Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Archive for the ‘blockchain’ Category

IT Big Spender: AI, Blockchain, IoT

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Gartner Inc. presented its 2018 worldwide IT spending projections in a webinar yesterday, according to a report from The Wall Street Journal.

In its estimate, Gartner projected that worldwide IT spending this year would hit $3.7 trillion, up 4.5 percent over last year. Key areas that would help increase that spending included blockchain, Internet of Things, and artificial intelligence, among others.

Enterprise software spending is projected to reach $389 billion, up from 9.5 percent in 2017, as corporate budgets channel more funds into software-as-a-service.

Other big gains included devices, which are expected to grow 5.6% over last year to $704 billion.

As to AI:

By 2021, spending on AI will generate an estimated $2.9 trillion in new business value, as businesses seek to use AI-powered tools to “drive efficiency gains, create insights that personalize the customer experience, entice engagement and commerce, and aid in expanding revenue-generating opportunities,” Mr. Lovelock said.
– via WSJ

Written by turbotodd

January 18, 2018 at 10:32 am

Maersk and IBM to Form Joint Venture On Blockchain

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Maersk and IBM today announced their intent to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology.

The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem.

It will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones.

The cost and size of the world’s trading ecosystems continues to grow in complexity. More than $4 trillion in goods are shipped each year, and more than 80 percent of the goods consumers use daily are carried by the ocean shipping industry.

The maximum cost of the required trade documentation to process and administer many of these goods is estimated to reach one-fifth of the actual physical transportation costs. According to The World Economic Forum, by reducing barriers within the international supply chain, global trade could increase by nearly 15 percent, boosting economies and creating jobs.

The attributes of blockchain technology are ideally suited to large networks of disparate partners. A distributed ledger technology, blockchain establishes a shared, immutable record of all the transactions that take place within a network and then enables permissioned parties access to trusted data in real time.

By applying the technology to digitize global trade processes, a new form of command and consent can be introduced into the flow of information, empowering multiple trading partners to collaborate and establishing a single shared view of a transaction without compromising details, privacy or confidentiality.

Maersk, a global leader in container logistics, and IBM, a leading provider of blockchain, supply chain visibility and interoperability solutions for the enterprise, will use blockchain technology to power the new platform, as well as employ other cloud-based open source technologies including artificial intelligence (AI), IoT and analytics, delivered via IBM Services, in order to help companies move and track goods digitally across international borders.

Manufacturers, shipping lines, freight forwarders, port and terminal operators and customs authorities can all benefit from these new technologies –and ultimately consumers.

“This new company marks a milestone in our strategic efforts to drive the digitization of global trade. The potential from offering a neutral, open digital platform for safe and easy ways of exchanging information is huge, and all players across the supply chain stand to benefit,” said Vincent Clerc, chief commercial officer at Maersk and future chairman of the board of the new joint venture. “By joining our knowledge of trade with IBM’s capabilities in blockchain and enterprise technology, we are confident this new company can make a real difference in shaping the future of global trade.”

IBM’s blockchain platform is enabling hundreds of clients and thousands of developers to build and scale active networks across complex use cases, including cross border payments, supply chains, and digital identification.

IBM and Maersk began a collaboration in June 2016 to build new blockchain- and cloud-based technologies. Since then, multiple parties have piloted the platform including DuPont, Dow Chemical, Tetra Pak, Port Houston, Rotterdam Port Community System Portbase, the Customs Administration of the Netherlands, U.S. Customs and Border Protection.

The joint venture will now enable IBM and Maersk to commercialize and scale their solutions to a broader group of global corporations, many of whom have already expressed interest in the capabilities and are exploring ways to use the new platform, including: General Motors and Procter and Gamble to streamline the complex supply chains they operate; and freight forwarder and logistic company, Agility Logistics, to provide improved customer services including customs clearance brokerage.

Additional customs and government authorities, including Singapore Customs and Peruvian Customs, will explore collaborating with the platform to facilitate trade flows and enhance supply chain security.

