Samsung SDS Improves Shipping via Blockchain

Blockchain will allow importers and exporters to make transactions of documents without forgery and tampering threats
21 December 2017   1860

Today Samsung SDS announced that a consortium led by the company had successfully concluded a monthslong test on blockchain-powered storage in marine transport, with the expectation that the technology will take the shipping industry to a new level.

It is stated that blockchain technology will allow importers and exporters to make transactions of documents, such as a bill of landing and letter of credit, without forgery and tampering threats.

According to the company, blockchain can also track and store information, such as location, temperature, humidity and external shocks en route.

The consortium, joined by 38 entities from private and public sectors, has tested the blockchain technology since May. Samsung SDS vowed to support the application of the blockchain technology with logistics firms in the consortium, including Hyundai Marine Merchant.

Meanwhile, Samsung SDS is working on the Seoul Metropolitan Government’s project to create an information strategy plan based on blockchain technology.

Binance to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   158

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.
 

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.