Carriers to Get First Blockchain System in Mid2018

first_imgzoom A start-up company established in July 2017, 300cubits, plans to be the first to launch an actual blockchain application for the container shipping market, according to Alphaliner.The company aims to roll out a booking deposit system on June 15, 2018, which would use blockchain technology and a dedicated crypto currency to address the problem of cargo “no-shows” and “rollovers”.300cubits claims these are the key challenges in the container shipping industry as 25%-30% of the carriers’ bookings never show up and rolling always happens in the most inconvenient time, Alphaliner writes.The company plans to distribute its own crypto-currency, named “TEU tokens”, to industry participants as the first step in getting stakeholders to adopt the new system. The company started given out TEU tokens to the industry participants at no cost on February 1, 2018.“The container shipping industry has been slow in adopting new technology and widespread scepticism remains about the viability of such initiatives,” Alphaliner informed.Initiated by a Hong Kong-based company, 300cubits would provide the TEU token for the industry to use as booking deposit through Booking Deposit Module, a cloud-based system built on blockchain.last_img read more

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Sweetwater Union District employee pleads not guilty to embezzlement

first_img KUSI Newsroom, KUSI Newsroom Sweetwater Union District employee pleads not guilty to embezzlement Categories: Local San Diego News FacebookTwitter CHULA VISTA (CNS) – A former employee of the Sweetwater Union High School District who’s accused of embezzling more than $50,000 in money orders from the district pleaded not guilty today to embezzlement and grand theft charges.Danya Margarita Williams, 42 of Chula Vista, is accused of appropriating more than $50,000 in money orders between June 2016 and November 2017, Chula Vista police Capt. Phil Collum said. District officials discovered the alleged embezzlement in late 2017 and reported it to Chula Vista police, Collum said.As part of her job, Williams was responsible for processing money orders received for fingerprint background investigations at the district, which are required during employment screening, according to police. Each background investigation costs between $52 to $75 per applicant and the applicants pay the fee using money orders, Collum said.“Instead of processing the money in accordance with district requirements, Williams deposited the money into her personal bank account,” Collum alleged. The exact amount of money that Williams allegedly embezzled was not revealed.Williams, who faces four years in prison if convicted of all charges, was arrested last week but is out of custody on $50,000 bail. She’s due back in a Chula Vista courtroom April 16 for a readiness conference. March 12, 2019 Posted: March 12, 2019last_img read more

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