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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 World Economic Forum Outlines Over 65 Blockchain Use Cases for Environmental Protection
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World Economic Forum Outlines Over 65 Blockchain Use Cases for Environmental Protection
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World Economic Forum Outlines Over 65 Blockchain Use Cases for Environmental Protection

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The World Economic Forum has outlined more than 65 blockchain use cases for environmental protection in a recent report.

The World Economic Forum (WEF) foundation has outlined more than 65 blockchain use cases for solving the “most pressing” environmental challenges, in a report published September 14.

In the report, titled “Building Block(chain)s for a Better Planet,” the Switzerland-based WEF has highlighted a large number of blockchain applications that could be used to help solve the world’s most pressing environmental challenges.

The proposed applications, according to the WEF, can enhance the environment protection efforts in several ways, such as new financing models for environmental outcomes, the realization of non-financial value and natural capital, outlining more efficient and cleaner decentralized systems, and others.

In addition to the potential for improving existing processes, the report also mentions the possibility of introducing completely new blockchain solutions – so-called “game changers” – that are expected to completely transform the way major environmental issues are managed.

These “game changers” include “see through” supply chains, decentralized energy and water management systems, sustainable fundraising sources, carbon markets, and others.

According to the report, the next important step in introducing blockchain applications for environmental protection is the establishment a “responsible” and “global” blockchain ecosystem, as opposed to funding specific, separate projects.

In conclusion, the WEF also pinpointed the problem of excessive use of blockchain caused by the hype around the industry.

To solve this issue, the organization has suggested three major questions to be considered as a starting point for any blockchain-related initiative: can the technology solve a specific problem, can the risks of unintended consequences be managed acceptably, and whether a functioning ecosystem of stakeholders is available.

On September 13, the WEF published a joint report that has estimated that the distributed ledger technology (DLT) could add $1 trillion to the volume of global trade over the next ten years. The report also argued that the embracement of the technology by major governments, including the member-states of the European Union, is “unavoidable.”

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