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Leading UK Port Operator Seeks to Improve Shipping Logistics via Blockchain

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A UK port operator that handles 25 percent of cargo shipments in the country wants to integrate blockchain in its supply chain.

UK’s leading port operator, Associated British Ports (ABP), has signed an agreement with digital logistics enabler Marine Transport International to develop blockchain use for port logistics, Dry Bulk magazine reports Wednesday, September 19.

Under the agreement with Marine Transport International, ABP — which operates in 21 ports and carries out 25 percent of the cargo shipments in Great Britain — will take part in pilot shipments using blockchain technology.

According to Dry Bulk, each party in ABP’s supply chain lacks connection with others, as port operators, carriers, and shippers use different systems. As a blockchain solution for port logistics could reduce time spent on the manual review of scattered data, Jody Cleworth, founder and CEO of Marine Transport International, noted:

“With blockchain, we can connect all those systems to ensure data is accurately and quickly shared, helping speed-up and simplify the flow of trade in and out of the UK.”

Earlier in June, Denmark revealed its plans to implement blockchain technology to register ships in local ship registers. A subsidiary of Abu Dhabi Ports has also launched its own domestic blockchain solution for logistics.

In May, Fred Smith, CEO for global delivery service FedEx, commented on the benefits of blockchain for supply chains, calling the technology “the next frontier that’s going to completely change” the whole industry.

Home Crypto News France Finalizes New ICO Framework to ‘Attract Innovators Globally’
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France Finalizes New ICO Framework to ‘Attract Innovators Globally’
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France Finalizes New ICO Framework to ‘Attract Innovators Globally’

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The French government has approved a legal framework for ICOs made to protect contributors.

France’s Minister for the Economy and Finance has announced that the government has accepted an article of the Business Growth and Transformation bill (PACTE) dedicated to Initial Coin Offerings (ICO), according to a tweet posted Wednesday, September 12.

As finance Minister Bruno Le Maire states, the French stock markets regulator Autorité des marchés financiers (AMF) is now empowered to give licenses to companies that want to raise funds via an ICO, with the legislation aiming to help protect contributors’ interests.

Le Maire also hopes that the current legal framework for ICOs in France will “attract investors from all over the world.”

According to the PACTE project published by the National Assembly (lower party of the French parliament), prior to any token issuances, a company must apply for a license from the AMF providing detailed information on the offer and issuer. The measures will provide additional guarantees for ICOs, which AMF had previously considered risky.

France’s President Emmanuel Macron has historically been bullish on emerging innovative technologies, last year proposing to convert France into a “startup nation.” Later in 2018, in line with Macron’s words, Le Maire introduced his PACTE bill, which aims to transform and innovate the French economy, in March stating France was ready for a “blockchain revolution”.

This year, France has also seen changes in rules surrounding crypto taxation, though in a more stringent direction. As Cointelegraph reported in May, the French Council of State clarified the specifics of Bitcoin taxation in France to move the tax for Bitcoin trading from a progressive taxation (between 14 and 45 percent) to a fixed taxation of 19 percent.

In terms of the wider European context, as Cointelegraph reported earlier this month, European Parliament members held a meeting with blockchain experts on ICO regulation in early September.

Later Belgian think tank Bruegel released a report that called for unified legislation on cryptocurrencies in the EU and more scrutiny on how they were distributed to investors.

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