Global Shipping Business Network (GSBN) Bullish on Blockchain

Blockchain technology has had a rocky start in the logistics industry, with Danish logistics firm Maersk terminating its blockchain-based supply chain platform last year. However, Hong Kong-based Global Shipping Business Network (GSBN) has not given up on blockchain applications in global trade. In fact, the nonprofit consortium sees blockchain as a crucial logistics tool in the long term.

GSBN currently operates one of the world’s largest platforms that can be described as an alternative to Maersk’s TradeLens tool, according to a report by the South China Morning Post. The platform is based on a permissioned blockchain with strong data governance, allowing only authorized parties to contribute and consume shipping-related data.

Since launching its blockchain-based shipping platform in 2021, GSBN has tapped major shipping partners like Cosco, Orient Overseas Container Line, and Hapag-Lloyd. In addition, the organization has also reached partnerships with terminal operators such as Hutchison Ports, SPG Qingdao Port, PSA International, Shanghai International Port Group, and Cosco Shipping Ports. Among the members, only German Hapag-Lloyd and Singaporean PSA International are not based in mainland China or Hong Kong.

Despite past failures of major industry firms like Maersk in implementing similar projects, GSBN CEO Bertrand Chen is confident that blockchain technology has yet to fully catch on and its adoption may take another decade. However, with the world’s largest shipping companies on board, the potential of blockchain in logistics seems promising.

The use of blockchain technology in the logistics industry has been a topic of discussion for several years. It is seen as a tool that can increase transparency and efficiency, as well as reduce fraud and errors. However, the adoption of blockchain has been slow due to concerns about security, scalability, and interoperability.

GSBN’s permissioned blockchain platform addresses some of these concerns. With strong data governance, it allows only authorized parties to access data, reducing the risk of data breaches. In addition, by bringing together major shipping partners and terminal operators, the platform aims to increase efficiency and reduce the time and costs associated with shipping.

While Maersk’s failed blockchain platform may have dampened enthusiasm for blockchain in logistics, GSBN’s platform shows that there is still potential for blockchain in the industry. As the platform gains more traction and more companies adopt blockchain technology, the logistics industry may see a shift towards more transparent and efficient supply chain management.


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Trezor Produces In-House Chips to Speed Up Hardware Wallet Production

Trezor, a popular hardware wallet manufacturer, has announced that it will produce its own chip wrapper, a key component of its Trezor Model T wallet, to optimize production and reduce lead times in the supply chain. By bringing chip manufacturing in-house, Trezor can be more agile and adaptable to market conditions, reducing its reliance on third-party suppliers and eliminating shipping delays caused by component supply and demand.

The move is a significant one for Trezor, as it allows the company to take greater control over the supply chain and respond quickly to factors like geopolitical disruption and labor shortages caused by the COVID-19 pandemic. Previously, the company was exposed to third-party supply vulnerabilities due to factors like these, which could result in delays in shipping finished products and cause consumers to be exposed to price fluctuations based on component supply and demand.

The move to in-house chip manufacturing also provides Trezor with more design freedom for future products, allowing the wallet provider to build the hardware wallet devices from scratch. Additionally, the move will enable Trezor to respond quickly to market conditions and meet the growing demand for its products.

The decision to produce its own chip wrapper comes a year after Tropic Square, a startup operated by Trezor’s parent firm Satoshi Labs, launched a new open-source chip called TROPIC01, which provides cryptographic key generation, encryption, signing, and authentication for users. Trezor is expected to become the first customer of Tropic Square for the product, which provides a unique business model that can be applied in exceptional cases.

According to Štěpán Uherik, Trezor’s Chief Financial Officer, the company has collaborated with its partner STMicroelectronics to identify areas where they can take control and make the manufacturing process as agile as possible. By unpacking the process, Trezor has managed to optimize the production of its wallets and meet the growing demand for its products.

Trezor’s decision to produce its own chip wrapper is a strategic move that has significant implications for the hardware wallet industry. It allows companies to have greater control over their supply chain, respond quickly to market conditions, and meet the growing demand for hardware wallets.

In conclusion, by producing its own chip wrapper, Trezor is accelerating hardware wallet production and ensuring that it can meet the demand for its products. The move provides greater control over the supply chain, reduces lead times, and eliminates shipping delays caused by component supply and demand. It also provides more design freedom for future products and allows Trezor to respond quickly to market conditions. Overall, it’s a strategic move that positions Trezor as a leader in the hardware wallet industry.


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Morpheus.Network Integrates with Polygon to Simplify Supply Chain Activities

Supply chain SaaS platform Morpheus.Network has announced its integration with Polygon, a decentralized Ethereum scaling network to simplify supply chain operations.

The partnership aims to use Polygon’s blockchain technology to integrate global supply chain companies in a bid to digitize, optimize and automate operations, bridging the gap between different operating systems, networks, and entities.

Polygon occupies a very pivotal position in the Ethereum and Web3.0 ecosystems. With the development of globalization, the global supply chain can be seen from the aspects of global trade, foreign outsourcing, cross-border mergers and acquisitions, and so on.

Dan Weinberg, CEO of Morpheus.Network said;

“Our integration between Morpheus.Network and Polygon is an exciting one, and we are excited to see what the future holds as the adoption of blockchain technologies rises. The flexibility and efficiency of our blockchain technology’s middleware platform make it a standout in its industry, and it is clear that Morpheus. Network is here to stay for many years to come.”

Morpheus.Network leverages technologies such as IoT and blockchain to help clients maximize revenue through digitization and process automation, protect sensitive data, and solve complex problems with legacy supply chain systems while providing effective, fair, and efficient global trade solutions.

