Blockchain technology remains one of the hottest trends among financial, government and commercial organisations worldwide. ForkLog magazine offers an overview of the most interesting recent initiatives.
The Cognac house Hennessy to join the Aura blockchain consortium
One of the most renowned French cognac houses, Hennessy will join the Aura blockchain consortium. The Aura consortium was founded Prada, Cartier and LVMH to combat luxury goods counterfeiting.
By integrating the blockchain platform, Hennessy aims to provide full transparency of the supply chain from the distillery to the consumer and to enhance the value of its existing distribution network.
The company has already used the Aura platform to verify the authenticity of the collectible edition Hennessy Paradis distributed in China. Each buyer received an authenticity certificate via WeChat Messenger
Samsung leverages blockchain technology in an environmental project
By the end of Q1 2022, Samsung Electronics America will plant two million trees in Madagascar. For the management of the initiative, the company collaborates with the blockchain platform veritree.
“veritree uses blockchain technology to provide Samsung with a fully integrated platform for field data collection, site setup, tree inventory, and impact monitoring. The system is designed to collect data from the day trees are planted and to provide greater transparency of the process,” the statement said.
Credit Suisse tests a blockchain promissory note in trade finance
The Swiss financial conglomerate Credit Suisse provided trade finance to the SFS and Mikron Group using the eNote electronic promissory note. The instrument was developed by the startup FQX.
According to the press release, eNote is a blockchain-hosted short-term debt instrument. Credit Suisse says it will simplify treasury operations for companies and improve their flexibility in financial management.
Coldwell Banker plans to tokenize luxury real estate assets
The American real estate company Coldwell Banker plans to tokenize luxury real estate assets in Thailand. To this end, it has partnered with blockchain startup Coinweb.
Subject to Coinweb obtaining a license from the Thailand Securities and Exchange Commission, the launch of the initiative was planned for Q3 2022. Coldwell Banker has already reached preliminary agreements with some of its major clients.
If the experiment proves successful, the company will roll out the solution in other jurisdictions.
Pakistan Customs uses IBM blockchain solution to digitize supply chains
Pakistan Customs joined the IBM TradeLens platform to migrate documentation on exported and imported container cargo to the blockchain.
“The collaboration with TradeLens will allow us to expand the ecosystem to provide stakeholders with access to a secure and transparent platform that enhances the efficiency of all processes,” said Shaukat Tarin, the finance adviser to the prime minister of the country.
Read ForkLog’s bitcoin news in our Telegram — cryptocurrency news, prices and analysis.