Blogs

We spoke about how blockchain has been raising up a storm last month. In this month, we at ODeX announced the launch of our Blockchain based KYC platform. We, of course, believe in the power of blockchain and how it can revolutionise the industry. What is the update on blockchain’s progress in the industry? Chinese Blockchain Agreement to Bolster Silk Road Chinese blockchain company Yuanben has signed an agreement with a new platform for cross-region cooperation called the Maritime Silk Road Platform to protect global maritime freight data. Maritime Silk Road Platform, which has established logistics networks in locations such as Hong Kong, Guangzhou and Shanghai, is an online booking service that displays information about global shipping routes. As part of the agreement, blockchain technology will be used to provide node deployment, digital content deposit certificates, and a search interface for cargo tracking. Blockchain will also be used to create an automatic identification system (AIS), which enables land-based companies to access the tracked course, speed and current bearing of their fleet. Source: https://www.porttechnology.org/news/chinese_blockchain_agreement_to_bolster_silk_road First Ever Blockchain-Based CargoX Smart B/l Successfully Completed Its Historic Mission The container, processed with the revolutionary new blockchain-based CargoX Smart Bill of Lading™, has been released successfully in the Port of Koper, Slovenia (EU), where it arrived on Sunday, 19 August 2018, completing its journey from Shanghai (China) aboard the cargo ship Ever Safety, and was shipped by one of the world’s largest freight forwarders. The Bill of Lading for this shipment has been issued electronically and transferred with the help of an ultra-secure and reliable public blockchain network in just minutes instead of days or weeks, and the chances of loss, theft or damage to the Bill of Lading have been dramatically reduced to near-zero. Source: https://www.marineinsight.com/shipping-news/first-ever-blockchain-based-cargox-smart-b-l-successfully-completed-its-historic-mission/ Samsung Signs Korea Blockchain MoU Samsung’s IT subsidiary, Samsung SDS, has signed a memorandum of understanding (MoU) with Korea Customs Service (KCS) to develop the world’s first blockchain-based customs service. The MoU also includes 48 other businesses or organisations, such as government authorities, and is intended to prevent fraud and improve efficiency in the customs industry By using Nexledger, Samsung SDS’s enterprise blockchain platform, stakeholders will be able to share relevant documents related to such processes as manufacturing and delivery of shipment seamlessly throughout the supply chain. The platform also allows real-time transaction processing in smart contracts, as well as a management monitoring system for various industries, including finance, manufacturing and the government administration. Source: https://www.porttechnology.org/news/samsung_signs_korea_blockchain_mou