Supply Chain/Blockchain Friday Wrap — Week ending 6 December 2018
The potential of blockchain technology is being realized more and more with every passing day. From national banks to government departments, the new tech is being embraced and implemented to improve current processes and standards.
Here’s our weekly roundup of supply chain and blockchain news!
Over One-Third of German Big Business Find Blockchain Tech as Impactful as the Internet
According to a recent survey, over one-third of big businesses in Germany are considering blockchain technology to be as impactful and revolutionary as the Internet. Along with blockchain technology, artificial intelligence and the Internet of things are the current three areas of development with “tremendous potential.”
Bitkom CEO Bernhard Rohleder said, “Bitcoin and other cryptocurrencies are a good example of how the digital age is able to change the financial world. This is not so much about the individual currency itself as it is about the underlying blockchain technology. It will have an impact on the whole economy.”
Swiss Post, Swisscom Developing New Blockchain Platform on Hyperledger
Swiss Post, the country’s national postal service, and state-owned telecoms provider Swisscom are joining together to develop a blockchain platform. The two will be using Hyperledger Fabric to build their “simple, secure, and sustainable” private blockchain infrastructure. It’s intended to be utilized by other companies’ applications as well.
The infrastructure is designed to meet the high-security levels required by banks, while all of the data will be held within Switzerland. Ultimately, their goal is “to enable the Swiss economy to quickly obtain a leading position when it comes to using this promising technology.”
U.S. Air Force Promotes Learning of Blockchain for Supply Chain Management
The U.S. Air Force Institute of Technology is promoting blockchain technology for supply chain management purposes. The military entity has developed a free tool that will help professionals learn about blockchain, as well as publishing a live blockchain application paired with tutorial videos.
The military struggles to track parts that are sourced and assembled into equipment that is in different regions and shipped overseas. The U.S. Air Force has recognized that the technology is capable of improving transparency and trust across each tier of their supply chain, acknowledging some of their most pressing issues.
Signature Launches Institutional Payments Using Permissioned Ethereum Blockchain
Commercial Bank Signature Bank is launching a new platform for payments for institutional clients that will be powered by a permissioned version of the Ethereum blockchain. The platform will allow clients to move money in 30 seconds, functioning 24-hours a day, seven days a week by converting USD into ERC-20 compliant tokens.
Signature Cofounder and CEO Joseph J. DePaulo said, “We have to do this, otherwise we’re not going to exist. If you’re not involved in blockchain, in five years, you won’t be around as a bank.”
US Government Offering Up to $800K for Anti-Forgery Blockchain Solutions
The U.S. Department of Homeland Security is offering grants up to $800,000 to blockchain startups that are offering anti-counterfeiting solutions. The agency is looking to use blockchain technology to enhance its ability to prevent fake documentation.
In order to qualify for a grant, startups need to present their proposed solutions that cover various use cases, including the issuing of digital documents that are related to travel, citizenship, immigration, and employment authorization, in addition to cross-border oil and raw material movements.
This Company Wants To Use Blockchain to Stop Phishing
A company called MetaCert has spent seven years compiling a list of a database of emails that are known to be phishers along with a list of “safe” used by the companies that hackers like to spoof. It’s planning to use blockchain technology to have people submit and categorize links.
MetaCert CEO believes that the use of blockchain technology will help the company gain trust as it won’t have control over the decentralized database, preventing employees from abusing power by flagging sites they don’t like. The company hopes to be able to also have submitters and reviewers earn reputation scores that will affect their contributions.
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