Chainvine’s platform uses Distributed Ledger Technology, blockchain and Internet of Things (IOT) to reduce friction in international trade, as reported by Lord Holmes:
• Simplifying the importation process
• Ensuring fiscal and regulatory compliance
• Reducing opportunities for fraud
• Delivering cost and efficiency benefits through the supply chain and at the UK border.
The project has representatives from:
• UK Government departments: HMRC & FSA
• Australian Export authorities – Wine Australia
• Importers/producers: Alliance Wine Limited and Casella Family Brands
• Wine and Spirit Association Trade Association
• Exeter, Surrey and the Australian National University
Seychelles and UK-based blockchain specialists Chainvine have entered into a strategic partnership to develop a platform to ease the process of doing business in the fisheries sector in the island nation. According to the Department of the Blue Economy, the agreement for the Seychelles National Assets Management System, which was signed in a virtual event in October 2020, will allow users to track fish from ‘sea to sell,’ as it collates data and issues unique certification for fishing catches and quota.
The Department of the Blue Economy said the technical support has ensured the successful development and promotion of the project in line with “our national strategy; for transiting Seychelles into a knowledge-based and an innovation driven economy.”
The project has been done in collaboration with local partners, principally the National Institute of Science Technology Innovation (NISTI).
Global law firm K&L Gates LLP utilise Chainvine’s “Intelligent Contracts” to allow the firm’s lawyers and IT staff to establish an internal, private and permissioned blockchain to assist in the exploration, creation, and implementation of smart contracts and other technology applications for future client use.
“We are hearing from our lawyers globally who are excited about getting hands-on experience working with blockchain applications,” commented K&L Gates Global Managing Partner James Segerdahl.
Judith Rinearson, a partner in K&L Gates’ New York and London offices and one of the co-chairs of the firm’s Fintech practice leading the project, said: “The first stage of our blockchain initiative will be a ‘sandbox’ that will allow our lawyers from around the world to get direct experience working with blockchain applications. We are next planning to develop use cases that our clients want and need, working both with Chainvine and clients to explore and build on the distributed ledger platform.”