Category Archives: eTradeConnect

TESLA Blockchain and Cryptocurrency Ties

TESLA Blockchain and Cryptocurrency Ties | Chico Crypto

Welcome to this blockchain and cryptocurrency video posted by Chico Crypto. In this video Tyler talks about Tesla (founded by Elon Musk) and the news surrounding blockchain and crypto project ties.

CargoSmart, SIPG, and Tesla

The blockchain-based logistics company CargoSmart along with SIPG and COSCO, have been working with Tesla to trial a blockchain application that shortens the cargo release time of completed vehicles and releases them to owners faster than before.

Tesla blockchain shipping logistics trial

Which blockchain is being used

  • Looking at cargosmart.io a partner in the global shipping alliance. We can see that CargoSmart is a software company funded by Orient Oversease Container Line (OOCL). This company is creating the blockchain software that Tesla is and will be using for shipping and end-user delivery logistics. It is important to note that OOCL is not just a new blockchain software startup with no proven history. It is an extension of one of the most powerful shipping line companies in the world.
  • CargoSmart recently completed a PoC with eTradeConnect where they demonstrated value in cross-network collaboration in trade finance.
  • Collaboration between banks, shippers, terminal operators, and ocean carriers make up a new consortium called the Global Shipping Business Network (GSBN).

Who is leading the build of the Tesla blockchain - eTradeConnect

  • eTradeConnect is part of Hong Kong InterBank Clearing Limited (which is part of the Hong Kong Monetary Authority).
  • A single purpose company to provide trade and trade finance to local and overseas participants using distributed ledger technology (DLT)

Tech being used for the Tesla blockchain solution - OneConnect

  • Ping An, part of Ping An Bank, which runs OneConnect - a blockchain service. OneConnect has filed for over 3000 blockchain patents.
  • OneConnect is the blockchain looking to be used with Tesla factory in China
  • FiMAX by OneConnect looks to be the architecture that will be used. FiMAX BNaas and FiMAX S3C to be precise which was made originally by the founder of Hyperledger Fabric.
  • Baseline, UniBright, Chainlink, and ShipChain may also be part of the Tesla blockchain solution with Ethereum as a component that ties all these together.

Tesla blockchain news

Tesla and Elon Musk are getting their feet wet in the blockchain space. It seems as if Tesla is testing a blockchain solution at one of the Gigafactories in Asia. The breadcrumbs reveal a number of crypto projects that could have ties to the Tesla blockchain components and supply chain. Watch the video above to learn more about Tesla and possible crypto partners.

Check out Elon Musk talk a bit about Bitcoin and cryptocurrency and view our wishlist for blockchain features we would like to see available with the release of the CyberTruck - View here.

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