MTI ('Marine Transport International (UK) Limited') today announces the deployment of the world's first public blockchain solution in the global shipping industry. MTI is an industry-leading freight forwarder based in the United Kingdom and the United States. It provides sophisticated, technology-based freight forwarding solutions for global shipping companies worldwide. Public blockchain technology will connect the supply chain together, in a way which the industry has never seen before. Furthermore, trust and partnership is reinforced with the blockchain, in an industry where such principles can at times be misunderstood. It will allow companies to build efficient business ecosystems between supply chain parties or actors in the public blockchain. The blockchain will also accelerate the flow of data distributed between parties, whilst at the same time reducing reliance on the typical IT architecture that plaque companies today. With millions of transactions processed each day in the shipping industry, the public blockchain will not only increase data efficiency, but also provide long term savings for EDI transmission (Electronic Data Interchange) dependent companies. MTI is using the TrustMe™ public blockchain technology and the services from predictive analytics expert Black Swan Data Limited. The technology will be used within its SolasVGM™ product offering to enable the secure and open dissemination of shipping container information. Since 1st July 2016, Contracting Governments to the International Maritime Organization's SOLAS treaty (International Convention for the Safety of Life at Sea) have been required to implement new requirements related to the Verified Gross Mass (VGM) of packed containers. The new regulation puts the responsibility on the shipper to ensure that an accurate VGM is provided to the terminal/carrier for every container loaded prior to it being allowed to be shipped on-board on a vessel. Using the TrustMe™ solution, VGM data is stored on the global blockchain, providing a permanent records visible to port officials, shippers and cargo owners. This replaces cumbersome logs, spreadsheets, data intermediaries and private databases. Previously, data has been deeply ingrained in old legacy systems. This causes delays in the development of new capabilities, hindering the ability for carriers to make rapid changes to services. The blockchain is a data structure makes it possible to overcome these issues, creating a permanent digital public ledger of transactions which can be shared among a distributed network of computers. It uses cryptography to allow each participant on the network to add to a record on the ledger in a secure way without the need for a central authority. Designated parties can record and retrieve data from anywhere in the world using mobile phones, tablets and PCs, eliminating the need for costly, proprietary infrastructure. Blockchain data is verified, immutable, and globally accessible, making it a perfect technology for solutions like the SolasVGM™ product. Quote (Jody Cleworth – CEO of MTI): "Blockchain has the ability to empower our industry into a true digital age. Instead of a VGM message being delivered sequentially to parties within the supply chain, our platform can provide a decentralized approach to delivering VGM messages. The sheer volume of containers processed per year means that safely decentralizing the management of these containers will radically reduce the complexities of shipping. A grass roots approach in collecting and storing information on the blockchain is how shippers will be able to reap the full benefits of the technology. We are now a public blockchain company and our focus is on delivering tangible benefits to global trade and all the actors within the supply chain." Quote (Antony Abell – MD of TrustMe™): "Sectors such as banking and FinTech are attracting a lot of attention for their steps to adopt blockchain. But what we have here is an example for the shipping industry leading the way in executing a real, proven application of blockchain. We're incredibly excited to be at the forefront of this development." Quote (Richard Mann - COO of Black Swan): "MTI continues to innovate and disrupt Maritime industry. We have been working closely with the MTI team for over 8 years and are delighted to see the direction they are taking at a time when regulatory change is creating significant opportunity for new business models in the industry. In the face the regulatory change, MTI did not see an obstacle, but an opportunity to think outside of the box, future-proof itself and ultimately stand out from its competitors. The convergence of SolasVGM™ and the TrustMe™ blockchain technology further reinforces this. We are excited with MTI's approach to this and are eager to see what comes next. -- --- BACKGROUND About MTI - ('Marine Transport International (UK) Limited') See: www.marinetransportint.com/ http://solasvgm.com/ Marine Transport International (UK) Limited ('MTI') is a freight forwarder focused upon digitalization and streamlining shippers' processes, reducing cost and increasing operational efficiencies within the shipping supply chains. On July1, 2016, MTI delivered a technological solution for a regulatory change - SOLAS VGM (see: http://solasvgm.com/ ). SOLASVGM™ invites users to create ECOSYSTEMs within the industry to solve their VGM requirements. Since implementation, SOLASVGM™ has over 164 registered companies and over 5,000 transactions. Before the end of 2016 the company plans to deliver COMSHIP an end to end business platform for shippers in container business. The software expands the ECOSYSTEM pulling in all suppliers to the industry to act transparently and seamlessly in executing shippers' requirements. MTI Principals: Jody Cleworth CEO / Director. Jody has been working in Shipping & Logistics for the past 16 years. Jody has been involved in both the Liner side of Container Shipping and Freight Forwarding aspect of the industry. During his career Jody has worked for Maersk Line