CargoSmart, the leading shipment management solution provider, announced its completion of the proof-of-concept with eTradeConnect, the blockchain consortium located in Hong Kong, on November 5. This partnership aims at improving the global trade through enhancing collaboration among the shippers, terminal operators, banks, and ocean carriers. CargoSmart limited empowers numerous companies to transform their global supply chains digitally, that the world wants it to see. It was founded in the year with the headquarter in Hong Kong.
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- Maritime Industry in Search of Blockchain Orchestrator!
- CargoSmart, Cosco and Tesla in blockchain trial
- CargoSmart Launches Blockchain Service for Faster Documentation Processes
- Tesla Involved in Chinese Blockchain Shipping Pilot
- BlockChain Race: Maersk Gets Second Carrier to Join Its Platform
- IQAX Powers GSBN’s Blockchain Platform
- CargoSmart completes blockchain proof-of-concept
- Use of Blockchain Helps Speed Global Shipping Transactions
- CargoSmart, Oracle Using Blockchain to Speed Global Shipping Transactions
- CargoSmart Completes Proof-of-Concept with eTradeConnect
Maritime Industry in Search of Blockchain Orchestrator!
But it also opens the door to connecting the consortia of firms clustered on the two platforms. The technical aspects include ironing out the exchange of information across networks in a format the other side can digest.
Enterprise blockchain is a team sport, as is often heard among the distributed ledger technology DLT set. However, groups of companies are often aligned with particular platforms even when, in some cases, they are addressing the same use case shipping container tracking, for instance and using the same underlying open-source blockchain such as Fabric. Both consortia also include a range of shipping ports around the world, as well as freight forwarding companies and the like, meaning any step towards harmonizing these projects has potentially enormous value to the participating industry players.
The blockchain teams at IBM, Oracle and SAP, who all know each other, are perhaps more sanguine about creating a harmony between firms participating on different deployments of Fabric. The decision-makers on the business side might see things differently. You still compete in the field, we will do that every day. The deal is an advance purchase agreement between Novavax and Israel's Ministry of Health. In its press release on the matter, Novavax wrote that it "will work with the Ministry of Health to obtain the necessary authorizations and finalize plans for distribution in Israel pending regulatory approval.
Jim Cramer has never been shy to use buzzers and bells to make the occasionally esoteric world of finance more interesting. The stock market was having a generally strong day on Friday, with all three major averages in the green, led by the tech-heavy Nasdaq.
There are a couple of reasons Affirm is such an outperformer today. The beginning of has not been kind to the stock market. Major indices are down, inflation is up, and […]. Investors may soon be able to preserve their retirement war chest for longer. Announcing a new Fortune customer was all it took for Knightscope to boost its shares well past their public offering price. This past month has seen the bears come out, as the market has entered a correction.
Looking at the macro situation from Oppenheimer, chief investment strategist John Stoltzfus would advise investors not to turn pess. Yahoo Finance's Julie Hyman and Brian Sozzi discuss the market open, why Chevron shares are down, and Caterpillar warning of rising costs in its earnings call. The hydrogen technology company's stock was down roughly There doesn't appear to be any fresh, company-specific news sending the hydrogen technologies specialist's shares lower this week, but it's not surprising to see the stock down double-digits at a time when investors have a mounting collection of risk factors to consider.
The addition of Xilinx is an important growth catalyst for AMD. Advanced Micro Devices Inc. Stocks traded mixed Friday morning as investors took in earnings results from some major tech companies and another hot print on inflation at the end of another volatile week. High-dividend stocks can be misleading. Here's a smart way to find stable stocks with high dividends. Watch these eight dividend payers on IBD's radar. Just as a good tv series always leaves you with a cliffhanger, 3M NYSE: MMM earnings report left investors wondering just where the company might be heading in Full-year organic sales growth came in at 8.
Tesla's stock rode a roller-coaster this week, dogged by doubts about sales and production goals. Nvidia GPUs power self-driving cars and cloud gaming, with the chip giant also expanding fast into the metaverse. Is Nvidia stock a buy? Markets closed. Dow 30 34, Nasdaq 13, Russell 1, Crude Oil Gold 1, Silver Vix CMC Crypto FTSE 7, Nikkei 26, Read full article.
Ian Allison. Story continues. Recommended Stories. Motley Fool. Insider Monkey. American City Business Journals. Yahoo Finance Video. Yahoo Finance. Investor's Business Daily.
CargoSmart, Cosco and Tesla in blockchain trial
CargoSmart, the software division of the Hong Kong headquartered Orient Overseas Container Line, intends to overhaul the cargo delivery procedure utilizing blockchain application. The conventional documentation procedures of the shipping sector consume considerable time and cost, making the entire industry less competent. CargoSmart has been carrying out research and development of its application to minimize shipping broker and consignee authentication stage. The company intends to digitize the documentation procedures and minimize the aggregate time for collecting goods from shipping ports, thereby minimizing delivery period.
