The Port Authority of Valencia (PAV), Spain, has integrated into the TradeLens platform, a blockchain ecosystem jointly developed by IBM and shipping giant Maersk, according to an official announcement published Nov. 5. Launched in August 2018, the TradeLens platform applies blockchain technology to global supply chains. The product aims to improve trade efficiency and security, wherein all participants of the supply chain, including shipping lines, port and terminal operators, customs authorities and other parties, can interact and access shipping data and documents. Per the announcement, PAV has integrated into the TradeLens project as “Early Adopters,” meaning that the port will …

The world’s four largest agriculture companies, commonly known as ABCD, have partnered to digitize international grain trading by using blockchain and artificial intelligence (AI) technologies, Reuters reports Thursday, Oct. 25. ABCD, composed of Archer Daniels Midland Co., Bunge Ltd., Cargill Inc., and Louis Dreyfus Co., states that blockchain implementation could make trading more efficient and transparent, as well as reduce costs. The conglomerate aims to digitize the system that has previously relied on paper contracts, invoices, and manual payments. According to grain industry news outlet World-Grain.com, blockchain and AI will be initially used to automate grain and oilseed post-trade execution …

Global management consultancy firm Accenture announced it had partnered with a subsidiary of Thailand’s oldest bank on a new blockchain tool aimed at supply chains in a press release Wednesday, Oct. 17. In the latest implementation of the technology for Accenture, the company partnered with Siam Commercial Bank’s fintech subsidiary Digital Ventures Co. Ltd on the blockchain solution, which has already gone live with its first clients. Known as Procure-to-Pay or B2P, it leverages R3’s Corda technology as its basis, the release confirms. Divyesh Vithlani, head of Accenture’s Financial Services practice in the ASEAN region commented: “The most exciting part …

Canada-based blockchain and crypto company DMG Blockchain Solutions Inc. (DMG) has announced the development of a global supply chain management platform for the legal cannabis industry, according to an announcement published Oct. 17. As reported by Canada’s national public news and information service CBC, the country’s government officially legalized recreational marijuana as of today. Cannabis was previously available only for medicinal use within the country. According to Health Canada, there are currently over 120 licensed cannabis producers in Canada, where one of the top producers has already stated that labor shortages and supply chain issues could lead to scarcity soon …

Rwanda has partnered with a U.K.-based blockchain startup to trace the mining of the conflict metal tantalum in the country, according to the startup’s press release, published Oct. 16. Rwanda is the world’s leading producer of tantalum, the mineral used in consumer electronics such as smartphones and computers. By using blockchain technology in partnership with startup Circulor, the Rwandan Mining, Petroleum and Gas Board plans to make the production of tantalum more transparent. The press release states that blockchain tech implementation will help “companies comply with the internationally mandated efforts to eradicate sources of funding for conflict minerals.” According to …

Former JPMorgan executive Blythe Masters predicts “tens if not hundreds” of blockchain projects will soon increase the efficiency of commodity markets, Bloomberg reports Tuesday, Oct. 9. Masters, who since leaving the investment banking giant has become CEO of her own software outfit Digital Asset Holdings, said commodity supply chains would greatly benefit from the advent of distributed ledger technology. “Supply chains are notoriously complex and inefficient,” she told attendees of the invite-only London Metal Exchange (LME) annual dinner, quoted by Bloomberg. As Cointelegraph has reported, the supply chain aspect of various global industries from shipping to agriculture has formed a …

Overstock.com’s venture capital subsidiary Medici Ventures has invested in Israeli-based technology company VinX to develop a blockchain-powered wine futures platform, according to a press release published October 4. The exact amount of the investment was not disclosed. Per the announcement, VinX plans to develop a token-based digital wine futures platform based on the Bordeaux futures model, that will enable the trade of wine futures on a blockchain platform. The initiative purports this will create a secure supply chain that assures product provenance and thus reduces fraud in the wine industry. According to the press release, 20 percent of wine globally …

The blockchain in agriculture and food supply chains market will be worth over $400 million in the next five years, according to a new report. Authored by Reportlinker, a report released this week “Blockchain: Agriculture Market Forecast until 2023” foresees the sector growing from its current worth of $60.8 million to $429.7 million at a compound annual growth rate of 47.8 percent. “Blockchain technology is revolutionizing the food and agriculture sectors by enhancing the decision-making capabilities of organizations,” a summary press release reads. “The blockchain market is expected to grow, owing to the increase in the demand for supply chain …

U.S.-based technology company Ideanomics has partnered with the Asia-Pacific Model Electronic Port Network (APMEN) Trade Tech Co. to streamline supply chains with blockchain tech, a press release reports Thursday, September 20. Together with APMEN Trade Tech Co., Ideanomics aims to leverage blockchain and what it calls “super artificial intelligence” to cut out “layers of middlemen” in port clearance and shipping handling for the Asia-Pacific Economic Cooperation’s (APEC) online port clearance system. The first instigation of the tools will take place in two major Chinese ports, Shanghai and Guangzhou, the former holding the title of the world’s busiest port in 2017. …

Albert Heijn, Holland’s largest supermarket chain, has revealed it is using blockchain to make the production chain of its orange juice transparent, International Supermarket News reports September 21. Albert Heijn will reportedly launch the new blockchain system in partnership with its supplier, Refresco. To give customers’ maximum information about the source of Albert Heijn’s own-brand “sustainable” product, they will be able to scan a QR code on the orange juice carton that will trace the end-to-end route of its production, from Brazil to the Netherlands. The system will reportedly store data that reveals the quality and sustainability ratings held by …

Digital invoicing startup Tradeshift CEO Christian Lanng countered “hype” over blockchain’s role in supply chains Wednesday, September 19, telling CNBC the technology “wasn’t ready yet.” In an interview at the World Economic Forum in Tianjin, China, Lanng highlighted the use cases for blockchain in areas such as identity and certifications, but argued supply chains were too much of a challenge for the technology in its current state. “If you want to have authenticity, if you want to know where it is sourced, that it is done in a responsible way [...] [blockchain] is a great technology to manage that kind …

Japanese ICT conglomerate Fujitsu is launching an IOTA-based proof-of-concept (PoC) for audit trail processes in the manufacturing industry, according to an official notice released August 25. The notice says the company will use the IOTA protocol as an “immutable data storage medium” for audit trails across “industrial production environments and supply chains,” with the aim to improve transparency, data trust, and data security. Leopold Sternberg, Program Manager at Fujitsu’s Munich-based Industry 4.0 Competence Center, is quoted as saying that the new partnership will “help roll out IOTA as the new protocol standard,” saying that the tech giant is “well-equipped” to …