Crypto News 

Volvo Adopts Oracle’s Blockchain for Its Supply Chain — Here’s Why

“Volvo will be applying blockchain technology to provide global traceability in all raw products used throughout its supply chain” writes Rachel Wolfson for cointelegraph.com. Both Oracle and Circulor will operate the blockchain technology across CATL’s supply chain, while the Responsible Sourcing Blockchain Network, together with responsible sourcing specialists RCS Global and IBM, will roll out the technology in LG Chem’s supply chain.Volvo Cars announced last week that it is using Oracle’s blockchain platform to trace cobalt, one of the main components in electric car batteries.This end-to-end solution would ensure transparent…

Read More
Markets News Oil 

Oil is a ‘broken barometer’ and ‘lagging indicator’ of Middle East tensions, energy expert says

“In October, crude oil imports into China rose 11.5% from a year earlier to a record high, Reuters reported” writes Huileng Tan for cnbc.com. But China’s crude oil imports are resilient, she added.Oil is a “broken barometer” and a “lagging indicator of Middle East stress,” according to Helima Croft, managing director and global head of commodity strategy at RBC Capital Markets.”We have a market that is singularly focused on the demand side; the whole idea that Chinese demand is going to go off a cliff,” said Croft, a closely-watched oil…

Read More
Crypto Markets News 

Why Bitcoin’s Next ‘Halving’ May Not Pump the Price Like Last Time

“We could end up with the head-spinning cycle of narrative influencing price, and price influencing narrative” reports coindesk.com. This model predicts a bitcoin price of almost $60,000 after the next halving (the black line in the chart above).The buzz around bitcoin’s supply schedule will highlight its unique economics, which in turn should awaken even more investor interest.They also rarely thrive in isolation – and, let’s face it, there are a lot of things going on out there that can have as great an influence on bitcoin’s price. Source: coindesk.com

Read More
Markets News 

Michigan’s recreational marijuana market could open earlier than originally expected

“Exclusive Brands the first to apply What recreational marijuana means for you” writes Gus Burns for mlive.com. Read more from MLive about medical and recreational marijuana.LANSING, MI — As recreational licenses are being processed, Michigan’s prospective marijuana businesses are becoming eager, if not antsy, to begin growing, processing and selling legal weed to the general public.Any existing marijuana or related products are not recognized under the “adult-use” moniker; therefore, the market must start from scratch.As of now, based on the current rules and the length of the marijuana grow cycle…

Read More
Crypto News 

VeChain Unveils Food Tracing Solution Foodgates at China’s Import Expo

“Singapore-based blockchain application platform VeChain has unveiled a new blockchain tracking system for the food and beverage industry” writes William Suberg for cointelegraph.com. In a blog post on Nov. 7, the company confirmed it was working with food certification group DNV GL and supply chain specialist ASI Group on the project, known as Foodgates.The original announcement came at this year’s China International Import Expo (CIIE), being held from 5-10 Nov. in Shanghai. “The immutability of public blockchain coupled with verifiable information makes this solution really unique,” VeChain COO Kevin Feng…

Read More

We asked a 17-year Walmart transportation exec everything about the Fortune 1’s massive supply chain network — from increasing sustainability to its trucking fleet that’s more exclusive than Harvard. Here’s the full conversation.

“But you think about that in the broader supply chain that, did it ship from the vendor yet?” writes Rachel Premack for businessinsider.com. I’ve noticed in my own reporting that actually logistics, transportation, supply chain is becoming a really hot area for VCs, for startups.Premack: Another interesting point in Walmart’s supply chain is this push or this new interest in trains or intermodal.So we’re trying to find unique ways throughout the supply chain and also picking up at our store. Source: businessinsider.com

Read More
News 

Working off a tip from U.S. authorities, China sentences nine over fentanyl trafficking

“Liu and Jiang were accused of manufacturing and trafficking illicit drugs” writes Associated Press for marketwatch.com. Scrambling to contain surging overdose deaths, Washington has blamed Beijing for failing to curb the supply of synthetic drugs that U.S. officials say come mainly from China.Chinese officials said the Xingtai case was one of three fentanyl trafficking networks they are pursuing based on U.S. intelligence, but declined to discuss the details of the other cases, which are ongoing. Source: marketwatch.com

Read More
Crypto News 

Volvo to Use Blockchain-Traceable Cobalt in Its Electric Car Batteries

“Automaker Volvo announced on Nov. 6 that it will use cobalt tracked on a blockchain for its car batteries following the unveiling of its fully electric XC40 Recharge model last month” writes Adrian Zmudzinski for cointelegraph.com. Volvo Cars head of procurement Martina Buchhauser explained: The given system has been already tested by blockchain firm Circulor and software giant Oracle on CATL’s supply chain in August.The news comes as blockchain technology is being increasingly adopted in global supply chain traceability. Source: cointelegraph.com

Read More
News 

US service industries bounced back from a 3-year low in October, bucking recession fears

“The US services sector grew more in October than analysts anticipated, surging from a three-year low on healthy employment, business activity, and new orders” writes Ben Winck for businessinsider.com. Employment rose to 53.7 in October, echoing Friday’s jobs report that showed employers adding 128,000 payrolls last month despite continued trade tensions and a 40-day GM strike.The manufacturing industry fell into a recession earlier this year as trade war tariffs and global economic slowdown weighed on its performance. Source: businessinsider.com

Read More
News Oil 

Oil edges lower amid doubts over OPEC cuts

“Oil prices slipped on Tuesday amid doubts over whether OPEC and other countries will continue to restrain output, edging lower after two days of gains on U.S. economic data and hopes for a Washington-Beijing trade deal” reports cnbc.com. Improved U.S. jobs growth numbers in October and the upward revisions of the two previous months is helping support oil prices, analysts said.Markets have been eyeing a possible extension, or even a deepening, early next year of OPEC’s current production curbs, which have been supporting oil prices.The Organization of the Petroleum Exporting…

Read More