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   848

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".

US Federal Reserve to Consider Digital USD Issue

If a some country or company issues digital money that is widely recognized, this could lead to the loss its status by the USD, fed official believes
17 October 2019   66

The US Federal Reserve is actively considering the possibility of issuing digital currency, fearing the dollar will lose its leading position in the global financial system. This was stated by President of the Federal Reserve Bank of Dallas Rob Kaplan, reports CoinDesk.

In his opinion, if a foreign government or company issues digital money that is widely recognized, this could lead to the loss of the status of the world's reserve currency by the dollar.

On the eve of the previous chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo also expressed concern that the re-issuance by other countries of national currencies in digital form could lead to the dollar losing its dominant role in the world. He called for the release of a digital dollar on the blockchain.

Bank of England Governor Mark Carney said earlier that a digital currency like Facebook’s Libra can replace the dollar as a global reserve currency.

The emergence of an attractive and viable alternative to the dollar will reduce demand for US government securities, Kaplan said. This will lead to an increase in interest rates by 100 basis points (1%), which will increase the cost of servicing public debt by $ 200 billion per year.

I still think for the foreseeable future, the dollar will be the world reserve currency, we’re able to refinance our debt at relatively low rates, but I don’t think we should take that for granted.
 

Rob Kaplan

President, Federal Reserve Bank of Dallas

Kaplan noted that countries subjected to sanctions or increased trade tariffs by the United States are working most actively on the digital alternative to the dollar.