9/28/2018 – 10/4/2018
Gold is now on the blockchain
I suspect that most of our readers are already well aware of the blockchain hype and the promises the technology holds for responsible and sustainable sourcing. On these grounds, there have been a rising number of companies and start-ups offering blockchain solutions for the supply chains of conflict materials.
Emergent Technology LP (EM Tech) has developed a two-part blockchain system to track gold back to its source and to deal gold as a currency. The Responsible Gold Supply Chain platform tracks responsibly sourced gold from the mining stage all the way to digital wallets. The company aims to ultimately transform a centuries-old supply chain process, promoting efficiency and conformity to legal standards set for the industry, human-rights and the environment. The gold is tracked using cryptographic seals which are scanned with an android device. This creates a public and private key which is added to a blockchain system. The record is fixed, irrefutable and fully auditable throughout the process, creating a permanent digital record.
The other part to the system is the creation of the G-coin; a digital token which represents the physical gold that a company possesses. By identifying gold in a digital format, there is increased liquidity in the market. Each G-coin is the equivalent of 1 gram of gold.
Click here for more details.
Amazon’s new minimum wage puts pressure on retailers during holiday season
Companies are already suffering from a significant shortage of warehouse and logistics workers, and the pressure of the holiday season exacerbates that. The Christmas race has already begun, as companies are striving to increase their warehouse workforce, delivery fleets, and capacity in anticipation for increased consumer demand.
After much criticism and recent scandals, Amazon has announced its new $15 minimum wage for all US workers, which as of November 1, will affect more than 250,000 employees on top of a further 100,000 seasonal employees. This puts a lot of pressure on other retailers to increase wages to attract workers and maintain competitiveness in the long-run, but particularly during this high-pressure season. Amazon can afford to take such measures due to its financial powers and numerous sources of revenue, but this may prove to be more difficult for more traditional retailers.
Competitors Walmart and Target have already raised their starting wages this year and increased spending on delivery, and online and grocery pickups, in an attempt to keep up with Amazon. The current ecommerce and warehouse job market is more costly than for brick-and-mortar stores, and the chances are it will only get more expensive.
For a more detailed analysis, click here.
Tesla meets production goals but is still caught up in “delivery logistics hell”
It seems that automaker Tesla has faced problem after problem over the past year, mainly surrounding production issues regarding its Model 3 car. However, the company has recently made clear progress in addressing its production flaws. This week, it was reported that company production records had been broken by over 50%, as Tesla had managed to meet its goal of producing over 80,000 vehicles in its third quarter. This number included 53,239 Model 3 vehicles, which is a 187% production increase from the last quarter.
Despite this, the company is not yet in the clear. As CEO Elon Musk simply stated in a tweet a couple of weeks ago, Tesla has moved from “production hell, to delivery logistics hell”. The company lacks trailers needed for delivery and has had to look into building its own carriers as a solution to inventory traffic. Additionally, there are numerous unexplained parking lots full of Tesla cars, dotted across the states, which the company claims are being used as a base for consumer delivery. Investigations have revealed, however, that many of the vehicles are either unsold or damaged and waiting for repairs.
For more information on this, click here.
Have a great weekend.