Market Analysis Report (22 Mar 2019)

UPS Integrates Blockchain to Improve Merchant Supply Chains

Major American postal carrier UPS and e-commerce technology company Inxeption have jointly rolled out a blockchain-powered platform to improve merchant supply chains. The development was announced in a press release published yesterday. The new blockchain platform is designed to help companies list, market and distribute their products to customers. The platform purportedly enables merchants to monitor the entire supply chain from product listing to delivery, ensuring that sensitive data like contract-specific pricing and rates are only accessible to the buyer and seller. Farzad Dibachi, CEO of Inxeption, said:

“The platform creates simplified pricing solutions for B2B merchants with limited digital marketing and IT resources to easily manage all aspects of selling and shipping from one secure place.”

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AriseBank CEO Pleads Guilty to $4.2 Million Securities Fraud

Jared Rice Sr., the founder of crypto bank AriseBank, pleaded guilty to one count of securities fraud last Wednesday in federal court. The Dallas News reported yesterday that Rice, who was arrested last year, admitted to scam investors out of $4.2 million by selling AriseCoin tokens and promising that customers would receive Visa credit cards and accounts insured by the Federal Deposit Insurance Corporation (FDIC).

Neither the cards nor the FDIC accounts existed, though Rice accepted both crypto and fiat during his ICO, which the U.S. Securities and Exchange Commission (SEC) halted in January 2018. According to his plea agreement, the U.S. government and Rice have agreed that the defendant should spend 60 months in prison. He faces a maximum sentence of 20 years, a $5 million fine, three years’ supervised release, restitution and forfeiture.

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MyEtherWallet Teams Up With Sirin Labs for Finney Integration

Sirin Labs, the developer of the Finney blockchain phone, has teamed up with MyEtherWallet for an integration aimed to benefit both companies. Reported by Finance Magnates on Wednesday, the deal will see the Ethereum wallet-generating service rolled out in the Finney’s built-in cold wallet. MyEtherWallet users will also be able to buy the smartphone through the wallet service’s web and app platforms. Sirin Labs CEO, Zvika Landau, stated:

“The integration is a move toward a greater market share for both companies, as the two products complement each other.”

Read more here

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