MakerDAO, creators of the Dai stablecoin, and Blockshipping, creators of the Global Shared Container Platform, (GSCP), are working together to transform the global container shipping industry, enabling significant savings in cost and CO2 emissions. The partnership is expected to accelerate development and availability of the Blockshipping GSCP by leveraging Maker DAO’s proven Dai Stablecoin System to power the GSCP platform.
MakerDAO and Blockshipping today announce a partnership to collaborate on transforming a critical part of the global supply chain industry – the container shipping industry.
Blockshipping is developing the blockchain based GSCP platform, which will be both the first global registry of the world’s approximately 27 million shipping containers and a joint platform for all players in the container shipping industry – allowing them to efficiently conduct a wide range of transactions related to the handling of shipping containers globally. Elements of the GSCP platform will utilize Maker’s proven Dai Stablecoin system.
The GSCP platform has the potential to reduce costs for the global shipping industry to the tune of USD $5.7 billion annually and reduce the global CO2 emission by more than 4.6 million tons every year.
ACCELERATING THE PLATFORM DEVELOPMENT
Blockshipping’s CEO, Peter Ludvigsen, is pleased with the prospect of accelerating the development of the GSCP platform through a collaboration with MakerDAO:
We believe that there is huge potential value in what Dai the stablecoin will bring to the GSCP platform. Leveraging Maker’s Dai Stablecoin System will enable Blockshipping to increase the pace of development of the GSCP platform and reduce time to market.
Rune Christensen, CEO of MakerDAO, sees a lot of possible benefits to Blockshipping by using the Dai Stability System to power the GSCP platform.
We look forward to a partnership with Blockshipping in developing the best possible solution for transforming the container shipping space, where the Blockshipping solutions on the longer term can be “powered by Dai. We are very eager to show that our stablecoin system is perfectly designed for supply chain projects like Blockshipping’s GSCP platform.
The MakerDAO Stablecoin System has created a digital currency, Dai, which is soft-pegged to the US dollar, bringing stability to the blockchain economy and enabling transaction in cryptocurrencies. Unlike other stablecoin systems, the Maker platform is backed by collateral, using smart contracts to always ensure the right balance between the amount of Dai and the collateral backing the issued Dai. It is a decentralized infrastructure without a central operator.
Launched in December 2017, the beta Dai Stablecoin System accepts Ether (ETH) as collateral but will introduce multi-collateral options this summer. As the platform evolves, there will be increased support for collateral types, including tokenized commodities and, in theory, even a batch of bicycles in a container or the shipping containers themselves could be tokenized and used as collateral for issuing Dai on MakerDAO’s platform. More information can be found at www.makerdao.com.
COMMON SCANDINAVIAN ORIGIN
Both MakerDAO and Blockshipping offer global platforms and works internationally, yet both companies have distinct Scandinavian origins and Danish founders and CEOs. This common cultural heritage makes for a shared focus on common values of trust and transparency.
Blockshipping is currently working out of Copenhagen, and MakerDAO, who already have five offices around the world, is exploring a possible relocation of its headquarters to Copenhagen within the next year.
For more information, please contact:
Michael Juul Rugaard
E-mail: [email protected]
Telephone: +45 44 40 31 32
Søren Peter Nielsen
E-mail: [email protected]
Telephone: +45 60 62 17 41
Top 3 Japanese Bank to Roll Out Services on Marco Polo Blockchain
Sumitomo Mitsui Banking Corporation (SMBC), Japan’s third-largest bank by total assets, will launch blockchain-based trade finance services in the second half of this year.
SMBC’s vice chairman Yasuyuki Kawasaki announced the news at a recent fintech seminar in Tokyo, saying that the bank will roll out new services for import and export companies using the Marco Polo trade finance blockchain platform, CoinDesk Japan reported Thursday.
Kawasaki said that, traditionally, trade finance is a “very complicated,” paper-based and time-consuming process. SMBC completed a proof-of-concept using the blockchain platform back in February, aiming to improve its trade operations. It said at the time that the platform “provides paperless, real-time connectivity and easier access.”
The Marco Polo network – built on blockchain software startup R3’s Corda platform – saw its first real-world transactions going live last month. The network was founded by R3 and trade finance specialist TradeIX.