The global terminal operators APM Terminals and PSA International will use the platform to enrich port collaboration and improve terminal planning. With support from Guangdong Inspection and Quarantine Bureau by connecting to its Global Quality Traceability System for import and export goods, the platform can also link users to important trade corridors in and out of China.

To address the specific needs of the industry, Maersk and IBM are establishing an advisory board of industry experts to help further shape the platform and services, provide guidance and feedback on important industry factors, and drive open standards.

The new company initially plans to commercialize two core capabilities aimed at digitizing the global supply chain from end-to-end:

– A shipping information pipeline will provide end-to-end supply chain visibility to enable all actors involved in managing a supply chain to securely and seamlessly exchange information about shipment events in real time.

– Paperless Trade will digitize and automate paperwork filings by enabling end-users to securely submit, validate and approve documents across organizational boundaries, ultimately helping to reduce the time and cost for clearance and cargo movement. Blockchain-based smart contracts ensure all required approvals are in place, helping speed up approvals and reducing mistakes.

Upon regulatory clearance, solutions from the joint venture are expected to become available within six months. The new company will be headquartered in the New York metropolitan area.

The platform is built on IBM Blockchain technology, which is provided through the IBM Cloud and powered by Hyperledger Fabric 1.0, a blockchain framework and one of the Hyperledger projects hosted by the Linux Foundation.

For more information about the joint venture visit: www.ibm.com/blogs/blockchain/2018/01/digitizing-global-trade-maersk-ibm.

Written by turbotodd

January 16, 2018 at 10:03 am

Posted in 2018, blockchain, shipping

You Can e-Pay Me Tuesday…

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Happy Monday.

Some e-pay and cryptocurrency news on today’s agenda.

First, TechCrunch is reporting that it is consolidating its different payment platforms under the Google Pay brand.

This inclues Android Pay (Google’s mobile payments and loyalty platform) and Google Wallet (it’s peer-to-peer payments app), and suggest that “this should make buying and paying through Google less confusing.”

“With Google Pay, it’ll be easier for you to use the payment information saved to your Google Account, so you can speed through checkout with peace of mind,” Bhat wrote. “Over the coming weeks, you’ll see Google Pay online, in store, and across Google products, as well as when you’re paying friends.”
– via TechCrunch

Meanwhile, they’re also reporting that encrypted messaging startup Telegram has plans to launch its own blockchain platform and native cryptocurrency (how many does that make across the industry, again??)

The launch will be funded with an enormous Initial Coin Offering, with forthcoming private pre-sales ranging into the hundreds of millions, potentially making it one of the largest ICOs to date. Demand is driven by the fact that rather than the ICO coming from a fresh startup, Telegram is a well-established messaging platform used around the world. Adopting a homegrown cryptocurrency could give Telegram’s payment system enormous independence from any government or bank — something Co-founder and CEO Pavel Durov is known to covet after investors took over his last company, Russian social network VK. Durov has not responded to TechCrunch’s several attempts to contact him regarding this story.
– via TechCrunch

TechCrunch further explains:

With cryptocurrency powered payments inside Telegram, users could bypass remittance fees when sending funds across international borders, move sums of money privately thanks to the app’s encryption, deliver micropayments that would incur too high of credit card fees, and more.
– via TechCrunch

But be forewarned, Investopedia is reporting that the market capitalization for cryptocurrencies crashed by more than $100 billion in 24 hours as authorities in South Korea, one of the largest markets for trading, announced that they were inspecting six of the country’s largest financial institutions for compliance with anti-money laundering laws.

One would expect a continued see-sawing of the pricing and adoption of cryptocurrencies as governments and regulators around the globe look to reconcile the opportunity crypocurrencies (and related technologies) present with the need to bring some order to this digital wild west.

Written by turbotodd

January 8, 2018 at 11:34 am

Walmart, JD.com, IBM and Tsinghua University Launch a Blockchain Food Safety Alliance in China

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Walmart, JD.com, IBM, and Tsinghua University National Engineering Laboratory for E-Commerce Technologies announced today they will work together in a Blockchain Food Safety Alliance that will kick off with a collaboration designed to enhance food tracking, traceability and safety in China,  to achieve greater transparency across the food supply chain.

