Blockchain News: Coronavirus Pandemic ... | 17march 2020

Blockchain News: Coronavirus Pandemic ... | 17march 2020

Coronavirus Pandemic Delays the Largest Blockchain Conference in Japan

As the Corona outbreak is rummaging through the world and postponing different social activities, another conference related to the world of Blockchain has been delayed.

This time it was the largest Blockchain conference in Japan, called TEAMZ. This Blockchain conference was supposed to take place from April 22 to 23, however, due to the risk of this global pandemic, the organizers of the event have decided to move this conference to September.

More than two thousand people come to the TEAMZ conference each year, including industry pioneers, Blockchain developers, and basically anyone who has an interest in the world of Blockchain.

The organizers of TEAMZ have reassured that the setup of this summit will not change. Even though it has been moved to September, it is still going to be held in the same venue with the same schedule.

TEAMZ is not the only Blockchain summit that has been delayed due to the Coronavirus outbreak. Prior to the TEAMZ summit being postponed, the Paris Blockchain Week Summit, Bitcoin 2020, and TOKEN2049, all major summits related to Blockchain and cryptocurrencies, had been postponed to later this year.

 

As the Corona outbreak is rummaging through the world and postponing different social activities, another conference related to the world of Blockchain has been delayed

 

Blockchain Will Help Air Cargo Industry to Save $400 Million Per Year

The Blockchain technology allows for many optimizations in the traditional management and business models, since the old systems rely heavily on paper documents, and therefore are riddled with mistakes, scams, and a lot of time and energy wastage. But the Blockchain technology resolves this issue by facilitating the keeping of information in a tamper-proof way. It has already entered many industries, and it seems that the next one is the air cargo industry.

In an announcement on March 12, Sita, an air transport tech company and ULD Care, a trade association, stated that they are trying to implement the Blockchain technology in order to save up to $400 million each year in the air cargo industry.

When air cargo is shipped off it may change many different destinations, going from place to place, from country to country, and from custodian to custodian. Currently, the companies that keep a record of these information rely on paper documents, which is costly, inefficient, and allows for possible tampering with the cargo, which ultimately leads to losses in the air cargo industry.

However, the Blockchain technology can track and record all the changes an air cargo goes through in a virtual and digital manner. This greatly reduces the costs incurred to the air cargo industry, and increases the security of all air cargo to an unprecedented extent.

Previously, the cargo shipment industry had opted for the Blockchain technology, using it in tracking shipments sent by ships across the world. Also, pharmaceutical companies have also shown their interest in using the Blockchain technology in tracking prescription drugs. It seems that the Blockchain technology has a solution for every industry.

 

Previously, the cargo shipment industry had opted for the Blockchain technology, using it in tracking shipments sent by ships across the world

 

The Bearish Stock Market Is Not Over Yet

The stock market experienced its worst plunge since 2008. However, technical indicators show that the stock market is not over plunging yet.

Last Friday, the stock market had its worst one-day plunge since 2008. However, it doesn’t mean that the bear market has come to an end. Economists believe that the stock market will experience another plunge.

It all began on Thursday, when the stock market shed more shares and stock in one single day in 33 years. The last time the stock market shed this many shares and stock was on Black Monday, 1987. But, numbers indicate that this plunge which took place on March 12, 2020, was not as bad as the Black Monday.

When the shares began going on sale on Thursday, it just got piled up and piled up, and more and more shareholders put up their stock for sale, as it so happens when a large amount of shares are put up for sale. When this happens, a plunge in the stock market can be expected. Initially, the Dow Jones index fell by almost 23%, and the S&P 500 lost 20% of its valuation.

However, by the end of the week the markets closed a little bit higher than the previous numbers, for instance, the Dow Jones closed 9.4% higher and the S&P 500 closed with a 9.2% surge. Nevertheless, market analysts say that this does not mean the market plunge is over, and they expect the bear market to continue

 

The stock market experienced its worst plunge since 2008. However, technical indicators show that the stock market is not over plunging yet.