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IBM backs a blockchain start-up MineHub technologies

 

Tech giant IBM partnered up with blockchain startup, MineHub technologies to enhance the efficiency and transparency of the supply chain management network of the mining industry
ICO data

 

The new framework will be based on IBM cloud platform and is powered by the Linux Foundation’s Hyperledger Fabric.

 

Through this partnership, the firm aims to implement cost-saving applications in the supply chain management framework. The global mining industry,valued at $1.8 Trillion, has been traditionally been plagued with inefficiencies due to age-old practices inherent in the system. The digitization and democratization of these frameworks will potentially lead to increased efficiency and transparency.

 

Blockchain companies across industry sectors

Blockchain companies across industry sectors

source: InWara's ICO+STO database

 

InWara's data suggests that Blockchain technology is impacting traditional industries which have been known to be slow to adapt to new practices.

 

Blockchain’s impact on Supply chain

 

Supply chain solutions for the Mining industry is the newest member adoption amongst industries poised to be impacted by blockchain technology. These industries have traditionally suffered from inefficiencies and cost over runs. The advantage of blockchain technology is in the increased level of automation, of legacy processes.

 

ICOs in supply chain & logistics

Number of ICOs vs number of ICOs listed in supply chain industry

source: InWara's ICO+STO database

 

According to InWara out of 61 companies that conducted ICOs so far in supply chain management, only 10 are listed on exchanges. 

 

# of Failed ICOs Vs ICOs conducted

Number of Failed ICOs Vs ICOs conducted accross industries

source: InWara's ICO+STO database

 

Despite addressing legacy industries the failure rate in ICOs has been low. Supply chain management sector has a failure rate of 16.39% closely followed by environment and automobile sectors at 11.1% and 9.3%.

 

Top ICOs in Supply Chain management sector according to private funds raised

Top 5 ICOs in Supply Chain management sector

source: InWara's ICO+STO database

 

Chronicled, Bext360, ChainvineSlync.io and Crowdz are the top companies in terms of private funds raised.

 

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Disclaimer: This is not financial advice. For more details visit t&c

 

 

 

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