CargoSmart Launches Blockchain Service for Faster Documentation Processes
While ocean shipping has been steadily growing in recent years, multiple pressures are impacting the predictability of the far-flung supply chains and pressuring industry profits. Key to navigating these challenges for shippers, ocean carriers, terminal operators, and other parties involved with shipping ocean freight is better visibility and real-time access to information. But things are changing thanks to the help of emerging technology and the formation of a new blockchain consortium in this space pioneered by CargoSmart. For the last year, CargoSmart and Oracle have been working together to develop a blockchain solution that aims to simplify the shipping documentation process and deliver a single source of truth for trusted, real-time sharing of information, thereby increasing trust and boosting efficiency. This not-for-profit joint venture aims to accelerate the digital transformation of the shipping industry, with CargoSmart providing the resources underpinning it. Sign in. Log into your account. Forgot your password? Password recovery. Recover your password.
Tesla Involved in Chinese Blockchain Shipping Pilot
Tesla is using blockchain technology to speed up the import process in China. CargoSmart noted that the pilot was conducted in December and it used blockchain technology to share relevant shipping data and documentation with Tesla and other concerned parties. New to blockchain technology? Think of an ATM machine. A blockchain is a peer-to-peer system that has no central authority that manages data flow.
BlockChain Race: Maersk Gets Second Carrier to Join Its Platform
Global trade, one of the earliest business practices in the world, is still a major economic driver for countries around the world. The value of world merchandised trade in totalled USD The entire global commerce process is powered by millions of business entities, surfing the waves of the global GDP. For continued prosperity, businesses must adapt to volatility. The strongest embrace opportunities, exercise agility, and dynamically implement new solutions to get work done.
IQAX Powers GSBN’s Blockchain Platform
Trade finance products are proliferating in the liner shipping market as more technology-backed approaches seek to connect shipment and shipper data with reducing lending risk. Photo credit: Shutterstock. Linking shipment data to trade finance decisions is becoming more common, evidenced by the shipment management software provider CargoSmart working with four banks and two shipping lines to speed applications for financing services and expand the ability of banks to extend credit to small and medium enterprises SMEs. CargoSmart said Tuesday it has completed a proof of concept linking two blockchain networks — one tied to financial services and the other to data. That connection allows eTradeConnect, a multi-bank blockchain consortium in Hong Kong facilitated by the Hong Kong Monetary Authority HKMA , to access relevant data from ocean carriers and terminals to shorten the shipping documentation validation process those banks typically undertake to approve financing services for shippers. CargoSmart offers software primarily to shippers to manage global logistics and customs compliance processes. The company has been developing, in tandem with Oracle, a consortium aimed at using blockchain to reshape core global trade processes, called the Global Shipping Business Network GSBN. The private version of blockchain technology is based around a distributed ledger that permissioned parties can contribute to and access.
CargoSmart completes blockchain proof-of-concept
HK , Deloitte, and CargoSmart have successfully connected multiple distributed ledger technology DLT networks for a platform to enhance efficiency for the shipping industry worldwide by digitising document exchange between forwarders and carriers, as well as improving the traceability of shipping documents. Completed in December , the platform's proof-of-concept POC is interoperable across different DLT and cloud networks commonly used by participants in global trade and finance. Distributed ledger is a technology that could simplify the complicated transactions in logistics operations. When we eliminate redundant processes, we can bring new benefits to our customers and to the planet, which has always been one of Kerry Logistics' beliefs.
Use of Blockchain Helps Speed Global Shipping TransactionsRELATED VIDEO: Foundations of Blockchains (Lecture 1.1: Focus of Lecture Series (+ a Little Hype))
It was November the last time we blogged about the BlockChain race in the international shipping industry. They formed a joint venture at the beginning of to release a blockchain-based platform called TradeLens, which the companies had been developing since Finally, close to half a year later, Maersk and IBM have gotten a second carrier to sign up. The Loadstar published a brief article by Alexander Whiteman that reports:.
CargoSmart, Oracle Using Blockchain to Speed Global Shipping Transactions
Their PR team must be very happy at the steady flow of participants announcing they plan to participate. It also contradicts the scepticism observers such as this writer have expressed, regarding the possible reluctance of major industry players to join a service owned and operated by a potential competitor. No doubt all of this is true, but when examining some of the announcements a couple of interesting points stand out. It may be helpful at this point to reconfirm the definition of a Blockchain. They have trust, transparency and accountability at the core, while streamlining business process and legal constraints. Each piece of data recorded in the ledger has a single owner, but the ledger should be stored across multiple independent locations nodes , in fact as many as possible, as this makes it harder to subvert. As a node generates a block, all the other nodes validate the transactions contained within it and once done, it gets added to the blockchain.
CargoSmart Completes Proof-of-Concept with eTradeConnect
Tesla has been involved in a successful blockchain pilot program involving the shipping of parts to its Shanghai factory, one of its scheme partners has announced. CargoSmart Limited announced on Tuesday that the pilot, involving four organisations in total, highlighted the efficiencies that could be brought to the complex world of international logistics by blockchain technology and could pave the way for further integration. The successful pilot has proven that the unique collaboration model between ocean carriers and terminal operators is able to create benefits for stakeholders along the global supply chain.