KW 06: Daimler starts another blockchain project, IBM uses blockchain to process casual labor contracts, Saudi Arabia invests in blockchain platform Vakt


Daimler starts another blockchain project: Daimler is working with blockchain startup Circulor on a pilot project for transparency on CO2 emissions in the cobalt supply chain. Circulor is developing a blockchain track and trace system for industrial supply chains. The pilot by Daimler and Circulor will track the emissions of greenhouse gases and the secondary materials in the battery manufacturing supply chains.

IBM uses blockchain to process casual labor contracts: Tech giant IBM is developing a new blockchain product that will automate the reconciliation of casual labor contracts. A casual work contract is a non-permanent employment relationship, which typically offers contractees less job security, and often part-time or payment on a piece work basis. IBM has its sights on the blockchain for enterprise management of such contracts, as it notes that processing the high volume of contracts generated by casual workers is a cumbersome and insufficiently automated task for firms at present.

Saudi Arabia invests in blockchain platform Vakt: The investment arm of one of the biggest firms in the world by revenue – oil giant Saudi Aramco – has made a $5 million investment in Vakt, a commodity post-trade processing platform that is based on blockchain technology. Along with eleven other investors who are the world’s most significant players in energy and commodities trading, Saudi Aramco Energy Ventures (SAEV) is the latest one to join the list. Other founders include BP, Equinor and Shell, Gunvor, Koch Supply & Trading, Mercuria, ABN Amro, ING, Societe Generale, Chevron, Reliance Industries, and Total. Since Vakt is built upon blockchain technology, it provides a single node of truth for both buyers as well as sellers.,

Indian government think tank publishes blockchain strategy: A policy think tank of the Indian government, NITI Aayog, has released its national blockchain policy draft paper dubbed “Blockchain — The India Strategy” which explains different use cases of blockchain in India along with some conclusions from ongoing pilot projects. The strategy document targets stakeholders such as government, enterprise leaders and citizens with the aim of demystifying the concepts surrounding blockchain technology. It aims to create a concrete national plan of action towards blockchain technology.

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Fourteen of the largest Japanese banks and securities companies have announced that they are starting to pilot a blockchain-based inheritance platform.


Blockchain hasn’t arrived in German businesses: The topic blockchain is currently not a concern for most companies in Germany. Only five percent of companies use the blockchain and only 12 percent are planning or discussing its use, according to a recent poll by Bitkom Research. The technology is most widespread among large companies with more than 500 employees. Here, 12 percent are already using it. Particularly banks and insurers are making use of the blockchain.

Blockchain technology to save billions in aircraft maintenance: Leading companies operating in the MRO market around the world have announced the establishment of the “MRO Blockchain Alliance”. Members currently include Bolloré Logistics, Cathay Pacific, FLYdocs, HAECO Group, Ramco Systems, SITA, and Willis Lease Finance Corporation, supported by Clyde & Co. In the coming months, the alliance will launch a proof of concept to demonstrate the use of blockchain to digitally track and record the movements and maintenance history of parts across a wide number of players. These include airlines, lessors, original equipment manufacturers (OEMs) such as engine producers, logistics suppliers, and maintenance providers.


“Blockchain helps with diversification.”
Benjamin Graf von Hochberg, Lead Key Account Management partner program at Exporo, talks about investing in blockchain technology.


Blockchain company analyzes DragonEx burglary: Singapore-based exchange DragonEx says it has been hacked for an undisclosed amount in a number of cryptocurrencies. According to US-based blockchain firm Chainalysis, a group with connections to North Korea was behind the attack. Hackers of Lazarus Group created a fake company claiming to offer an automated cryptocurrency trading bot, complete with a fabricated website and employees, and approached key figures at DragonEx. Chainalysis said the Lazarus tactics demonstrate another level of sophistication because they go beyond conventional email or small-scale website phishing attempts.,

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