I wanted to start a new thread where followers of YOJ can share some insight on the competitive landscape that YOJ will have to navigate through as it "conquers" the global shipping industry. Earlier today I stumbled upon an IBM press release announcing that IBM and A.P. Moller-Maersk are joining forces via a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology. According to the press release: "The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem. It will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones." The press release further states: " The cost and size of the world’s trading ecosystems continues to grow in complexity. More than $4 trillion in goods are shipped each year, and more than 80 percent of the goods consumers use daily are carried by the ocean shipping industry. The maximum cost of the required trade documentation to process and administer many of these goods is estimated to reach one-fifth of the actual physical transportation costs. According to The World Economic Forum, by reducing barriers within the international supply chain, global trade could increase by nearly 15 percent, boosting economies and creating jobs." Those are eye popping numbers and they are indicative of how gigantic of an addressable market the global shipping industry is. The joint venture is slated to go live in the second half of 2018. Please find below links to the official press release and to various news commentary on the announcement. What do you make of this announcement? http://www-03.ibm.com/press/us/en/pressrelease/53602.wss https://www.bloomberg.com/news/arti...ew-blockchain-company-for-international-cargo http://fortune.com/2018/01/16/ibm-blockchain-maersk-company/ https://www.reuters.com/article/us-...based-platform-for-global-trade-idUSKBN1F51DE
YOJ Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
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