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   491

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.

Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   70

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.