#CryptoCorner: Carrefour and Nestlé Use IBM Blockchain to Provide Transparency Across Milk Supply Chain, JPMorgan and Baton Develop Derivatives Margin Solution
#CryptoCorner:
Carrefour and Nestlé Use IBM Blockchain to Provide Transparency Across Milk
Supply Chain, JPMorgan and Baton Develop Derivatives Margin Solution
Stocks discussed:
(OTC: $CRRFY) (OTC: $NSRGY) (NYSE: $IBM) (NYSE: $JPM)
Point Roberts, WA, Delta BC November 15,
2019 - Investorideas.com, a leader in
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An announcement today reveals that
French multinational Carrefour (OTC:CRRFY) and Nestlé (OTC:NSRGY) are leveraging
the IBM (NYSE:IBM) Food Trust
blockchain platform to provide transparency across the supply chain for GUIGOZ®
Bio 2 and 3 infant milk range. An excerpt from the press release reads:
This three-way partnership builds on Carrefour’s Act
For Food programme. Blockchain technology enhances transparency and advances
the food transition for extremely high-quality products, which parents expect
for infant nutrition. For Nestlé and Laboratoires Guigoz, this innovative
blockchain technology creates a new benchmark for transparency and the high
standards of care required to ensure the quality of their products. In line
with this position, Laboratoires Guigoz is proud to once again strengthen its
close ties with consumers.
A report from Cointelegraph indicates that the
government of India will not, as it had previously intended, consider a
cryptocurrency-related draft bill during the winter session of Parliament. The
draft bill entailed a complete ban on the use of crypto in India, along with a
digital Rupee issued by the country’s central bank, the Reserve Bank of India.
Parliament’s winter session runs from November 18 to December 13.
Investment banking
giant JPMorgan (NYSE:JPM) and Baton
Systems,, a provider of distributed ledger-based post-trade solutions for
capital markets, have developed a solution to automate derivatives margin
payments, according to a press
release
yesterday. According to the press release, the solution’s “resulting end-to-end
automation of the margining and collateral workflows provides full visibility
of the asset flows between J.P. Morgan and clearing houses, with complete audit
trails and real-time notifications”, reducing “the need to pre-fund margin
payments under the current market infrastructure related to margin
settlements”. Anthony Fraser, Head of Global Clearing Operations and Trading
Cost Management at J.P. Morgan, commented:
"The technology we have developed reduces the time
needed to process the entire collateral workflow from hours to near real-time.
We're already seeing faster, more efficient payments, reconciliation and
reporting for all parties in the collateral lifecycle."
CoinDesk reports that BRICS
(Brazil, Russia, India, China and South Africa) association of emerging
economies have discussed the development of a shared digital currency to
streamline trade and reduce reliance on the U.S. Dollar. The idea was brought
up at a BRICS business council at a meeting in Brazil. Nikita Kulikov, member
of the State Duma’s expert council in Russia, commented:
“Most likely, it will be like certain obligations that
can be transferred from one legal entity to another to confirm that the
recipient will have claim rights, and the contractor will have obligations for
a specific amount. It will not be money, we can say that it will be a paperless
document flow to facilitate transactions.”
Sam
Mowers, Investorideas
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