Connect with us

Blockchain

The building blocks of a better supply chain

Blockchain, typically associated with financial services and volatile cryptocurrencies such as bitcoin, is now being touted as the next big thing in disruptive enterprise technology. Simply put, blockchain is a distributed database that exists on multiple computers at the same time. With each new transaction, a block is added with a timestamp and a link […]

The post The building blocks of a better supply chain appeared first on CryptoNewsReview.

Republished by Plato

Published

on

Blockchain, typically associated with financial services and volatile cryptocurrencies such as bitcoin, is now being touted as the next big thing in disruptive enterprise technology. Simply put, blockchain is a distributed database that exists on multiple computers at the same time. With each new transaction, a block is added with a timestamp and a link to the previous block, and then shared with all the computers in the network. The system is highly resistant to tampering, as there are multiple copies of the same data on the network.

Enterprises are currently exploring how the technology can help them increase transparency, potentially save on costs, and speed up business processes. Forbes recently released its first ever Blockchain 50, identifying billion dollar companies that are currently actively exploring using blockchain technology. While there were a number of financial organisations in the list, a range of industries and sectors were represented, with heavyweight names including Amazon, IBM, BP, HTC, Nestle, Microsoft and Walmart.

Optimising the supply chain

Although the technology is far from mature, one area where it’s already having a concrete impact is in manufacturing and the supply chain. A recent survey by Capgemini Research Institute found that more than half of organisations were currently experimenting with or implementing blockchain to improve manufacturing and the supply chain. The technology can provide manufacturers, shipping and logistics companies with a secure, paperless solution for tracking products through every stage of their lifecycle, offering organisations greater operational transparency and control.

Blockchain can be used to enable organisations to track a product efficiently and securely, as it passes through multiple stages and even locations, over several months. This detailed audit trail introduces the potential of huge cost and time savings by making several processes transparent and paperless. This includes releasing products through customs, tracking fresh produce to identify the source of contamination, and even tracing the movements of highly valuable and sensitive items.

Going beyond the hypothetical

Many companies are already using blockchain technology to enhance their supply chains. CargoX, an independent supplier of blockchain-based smart bill of lading (B/L) solutions, is one such example. The company provides a way to process B/Ls anywhere in the world. Based on the Ethereum network, their platform dramatically reduces B/L processing time from 5-10 days to just 20 seconds, by simply eliminating cumbersome, inefficient manual processes.

FedEx recently incorporated blockchain technology to track high-value cargo, with plans o expand the solution to eventually track the majority of their shipments. To further enhance the supply chain, a new blockchain system from IBM and Maersk aims to manage and track the paper trail of tens of millions of shipping containers, saving valuable time and resources.

Viant, an Ethereum blockchain-based platform for building supply chains partnered with the World Wildlife Fund to track tuna from the moment it’s caught, up until it reaches the shop floor. With the industry rife with corruption and criticism over how the fish are caught, being able to track the process from start to finish on transparent supply chains is a huge step forward to reducing the human and environmental cost of fishing.

What does blockchain mean for ERP?

Because blockchain has the potential to unite a large supply chain network using a decentralised system, by integrating blockchain solutions into an existing ERP system, the two can potentially work together to improve supply chain automation. This means that every company can maintain their own internal ERP system, while joining one rule-enforced blockchain network. In fact, two of the most highly publicised blockchain pilot technologies were implemented by embedding the technology inside ERP systems.

After a two-year pilot project, Walmart announced that it will use blockchain software developed by IBM to help grocers keep track of every head of lettuce or bag of spinach, to reduce the amount of spoiled and contaminated produce on their shelves. As its proof-of-concept, Walmart’s ERP system used blockchain technology to track the journey of a mango in a matter of seconds, from the very tree it was picked, to the packing house, cold storage facility and distribution centre, through to its final destination on the retailer’s shelves.

Looking forward

It’s important to remember that blockchain is an additive technology. It’s not going to replace the need for internal ERP, now or in the future. Instead, ERP systems and blockchain will work together to strengthen the integrity and automation of the supply chain.

The benefits of blockchain technology to streamline the supply chain is resulting in new organisations, standards and pilots with leaders in the industry. Although it may take years to iron out standards and interoperability issues, as blockchain technology matures, ERP systems will be the natural place to use this technology to optimise the supply chain, increasing efficiency, compliance and profitability.