Polygon provides scalable, secure, and instant Ethereum transactions designed to use Plasma side chains and a Proof-of-Stake network to solve the pain points of slow block confirmation and high gas fees. In the past years, the supply chain industry has benefitted from the transparency blockchain offers and with the Morpheus.Network and Polygon integration, it shows the adoption is becoming more mainstream than ever.

Image source: Shutterstock


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Blockchain in Supply Chain Market Anticipated to Top $14.88 Billion by 2028

The increasing adoption of product traceability for enhanced transparency in manufacturing processes and the urge for optimized security will make blockchain in the supply chain market surpass $14.88 billion by 2028, according to a report by Research Dive.

The study noted that the compound annual growth rate (CAGR) would be 57.4% during the forecast period between 2021 and 2028. 

The deployment of blockchain technology in e-commerce websites has spurred growth. It is expected to revamp the supply chain market in the coming years by rendering product traceability, quality control, and transparency in manufacturing processes. 

The pandemic has made e-commerce websites increase, and this has been made a reality by technologies like machine learning (ML) and artificial intelligence (AI). 

Per the report:

“By application, the product traceability sub-segment of the blockchain in supply chain market is anticipated to be the fastest-growing and reach $3.38 billion by 2028.”

The study noted that significant opportunities are availed by the need for automated, efficient, and transparent supply chains, and blockchain technology is expected to fill this void. 

The Asia-Pacific area is anticipated to be the fastest-growing region by amassing revenue worth $4.063 billion. The study acknowledged:

“Increasing technological advancements and growing adoption of blockchain technology by leading organizations of this region to make supply chains more robust have been the main factors behind the growth of blockchain in supply chain market in the Asia-Pacific region.”

According to the report, some of the prominent market players of the blockchain in the supply chain market include Oracle, Microsoft, Huawei, TIBCO Software, AWS, Huawei, and IBM.

Nevertheless, the research pointed out that the lack of awareness about blockchain technology might be a stumbling block in the speculated growth. 

Meanwhile, the global blockchain technology market is anticipated to reach $19.9 billion by 2026 from the current $3.4 billion value, according to market research publisher Global Industry Analysts Inc.

Image source: Shutterstock


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Morpheus.Network hits roadmap targets, attracting investors focused on fundamentals

The global supply chain has become an area of intense focus over the past couple of years and pressures from the pandemic and backlogged ports have led to a massive range of shortages for everyday items. 

One protocol that is focusing on optimizing supply chain management and building strength based on data from Cointelegraph Markets Pro is Morpheus.Network (MNW), a supply chain software-as-a-service middleware provider designed to integrate legacy systems with emerging technologies.

VORTECS™ scoreboard leaders. Source: Cointelegraph Markets Pro

According to data from Cointelegraph Markets Pro, market conditions for MNW have been favorable for some time.

The VORTECS™ Score, which is exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points. These include market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. MNW price. Source: Cointelegraph Markets Pro

As shown in the chart above, the VORTECS™ Score for MNW has been elevated in the green zone for the majority of the past week and registered a high of 91 on Jan. 15 as its price began to trend higher with a 26% spike to $1.75.

Here’s a look at three factors backing the building momentum for MNW.

Morepheus upgrades its smart contract 

One of the biggest factors affecting the price and momentum for MNW over the past few months have been the smart contract upgrades and token swap processes that were initiated on Oct. 19, 2021.

In the process of upgrading to new enterprise smart contracts for increased security and higher levels of efficiency, a token swap was conducted from the old MRPH token to the new MNW token on a 1:1 basis.

With the new smart contracts in place, programs stored on the blockchain are now able to execute automatically under certain terms or conditions that have been agreed upon by the parties involved, similar to real-world contracts.

These upgrades bring a new level of automation by enabling instantaneous outcomes while also reducing the need for third-party intermediaries.

Introduction of masternodes

Masternodes being integrated into the protocol’s structure was the second development responsible for the bullish outlook of the Morpheus.Network. This led to a more decentralized network while also giving members of the community a chance to contribute to the ecosystem in exchange for rewards.

The roll-out of masternodes is set to take place during the year-long token swap period that ends on Oct. 19, 2022. The Alpha and Beta testing programs will offer MNW token holders an 18% APR based on the number of tokens they have staked.

The smallest node available to operate requires 1,800 MNW to be locked up. The largest node operators require a commitment of 360,000 MNW in order to validate transactions.

The Morpheus.Network set aside 1.2 MNW in rewards for the alpha and beta testing programs. 12.5% of the funds will go to alpha nodes while the remaining 87.5% will be distributed to beta nodes over the course of 2022.

Related: Altcoin Roundup: Three blockchain protocols taking the supply chain crisis head-on

Investors turn bullish on new partnerships

A third factor that has led to the rising VORTECS™ Score and positive outlook for MNW has been a growing ecosystem of partnerships as well as the growing recognition from the wider supply chain community of what the protocol has accomplished.

In October 2021, Morpheus.Network was chosen to receive the 2021 ISCEA PTAK Award for Supply Chain Excellence at the SCTECH2021 conference. It was also named as a 2021 Enterprise Blockchain Awards finalist.

Regarding partnerships, Morpheus.Network has joined forces with the Geometric Energy Corporation and Space-X to contribute to the DOGE-1 mission to the moon. This will allow the protocol to explore new ways to optimize the space supply chain.

More recently, Morpheus.Network also partnered with VIDT Datalink to help bring more transparency and security to the world’s supply chains.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.