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Bitcoin Daily: Indian Auto Manufacturer Calls For Blockchain Solutions; SEC Accuses ICO Incubator Of Violating Securities Laws

Bitcoin Daily

Indian auto manufacturing giant Tata Motors has launched its AutoMobility Collaboration Network 2.0, a platform that will help develop a center of AutoMobility innovation via partnerships for new technologies and/or business models.

The company is looking for blockchain solutions for automotive, parking marketplace, NLP native chatbot, demand prediction algorithm, real-time monitoring of fuel quality (BSVI) and authenticating genuine spare parts.

“The automotive industry is undergoing a rigorous transformation phase with new and advanced technologies in manufacturing, digitization solutions to optimize the operations and supply-chain, innovative and advanced product technologies and disruptive business/service models for engaging the customer and other related stakeholders,” said Shailesh Chandra, president of Electric Mobility Business & Corporate Strategy for Tata Motors, in a press release.

In other news, Opolis has revealed that it received a grant from MakerDAO that will be used to integrate its Dai cryptocurrency into its decentralized employer ecosystem for payroll and benefits.

“Opolis is offering the best solution we’ve seen yet that can provide the security and benefits usually restricted to traditional workplaces,” said Richard Brow, head of Community Development for MakerDAO, according to Coin Desk. “Maker is looking forward to seeing how Dai can help de-risk this emerging workforce.”

Meanwhile, Farmer Connect has announced a blockchain partnership with the Colombian Coffee Growers Federation, ITOCHU Corporation, the J.M. Smucker Company, Jacobs Douwe Egberts, RGC Coffee, Beyers Koffie and Sucafina so that coffee that travels across the supply chain can be tracked and traced in near real time.

“Global coffee prices recently hit the lowest price in over a decade, and many farmers are being forced to exit the industry entirely by turning to new crops or migrating,” Dave Behrends, founder and president of Farmer Connect SA, said in a press release. “If this trend continues, it will severely impact the broader supply chain, and it will likely be consumers who ultimately shoulder the burden of higher retail prices or a reduced number of coffee producing countries. Blockchain technology, combined with digital identity and the ability to support sustainable projects across borders, is poised to bring radical transparency, efficiency, and data-driven sustainability metrics that have the possibility to birth a new, more equitable economic model in one of the world’s most vital commodity markets.”

And the Securities and Exchange Commission (SEC) revealed that it has sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal $14 million securities offering, as well as for acting as unregistered brokers for other digital asset offerings.

ICOBox allegedly raised money in 2017 to develop a platform for initial coin offerings by selling, in an unregistered offering, around $14.6 million of “ICOS” tokens to over 2,000 investors. The tokens turned out to be worthless.

In addition, ICOBox failed to register as a broker but acted as one, raising more than $650 million for dozens of clients.

“By ignoring the registration requirements of the federal securities laws, ICOBox and Evdokimov exposed investors to investments, which are now virtually worthless, without providing information that is critical to making informed investment decisions,” Michele Wein Layne, regional director of the Los Angeles Regional Office, said in a press release.

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