Are you ready for a new business week? The #MetaHash team believes that in order to be productive at work, you should always read the #MetaNews column and be up to date. Let’s not waste time!
Deloitte Report Says Businesses Who Don’t Consider Blockchain ‘Risk Falling Behind’
The story:
A new report issued by audit and consulting firm Deloitte has found that blockchain technology will become a critical asset to the retail and consumer packaged goods (CPG) industry.
Details:
The report analyzed over 50 potential blockchain use cases and suggests that the “potential impact” of the nascent technology “is huge.”
According to the report “New Tech On The Block”, blockchain will become “a standard operational technology across the financial, manufacturing and consumer industries,” saying that the next five years will be “a tipping point” as businesses begin to grasp blockchain’s potential. The report emphasizes that businesses should assess whether their strategic objectives warrant blockchain investment, adding that those who do not at least consider the possibilities are “at risk of falling behind.”
Focusing on the retail and CPG supply-chains, Deloitte argues that the technology can resolve the four so-called major “pain points” of the industry, these being traceability, compliance, stakeholder management, and flexibility. The report suggests that as an auditable, immutable, and disintermediated system, with smart contract operability to boot, blockchain can effectively address all of these areas.
Why it is important:
Local and global projects alike pay significant attention to the public statements by top consulting companies, they are often regarded as a useful sources of information. Recognizing the blockchain technology as must-have of the business in the near future is a big step in the development of innovation.
Korean Customs Service to Develop Full-Scale Blockchain Customs Platform
The story:
The process of customs clearance of goods in Korea will be simplified by exchanging data and automatically generating customs declarations.
Details:
The Korean Customs Service (KCS) has signed an MoU (Memorandum of understanding) with the Korean operator of Malltail to develop a blockchain-based customs platform for the e-commerce industry, reports local media outlet Chosun.
Malltail is the leading consumer parcel forwarding service to Korea, with reportedly over one million users. Its Korean operator, Korea Center, will be tasked with business and technical development of the blockchain-based customs platform, which is to be operated by the KCS for seven Malltail distribution centers across the US, Japan and Germany.
The company anticipates that once the technology is implemented at full-scale, the process for customs clearance of goods will be simplified through the data sharing and the automatic generation of customs declarations, resulting in a more transparent and efficient customs service overall.
Why it is important:
The customs business requires full transparency and high speed of task execution, but isn’t it the “second definition” of the blockchain? This case is just another example of integrating blockchain into a particular industry.
Abu Dhabi Ports Launches First Domestic Blockchain Solution for Logistics
The story:
Maqta Gateway LLC, a wholly owned subsidiary of Abu Dhabi Ports, has become the first entity in Abu Dhabi to deploy its own blockchain solution, Construction Business News reports
Details:
Maqta Gateway has developed and launched Silsal — a blockchain-based technology that aims to improve efficiency in the shipping and logistics industry.
According to Construction Business News, Silsal will initially be available to freight forwarders and their customers, with the new system being rolled out to “the rest of the trade community as a complementary tool to the existing mPCS (Maqta’s Port Community System).”
Using an internal blockchain, Abu Dhabi Ports hopes to reduce paperwork, facilitate real-time status updates and accelerate information exchange.
Silsal was developed internally in the Digital Innovation Lab of Maqta Gateway and has been field tested with strategic customers of Abu Dhabi Ports, as Construction Business News reports.
Why it is important:
The scope of logistics at the moment is one of the most global in the market. Many of the logistics companies have faced problems that arise at all stages of their work, but each of them can be solved through the introduction of blockchain technology in the workflow.
