Skip to main content

IBM Reveals Blockchain Supply Chain Trial with Singapore Port Operator

A major port operator in Singapore has inked a deal to work with IBM and a regional shipping firm to test a new blockchain-based supply chain network.
Announcing the news, PSA International, which operates ports in Asia, South America and Europe, said today that it has signed a memorandum of understanding with IBM and Pacific International Lines (PIL), one of the largest liner services in the world.
The three firms will "work together to explore [proofs-of-concept] using technologies like blockchain," according to an announcement published today. The goal of the trial is to automate the flow of documents between trading partners, providing transparency along the way.
Tan Chong Meng, group CEO of PSA, said of the deal:
"Blockchain has the potential to reduce inefficiencies and gaps within the supply chain, promote more cost-efficient transactions and facilitate the continued growth in world trade. PSA looks forward to working alongside its partners in supporting this initiative and we will contribute our expertise and knowledge in managing ports and advancing supply chains."
The tie-up represents the latest effort within the shipping sector to test the potential of blockchain to solve industry problems, a broad push that has seen some of the world's biggest ship operators and port authorities move to launch trials of the technology.
IBM, too, has built several projects focused on the supply chain use case to date. As reported by CoinDesk, the tech firm partnered with Danish shipping giant Maersk earlier this year, completing a live blockchain trial designed to automate documentation processing using smart contracts.

Comments

Post a Comment

Popular posts from this blog

Police Bust Alleged $13 Million Crypto Pyramid Scheme

Police in China's northwestern city of Xi'An have arrested the founders of a claimed nationwide cryptocurrency pyramid scheme that allegedly amassed 86 million yuan ($13 million) from over 13,000 people. According to a report  from local media source Huashang News, Wednesday, the scheme launched in March 28 this year after months in preparation by a primary suspect who has has the surname Zheng, as well as three other accomplices. The report cited an investigation from the police who said the scheme used a cryptocurrency called Da Tang Coin (DTC) that is linked to DTC Holding  - a firm under the suspect's control and registered in Hong Kong - to allegedly hoax potential members of the pyramid scheme. In various promotional events in multiple cities in the country, the scheme claimed that new members can make 80,000 yuan (roughly $13,000) per day with an initial investment of $480,000 to purchase the DBTC at $0.50 per token, according to the report. These promises o...
Post a Comment
Read more

Duncan Logan just tweeted that he's on board Electroneum

I have been a buyer and holder of bitcoin and Etherreum for a long time but this will be the first ICO I buy into--Duncan Logan. What is Electroneum? Electroneum (ETN) is a cryptocurrency that can be mined with a smartphone, requiring almost no technical knowledge or prior experience. This sets it apart from other cryptocurrencies (like Bitcoin) which require expensive hardware and technical know-how to mine. Electroneum’s unique mobile mining experience allows anyone with a smartphone to earn ETN coins by letting the miner app run in the background. It was designed specifically with mobile users in mind, thereby appealing to a potential market of 2.2 billion smartphone users around the world. Unlike other cryptocurrencies, Electroneum has a user-friendly, beginner-oriented interface that allows users to seamlessly transfer ETN coins between one another, check their balances, and mine coins. Being a  cryptocurrency , Electroneum is created, held, and spent electronical...
Post a Comment
Read more

How to spend your Bitcoin and Ethereum in South Africa

As Bitcoin and Ethereum gain popularity among investors, an increasing number of users are creating cryptocurrency wallets. The wallets are either hosted through an online provider or stored on the user’s hardware. From these wallets, cryptocurrency owners can make transactions on a blockchain, interact with exchanges and other users, and in the case of the Ethereum blockchain, programme autonomous contracts. Sending cryptocurrency through the blockchain is quick and easy, but using cryptocurrency in lieu of fiat currency is still limited. South African stores and services are slower to adopt cryptocurrencies than more developed countries, but users can still buy products locally with Bitcoin or Ethereum. Stores There is a growing list of stores in South Africa which accept Bitcoin as a payment option – many of which offer the option by allowing users to pay with  PayFast . PayFast has partnered with South African Bitcoin exchange Luno to provide users with a way to ...
Post a Comment
Read more