The four companies will work together to create a standards-based method of collecting data about the origin, safety and authenticity of food, using blockchain technology to provide real-time traceability throughout the supply chain.

This will encourage accountability and give suppliers, regulators and consumers greater insight and transparency into how food is handled, from the farm to consumers. This has traditionally been challenging due to complex and fragmented data sharing systems that are often paper-based and can be error-prone.

Walmart, JD, IBM and Tsinghua University will work with food supply chain providers and regulators to develop the standards, solutions and partnerships to enable a broad-based food safety ecosystem in China.

IBM will provide its IBM Blockchain Platform and expertise, while Tsinghua University will act as a technical advisor sharing its expertise in the key technologies and the China food safety ecosystem. IBM and Tsinghua will collaborate with Walmart and JD to develop, optimize and roll out the technology to suppliers and retailers that join the alliance.

As a world leader in global food safety, Walmart works closely with suppliers, regulators, industry partners and the research community around the world. In China, it invests heavily in food safety research through the Walmart Food Safety and Collaboration Center and has promoted food safety, both through its own supplier network, as well as working with JD, which has rich omni-channel food supply chain management experience. The two have been able to leverage JD’s expertise in the application of artificial intelligence (AI), blockchain, big data and other new technologies to protect consumers.

Following IBM and Walmart’s announcement in August of a new consortium to enhance food safety, this collaboration brings IBM’s blockchain food safety expertise to China. IBM, Walmart and Tsinghua University have piloted the use of blockchain to trace food items, including pork in China and mangoes in the U.S., as they move through the supply chain to store shelves. Recent testing by Walmart showed that applying blockchain reduced the time it took to trace a package of mangoes from the farm to the store from days or weeks to two seconds.

The collaboration is designed to help ensure brand owners’ data privacy while helping them integrate their online and offline traceability for food safety and quality management channels. Companies that join the alliance will be able to share information using blockchain technology, and plans include them being able to choose the standards-based traceability solution that best suits their needs and legacy systems. 

This will in turn bring greater transparency to the supply chain and introduce new technologies to the retail sector designed to create a safer food environment and enhance the consumer experience.

The insights gained from the work in China will shed light on how blockchain technology can help improve processes such as recalls and verifications and enhance consumer confidence due to greater transparency in China and around the world. 

Written by turbotodd

December 14, 2017 at 11:25 am

KRACK

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I just got back from chasing a little white ball around the Texas Hill Country for a week.

Upon my return, I discovered the wonderful news about the KRACK attack (who comes up with these names??!).

First, the Equifax breach, now this.

If you’re not familiar, the KRACK exploit has to do with a serious weakness discovered in the WPA2 protocol (wifi).

According to a rundown in Ars Technica, the exploit allows attackers within range of vulnerable device or access points to intercept passwords, emails, and other data presumed to be encrypted. In some cases, the report goes on, it could allow perpetrators to inject ransomware or other malicious content into a website a client is visiting.

You can learn more details about the exploit and fallout here.

FYI, it won’t help to change your wifi password. Microsoft has issued a Windows patch for the exploit, Mac has beta fixes in developer releases of iOS, macOS, tvOS and watchOS, and Android is expected to have a fix in the coming weeks.

Now, on to the more positive news. Yesterday, IBM announced a new blockchain banking solution that will help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost of completing global payments for businesses and consumers.

TechCrunch captures the current situation and the blockchain remedy:

Currently, international transactions take days, if not weeks, to be completed. Frustration with that has seen services like TransferWise rise, but, great as they are, they remain solutions for savvy consumers or small businesses rather than all. A blockchain solution for banks addresses the root cause, and it could minimize the potential for errors thanks to the ledger-based system while also providing transparency and flexibility to banks. In one example, IBM said its service could be used to connect a farmer in Samoa with a buyer based in Indonesia, while covering more than just the payment itself. “The blockchain would be used to record the terms of the contract, manage trade documentation, allow the farmer to put up collateral, obtain letters of credit, and finalize transaction terms with immediate payment, conducting global trade with transparency and relative ease,” it said.
– via TechCrunch

Very cool stuff.

