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| May 22, 2018

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Judge strikes down Oakland’s ban on shipping coal through port

May 16, 2018 |

A federal judge struck down the city of Oakland’s ban prohibiting companies from transporting coal through a proposed export terminal that U.S. miners see as a key link to overseas markets.

The ban — enacted by the city in 2014 — violates a development agreement, U.S. District Judge Vince Chhabria…


L.A. Times – Business

Shipping Regulators Reach Deal to Cut Carbon Emissions

April 15, 2018 |

Historic pact aims to reduce greenhouse gas emissions by half by 2050; the U.S. and Saudi Arabia offer only objections to otherwise unanimous agreement.
WSJ.com: US Business

Trump renews attack on Amazon, calling its shipping deal with Postal Service a ‘scam’ that must end

March 31, 2018 |

President Trump lit into Amazon.com Inc. for the second time in three days with a pair of Twitter messages that said the U.S. Postal Service was losing money shipping packaging for the online retailer — “This Postal Scam must stop. Amazon must pay real costs (and taxes) now!” he said.

The president,…


L.A. Times – Business

Tim Cook Stumbles at His Specialty, Shipping Apple Products on Time

January 6, 2018 |

Under CEO Tim Cook, Apple has been late shipping new devices, delayed by factors including a large and growing global customer base, and more sophisticated technology.
WSJ.com: US Business

PR: ShipChain Using Blockchain to Change the Shipping & Logistics Market

December 27, 2017 |

ShipChain - Blockchain to Change the For Shipping & Logistics Market

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

January 1 will be the start of the Public Sale for ShipChain, the project that will use blockchain to change the shipping & logistics market.

ShipChain encompass all methods of freight, and will include an open API architecture that can integrate with existing freight management software.

Simply put, it’s a fully integrated system across the entire supply chain, from the moment a shipment leaves the factory, to the final delivery on the customer’s doorstep; trustless architecture, and transparent blockchain smart contracts.The movement of goods has a significant and growing influence on the daily lives of people around the world.

According to a market report published by Transparency Market Research, “The market’s global value was $ 8.1 trillion in 2015, and is expected to grow to $ 15.5 trillion by 2023 , making it one of the largest industries on the planet. The industry is currently 10% of the United States GDP.

Today, the supply chain has serious bottlenecks. The lack of a unified platform prevents the various players from interacting efficiently. Most of the participants in the supply chain use outdated ways to track their shipments. Given that upwards of 65% of the value of a company’s products or services is derived from its suppliers and its supply chain, utilizing older highly ineffective systems results in tremendous amounts of wasted time, resources, and money.

ShipChain was established to address the most significant problems facing the logistics industry today. The fully integrated system will track across the entire supply chain–from the moment it leaves the factory, field, or farm–to delivering the finished product to the customer’s doorstep; a trustless system, and transparent blockchain contracts.

The ShipChain system uses an Ethereum smart contract that can be used by anyone to orchestrate a shipping escrow on the distributed ledger. The overall shipment completion will be stored on the main Ethereum blockchain, and to keep costs low, individual tracking waypoints and load data can be stored and verified in an associated side-chain operating on the ShipChain Protocol, such as the one ShipChain Foundation.” Large partners will be able to operate their own ShipChain side-chains, with aid from ShipChain Foundation.

Public sale will be held in January 2018. 29.17 million SHIP tokens will be sold.It is planned to raise approximately $ 10 million in ETH. $ 0.342 per token is the ICO price.

Company website: https://shipchain.io/index.html
White Paper (EN/CN/RU/ES/KR/JP): https://shipchain.io/shipchain-whitepaper.pdf

Contact Email Address
presale@shipchain.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: ShipChain Using Blockchain to Change the Shipping & Logistics Market appeared first on Bitcoin News.

