Blockchain to put Milk and Fish Supply in Kerala, India

The authorities of Kerala (a state in South India) are turning to blockchain tech in order to provide the supply chain process of everyday groceries
18 June 2018   1280

This new project is to streamline the supply chain networks - including distribution - of milk, vegetables, and fish in the state using blockchain technology. The Kerala Development and Innovation Strategic Council (K-DISC) will spearhead the project that will involve RFID tags and the use of Internet of Things (IoT) devices to monitor transportation. K-DISC chairman K M Abraham claimed that blockchain will monitor production, procurement, and distribution of milk to provide speedy delivery to millions of people on a daily basis. The transportation of milk within specific temperatures in refrigerated trucks will also be displayed through RFID tags and IoT equipment.

Every single element of the network will have a particular ID that will be recorded on the blockchain, making able real-time monitoring of the quality of the product at its source at every step of the chain. Fish-landing spots and farmlands will be connected using geo-coded images, enabling real-time demonstration and verification of goods at every single step of the delivery process from warehouses and retail centers via their point-of-sale locations of the client.

The government of Kerala is also thinking about the use of blockchain tech for its crop insurance scheme provided to farmers. Working further, the authority explained blockchain technology will assist ascertain if crop losses were actually due to natural causes and will help negate disputes between insurance providers and farmers, alongside eliminating the need for intermediary altogether.

Kerala`s capital city of Thiruvananthapuram is already home to a blockchain ‘academy’ wherein students are taught on blockchain solutions with a special focus on the banking and healthcare sectors.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   335

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.