UPS to Use Blockchain to Track Global Shipping Data

A patent application by United Parcel Service is called "Autonomous Service Selection System and Distributed Transport Database"
20 August 2018   339

US logistics giant United Parcel Service (UPS) has applied for a patent, which describes the use of blockchain technology to track parcels around the world.

The application "Autonomous Service Selection System and Distributed Transport Database" describes a method that includes a variety of different types of data contained in a distributed registry. Among other things, the blockchain will contain data on the destination of the parcel, intermediate points and plans for the delivery of the parcel.

Thus, certain embodiments enable tracking of a first set of shipment units and a second set of shipment units associated with the first set of shipment units separately, thereby enabling the use of various smart contracts relating to shipping services and shipment unit handling in a bifurcated manner.
 

UPS

Also, UPS plans to use more than one distributed registry, but several.

In November of last year, UPS became a member of the Blockchain in Trucking Alliance (BiTA), a consortium that aims to develop standards for using blockchain technology to track parcels and make payments between supply chain participants.

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   95

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.