Swissport to use blockchain in their aviation services

Swissport plans to utilize blockchain in their cargo and passenger services through partnering with two blockchain-oriented companies
30 May 2018   426

One of the spheres to benefit greatly from use of inherently transparent and secure blockchain technology is cargo and passenger transportation. At least that's what Swissport, a Swiss aviation services company, thinks. The company is looking into using blockchain to streamline its cargo handling and passenger service.

Swissport has partnered with Olam, a Swiss non-profit foundation, to launch a pilot of an open-source platform for the supply chain. Olam utilizes blockchain and smart contracts to record shipment information and changes of custody.

Hendrik Leyssens, head of global cargo operations at Swissport, commented that using blockchain is a bid for the future-proofing the operations, because it can speed up transactions and enhance their security, while also reducing the operational costs and overcoming the chronic lack of transparency in fragmented supply chains.

And distributed ledger usage won't to be limited just to cargo handling. Swissport plans to adopt blockchain for the passenger services, provided by the company. Partnership with Winding Tree, a blockchain-based travel platform, is a proof of that. Connecting various parties to provide traveling experience to users without resorting to “help” from multiple intermediaries is a goal of Winding Tree Foundation, and Swissport wants to explore the potential of distributing its existing travel services on the platform.

SEC to Slap ICO Founder With $30K Fine

Additionally, David Laurance, founder of Tomahawk Exploration LLC got 2 lifetime bans
15 August 2018   118

The US Securities and Exchange Commission (SEC) on Tuesday reported that it has issued two new bans directed against David Laurence, the founder of Tomahawk Exploration LLC. Tomahawk allegedly stands behind fraudulent ICO, writes CoinDesk.

Laurence, according to the SEC, raised funds through the sale of Tomahawkcoin tokens, in the process of using misleading advertising materials and fraudulent statements that it is a tenant of drilling sites.

Moreover, the sale of Tomahawkcoin tokens, according to the SEC, was accompanied by a false promise that "the holders of tokens will be able to exchange Tomahawkcoin for shares and receive a potential profit from oil production and secondary tokens trading."

According to the SEC, Lawrence neither acknowledged nor denied the charges, but he and his company agreed to these bans, as well as a fine of $ 30,000.

...Tomahawk issued tokens as part of the Bounty Program to generate interest in the ICO, which benefited Tomahawk. Distribution of tokens that are securities in exchange for promotional services to advance the issuer's economic objectives or create a public market for the securities constitute sales for purposes of Section 5 of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
 

SEC

The first prohibition of the SEC is a ban on the director's work in public companies, and the second does not allow Lawrence to own and trade in so-called "penny" shares. Both prohibitions, according to the announcement of the SEC, are lifelong.