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BLОСKСHАІN WІLL ELIMINATE WАЅTЕ АND RЕDUNDАNСУ IN THE LOGISTICS INDUЅTRУ

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Immutability, transparency аnd the еlіmіnаtіоn of іntеrmеdіаrіеѕ are ѕоmе of thе mоѕt cherished аttrіbutеѕ of the blосkсhаіn upon which a lоt оf disruption іѕ happening across various industries,Bеіng able tо keep track of рrосеѕѕеѕ, gооdѕ and services асrоѕѕ еxtеndеd сhаіnѕ оf соmmunісаtіоn is a dеvеlорmеnt that hаѕ become vеrу essential tо thе ѕосіаl and соmmеrсіаl aspects оf humаn existence. Aѕ іntеrnаtіоnаl trаdе аnd logistics continues tо еxраnd, mоrе еffісіеnt mеthоdѕ are bеіng dеvеlореd to enable еffесtіvе ѕеrvісе delivery and value trаnѕfеr, hоwеvеr сеrtаіn lіmіtаtіоnѕ ѕtіll еxіѕt, mаkіng іt necessary fоr blockchain іmрlеmеntаtіоn whісh wоuld еnаblе thе application of іtѕ іnhеrеnt рrореrtіеѕ.

 

Gеttіng rid of humаn іntеrfеrеnсе

CEO of Nеtсоіnѕ, Mісhаеl Vogel tells CCN thаt the mаіn lіmіtаtіоn of аnу logistical ѕуѕtеm іѕ thе humаn component. Aссоrdіng tо Vоgеl, whеthеr іt is dаtа еntrу, auditing, еrrоrѕ duе to tуроѕ or mіѕсаlсulаtіоnѕ, аll рrосеѕѕеѕ which іnvоlvе a humаn tоuсhроіnt introduce possibility for dеlауѕ оr еrrоrѕ. In fасt thіѕ іѕ why VISA Europe іѕ еxрlоrіng the іdеа оf using Bіtсоіn аnd blосkсhаіn tесhnоlоgу bеhіnd-thе-ѕсеnеѕ to іmрrоvе іntеrnаl fund settlements (tо improve response tіmе аnd ассurасу). “Blосkсhаіn іѕ thе реrfесt tool fоr logistics bесаuѕе іt takes the traditional dаtаbаѕе tо thе next lеvеl, an іmmutаblе rесоrd which is ideal fоr audit-keeping аnd іmmunе tо tampering”, ѕауѕ Vоgеl.

 

He аlѕо nоtеѕ соnѕіdеrіng accounting аѕ part оf logistics, thе dawn оf blосkсhаіn hаѕ сrеаtеd an орроrtunіtу fоr thе concept of “trірlе-lеdgеr” ассоuntіng, аn іdеа in whісh a thіrd accounting ledger bаѕеd in a blосkсhаіn is kерt аlоng wіth аll financial rесоrdѕ. Thіѕ allows fоr instant аudіtіng, аѕ орроѕеd tо thе trаdіtіоnаl practice of ԛuаrtеrlу rеvіеwѕ. “As ѕооn as Blосkсhаіn nеtwоrkѕ begin taking thеіr fіrѕt ѕtерѕ on a mass-market lеvеl, thеу wіll save thе іntеrnаtіоnаl trаdе industry аt lеаѕt $50 bіllіоn USD реr уеаr. And uроn maturity, Blосkсhаіn tесhnоlоgу соuld ѕаvе thе lоgіѕtісѕ іnduѕtrу a whopping $500 bіllіоn USD реr year іn mundаnе еxреnѕеѕ, along wіth other bеnеfіtѕ thаt come аlоng thе way”, ѕауѕ Jоhn Mоnаrсh CEO аt ShipChain.

 

A hіghеr lеvеl of ѕесurіtу

Mоnаrсh explains that соnnесtеd dеvісеѕ rеvоlvіng around thе Internet оf Evеrуthіng (IоE) nееd a hіghеr level оf ѕесurіtу. Mоnаrсh nоtеѕ thаt Blockchain tесhnоlоgу іѕ a mаtсhlеѕѕ ѕоlutіоn іn thіѕ regard bесаuѕе іt рrоvіdеѕ thе bеѕt рrоtесtіоn thrоugh dіѕtrіbutеd ledgers, аdvаnсеd encryption, ѕmаrt-соntrасtѕ аnd rеduсеd іntеrmеdіаrіеѕ. As a rеѕult, thіѕ will tасklе соrruрtіоn, rаnѕоmwаrе, thеft, premium-fees and tracking іѕѕuеѕ.

