Samsung to Launch Online Logistics Platform

As reported, the technology of the distributed ledger makes it possible to track the location of cargo using a mobile application in real time.
21 June 2018   908

Samsung SDS, the IT division of the South Korean technological giant, announced the launch of the Cello Square 3.0 logistics block-platform based on artificial intelligence. This is reported by BusinessKorea.

According to the release, the technology of the distributed ledger makes it possible to track the location of cargo using a mobile application in real time.

To avoid fake and fraud, with the help of a blockchain and Near field communication, the buyer will be able to obtain information about the origin of the cargo, the producer country, the name of the importing companies and exporters.

The service will also save time and cost of delivery by automatically calculating the shortest and least expensive routes.

The exact date of launch of the project is still unknown. Head of Logistics at Samsung SDS Kim Hyun-tae said that Cello Square 3.0 will become "the best service for players in the global e-commerce market".

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   293

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.