If you’re not yet on the blockchain, you can learn more here.

Written by turbotodd

October 17, 2017 at 8:32 am

IBM, Banks Collaborate to Advance an Open, Blockchain-based Trade Finance Platform

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Bank of Montreal (BMO), CaixaBank, Commerzbank and Erste Group have joined an initiative launched by UBS and IBM in 2016 to build a new global trade platform based on blockchain technology.

This new platform, called Batavia, is built to be openly accessed by organizations of all sizes anywhere in the world, and can support trade finance for transactions across all modes of trade, whether goods are being transported by air, land or sea.

Batavia advances the work initiated by UBS and IBM to develop a trade finance platform built on the IBM Blockchain Platform powered by the Hyperledger Fabric Blockchain framework.

The development work is being done collaboratively by the five banks and IBM in consultation with transportation industry experts as well as the banks’ customers to ensure that the platform is flexible and intuitive for customers and can be commercialized.

Batavia is targeting pilot transactions with customers on the network in early 2018 to test and refine the platform.

Designed to support more efficient, transparent and cost-effective transactions, the new global trade financing platform will help organizations more easily build multi-party, cross-border trading networks worldwide.

Batavia will allow transacting parties to view the progress of a shipment as it leaves the warehouse, is loaded onto a plane, truck or boat and arrives at the receiving port, automatically releasing payments incrementally along each step of the process.

The platform will help connect participants in a trading network, delivering the potential to transform global trade. The open nature of the platform, which encourages broad participation by many banks, vendors and regulators, will also help open new trade corridors, bring new players into the market and expedite processes that before were prohibitively time-consuming and expensive.

Traditionally, trading partners, including buyers, sellers, their banks, transporters, inspectors and regulators have relied on large volumes of paper-based documentation to securely conduct trade transactions. This process can take up to weeks, incurring costs, making data vulnerable to errors due to repeated manual reprocessing and tying up capital.

Delays and lack of transparency in trade can make it difficult for companies to access financing, limiting their ability to trade across borders and grow revenues. The Batavia platform will eliminate the necessity to handle and compare documents, allowing buyers, sellers and their banks to execute transactions with a high degree of efficiency and transparency.

Blockchain enables greater transparency by digitizing agreements entered into a permanent, immutable ledger that all involved parties in a trade transaction can view. The status of a contract until its fulfillment is updated automatically through IoT sensor data or user input.

Batavia will save users time and reduce costs by ensuring the integrity of data as it changes hands, reducing third-party verification processes and minimising the potential for errors, tampering or disputes. When all participants in a transaction can access a shared version of the truth, they can interact with greater trust, build larger and more distributed networks, and in turn, grow revenue.

You can learn more about the IBM Blockchain Platform here.

Written by turbotodd

October 5, 2017 at 11:22 am

Blockchain Mo’

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The cryptocurrency momentum continues in spite of a fluctuating Bitcoin, suppression in China, and JPMorgan CEO Jamie Dimon’s recently professed skepticism about the fate of cryptocurrencies.

Dimon warned that “governments will eventually crack down on cryptocurrencies and will attempt to control it by threatening anyone who buys or sells bitcoin with imprisonment.”

Of course, we have to separate the emerging digital currencies themselves from the underlying blockchain technology that makes currencies like bitcoin work.

Just today, Fortune’s “The Ledger” blog reported that Oracle has introduced blockchain cloud services to help its clients link their existing inventory and supply chain software to a secure, distributed transaction system.

And Juniper Research recently released a report that indicated IBM is leading the way on blockchain tech, with more than 40 percent of tech execs and leaders in the blockchain sector ranking IBM at the top.

Go here to learn more and to get started with the IBM Blockchain Platform.

Written by turbotodd

October 3, 2017 at 9:48 am

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