Accenture tested a blockchain for ocean shipping

A European consortium led by Accenture proved the blockchain technology can revolutionize the transport industry
15 March 2018   1481

A consortium that includes AB InBev, Accenture, APL, Kuehne+Nagel and European customs organization today reported it had managed to test out the blockchain technology in shipping industry. The solution assumed all the respective documents to be shared and distributed using blockchain platform instead of traditional exchanging them physically and digitally. The test was comprised of 12 real shipment missions with different locations and thus various regulatory procedures.

In the test scenario, AB InBev acted as a typical exporter, APL - as a shipping organization, Kuehne+Nagel - as freight forwarding navigator and European customs organization - as a regulator. Accenture in turn provided the necessary consulting and product development services on the matters of a blockchain solution.

The test confirmed the blockchain solution capable of reducing operating costs and making supply chain more transparent. The solution indicated significant improvements of the entire flow of shipping documents, almost 80% decrease of data entry requirements, data amendments made easy and streamline the cargo checks.

Our trials have proven the viability of a shipping process in which many documents can be replaced by secure and distributed data sharing with clear and defined ownership. This gives companies a significant opportunity to save time and money while improving their service to customers.

 

Adriana Diener-Veinott

Freight & Logistics Lead, Accenture

 

Blockchain technology will be transformational to our business and the world. It reduces mistakes, digitizes information and improves the supply chain process so we can focus on our core business of brewing the best beers for consumers.

 

Danillo Figueiredo

Vice President, AB InBev

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   137

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.