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A.P. Møller-Maersk and IBM are forming a joint venture to test the blockchain in the cargo industry - in order to accelerate trading processes and also to make them cheaper. 80% of everyday goods are transported via ship freight but one fifth of the total transport costs are created by the large number of documents and middlemen - with the same potential to reduce expenditures, which should also benefit customers. Manufacturers, shipping and transport companies, ports, terminals and customs authorities should therefore be brought together in order to enable a common and unchangeable recording of all data in the blockchain system. At this joint venture, Maersk and IBM are currently focusing on providing real-time information to all parties and to digitize customs clearance. IBM is also working together with several banks on the Blockchain based "Batavia" platform to finance trading of commodities, in which the Austrian “Erste Group” is also participating.

 

The governeur of the Austrian Federal Reserve Bank Ewald Nowotny gave an interview on Feb 10th at “ORF Pressestunde” about current stock market as well crypto currencies fluctuations. He reacted calmly, stating that these fluctuations are somewhat a return back to normal as the leading indices have risen sharply during the last two years. As many other bankers Mr. Nowotny has got a critical attitude towards the Krypto-currencies, but he also belives in the great potential of the Blockchain technology for the banking sector and is already been used for it.

 

Canada will show the rest of the world how to make good use of the blockchain with several examples. F.e. the national research council makes the granting of subsidies more transparent with the help of the Ethereum Blockchain - the North American country also hopes to improve the identity verification of airline passengers through the Blockchain technology. For this purpose it has joined a program in which the World Economic Forum (WEF), the consulting company “Accenture” and the government of the Netherlands cooperate. The targeted identification of travelers via blockchain should allow governments to carry out risk assessments and security procedures on travelers before the security check, thereby reducing border crossing issues.

Also, one of Canada's largest pension funds “OMERS” also recently has established a fund focused on the crypto money Ethereum. The company „Ethereum Capital“ therefore plans to invest $ 50 million into this ecosystem.

 

 

Crypto Future GmbH
DC Tower, 28th floor,
Donau-City-Street 7
1220 Vienna, Austria

  • Phone: +43 1 376 50 50
  • E-Mail: office(at)cryptofuture.com

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