India Pushes Blockchain Digitalization Of Trade Documents; Bitcoin IRA Debuts Saver IRA
CargoX’s Platform for Blockchain Document Transfer (BDT) was connected with the Port Community System (PCS) of India amid a push in the country for trade documents, including of bills of lading, to be digitized, WorldCargo News reported.
Portall Infosystems of India created the PCS technology and has put it into place at 13 significant ports in the country and 19 ports overall with over 16,000 business stakeholders. As a result, stakeholders can supervise bills of lading as well as other information digitally.
The process is said to more effectual and in line with the necessity to social distance during the coronavirus health crisis.
CargoX CEO and Founder Stefan Kukman said per the report, “In these times of multiple risks to our common society, we are proud to help shipping companies … resolve supply chain document sending issues and enables them to meet delivery deadlines everywhere in the world, in a secure and efficient manner, while also lowering the document transfer cost.”
In other news, Bitcoin IRA, the digital currency retirement savings company, is able to work with smaller accounts as roll outs its Saver IRA product, CoinDesk reported.
The firm has added an account that doesn’t require a minimum balance but mandates a monthly deposit of at least $100 with its Saver IRA. Bitcoin IRA rolled out its inaugural self-directed retirement account for individuals that mandated a balance of at least $20,000.
The firm has reduced its standard account minimum to $3,000. Additionally, the company needed to create an application programming interface (API) that would let users put direct deposit into place. Bitcoin IRA Chief Operating Officer Chris Kline said he thinks that a higher number of consumers will seek alternative retirement funds amid coronavirus lockdowns that negatively impact the worldwide economy.
Kline told the outlet, “I think you’re going to see a lot of tightening of belts, a lot less 401(k)s being offered by providers out there possibly, or not matching.”
Source: PYMNTS