Contributed article by Andres Richter, CEO, Priority Software

Source: https://cryptonewsreview.com/the-building-blocks-of-a-better-supply-chain/

Blockchain

Bitcoin: Here’s the long-term signal you might be ignoring

Republished by Plato

Published

on

Bitcoin’s market capitalization hitting $1 trillion corresponded with a surge in price on the charts. In the said case, the last of the market volatility and network momentum pushed the price higher, before the drop that followed. However, if we look at Bitcoin as an asset to be used as collateral, there is wider scope for the vertical growth of its market capitalization.

Arcane Research’s latest report looked at the journey from $1 trillion to $20 trillion, a figure that is the value of the global market for collateral. Currently, while this $20 trillion market is dominated by government bonds and cash-based securities, there is a widening gap that is creating systemic risk in the system.

This makes it possible for Bitcoin to bridge the gap and make the collateral system largely risk-free and stable, unlike the fragility being observed right now. Counterparty risk and credit risk are currently the top two challenges in the collateral system and Bitcoin could emerge as the ideal solution in such a case.

Using Bitcoin as collateral, and how it impacts the price

Source: Arcane Research

Based on the aforementioned report, it can be estimated that around 6,25,000 BTCs are being used as collateral in the crypto-market. At their current price, that would be worth approximately $30 billion. However, right now, Bitcoin accounts for just 0.15% of the total collateral market. With the figures for the same expected to rise, the same is likely to have a positive impact on the price in the long-term.

Of late, whenever Open Interest on derivatives exchanges has hit a peak, it has coincided with times of high volatility and hikes in Bitcoin’s price, with corrections following soon after. An over-leveraged market is closer to price correction, based on past instances in previous cycles.

Using Bitcoin as collateral, and how it impacts the price

Source: Arcane Research

The attached chart, for instance, highlights the OI in Bitcoin Futures corresponding to March 2020’s Black Thursday and the recent ATH of $58,330. Since derivatives markets were the ones to first introduce Bitcoin as collateral, a hike in OI in Bitcoin Futures signals there may be an increase in the amount of Bitcoin being used as collateral, and eventually the price of the asset, in the long-term.

Now, this metric may not influence the price in the short-term as much as other metrics like trade volume, exchange reserves, and the SOPR. In the long-term, however, leveraged futures may lead to a hike in Bitcoin’s price.


Sign Up For Our Newsletter


Source: https://ambcrypto.com/bitcoin-heres-the-long-term-signal-you-might-be-ignoring

Continue Reading

Blockchain

ProBit Exchange Lists EXGold (EXG) | Gold For The Digital Age

Republished by Plato

Published

on

ProBit Exchange Lists EXGold (EXG) | Gold For The Digital Age

Advertisement &  & 

EXGold (EXG) has officially listed their token EXG on ProBit Exchange as the digital gold solution solidifies their partnership networks with one of the top South Korean exchanges and its global demographics.

EXGold was developed to capitalize on the burgeoning stable coin niche through its innovative, digitized protocol. Eliciting unmatched price stability and promising conceptual NFTs, EXGold will offer a reliable revenue stream for holders willing to subscribe to predetermined lockup periods.

Pegged to the price of gold, EXGold will reflexively mirror the price of its real-world counterpart. This relationship is immutable, meaning 1 EXGold token will always be worth the price of 1 gram of gold.

Grounded in the Ethereum protocol, EXG offers frictionless transferability and inherent scarcity, with a circulating token supply fixed at 5 million. EXGold ensures a fair, secure incentive structure with programmable smart contracts and predetermined lock-up periods. Soon to be available on Uniswap, EXGold developers are pushing to establish EXG as a potentially leading stablecoin and safe-haven asset.

EXGold’s recent partnership with a Peruvian mine, enabling direct tradeability, is a first of potentially many, real-world partners and the platform is transforming how traders interact with gold and view the “buy” and “hold” process.

Advertisement &  & 

ABOUT EXGOLD

EXGold is a digital secure way to buy and hold gold and is pegged to 1 gram of gold.

http://www.exgoldproject.com/

ABOUT PROBIT EXCHANGE

ProBit Exchange is a Top 20 crypto exchange globally. We have completed over 200 rounds of IEO and have been consistently ranked Top 4 in Korea. ProBit Exchange provides unlimited trading access highlighted by over 1,000 trading pairs.

PROBIT EXCHANGE’S GLOBAL BRAND TRUSTED BY MILLIONS OF USERS 

100,000+ community members
800,000+ monthly active users

3,000,000 monthly web visitors

50,000,000 users on partnering aggregators and wallets such as CoinMarketCap

User interface of Multilingual website supporting 41 different languages

Marketing and community support in 8 key languages

Join our active programs and get huge benefits!

