Posts Tagged ‘supply chain’
Blockchain for Airlines and Aircraft Leasing | LinkedIn
The aircraft leasing industry is one of the fastest- growing industries globally. A number of factors have resulted in this growth, including but not limited to, a year- on-year increase in passenger traffic, the rise of low-cost carriers (LCC) and the growth of the APAC market.
Given the nature of this capital-intensive industry, it is interesting to note some of the antiquated systems and practices, which are still commonplace. For example, the maintenance of an aircraft is a process that uses cumbersome databases at best and, at worst, a paper- based system prone to losses and errors throughout.
With the rapid rise of digital technologies in other industries, it seems only a matter of time until the aircraft leasing game is affected. To that end, this article will explore the potential benefits of adopting Blockchain technology in the aircraft leasing industry and assess a number of potential use cases, which have a truly disruptive potential for all stakeholders involved.
Source: Blockchain for Airlines and Aircraft Leasing | LinkedIn, Hans Casteels, IBM | September 4, 2018
Photo by Mircea Iancu from Pexels
Read MoreBrooklyn Roasting and IBM Send Yirgacheffe Through the Blockchain – Daily Coffee News by Roast Magazine
It’s an admirable effort, but there are some key omissions, first and foremost the price paid for the coffee, which is not shown in the blockchain ledger. Secondly, the suggestion that “fairness” or some vague concept of supply chain equity is bolstered by blockchain seems unfounded. IBM and Brooklyn Roasting show only the Fairtrade premium-associated investments back into the coffee-growing community — investments made in 2016, with or without blockchain technology.
So while opening the books is commendable, the opening itself is by no means a solution to deep-rooted problems affecting the equitable trade of coffee.
Source: Brooklyn Roasting and IBM Send Yirgacheffe Through the Blockchain – Daily Coffee News by Roast Magazine, Nick Brown | July 26, 2018
n-roasting-and-ibm-send-yirgacheffe-through-the-blockchain/” target=”_blank”>Brooklyn Roasting and IBM Send Yirgacheffe Through the Blockchain – Daily Coffee News by Roast Magazine, Nick Brown | July 26, 2018
Read MoreConsortium to Develop Blockchain for Bunkering
Documentation and administration are estimated to be one-fifth of the $1.8 trillion spent annually to move goods across borders. According to The World Economic Forum, by reducing barriers within the international supply chain, global trade could increase by nearly 15 percent.
Source: Consortium to Develop Blockchain for Bunkering, MAREX 2018-07-25
Read MoreThe Supply Side: Blockchain holds potential for retail applications – Talk Business & Politics
Coca-Cola is starting a pilot to use blockchain to identify inhumane labor conditions in its sugar supply chains. Coca-Cola plans to create a secure decentralized registry for workers and their contracts to help securely record their workers’ identities while providing a trail in case employers abuse their power.
Blockverify offers transparency to pharmaceutical, luxury, diamond and electronic supply chains. Blockchain works to verify counterfeit products, diverted goods, stolen merchandise and fraudulent transactions.
VeChain is a blockchain system that embeds customized chips into luxury products and allows manufacturers to trace the product from end to end. Consumers can scan a product with a mobile app to instantly know whether it’s real or fake.
NPD said the next step for retailers is to develop their own cryptocurrency to prevent customers from having to use credit cards when shopping online. NPD said the practice makes sense for the retailer, because if the customer could send the payment transfer via blockchain, it would avoid third-party clearing house fees retailers pay for processing card payments.
Source: The Supply Side: Blockchain holds potential for retail applications – Talk Business & Politics, Kim Souza, July 2, 2018
Read MoreSome Simple Economics of the Blockchain by Christian Catalini, Joshua S. Gans :: SSRN
They also challenge the existing revenue models and accumulated knowledge and resources of incumbents, and open opportunities for new approaches
Source: Some Simple Economics of the Blockchain by Christian Catalini, Joshua S. Gans :: SSRN, Christian Catalini & Joshua S. Gans, Written: Nov 2016. Last revised: 21 Sep 2017
Read MoreWhat Blockchain Can’t Do
As the ecosystem around blockchain technology develops, new types of intermediaries will emerge that turn the last-mile problem, of keeping digital records in sync with their offline counterparts, into actual business opportunities. While the technology is early stage, as these key complements mature, blockchain has the potential to fundamentally reshape ownership over digital data, and the digital platforms we use every day.
Source: What Blockchain Can’t Do, Catherine Tucker & Christian Catalini, June 28, 2018
Read MoreDeloitte Blockchain Boss Departs To Build Ethereum Supply Chain
there are a number of entirely new business models that could be tapped by moving the supply chain to a shared, distributed, immutable ledger.For example, Coble described future supply chain products that flipped the current system on its head by letting parts suppliers publicly broadcast real-time details about unused goods that could be used in any number of products.Coble described her vision for this type of functionality in the future:It provides an environment, a marketplace, for trading partners across the supply chain to be in one place. It allows for this new buy and sell functionality that has never been put together.
Source: Deloitte Blockchain Boss Departs To Build Ethereum Supply Chain,
Read MoreBlockchain-Based Marine Insurance Is Live
Over the first year of its use in a commercial environment, the group expects Insurwave to execute over half a million automated blockchain transactions for more than 1,000 vessels. EY also plans to extend the application to other types of business insurance, including global logistics, aviation and energy.
Source: Blockchain-Based Marine Insurance Is Live, Sead Fadilpašić, May 25, 2018
Read MoreWal-Mart and IBM want to harness blockchain to improve food safety | The New Food Economy
The Walmart-IBM software may facilitate digitization, certificate management, and interoperability. But while these things can improve traceability and transparency, the human element of the food supply chain is far more resistant to control and far less predictable. If the ultimate success of the blockchain relies on self-governance, we may be a long way from it being a food traceability backbone we can truly rely on.
Source: Wal-Mart and IBM want to harness blockchain to improve food safety | The New Food Economy, Jessica McKenzie, February 4th, 2018
Read More3 Innovative Ways Blockchain Will Build Trust In The Food Industry | Forbes
For example, let’s say dozens of customers fall ill with listeria after eating at a restaurant chain. The restaurant tests the food and discovers raw vegetables are the culprit. Using a blockchain track-and-trace solution, the restaurant will be able to track the serial number associated with the vegetable shipment back to the distributor and then to their original supplier. If they find the vegetables are contaminated, that supplier will immediately be flagged on the blockchain, and anyone who has sourced or bought the vegetables will be made aware of the danger.
Source: 3 Innovative Ways Blockchain Will Build Trust In The Food Industry | Forbes, Samantha Radocchia, April 26, 2018
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