Elon Musk’s Tesla and CargoSmart Test Blockchain Tech To Speed Up Cargo Release Process

2020-4-8 22:34

In collaboration with CargoSmart and China’s Shanghai Port Group, Tesla company is aiming at transforming the goods importation process in China using the new blockchain application. The companies aim at making the whole clearing process both cost and time effective.

Formalities related to shipping transactions are quite chaotic. Document verification which is paramount on the other end over time has proved to be lengthy and messy. Many documents e.g the port documents and bill of lading need to go through multiple parties that consumes a lot of time. U.S. electric car manufacturer Tesla is working on a way that will make importation of goods into China easier. The pilot used blockchain to share all relevant shipping data and documentation among all concerned parties, including Tesla.

The China Shipping industry is evidently one of the sectors that has recently shown interest in blockchain-based innovations. Tesla along with Chinese ship operator COSCO are aiming at rolling out an app that will shorten the normal cargo release time. This will, in turn, allow global logistic companies to possess ownership of goods once they have been cleared.

Blockchain all but set to revolutionize the shipping industry

In a bid towards adopting a paperless, seamless and trusted process at the port of Shanghai, CargoSmart has partnered with electric car company Tesla, COSCO and the Shanghai International Port Group (SIPG) to lessen consignee and shipment agent authentication process. CargoSmart recently stated that the new application will accelerate the digitization of the shipping enterprise procedures and the further increment of the current international supply chains.

The blockchain-based application uses blockchain technology to exchange real-time shipment data between the terminal operator and the carrier. The shipping processes become faster since documentation is digitized which in turn reduces all the shipment verification steps .

Plans for future upgrades?

Since December 2019 when Tesla with the help of Cosco and the Shanghai International Port Group (SIPG) streamlined its processes, the application has been updated. As at now it can boast of more helpful features like “terminal release, display laden gate out and the appointment date.” This in turn ensures that those waiting for their shipments will have better visibility of their cargoes.

More tests are scheduled to be conducted at ports in Xiamen, Qingdao and Laem Chabang in Thailand. This is to widen the scope by involving more carriers and terminals on the platform. The company is planning to roll out a blockchain association for the members of the Global Shipping Business Network.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Chronobank (TIME) íà Currencies.ru

$ 29.46 (+0.96%)
Îáúåì 24H $126.377k
Èçìåíåèÿ 24h: -1.83 %, 7d: -6.48 %
Cåãîäíÿ L: $29.08 - H: $30.54
Êàïèòàëèçàöèÿ $20.919m Rank 837
Öåíà â ÷àñ íîâîñòè $ 0.844 (3390.52%)

time documents tesla port bill lading need

Èñòî÷íèê: bitcoinexchangeguide.com

time documents → Ðåçóëüòàòîâ: 44


Ôîòî:

Mafia expert: ‘Ndrangheta crime family now resembles a ‘criminal blockchain’

International investigators warn the ‘Ndrangheta mafia family now resembles a “criminal blockchain” following the recent decentralization of its internal power structures. Usually, ‘Ndrangheta families in Canada took orders from “mother clans” in Calabria, but for the first time, mobsters outside of Siderno are making decisions that impact operations all the way back to Italy, reports National Post.

2019-7-25 16:24


Ôîòî:

Siemens contractor pleads guilty to planting ‘logic bomb’ in spreadsheet software

A contract programmer has pleaded guilty to planting “logic bombs” inside a client’s spreadsheets in an attempt to receive extra work from the company every time the software crashed. David Tinley — the Pennsylvania-based 62-year-old contract programmer in question — now faces a fine of up to $250,000, up to 10 years in prison, or both.

2019-7-25 12:25


Ôîòî:

South Korea’s Shinhan Bank Introduces Blockchain Platform for Document Verification

South Korea’s Shinhan Bank has announced the introduction of a blockchain system that replaces the manual verification process of documents, according to a report by CNB Journal. The blockchain system has been applied to the Shinhan Doctor Loan product aimed at medical professionals and considerably reduces the time spent to verify documents such as certificates […] The post South Korea’s Shinhan Bank Introduces Blockchain Platform for Document Verification appeared first on Coinjournal.

2019-5-28 13:56


Ôîòî:

Op Ed: A Summary of

In the latest on the ongoing legal dispute between the New York Attorney General (NYAG), cryptocurrency exchange Bitfinex and stablecoin issuer Tether, the New York Supreme Court has modified an April 24, 2019, preliminary injunction and now Bitfinex is allowed to continue using the Tether reserves that were loaned to it to maintain its ordinary course of business, such as paying employees and consultants.

2019-5-18 22:14


Ôîòî:

Facebook memos show reluctance to prevent 5-year-olds from making accidental purchases

New Facebook documents revealed yesterday shows the company’s attitude towards children spending their parents’ money to be flippant at best… and gross at worst. We first began to hear rumblings about these documents and what they reveal about Facebook and gamer kids last week, when Reveal from the Center for Investigative Reporting showed snippets.

2019-1-26 02:21


The West’s unconscious bias against tech in Afrika limits innovation

January 2017 was special in many ways; important to note, it was the first time I ever boarded an airplane, but also it was the time I underwent a grueling visa experience. Armed with notarized documents, among them, a promissory 6-month work contract, particulars of my record of employment (hint; a startup), curriculum vitae, birth certificate, and academic certificates — I set off for the Democratic Republic Congo (DRC).

2019-1-24 13:37


Ôîòî:

Bitcoin Cash Follows Ripple Price Pump On Back Of Bitmain IPO News

Bitcoin Cash (BCH) staged an unlikely comeback September 27, rising almost 25 percent after news mining giant Bitmain had finally filed for an initial public offering (IPO). BCH Hits Multiweek Highs Data from Coinmarketcap shows BCH beating out competition from all of the top twenty cryptocurrency assets for the 24 hours to press time, hitting $564 – its highest value since September 5.

2018-9-28 23:30


Ôîòî:

How Exactly Should You Choose A Cryptocurrency Exchange?

Choosing a cryptocurrency exchange can be a difficult task. It’s not a fast process, it’s hard work. Even signing up to a cryptocurrency exchange can be time consuming, and requires you to rifle through a number of intrusive questions before uploading pictures of your personal documents, overall, it’s not a nice experience and therefore you don’t want to have to keep doing it.

2018-8-17 23:00


Ôîòî:

An Australian Blockchain Experiment: Tracking Global Almond Shipments

Following a successful 2016 trial of blockchain technology in an interbank open account transaction, the Commonwealth Bank of Australia (CBA) has partnered with five international and Australian companies to ship 17 tonnes of almonds from Melbourne, Australia, to Hamburg, Germany, using a new distributed ledger platform built on the Ethereum blockchain.

2018-7-31 23:13


Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

It Isn’t Layer 1 or Layer 2, It’s Time for LayerZero

While layer 1 solutions like Solana (SOL), Avalanche (AVAX), Binance Smart Chain (BSC), Polkadot (DOT), and Cardano (ADA) are trying to compete with Ethereum, layer 2 solutions like Arbitrum and Optimism are here to solve the issue of high fees and congestion on Ethereum network and have been gaining traction.

Jump Trading Group formally introduces Jump Crypto

Jump Trading Group, a data and research-driven trading business in operation for more than twenty years, today announced the formal launch of Jump Crypto, a dedicated unit focused on the development of blockchain ecosystems and cryptocurrency.