• Latest
Canada Forges $130,000 Development Deal for Steel-Tracking Blockchain

Canada Forges $130,000 Development Deal for Steel-Tracking Blockchain

January 21, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Tech

Canada Forges $130,000 Development Deal for Steel-Tracking Blockchain

coinnewsdaily by coinnewsdaily
January 21, 2020
in Tech
0
Canada Forges $130,000 Development Deal for Steel-Tracking Blockchain
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

The Canadian government has awarded enterprise blockchain startup Mavennet a procurement contract for the development of an on-chain steel-tracking platform.

Innovation, Science and Economic Development Canada (ISED), a government agency with the mandate to foster technology innovation, published a procurement award on Nov. 12 that will fund the R&D project for six months with 169,427 CAD(about US$130,000).

The goal, as set out by ISED, is for Mavennet to build a blockchain proof-of-concept prototype that can track and share real-time data across the supply chain in the Canadian steel industry that regularly produces well over 10 million metric tons a year.

Mavennet’s CEO Patrick Mandic said in an interview that with a blockchain to trace live data points and AI to make those patterns meaningful, the system could have ripples across the multi-billion-dollar industry.

“Ultimately, you’re collecting a lot of data with new levels of granularity,” he said. “If you’re able to collect information in real time and in a way that you can trust, you’re opening up a world of possibilities for analysis and providing insights to the government,” Mandic said.

If phase 1 proves successful, Mavennet may unlock additional two-year government funding of up to $800,000 to continue building a deployment-grade system. It’s already pursing similar government contracts around the world, including an oil-tracking platform for the U.S. Department of Homeland Security.

“The adoption of new digital technology into Canadian industry will help ensure our firms strengthen their competitive advantage,” said Hans Parmar, a media relations manager for ISED.

Canada’s steel industry is a major international exporter, especially to the U.S. But that heavy reliance was rocked by President Trump’s 2018 steel tariffs and the ensuing market uncertainty. Last year, exports were down 22 percent.

Mandic said the tariffs provide a context for Canada’s search for a blockchain-based steel supply chain solution. Asserting that Trump’s decision was motivated in part by fears of tariff dodgers, who route their exports through untaxed markets, Mandic said blockchain’s immutability can verify claims of product origin.

“What the blockchain provides is the ability to have a specific set of records in specific points of time,” he said. “You cannot go back in time and change the path.”

ISED’s Parmar refuted the idea that the project was launched in response to the section 232 steel tariffs. But in a statement to CoinDesk he also explained the platform could have blockchain-specific benefits.

“The technology solution may facilitate trade and domestic policy adjustments, including aligning country of origin marking regimes, certification and labelling if implemented,” he said.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Credit: Source link

Share76Tweet48
Previous Post

Ripple Looks To Explore Asia-Pacific Remittance Market

Next Post

Do Custodians Wield Undue Influence on Crypto Market Prices?

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
green gaming
Business

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
axie infinity: what are the minimum android phone requirements to play on mobile
Alt Coin

Axie Infinity: What Are the Minimum Android Phone Requirements to Play on Mobile

April 21, 2022
Load More
Next Post
Do Custodians Wield Undue Influence on Crypto Market Prices?

Do Custodians Wield Undue Influence on Crypto Market Prices?

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$21,068.000.86%
  • ethereumEthereum(ETH)$1,192.330.02%
  • tetherTether(USDT)$1.000.06%
  • binancecoinBNB(BNB)$232.74-0.82%
  • rippleXRP(XRP)$0.358099-0.35%
  • cardanoCardano(ADA)$0.484955-1.11%
  • SolanaSolana(SOL)$40.130.97%
  • polkadotPolkadot(DOT)$7.90-2.10%
  • dogecoinDogecoin(DOGE)$0.0661230.61%
  • Shiba InuShiba Inu(SHIB)$0.0000115.68%
  • daiDai(DAI)$1.000.15%
  • tronTRON(TRX)$0.064102-2.15%
  • leo-tokenLEO Token(LEO)$5.921.37%
  • matic-networkPolygon(MATIC)$0.57-1.30%
  • litecoinLitecoin(LTC)$56.913.30%
  • FTXFTX(FTT)$27.274.05%
  • OKBOKB(OKB)$12.994.79%
  • chainlinkChainlink(LINK)$6.89-1.95%
  • CronosCronos(CRO)$0.1240230.70%
  • stellarStellar(XLM)$0.124192-1.07%
  • cosmosCosmos Hub(ATOM)$8.131.27%
  • algorandAlgorand(ALGO)$0.339574-2.86%
  • moneroMonero(XMR)$122.33-1.94%
  • bitcoin-cashBitcoin Cash(BCH)$113.57-1.79%
  • ethereum-classicEthereum Classic(ETC)$16.04-1.32%
  • vechainVeChain(VET)$0.0248380.76%
  • Internet ComputerInternet Computer(ICP)$6.04-0.21%
  • theta-tokenTheta Network(THETA)$1.401.08%
  • ElrondElrond(EGLD)$60.78-1.72%
  • filecoinFilecoin(FIL)$5.93-0.59%
  • tezosTezos(XTZ)$1.48-0.14%
  • bitcoin-cash-svBitcoin SV(BSV)$63.13-0.38%
  • eosEOS(EOS)$0.98-0.97%
  • AaveAave(AAVE)$67.812.40%
  • makerMaker(MKR)$1,010.20-1.31%
  • paxos-standardPax Dollar(USDP)$1.000.02%
  • huobi-tokenHuobi(HT)$5.44-0.79%
  • zcashZcash(ZEC)$65.46-2.19%
  • iotaIOTA(MIOTA)$0.294720-2.02%
  • zilliqaZilliqa(ZIL)$0.0485197.91%
  • neoNEO(NEO)$9.40-0.94%
  • havvenSynthetix Network(SNX)$2.84-6.36%
  • wavesWaves(WAVES)$6.26-0.62%
  • basic-attention-tokenBasic Attention(BAT)$0.410223-4.62%
  • dashDash(DASH)$50.18-0.56%
  • PancakeSwapPancakeSwap(CAKE)$3.25-1.12%
  • KusamaKusama(KSM)$54.93-1.76%
  • nemNEM(XEM)$0.041625-0.39%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • CompoundCompound(COMP)$48.6612.68%
  • ethlendAave [OLD](LEND)$4.103.48%
  • qtumQtum(QTUM)$3.01-2.01%
  • bitcoin-goldBitcoin Gold(BTG)$17.29-0.68%
  • omisegoOMG Network(OMG)$1.96-0.31%
  • golemGolem(GLM)$0.245798-0.28%
  • SushiSushi(SUSHI)$1.22-3.29%
  • yearn-financeyearn.finance(YFI)$6,633.51-6.64%
  • ontologyOntology(ONT)$0.238905-1.73%
  • umaUMA(UMA)$2.727.30%
  • digibyteDigiByte(DGB)$0.010680-0.77%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....