NEM Blockchain on International Trade Business

In shipping a cargo there are many people involve to send your shipment from point A to point B. And when I say many, it means a lot. From supplier, common carriers, insurance companies, banks, governments, and do not negate the power of force majeure. 

The more parties getting their hand on your documents, the more it is prone to unforseen mishaps. 

Although World Customs Organization is pushing to be paperless, it is inevitable to use papers. And until now, shipping business is still not fully implementing it. Why? This is to provide authenticity on the original documents. And going digital can’t solve it until now. 

Blockchain technology is one of the answer to this. Actually not only on that tons of authenticity problem but also on payments and automation. 

For me that can’t write a single code, I will imply my idea to NEM Technology. Why NEM? Because it has built-in features in its wallet. Built-in!

Here’s the problem we will be solving. 

1. Authenticity of your Documents 

2. Tracking of your shipment

3. Payments

Steps how to solve that: 

1. Download your NEM Wallet here! And announce on your website that all NEM authenticated documents will only be from that NEM account/address. 

2. Apostille(notarize) documents that you will release for the shipment (Bill of Lading, Commercial Invoices, Packing List, Insurance Certificate, or even Certificate of Origin)

3. Create your own coin to serve as a payment on that transaction. This can replace your Letter of Credit. 

4. Create a multisignature account for every key people involved and every step you want to track. 

-for example: the haulier picked-up the cargo from the supplier’s warehouse. The supplier will sign on the multisignature account and it will signal the movement of the cargo. 

NEM Blockchain on International Trade Business 

NEM Blockchain on International Trade Business
Security of Multisignature

When the last signatory signed on the account and it showed as the job was done, all payments will automatically be released to the different accounts to be paid off. 

If you want to expound more about this, please do message the NEM Foundation at NEM Helpdesk! 

NEM Blockchain is a good technology! Take advantage of it. Be Wise! Use NEM! Buy XEM! 

And Happy 4th Birthday NEM :)

Integrity in the Midst of Instability

Blockchain/bitcoin was built entirely because of Satoshi Nakamoto's frustration in our banking system and the society that evolves on it. Now that his advocacy is a wild craze, people from all walks of life are jumping in to join the party. Yes all! Even the bad guys!

Last week, Coincheck was compromised and hit the record-high hack for the blockchain industry. Cryptonauts expected that there will be chaos and another massive suicide watch list but Coincheck surprised them all with their decision. Koichiro Wada announced early this week that they will pay off the platform users who were affected by that incident. That is the first time in the entire history of blockchain that someone stood up to return their missing coins. That's integrity! Thanks Coincheck.

Then we go to questioning NEM's decision.

Aren't you tired to obey rules and laws? Tired of banks asking you question why are you withdrawing your chunk of savings or just a mere scenario of teller asking what is your source of income when depositing a huge amount. Well, this is for them to comply in many regulations they need to follow as bank. The banks do not want to be tagged as non-compliant or accepting funds from illicit businesses.

Imagine, a good neighbourhood was attacked by an intruder, forced to take one of your valuables and settled in one of the nearby houses. What are you going to do? Nothing? Really?

No! It is either all the villagers will march to the occupied house and take their valuables again, or just remember that address and intruder's face and never help or do business with him.

NEM NEIGHBORHOOD

I saw that NEM proves that blockchain can build a transparent, safe, secure and a compliant ecosystem. That move from NEM (flagged the address and taint those hacked XEMs) is not only to comply on laws and clamors of its members and stakeholders but it is a moral obligation for its community.

Now, because of tainted XEMs no one wants to get involved with the hacker’s address. Why? It will affect the POI (Proof of Importance) of Nano wallet addresses who will do transactions with it.
Transparency solves the problems in preventing the dirty money (AML/CTF) to get involved in this new technology. Good job NEM! 

Coincheck thanks for the integrity in this business. Thank you both for making this blockchain world a better place

Love my write-up? Here is my NEM Wallet Address: 

NCFKW3CE4ZOMS4RNLFINM6SBGVRPMVBRO5PKHRG2