1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee

2. Stake Mining: Stake PROB and earn PROB at a rate of 4% per annum 

3. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit

4. ProBit Exclusive: Subscribe to 50% off Top 200 tokens 

5. Auto Hold Campaigns: Hold tokens and get 6% annualized returns

ProBit Global: www.probit.com

ProBit Korea: www.probit.kr

ProBit Telegram: https://t.me/ProbitEnglish


Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/probit-exchange-lists-exgold-exg-gold-for-the-digital-age/

Continue Reading

Blockchain

Bitcoin: Another Correction Stage is Over

Republished by Plato

Published

on

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The digital currency is actively recovering after a deep correction. For bulls, it was important to make the price rebound from the support area at $42,500. A lot of investors are scared by such high volatility of the cryptoasset, even hedge funds are pretty sure that the number of institutional investors, who are ready to invest in BTC, will significantly increase after these fluctuations slow down.

Citibank experts believe that there comes a crucial moment for Bitcoin and the digital asset may either become a global payment method or end up with another speculative blowout. JPMorgan specialists are very active in recommending their clients to hedge from other types of markets, such as stocks and precious metals, and invest up to 1% of their investment portfolios in Bitcoin and other digital currencies.

btcusd

In the daily chart, BTC/USD has once again rebounded from the area between Moving Averages and that’s still an indication of a bullish impulse. The previous movement from such an area resulted in further growth of the asset by more than $29,000. Possibly, this scenario may repeat this time as well and BTC may reach $72,000-75,000. Another signal in favor of this idea is another rebound from the support line at the RSI. However, the bullish scenario may no longer be valid if the instrument breaks the rising channel’’ downside border and fixes below $42,950. After that, the price may move downwards with the target at $29,135.

The current asset growth can’t even be stopped by growing criticism of the primary cryptocurrency. Bill Gates is sure that the performance of transactions in the Bitcoin network is extremely power-consuming if compared with conventional transfers, and that causes a lot of harm to nature in the long run. Rakesh Jhunjhunwala, who is called Indian Warrant Buffett, appealed for regulating authorities to ban BTC in India and said that the asset was just a speculation of the highest order.

Many investors think that the current aggressive growth of Bitcoin is just a temporary phenomenon caused by heightening interest among major investors. As far back as a year ago, Ray Dalio said that with cryptocurrencies moving higher and being accepted everywhere, these assets may face aggressive criticism as well as an eventual ban by authorities. This is exactly what we are witnessing right now.

btcusd

As we can see in the H4 chart, BTC/USD has broken the descending channel to the upside and may continue trading upwards to reach $65,000. However, one shouldn’t exclude that the pair may resume growing only after returning to the broken border. A strong signal in favor of a further uptrend will be a rebound from the support line at the RSI.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Source: https://themerkle.com/bitcoin-another-correction-stage-is-over/

Continue Reading
Blockchain2 days ago

Why Mark Cuban is looking forward to Ethereum’s use cases

Blockchain3 days ago

Google Finance adds dedicated ‘crypto’ tab featuring Bitcoin, Ether, Litecoin

Blockchain5 days ago

This was avoidable – The lost Bitcoin fortunes

Blockchain6 hours ago

Amplifying Her Voice

Blockchain4 days ago

Economist warns of dystopia if ‘Bitcoin Aristocrats’ become reality

Blockchain4 days ago

Inverse Finance seizes tokens, ships code: Launches stablecoin lending protocol

Blockchain3 days ago

NBA Top Shot leads NFT explosion with $230M in sales

Blockchain3 days ago

How KuCoin Shares (KCS) Can Create a Stream of Passive Income

Blockchain4 days ago

Here are 6 DEX tokens that have seen exponential growth in 2021

Blockchain4 days ago

6 Questions for Kain Warwick of Synthetix

Blockchain3 days ago

Korean Government To Levy Taxes On Bitcoin Capital Gains Starting 2022

Blockchain3 days ago

Litecoin, Monero, Dash Price Analysis: 28 February

Blockchain4 days ago

PARSIQ Integrates Solana Blockchain on its Platform

Blockchain4 days ago

XRP, STEEM, Enjin Price Analysis: 27 February

Blockchain4 days ago

3 reasons why Reef Finance, Bridge Mutual and Morpheus Network are rallying

Blockchain5 days ago

‘Bitcoin could reach $1 million or $1, and may do both of those’

Blockchain3 days ago

Top 5 cryptocurrencies to watch this week: BTC, BNB, DOT, XEM, MIOTA

Blockchain3 days ago

Polkadot, Cosmos, Algorand Price Analysis: 28 February

Blockchain4 days ago

What are the risks of trading cryptocurrencies?

Blockchain3 days ago

How did Bitcoin lending become so popular?

Trending