Blockchain-enabled platforms can successfully connect all players in the shipping value chain and advance critical capabilities.
EY and Guardtime, as well as other industry and technology leaders, present the “first of its kind” enterprise-scale platform to integrate and secure the entire stream of disparate data sources involved in insuring shipments around the world.
When risks ebb and flow, should insurance premiums adjust?
Mark Parzygnat’s, Program Director, Blockchain at IBM presenting to the Startup Breakfast Club in Montreal and taking questions from the audience. Mark introduces Hyperledger from both an enterprise and startup perspective.
Source: Hyperledger Project: Opportunities for developers and enterprises – developerWorks TV | YouTube recording (1:44:41), Februrary 6, 2018Read More
IBM Global Financing reduced time spent resolving financial disputes by 75% using blockchain technology.
Thanks Mark Parzygnat!Read More
Presently, many shipping supply chains are bogged down by a morass of paperwork shuffled between a glut of middlemen, Wieck says. Documentation, which when lost or delayed causes perishable goods lying in wait to spoil, can end up costing as much as a fifth of the total expense of physical transportation.
According to a 2013 study by the World Economic Forum, reducing the friction around information-sharing and border administration when it comes to international trade “could increase GDP by nearly 5% and trade by 15%”—a boost that amounts to trillions of dollars.
Source: Shipping: IBM, Maersk Are Creating a New Blockchain Company | Fortune, Robert Hackett, January 16, 2018Read More
One day last December, Frank Yiannas went to a Walmart store near company headquarters in Fayetteville, Ark., and picked up a package of sliced mangoes. Yiannas is Walmart’s vice president of food safety, and the fruit was part of a crucial experiment. He brought the mangoes back to his office, placed the container on a…Read More
From insurance to airplane manufacturing, to tracking a fruit’s shipping history.
On a larger scale, the Pathbuilder group supported Stora Enso’s transformation into a global renewable materials company. In 2006, 70% of revenues and 60% of the company’s profits still came from paper; today the new growth businesses contribute 67% of sales and 76% of profits. Since 2011 the share price has more than doubled. The culture is also evolving and improving, as evidenced by an annual survey that tracks the main levers for the transformation, including innovation and sustainability, leadership, team, and engagement.
Here’s how the Pathbuilder program succeeded — and how you can implement it at your company.
Source: How the World’s Oldest Company Reinvented Itself | HBR, Albrecht Enders and Lars Haggstrom, January 30, 2018Read More
While the days of full-scale adoption may be well off, it would certainly behoove attorneys to stay abreast of developments in both blockchain and cryptocurrencies. As this technology breaks further into the mainstream, attorneys should be prepared not only to counsel clients, but to implement these new tools in a way that elevates the quality and value of our professional services.
See estate planning and land title records use cases.
Source: Bitcoin’s Blockchain Tech Could Bring Sweeping Innovation to Legal Industry | The Legal Intelligencer, Matthew Decker, January 24, 2018Read More
But you know, if you’re doing an ICO and the token represents a share in the company that’s called a security, it should fall under securities legislation. But we need microsurgery on this new economy. We don’t need to bring a chainsaw to it. This would be one of the three most important rate determining factors in terms of what countries emerge not just with the Blockchain industry, but with the whole new innovation economy. Do governments do the right thing and implement sensible legislation or did they mess it up?
The supply chain industry globally is a $64 trillion industry and supply chains are going to move to Blockchain. You can see that with Foxconn doing this now, we’ve done a case on that. On the Walmart food sale they use Blockchain for food safety. The biggest supply chain in the world ever is the ‘One Belt One Road’ project linking Hong Kong and Rotterdam. All the trade and finance and a lot of the supply apps on that are being done via Blockchain.
Blockchain is perfect for situations where you have a buyer and a seller and escrow agent, and governments, and various shippers, and tax authorities and so on. Instead of passing pieces of paper and faxing, and emails and so on, they have a single shared network state where they can all instantly see what’s going on. It turns that supply chain into something we call an asset chain. And ultimately, this thing becomes cognitive. It really becomes a new cognitive computer. That’s where the supply chain will be.
Source: Don Tapscott: “We Need Microsurgery on This New Economy” | News | Cointelegraph | News | Cointelegraph, January 29, 2018
Thanks, Ahmed!Read More
Over time, travellers can build up their credibility as “Known Travellers,” giving them access to special screening lanes in airports, and allowing border officials to devote more time and resources towards screening lesser known, higher-risk travellers.
Source: Canada testing ‘digital ID’ system that uses blockchain, biometrics to screen travellers – National | Globalnews.ca, Rahul Kalvapalle, January 27, 2018
Thanks, Massimo!Read More