August 18, 2017
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Market Activity and Trends
IBM Signs New Supply Chain Deal
Coin Desk | August 16, 2017 | https://goo.gl/XPLdXr
IBM has announces a blockchain supply chain deal with major port operator PSA International and regional shipping firm Pacific International Lines (PIL). The partnership will aim to increase transparency and automation of the flow of documents between trading partners.
PSA CEO Tan Chong Meng elaborated, “ 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 shipping industry has been turning to blockchain to solve industry pain points, as many of the world’s largest port operators and shipping firms move to launch trials of blockchains. IBM has been at the forefront of these trials, completeing a live blockchain trial with Maersk earlier this year.
The EU is Building a “Financial Transparency Gateway” with Blockchain
Coin Desk | August 11, 2017 | https://goo.gl/HUYiNR
The executive arm of the European Union has revealed that it is currently building a blockchain-based gateway designed to share information on listed companites. Valdis Dombrovskis, vice president of the European Commission, shared information on the push to gather more information from exchange and wallet services and pointed to new plans to fund blockchain pilot projects.
The EU is currently spending hundreds of thousands of euros on a larger blockchain project to create an “observatory” to test public-sector applications of blockchain. Dombrovskis also revealed that the commision is planning to uanch a “Blockchain for Social Good” contest, which will be held in conjunction with the EU’s Horizon 2020 research and innovation initiative.
IT Giant NTT Data Enlists 13 Companies for Blockchain Consortium
Coin Desk | August 16, 2017 | https://goo.gl/7eQaH4
Japan’s largest IT services firm, NTT Data, has announced a new consortium of 13 different companies aimed to investigate use cases in the financial and supply chain industries. Notable participants include Mizuho Financial Group, Nippon Express, and the Bank of Tokyo-Mitsubishi.
The announcement comes during a period of building momentum for blockchain development in Japan, which has even seen government agencies test the use of smart contracts. NTT Data has already completed work on pilot programs with banks and insurance companies, and the new effort is expected to run through next spring.
Blockchain @ IBM Institute for Business Value