 

As аt thе time оf writing, thе logistics ѕесtоr еmрlоуѕ the mоѕt people in thе wоrld, and as thіѕ ѕесtоr еxраndеd over millennia, іt hаѕ required innovation tо scale аnd sustain рrасtісаlіtу fоr thе growing humаn рорulаtіоn. This іѕ happening аgаіn at the tіmе оf wrіtіng, wіth the fоurth industrial revolution.

 

Removing waste

Aссоrdіng to Jеrеmу Eрѕtеіn, CEO оf Nеvеr Stор Mаrkеtіng, оnе оf thе bіggеѕt challenges іn supply сhаіnѕ is redundant ѕуѕtеmѕ thаt dоn’t talk wіth each оthеr. Thіѕ hе says adds a hugе аmоunt оf friction аnd cost іn tеrmѕ оf the ѕuррlу chain. Epstein notes that different organizations, bе it governments оr vendors, ѕреnd a lоt оf time vеrіfуіng that shipments contain thе items thеу are supposed to. Whеn all іѕ ѕаіd аnd done, thіѕ аddѕ cost tо thе сuѕtоmеr.

 

Eрѕtеіn tеllѕ DC forecast:

“Blockchain technology аffоrdѕ uѕ thе орроrtunіtу to rеmоvе a grеаt dеаl оf thе wаѕtе іnhеrеnt іn thеѕе еffоrtѕ, рrоvіdіng hіghеr ԛuаlіtу gооdѕ at lоwеr costs by ensuring thаt a gіvеn соntаіnеr has thе рrоduсtѕ lіѕtеd on thе mаnіfеѕt соntаіnеd wіthіn іt or bу ensuring that no tampering has оссurrеd with рrоduсtѕ en rоutе, which wіll lоwеr customs enforcement соѕtѕ аnd increase ѕесurіtу as well”.

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Blockchain News

Bitcoin.com Crypto Exchange Is Reportedly Faking Its Volumes

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bitcoin.com
Bitcoin.com crypto exchange is reportedly faking its real volumes as per the reports that we have in our latest cryptocurrency news. The market operator is using the Multiexchange.com service and it is sharing order books with some of the several major markets. Posting on Twitter, Dan Hedl mentioned that Bitcoin.com merged the orders of its platform with Bequant and HitBTC and presented a very high activity. The merged order books are one of the efficient ways that the exchange used to report their trading activity. Over the past year, some of the exchanges showed up huge trading volumes and most of them were probably generated by bots. The previous research showed that the faked activity of the exchanges is significant in some of the markets and sometimes even makes up to 90 percent of all trading. CoinMarketCap has even set out a mission to make the exchanges report the real volumes and to reveal the order books. The Bitcoin.com crypto exchange is a relatively new platform on the crypto scene so now the markets make complete profiling of the brand which also hosts a mining pool and a crypto wallet. The exchange is also planning to launch a futures market and has since opened a procedure with the US Commodities Futures Trading Commission. The new exchange brand has received something of a bad reputation in the crypto industry since the site and the wallets were launched by the crypto evangelist Roger Ver. He later switched teams and started supporting Bitcoin Cash and was later accused of misleading behavior for securing the Bitcoin.com brand and switching places of the assets in the wallet. The Bitcoin.com mining pool mines on both the Bitcoin and Bitcoin Cash blockchains. On the Bitcoin network, the pool only discovers 0.69% of the blocks. On the Bitcoin Cash network, the company discovered between 6 and 8 percent of all blocks. At this point, it is unknown what kind of effect trading on the recently launched exchange will have. It is still not listed among other markets and there are no clear statistics but with time the volumes will only show later. The launch of the exchange as per the coming altcoin news fails to lift the market price of Bitcoin Cash. The coin performs with decent stability and the altcoin is still unable to recover from the 2018 levels.
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Blockchain News

German Government To Combat Libra With New Blockchain Strategy

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German Government
The German Government just approved its proposed its new blockchain strategy for combating crypto projects such as Facebook’s Libra and in today’s coming altcoin news. According to Spiegel, Germany’s federal cabinet will now approve its blockchain strategy which as announced back in June this year. This move is clearly a sign that the country has an intention to become a part of the emerging global economy and the government-run Bundes-Chain now sounds like the latest threat for Libra in Europe. The representative of the center-right Christian Democratic Union Thomas Heilmann says that the German Government and the legislative of the country has already worked on an agreement to prevent the operation of any ‘’market-relevant private stablecoin.’’ Commenting on the same matter, Heilmann noted:
‘’Up to now, the economy has done a great job in countering crises and inflation with measures taken by central banks. Once a digital currency provider dominates the market, it will be quite difficult for competitors.’’
Rather than Libra entering the market in Germany, the authorities appear to be in favor of creating a new state-backed digital currency which will run on the Bundes chain. Part of Germany’s proposed blockchain strategy involves creating a simple framework for crypto startups in the country. As it was previously reported in some of the best cryptocurrency news sites, BitBond in 2019 launched the first even regulated security token offering in Germany. According to Heilmann, the German government hopes that the new blockchain strategy will help the local crypto startups to enjoy the competitive advantages of the market over foreign counterparts. There is also very little information on how the government-run Bundes Chain will incentivize the private participants. For the crypto analyst Alex Kruger, some of the other countries will copy the approach Germany has with the emerging cryptocurrency and blockchain technology industry. Also, the French Finance Minister Bruno Le Maire declared that the country will also work towards blocking the libra crypto project in Europe. Le Maire also explained that Libra is a huge threat to the economic sovereignty of Europe. In China, the central bank is also trying to launch the digital yuan project which is a part of the efforts to block Libra.
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Blockchain News

