VeChain cooperates DB Schenker: Blockchain for Logistics

Using blockchain technology, VeChain Foundation continuously aims at refining and adding value to the scope and development of their VeChainThor platform
12 June 2018   871

For the construction of the platform with holistic capabilities, VeChain Foundation is to involve the best service providers in the world, goods distributors and global experts into their platform’s ecosystem. All these things are necessaey to ensure the integration of as much business processes as possible. The Blockchain’s flexibility and power let the firms to create tailor-made resolves which can assist in overcoming their existing business issues. One of those solutions has now been co-worked with DB Schenker, one of the world’s leading global logistics providers.

DB Schenker is the transport and logistics enterprise branch of Deutsche Bahn. With a highly developed network of over 68,000 logistics experts in 2,000 locations, DB Schenker suggests comprehensive supply chain management resolutions, efficient air, ocean, rail and land transport as well as contract logistics around the globe.

Partnering with the third-party logistics providers in China, DB Schenker can propose extensive and integral logistics solutions across China for any industry and trade. Nevertheless, the huge potential of such a comprehensive logistics network is litigated by the complexity of measuring the performance and service quality of their business partners.

For that matter, DB Schenker has deployed a providering evaluation system with VeChainThor platform. This is the first time that Blockchain is used for supplier management aims. VeChainThor blockchain estimates the business partners based on collected data and lets DB Schenker to improve the service of the suppliers. The system and its related applications in the future will be able to potentially evolve into a platform widely shared and co-created by a broad range of logistics service providers.

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   335

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.