The transactions took place between two German companies. One transaction involved the delivery of special hydraulic couplings from Germany to China and the other the delivery of pumps within Germany.
Since launching in 2017, the Marco Polo network has added some major financial institutions as members, including ING, BNP Paribas and Commerzbank, among others.
Announced this morning, BayernLB, Helaba and S-Servicepartner have also joined the Marco Polo network “for piloting and evaluating purposes.”
Daniel Cotti, managing director, Centre of Excellence for Banking and Trade for Marco Polo, said:
“Today, we have the resources and technology to transform the way banks serve their trade finance customers and enable easier access to credit, while minimizing risk and increasing transparency.”
Trade finance is increasingly being eyed as a beneficial use case for blockchain technology. Last July, another trade finance blockchain platform called– built on Hyperledger Fabric and with nine banks on board – went live.
Just yesterday, China’s forex regulator and manager, the State Administration of Foreign Exchange (SAFE), said that it has developed a blockchain system aimed to address inefficiencies in cross-border trade finance. Pilots in three regions and two cities are now
Naturipe farms uses blockchain to track blueberries from harvest to table
Naturipe Farm, in collaboration with tech company SAP Cloud Platform Blockchain service, will use blockchain to track Naturipe’s blueberries all the way from the point of harvesting to your dining table.
Carol McMillan, director of information technology at Naturipe Farms explained that the crates with berries are weighed, scanned and then sent to cold storage.
‘Moments after our produce is picked, the growers now place QR codes onto these crates. That QR code stays on those berries all the way to the store. Soon, by simply scanning the QR code with our smartphones, we’ll see proof of where the berries were grown and learn about the farm’s sustainability practices.’
With SAP’s blockchain technology, consumers and customers will have the possibility to easily access the complete origin and history of Naturipe Farms produce, simply by using their smartphones to scan a QR code on the product package.
‘Blockchain helps SAP customers track and trace goods across their entire supply chain by using SAP’s cloud platform blockchain services’, said Eric Somitsch, senior director of SAP Agribusiness.
‘Suppliers must use a provided code to enter their information into the blockchain. SAP’s blockchain captures that data and protects it with the world’s most stringent encryption security protocols.’
At present, most fruit is traced manually, using hand-written paperwork that accompanies the shipments.
‘Just in that process alone, there can be delays of up to four hours for an air shipment, up to two days for a boat shipment for a product to get cleared and go through customs’, Naturipe’s IT Director Carol McMillan added.
— Jan Musil (@janmusil) April 12, 2019
In the future, blockchain data can be used to make better decisions relating to production itself, she said.
‘Freshness is imperative to keep people healthy. We can use all the data input from weather patterns and harvest data to eventually better forecast the future.’
McMillan pointed out that currently, food supply chain stakeholders record their own product information and share only if necessary.
‘The goal with our new blockchain technology is to help create a system with higher trust and transparency that ultimately simplifies operations and reduces food waste’, she said.
‘By pioneering this technology with SAP, we are hoping to lead a movement in the produce industry that minimizes waste and promotes transparent sustainability practices.’
Blockchain art platform raises $2 million from Facebook, Coinbase, and more
A new digital art marketplace will make use of blockchain technology to ensure creators’ ownership. MakersPlace has just completed a seed funding round for $2 million (as reported byTechCrunch).
Uncork Capital has led the seed round, with investment also coming from Pinterest, Facebook, Coinbase and more. MakersPlace allows artists with limited knowledge of blockchain tech to easily fingerprint their works. They just need to provide photo ID, and an ERC-20 token will be generated for each work that they put on to the platform.
According to MakersPlace co-founder Dannie Chu, “millions of digital creators…are spending countless hours creating digital artwork, but they struggle with basic things like attribution…If you can’t create a sustainable model for digital creators to create, you’re not going to have art…People are actually valuing digital creations like physical creations”.
The work that is offered on the MakersPlace platform includes animation, photography, drawings, pixel art and 3D creations. They can be bought using regular payment methods as well as Ethereum (ETH), and MakersPlace takes a 15 percent cut of sales, similar to the model offered by hobbyist marketplace Etsy.