The company came to prominence when launching its consumer-facing provenance app at this year’s CES2020欧洲杯投注盘口 – which until this year was hardly a hive of blockchain activity.

Now, that consumer-facing app has a major client on board. Once consumers scan a QR code on their bag of coffee, their device will take them to the Thank My Farmer website, which provides information about where their coffee was grown, processed and exported. The coffee being trialled by Smucker’s is the 1850 100% Colombian bagged.

The company cited a study from the IBM Institute for Business Value which found 71% of those surveyed, who said sustainability was very important, would pay a premium for sustainable and environmentally responsible brands.

“We know that consumers are increasingly interested in transparency in the supply chains for the products they enjoy, and we have been committed to helping promote this as part of our coffee sustainability strategy,” said Joe Stanziano, SVP and general manager of coffee at The J.M. Smucker Company.

2020欧洲杯投注盘口“Our work with Farmer Connect and IBM not only helps connect coffee lovers to the producers who provide their favourite morning drink, it also gives them the opportunity to support these hardworking smallholder farmers and their families.”

2020欧洲杯投注盘口Speaking to this publication at CES in January, Jason Kelly, general manager for blockchain services at IBM, said sustainability drives will continue to increase, both from blockchain and other emerging technologies. “IBM is seeing blockchain act as a catalyst for AI, IoT, and automation across the industry at large, from provenance of electronic components in the supply chain, to consumer confidence and trust in products and services, including ethical sourcing and sustainability of what makes up those products,” he said.

Read more: From bean growing to bean counting: Farmer Connect launches coffee provenance app with IBM blockchain

Photo by karl chor on Unsplash

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.  

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The Block http://nuitdustyx.com/2020/07/port-of-rotterdam-launches-blockchain-pilot-picks-up-from-iot-projects/ http://nuitdustyx.com/2020/07/port-of-rotterdam-launches-blockchain-pilot-picks-up-from-iot-projects/#respond Tue, 14 Jul 2020 14:23:10 +0000 http://nuitdustyx.com/?p=9640 The Port of Rotterdam is undertaking a blockchain-based pilot project around container handling, following on from its various initiatives around the Internet of Things (IoT). The latest project, as detailed on the port’s website, is focused around handling and releasing containers without a PIN code. The Secure Container Release application will replace the PIN code... Read more »

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2020欧洲杯投注盘口The Port of Rotterdam is undertaking a blockchain-based pilot project around container handling, following on from its various initiatives around the Internet of Things (IoT).

The latest project, as detailed on the port’s website, is focused around handling and releasing containers without a PIN code. The Secure Container Release application will replace the PIN code with a digital signal, utilising blockchain technology to ensure authorisations are not stolen or copied along the supply chain process.

Blockchain in this project is likened by the company to a relay race; ‘the token is a kind of digital baton that smoothly passes from one party to the next’, it added.

2020欧洲杯投注盘口The project has a varied list of participants, from shipping firms CMA CGM and Hapag-Lloyd, to businesses such as Rotterdam Fruit Wharf, as well as the application developer, T-Mining. The token, of which there is only one for each container, will aim to ensure third parties do not gain access to confidential information, including T-Mining.

Regular readers of sister publication IoT News will be aware of the work the Port of Rotterdam is already undertaking in that arena. Working alongside partners such as IBM and Cisco, the port’s IoT platform2020欧洲杯投注盘口 uses an extensive network of sensors to provide accurate, up-to-date information to aid the planning and management of shipping.

“By taking advantage of new technologies, we can make our port operations smarter, swifter, more efficient and safer,” said Emile Hoogsteden, director of commerce at the Port of Rotterdam Authority. “During this project, the different participants will be using a blockchain application that enables them to safely and efficiently organise the release procedure followed by the various parties in the chain.”

Rotterdam is not the first port authority to explore blockchain pilots. Last March, as this publication reported, the Marseille-Fos Port undertook a project involving blockchain technologies for freight transportation.

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.  

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