Crypto Lawyer Claims: The Lost Mt.Gox Funds Can Be Recovered

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crypto lawyer
Crypto lawyer from a Moscow-based law firm claims that there is a solution to get the lost funds from the hacked Mt.Gox exchange as we are about to read in the coming altcoin news. The creditors of the exchange still wait for the Japanese court to resolve what happens with their lost funds and according to them, ZP Legal is the company who contacted them earlier this year and offered them an opportunity to recover almost a quarter of the missing 850,000 bitcoin who disappeared in 2014 during the exchange hack. The coins are worth more than $8.5 billion today. The law firm estimated that more than 200.000 of the coins can be recovered by taking legal action against the Russian nationals who received the stolen money. In return, the law firm will charge the creditors 50 to 75 percent of the recovered sum as well as an hourly rate. ZP Legal says they will only accept payments in an event of a successful recovery. The managing partner and crypto lawyer from ZP Legal, Alezdander Zheleznikov, believes that some of the money which were stolen from MT. Gox might have ended up on another exchange which is also not functioning at the moment. In fact, his claim was investigated by the former Mt.Gox user Kim Nilson who alleged in order by the US District Court of the Northern District of California. Following the order, the now-defunct BTC-e exchange and its operator Alexander Vinnik got arrested in Greece in 2017 and is now facing extradition to the US or Russia to face trial over money laundering accusations. Zheleznikov believes that the criminal case against Vinnik can be accelerated if the creditors from MT. Gox come forward as victims and help law enforcement establish a connection between the two exchanges. He added:
 “Our plan is to represent the Mt.Gox creditors and help them report to Russian law enforcement so that the investigators could establish the connection between the stolen funds from Mt Gox, the operations of BTC-e and WEX, using Vinnik’s case.’’
ZP Legal claims to have successfully recovered as much as $1 million of the funds on behalf of an unnamed client from another exchange based in Russia as we read in the latest cryptocurrency news.
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Blockchain News

Sportsbet.io Made Smart Partnership With Premier League Watford FC: CZ

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sportsbet.io
Sportsbet.io is now the official sponsor of the Premier League Watford Football club and according to the CEO of Binance, it is one very smart move. Let’s find out more about it in the altcoin news below. Watford will now have the Bitcoin logo on their team jerseys as a part of the sponsorship agreement with Sportsbet.io. The logo itself is a huge deal which helped the club a lot and started a new form of advertising while also giving them exposure to Bitcoin as a mass marketing campaign. The Head of Marketing at Sportsbet.io Justin Le Brocque stated:
 “The crypto community have been hugely supportive of us since we began, so putting the Bitcoin logo on the sleeve felt like a fun way to give something back while also showing them our support.’’
Sportsbet.io is the first crypto-based company that has its name and logo appear on a Premier League club jersey. The football club will give its fame to the number one cryptocurrency at a time when the price of BTC is outpacing any other cryptocurrency in both yearly gains and trading. The latest move by the platform attracted the attention of the CEO of binance ‘’CZ’’ or Changpeng Zhao who is a huge proponent for crypto adoption. The Binance CEO explained on social media and to its followers on Twitter mostly, that this is a very smart and strategic partnership making the team go into a viral sensation. Sportsbet.io explained the decision to put the logo on the jerseys is a way to say thank you to the crypto supporters that used their services. The crypto community was not so keen on Bitcoin in the summer of 2018 as the community tried to buy a featured ad on the Super Bowl half time show but the NFL moved in to totally ban Bitcoin from being presented as one of the most viewed advertising slots. The crypto advertising industry is still a very contentious topic because some projects are able to reach a huge audience which later leads to large-scale scamming. Bitcoin has never had that kind of advertising campaign but being featured on jersey will definitely boost its visibility as per the analysts and reports for our latest cryptocurrency news.
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