Sweetbridge: Supply Chain/Blockchain Friday Wrap Up — Week Ending 2 November 2018

  • Friday, 02 November 2018 14:47
Supply Chain/Blockchain Friday Wrap Up — Week Ending 2 November 2018Over the last few weeks, we’ve seen blockchain become more mainstream as companies begin to look beyond the different possible uses for blockchain and start applying them into their projects.Here’s our weekly roundup of supply chain blockchain news!…World’s Largest Diamond Producer Alrosa Joins De Beers’ Blockchain PilotAlrosa, the world’s largest mining firm, has joined the supply chain blockchain platform pilot, Tracr. It has been reported that Alrosa is the largest producer of diamonds in terms of raw carat, along with De Beers’ who combines produce around half of the world’s supply.The Tracr pilot was first announced in January in order to bring more transparency and trust to the supply chain.China Uses Blockchain Technology to Fight Fake Invoice IndustryFake invoicing in China has been a prevalent problem as it is so easy to do. The government is now looking to blockchain to verify invoices. They believe that by 2022, its ability to track invoices and collect taxes will be untenable, according to a state-sponsored report by the State Administration of Science, Technology, and Industry for National Defense.China’s first ever blockchain-verified “paid” invoice occurred on the 10th of August, therefore, marking the launch of the pilot project replacing the current system with blockchain. The trial is now expanding beyond Beijing into the different provinces of China.Visa is Launching its Blockchain-Based Digital Identity System Early Next YearVisa is preparing to launch ‘B2B Connect’, the first blockchain-based digital identity system for banking purposes. Visa is planning for this digital identity system available for legal entities to speed up cross-border payments.There have been pilot trials across different countries in the US including the US, South Korea, Philippines, and Singapore.Chinese Retail Giant JD.com Launches Blockchain Research LabThe Jingdong Group (JD.com), one of China’s leading e-commerce companies, has improved their position in the blockchain space by launching their research lab in partnership with two technology institutes. The lab will be looking towards solving problems in efficiency and examining any future use-cases for the technology.As well as the research lab, JD has also cited long-term research efforts in consensus protocols and security in decentralized applications.World’s largest grain traders partner to digitize transactionsThe four largest grain traders in the world have joined together to replace paper-based processes, e.g. contracts, invoices, and payments. They will be joining together using the blockchain to increase reliability, efficiency, and transparency.Archer Daniels Midland Company (ADM), Bunge, Cargill, and Louis Dreyfus Company (LDC) are developing standardized tools to digitized agrishipping. This partnership could be a sign that they believe having the shared benefits of automation and efficiency are better than one having a competitive advantage.Asteroid Mining Startup Bought by Blockchain Firm Hoping to Democratise SpaceConsenSys announced its acquisition of asteroid mining company Planetary Resources, a blockchain startup that has the potential of becoming a trillion-dollar industry over the coming decades. Viable astroids contain minerals like gold, silver, and platinum which could be mined and brought back to Earth.Brian Israel, who has previously worked with the US government on the international legal dimensions of outer space, said, “Ethereum smart contract functionality is a natural solution for private-ordering and commerce in space — the only domain of human activity not ordered around territorial sovereignty — in which a diverse range of actors from a growing number of countries must coordinate and transact.”ConsenSys founder Joe Lubin added that Planetary Resources was in line with his company’s belief “in democratizing and decentralizing space endeavors to unite our species and unlock untapped human potential.”CryptoKitties creator Dapper Labs raises $15 million to build more blockchain catsDapper Labs, the company behind CryptoKitties, has raised $15 million in a new round of funding with participation from Venrock, Google’s GV, and Samsung Next. The company is also working with top entertainment brands to bring compelling brands, communities, and intellectual property to the blockchain.Dieter Shirley, the company’s chief technology officer and the original author of the non-fungible token (NFT) standard popularized on Ethereum as ERC-721 said, “We launched CryptoKitties as an innovative and play-driven introduction to what blockchain can do and mean for consumers. By engaging the community with fun and games, we reached much broader audiences.”Want to know more about Sweetbridge?Sweetbridge is an open-source project unlocking the value trapped in assets, payment delays, and corporate talent. Our Blockchain-based ‘tools for commerce’ help companies, countries, and individuals to find a better way to trade and innovate.To join the movement go to https://sweetbridge.com/crowdsale and click “Register Now”.Join our discussion in Sweetbridge telegram channel to learn more about Sweetbridge and its products.Twitter | LinkedIn | Facebook | Telegram | Reddit | InstagramSupply Chain/Blockchain Friday Wrap Up — Week Ending 2 November 2018 was originally published in Sweetbridge on Medium, where people are continuing the conversation by highlighting and responding to this story.

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