Blockchain 

Dutch Bank ABN AMRO Launches Blockchain Inventory Tracking Platform ‘Forcefield’

Dutch bank ABN AMRO announced that it is launching a blockchain inventory tracking platform dubbed Forcefield in a press release published on May 17. Per the announcement, the platform is an Internet of Things solution that allows the monitoring of physical trade inventories with sensors and near-field communication chips. Forcefield was developed over the past year as a stand-alone product and became an independent company following a successful proof-of-concept that was conducted with consulting firm Accenture. The bank claims that the system can lead to more secure physical handling processes…

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Blockchain 

Austrian Fiber Producer Lenzing to Launch Blockchain-Enabled Tracking in 2020

Major global fiber producer Lenzing will implement blockchain tech to bring more transparency to its fiber supply chain, the firm announced on May 17. Headquartered in Lenzing, Austria, the fiber manufacturer partnered with Hong Kong–based blockchain firm TextileGenesis to incorporate the technology in its fiber business TENCEL. According to the press release, Lenzing expects to launch its supply chain traceability platform in 2020, while in the near future, the company will test the technology along with all the involved chain participants. Lenzing decided to deploy distributed ledger technology (DLT) following…

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Blockchain 

Luxury Fashion Brand Alyx to Use Iota’s DLT for Supply Chain Tracking

Luxury fashion brand Alyx intends to use Iota’s distributed ledger technology (DLT) for supply chain tracking, cryptocurrency news outlet The Block reports on May 15. Per the report, Iota’s system will be implemented in partnership with global manufacturing company Avery Dennison to allow Alyx’s customers to have full insight into their supply chain. By scanning QR codes with an app, it will reportedly be possible to track the course traveled by the item from its creation to the point of sale. The Block claims that data concerning the apparel’s production…

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Blockchain 

Starbucks Working With Microsoft for Blockchain-Based Coffee Tracking Platform

United States-based coffee chain Starbucks will implement tech giant Microsoft’s Azure Blockchain Service to track coffee production, tech news site GeekWire reports on May 6. Starbucks first announced its “bean to cup” initiative in 2018, stating that it would work with farmers in Costa Rica, Colombia, and Rwanda to pilot a blockchain-based coffee-tracking system. The system will purportedly allow customers to track the production of their coffee and will open up potential financial opportunities for coffee bean farmers on the backend. Starbucks further noted that they would open source the…

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Blockchain 

Retail Giant Carrefour Applies Blockchain for Tracking Milk Product Supply Chain

French retail giant Carrefour has continued blockchain development by applying the technology for tracking milk, according to a press release published on March 1. Starting from March, the retail giant is gradually rolling out its new blockchain-powered product, Carrefour Quality Line (CQL) micro-filtered full-fat milk. CQL is touted to guarantee consumers complete product traceability across the entire supply chain — from farmers to the store shelves. With CQL, consumers will be able to see the GPS coordinates of farmers whose animals’ milk was collected, get information about when the milk…

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Blockchain 

Two Investment Firms Launch ETF Tracking Cloud Computing and Blockchain Companies

United States-based Investment management firm AdvisorShares and investments advisory company Sabretooth Advisors will jointly launch an exchange-traded fund (ETF) that tracks tech companies, including those involved with blockchain and cloud computing, MarketWatch reported on Feb. 6. ETFs are marketable securities that track a basket of assets proportionately represented in the fund’s shares. ETFs are offered on all asset classes, including traditional investments and alternative assets like commodities or currencies, also enabling investors to short markets or to gain leverage. The idea of the new AdvisorShares Sabretooth ETF (ticker: BKCH) —…

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Blockchain 

How DLT Helps Tracking Gems and Prevents Fraud

Last week, Russia’s Ministry of Education and Science introduced a blockchain-enabled platform for tracking diamonds. Indeed, blockchain has been bringing transparency into the diamond industry — a complex ecosystem where corruption and irresponsible mining appear to be largely present. Self-regulation in the diamond industry — and how Everledger’s arrival pivoted it from a dead end The history of blockchain in the diamond industry can be traced back to May 2015, when Australian entrepreneur Leanne Kemp founded Everledger — a global digital registry for diamonds powered by the IBM Blockchain Platform.…

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Blockchain 

Russia’s Ministry of Education Introduces System for Tracking Diamonds via Blockchain

Russia’s Ministry of Education and Science (Minobrnauki) has introduced a blockchain-enabled platform for tracking natural diamonds, government-backed news agency TASS reports today, Jan. 30. The new Russian diamond tracking technology claims to fully guarantee the authenticity of diamond products across all the supply chain, from extraction and polishing to the final owner. Based on emerging IT technologies and blockchain, the new system intends to prevent market participants from losing their financial assets since the diamond market has both natural and synthetic diamonds, as well as fake stones, TASS reports. According…

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Blockchain 

NYSE Operator Partners With Blockstream to Launch Crypto Tracking Tool for Investors

The Intercontinental Exchange (ICE) has partnered with major global blockchain firm Blockstream to launch its Cryptocurrency Data Feed product, as ICE Data Services tweeted on Jan. 24. Founded in 2000 in the United States, the Intercontinental Exchange is a global company that owns exchanges for financial commodity markets and operates 23 global exchanges, including the New York Stock Exchange (NYSE). According to the announcement, ICE’s new crypto data service enables real-time and historical data for more than 60 cryptocurrencies from major trading markets and exchanges worldwide. Blockstream has introduced the…

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Blockchain 

Major Spanish Energy Company to Use Blockchain in Renewable Energy Tracking

Spain’s major energy company, Iberdrola, has started using blockchain to track renewable energy, Spanish independent news agency Europa Press reports on Monday, Jan. 14. The first trial was conducted in cooperation with Kutxabank, a local bank based in the Basque Autonomous Community that owns a substantial part of Iberdrola’s equity, and its subsidiary Cajasur. During the pilot, Iberdrola monitored the renewable energy delivered from two wind farms and one power station to banks’ offices located in Basque Country and the southern city of Cordoba. The company used Energy Web Foundation…

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