Reading: When IoT Meets Blockchain: an Exciting Potential to Revolutionize Logistics

Press releases

When IoT Meets Blockchain: an Exciting Potential to Revolutionize Logistics

Bitcoinist

Bitcoinist | Feb 20, 2018 | 02:30

UCOT Press releases

When IoT Meets Blockchain: an Exciting Potential to Revolutionize Logistics

Bitcoinist

Bitcoinist | Feb 20, 2018 | 02:30


UCOT has been forging partnerships and gaining accolades as they develop their technology that can provide efficiency to supply chain management and Internet of Things (IoT) systems.


UCOT

This is an exciting time for technology. Many newcomers to the blockchain industry are discovering what the technology is and how it can be incorporated into their businesses, their governments, and their lives (IoT). It’s exciting to see just how far this technology can reach! With many projects showing great potential – such as Ripple with its implementation within banks and other financial services firms, and Cardano with its advances in scalability and cross-chain integration – UCOT is pleased to be classed alongside these innovative projects. Recently, UCOT has been experiencing a series of historical moments as it continues to strengthen its network and technology.

UCOT

On February 7th, 2018, the UCOT team attended the 2018 “Cultural Heart” dinner – a Chinese New Year’s Congress dinner, hosted by the Australian Chinese Research Centre. During the dinner, which took place in Canberra, the capital of Australia, John Baird, the CEO of UCOT, spoke with attending Australian politicians about how his technology can provide efficiency to supply chain management and Internet of Things (IoT) systems. After which, these MPs expressed their keen interest in trialing this suite of technology. Near the end of the dinner, commemorative gifts were presented to entrepreneurs from China and Australia to help promote relationships between the two nations in both business and politics. Ben Chen, the founder of UCOT, had the honor of receiving an ‘outstanding entrepreneur’ award. Chen then delivered a speech expressing his appreciation and outlining the future of UCOT.

CEO John Baird was invited to an interview with China Central Television (CCTV) and comprehensively introduced the UDT company’s research and development at Parliament House.

UCOT CEO John Baird

Part of this future includes creating more strategic partnerships, which will allow UCOT the ability to integrate its technology into suitable businesses. Along with this outline, came the announcement of a new partnership between UCOT and the Shanghai Boyol New Brothers Logistics Company, one of China’s top 10 competitive logistics companies. The two companies have signed a Memorandum of Understanding (MoU), stating that UCOT will provide product eco-and-traceability-systems for the company. Through the implementation of their smart IoT and traceability systems, UCOT will be able to eliminate complex labor costs associated with Boyol’s shipping orders and ensure timely product feedback information, which managers can use to ensure the quality of product transportation and theft reduction.

It was also announced recently that UCOT has hired Dr. Joseph Liu, the head of Monash Universities Cryptocurrency Research Laboratory, who will join the project as a security consultant. Dr. Liu is best known for his 2004 thesis which indirectly led to the creation of Monero, a privacy-based cryptocurrency. As part of his position, Dr. Liu and his Monash-based team will help strengthen the internal and external privacy and general security functions of UCOT. Through this, UCOT will be able to provide a truly encrypted and private user experience for its partners.

UCOT Dr. Joseph Liu

Overall, it’s been a fantastic start to UCOT’s launch. With the project set to become the first supply chain management and intelligent IoT blockchain system, it looks like the company is set for a bright future.

UCOT

UCOT also attended the Melbourne Business Forum on February 14th, during which the UCOT team had the ability to meet and talk with former Prime Minister Kevin Rudd.

UCOT will make a further appearance in the International Import Expo in Shanghai in November at the invitation from Lu Bo, First Secretary of Embassy of the People’s Republic of China in Australia.

UCOT sincerely hopes that more partners will join the UCOT family and work together to help develop UCOT’s ecosystem of technology around the traceability of products.


Images courtesy of UCOT.


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