Dnata and IBM created new scheme of transportation

The new proposition for cargo service delivery will use blockchain technology
24 November 2017   815

This solution has added improve visibility and transparency for all stakeholders and eliminating redundant data. The processes can be more streamlined and simplified. As a result, this decision will increase the efficiency of transportation and save money for the company's customers.

For example, traditional cargo transportation requires a lot of paper documents and participation in the process of several inspectors who will monitor it, sign documents, etc. Moreover, these documents must be signed by several parties. Even the electronic system of cargo transportation requires a long administrative process. But blockchain technology can simplify this process by digitizing the supply chain. At the same time, neither party can change, edit or delete any of the blocks without the consent of other users.

This technology is a very secure way to share information between parties. It creates a permanent, digital public transactions ledger which can be shared with a computers distributed network. The sharing possibilities of this technology create a lot of opportunities for logistics. For example better tracking of orders, reducing errors, improvement of transparency and better fraud detection.

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   103

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.