at corporate level in Copenhagen, Kuehne & Nagel at regional level in the U.K and headed up start -up businesses in the United States for Eagle Trans Shipping and Logistics. Jody will be working closely with shippers, carriers and 3rd party companies to deliver solid digital platforms to the market. Jonathan Langley CTO. Jono has been working in the Software and Tech industry over the last 16 years. Initially starting off in the Tech Support and Networking realm, Jono then moved into the software engineering arena to take the practical side of technological solutions and apply that to software based solutions in various different industry environments. Jono has been architecting and delivering software platforms for clients such as Vodafone (UK), Skype (Global), Three Mobile (UK), Panasonic Avionics (GLOBAL) and many more over this time. Many of these platforms have customer usages of 1M+ unique daily users. Jono now brings his wealth of Systems engineering and Software architecture skills to MTI which he will use to push the company into the automation world of global cloud computing. About TrustMe™ - ('Universal TrustMe Engine Limited') See: www.u-TrustMe.com The Universal TrustMe Engine Limited ('TrustMe™') is a London (UK) based blockchain solutions company providing public blockchain applications for industries, businesses and consumers to allow them to securely post, process, share and read blockchain information using proprietary software and algorithms. What is the Blockchain? A blockchain is a data structure that makes it possible to create a permanent digital public ledger of transactions and to share it among a distributed network of computers. It uses cryptography to allow each participant on the network to add to a record on the ledger in a secure way without the need for a central authority. Once a block of data is recorded on the blockchain ledger, it's extremely difficult to ever change it or to remove it. When someone wants to add to a record, participants in the network run algorithms to evaluate and verify the proposed transaction. If a majority of nodes agree that the transaction looks valid (that is, identifying information, timing, location etc… matches the blockchain's history) then the new transaction will be approved and a new block added to the chain. For those with access it provides a permanent and secure record of ownership of all registered items for all parties who use it and it can provide automated systems to remove significant cost overheads in physical and transactional distribution systems. TrustMe™ Principals: Antony Abell (Managing Director / Co-Founder of TrustMe™) is a serial entrepreneur and corporate financier based in London. Having studied economics at university he went on to become an army officer and an Olympic coach ('92 Winter Games) before working in logistics and telecommunications. He is now focused on delivering TrustMe™ into the global market. Antony also works behind the scenes with entrepreneurs delivering other cutting edge technologies and innovations to the global marketplace via his corporate finance firm of Variable Pitch. David Parsons (CTO / Co-Founder of TrustMe™) David is an industry veteran bringing over 20 years of experience in cryptography, big data analytics and telecommunications software development. His work spans infrastructure software design and development for major equipment manufacturers and terrestrial/satellite networks such as IBM, Lockheed Martin, AT&T. David's expertise in the area of peer to peer communications in conjunction with deep skills in secure networks has enabled him to create an innovative platform for anonymous peer to peer trust. He holds a Bachelor degree in Electrical Engineering and a Master of Business Administration. About Black Swan ('Black Swan Data Limited') See: www.blackswan.com Black Swan Data Ltd One of the UKs fastest growing data science, technology and predictive analytics companies in the UK, founded in 2011. Forging one of the most interesting new propositions to enter the UK and international marketing services space. Black Swan's unique vision was to build a platform which ingests data from every conceivable source using data science and intelligent algorithms to find patterns of value to brand partners. The business has grown massively from 2 to 250 in just over 4 years with people in LA, Toronto, NYC, Cape Town, London, Exeter Bristol, Budapest and Szeged, Black Swan has established major client relationships with Pepsico, GSK, Disney, Vodafone, Debenhams, Npower, Tesco and Panasonic. Outline of business and differentiation Black Swan thinks and acts differently to bring to bear a unique set of data and technology forces to disrupt and burn down the traditional marketing channels and help their brand partners become category leaders. The Black Swan Nest Data platform surfaces the black swan moments – finding correlations in data which line up over time to identify future events, creating efficiencies and clarity between the left and right hands of marketing and supply chain and manufacturing demand. Whether that's mapping the tide of cold and flu to trigger programmatic social hazard warning marketing; tracking sea containers in real time; measuring the impact of creativity using a data driven real time visualisation software or forecasting key customer events, listening to the daily pulse of the nation…the Black Swan model factory creates data prototypes covering everything from customer sentiment to econometric modelling. Performance and growth 2012 Founded 2014 0.3m Turnover, 10 Staff, London LA, NYC , Blackstone Series A Investment – Sunday Times Ones to Watch 2015 Acquisition of Digital Jigsaw and Bee Mee, 8.4m Turnover , 220 Staff, Toronto and Budapest – Sunday Times No 1 Start up 2016 Albion and Mitsui Series B Funding 250 staff 10m Turnover (F) – Sunday Times No 1 SME Exporter Employees 250 Turnover 10m Black Swan Principals: Steve King (CEO): Richard Mann (COO of Black Swan): |
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