Bitcoin News

China, Flush With Cash, Sets Sights on Shipping

December 25, 2017 |

China poured $ 20 billion into ship financing this year, a reflection of the country’s ambition to become the world’s dominant maritime player as European banks have scaled back their investments.
WSJ.com: US Business

China, Flush With Cash, Sets Sights on Shipping

December 24, 2017 |

China poured $ 20 billion into ship financing this year, a reflection of the country’s ambition to become the world’s dominant maritime player as European banks have scaled back their investments.
WSJ.com: What’s News Asia

This Ukrainian Shipping Firm is Using Bitcoin to Evade Sanctions

December 2, 2017 |

This Ukrainian Shipping Firm is Using Bitcoin to Evade Sanctions

A Ukrainian shipping company has become the first to accept payment in bitcoin. Its motivation for taking the digital currency? To evade economic sanctions. Shipping companies are obliged not to trade with sanction-hit countries such as Sudan, Yemen, and Qatar. Bitcoin provides a means of ensuring payment whilst enabling shippers to continue trading with these nations.

Also read: How to Protect Your Bitcoin and Your Privacy When Passing Through Customs

Shipped on the Blockchain

Bitcoin’s real-world use cases are often regarded from a consumer perspective. Increasingly, however, the digital currency is proving its worth not with P2P but B2B. Odessa-based Varamar Ltd, a Ukrainian shipping operator, has turned to bitcoin as a global payment solution. Unbothered by borders, bitcoin can be sent and received anywhere, regardless of geopolitics.

Varamar’s founder Alexander Varvarenko told Bloomberg:

Paperwork for transactions is a complicated issue with banks, and bitcoin payments will help solve that by being faster. It could also help solve payment problems in countries like Pakistan, Russia, Sudan, Yemen, and Qatar, which have safe companies but are victims of sanctions being imposed against their governments.

Grey Areas and Murky Waters

High transaction fees and sporadic blockchain congestion are making bitcoin less suited for personal shopping. These issues are all but eliminated at enterprise level however, where bitcoin is a safer and faster alternative to traditional banking. One of the greatest risks shipping companies face is banks refusing to process payments from countries that have been blacklisted or from rogue states where the regulatory and financial environment is unclear.

This Ukrainian Shipping Firm is Using Bitcoin to Evade Sanctions
Yemen: calm waters, but trouble lies beneath the surface.

If the Ukrainian company’s trial of bitcoin proves successful, it is likely that other firms will follow their example. Russian broker Interchart LLC are reportedly also looking at bitcoin as a means of circumventing banking restrictions. Ivan Vikoulov, managing partner at Quorum Capital who have been helping Interchart investigate bitcoin, said:

The industry has been under stress as majority of vessels are registered offshore and many vessel owners have banks in the Baltics, where there is a squeeze to send and receive payments in dollars.

Shipping companies often have little choice who they work with due to the global nature of the industry. Given the political pressure companies face not to conduct business with sanctioned states, it is likely that some firms will keep their bitcoin involvement discreet.

Fly With Bitcoin, Live With Bitcoin

This Ukrainian Shipping Firm is Using Bitcoin to Evade SanctionsIn the consumer sector, meanwhile, bitcoin can now be used to pay rent and charter flights. U.S. firm Rentalutions allows tenants to pay their rent in bitcoin, with the landlord receiving their dues in fiat currency through Coinbase.

Bitcoin whales whose cryptocurrency is burning a hole in their hot wallet may also be interested in Surf Air. “The future of travel meets the future of money” proclaims the charter flight company, which now accepts bitcoin and ethereum. For around 6.5 BTC a year, customers can enjoy unlimited global flights, or unlimited U.S. flights for approximately half that figure. From the high seas to the high skies, bitcoin is certainly proving its uses.

Do you think companies should be using bitcoin to evade sanctions? Let us know in the comments section below.


Images courtesy of Shutterstock, and Surf Air.


Need to calculate your bitcoin holdings? Check our tools section.

The post This Ukrainian Shipping Firm is Using Bitcoin to Evade Sanctions appeared first on Bitcoin News.

Bitcoin News

Early Orders for iPhone X Lead to Long Shipping Delays

October 27, 2017 |

Apple opened advanced sales for the iPhone X and early orders pushed estimated shipment dates into December, at least twice the waits for new models a year ago.
WSJ.com: US Business