Mitsui and IBM now use blockchain for transporting

Mitsui OSK Lines and partners use blockchain with the Cross-Border Trade
14 December 2017   743

Japanese shipping firm Mitsui OSK Lines (MOL), IBM and other partners take a blockchain proof-of-concept to streamline international trade flows. Now trade transactions can use a blockchain-based application. The project includes logistics and insurance documents, trade agreements, digitized, stored and shared among participants. It will bring more benefits than traditional systems of trading.

The test is intended to verify the effectiveness of blockchain for enhancing security and reducing the time required to settle cross-border trade transactions, discrepancies among related documents and administrative cost.

 

From Mitsui OSK Lines statement

The project will use the Hyperledger Fabric blockchain framework, which is developed by the Linux Foundation-led Hyperledger blockchain consortium. IBM Japan, the Japan Research Institute, Sumitomo Mitsui Financial Group (SMFG), Sumitomo Mitsui Banking Corporation and other arms of the Mitsui Group take to participant in this MOL project. Earlier SMFG successfully tested a prototype using distributed ledger technology (DLT) to streamline international transaction agreements.

 

Bittrex to List LOOM

LOOM is the token of the American startup Loom Network, which launches decentralized applications
18 July 2018   111

Popular cryptocurrency exchange Bittrex listed Loom Network token LOOM. 

As the team of the exchange said, trading with the crypto currency will begin in the near future. On the background of this news, LOOM showed a price jump fo 14%.

LOOM Price Chart
LOOM Price Chart

LOOM is the token of the American startup Loom Network, which is launching decentralized applications.

In January, Bittrex tightened the criteria for listing new tokens. Now, developers need to provide technical information about the token itself, as well as the data of at least one team member. At the moment, the exchange has 290 digital coins.