Blockchain
Chinsay’s Intelligent Contract Platform Enables Rio Tinto & Cargill to Complete the First Fully Digitalised Iron Ore Trade
Chinsay, the leading provider of contract digitalisation solutions in the commodity and freight markets, is announcing today the completion of the first fully digitalised iron ore trade, through a trial achieved in partnership with Rio Tinto and Cargill‘s Metals business on Chinsay’s Intelligent Contract Platform (ICP).
In using ICP, Rio Tinto and Cargill collaborated on a single platform to dramatically reduce the time it takes to create, issue and approve commodity contracts from several days to under two hours. The digitalisation of this fundamental trade process creates the opportunity to automate and deliver post-trade efficiencies by linking front-, middle- and back-office functions.
Colin Hayward, Chinsay CEO, said: “This is a technological milestone for the industry, and we are delighted Rio Tinto and Cargill Metals chose to partner with us and use our ICP as the core technology to create this advance. We are constantly collaborating with clients, market participants, tech vendors and industry consortia to extend digitalisation further along the commodity trade lifecycle.”
“The Intelligent Contract Platform is a great tool that has the potential to benefit the entire ferrous industry,” said Lee Kirk, Managing Director for Cargill’s Metals business. “This is a great example of how we can leverage advancements in technology to benefit from increased speed, transparency and efficiencies that enable us to serve our customers and suppliers better.”
ICP is state-of-the-art technology which allows companies to digitalise pre-trade processes early in the deal lifecycle, creating an agreed contract dataset that can be seamlessly integrated with other operational systems, functions and processes, enabling transparency and traceability across the supply chain. ICP prepares clients for the use of technologies such as blockchain, ML, AI and electronic trade documentation solutions.
SOURCE Chinsay
According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
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Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.
The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.
KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.
The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.
Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.
Source: cryptonewsz.com
The post Cronos collaborates with KYVE to revolutionize Blockchain Data appeared first on HIPTHER Alerts.
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