Container company Skycell to accept cryptocurrency payments for services
Temperature controlled container company Skycell has revealed that it will accept cryptocurrency payments for its services, effective immediately.
The firm, which is part of Swiss-based Smart Containers Group, said the innovation aims to accelerate transaction times for clients, and marks a decisive step towards further integrating blockchain technologies into the logistics industry.
“At SkyCell AG we aim to put three core principles into practice – innovation, reliability, and sustainability. These three tenets have helped us to establish ourselves as one of the top four providers of Pharma containers in the industry,” said Richard Ettl, CEO and Co-Founder of Smart Containers Group.
“We have recognised the dramatic potential of blockchain technology in transforming the logistics and pharmaceutical industries and are proud to be an early-adopter within the sector,”
Smart Containers Group’s said its decision to accept cryptocurrencies as payment is geared towards expediting processing times and minimising costs for clients, making more traditional payment methods, which “rely on third-parties and are often unavoidably tedious and expensive as a result, obsolete”.
The instantaneous nature of transactions conducted using cryptocurrency will also serve to minimise the effects of fluctuating currency exchange rates – which can heavily impact payments made in a number of global currencies as a result of elongated processing times.
“From our experience within the logistics, pharmaceutical, and food industries – we have first-hand experience of the difficulties which payments processes can pose to clients,” said Etti.
“Often, banking fees can make up as much as 5% of invoice value, with traditional transfers taking up to 90 days, meaning payments alone are very costly both financially and in terms of efficiency. By introducing the possibility of conducting transactions through cryptocurrency, Smart Containers Group will reduce payment processes to a matter of minutes, while cutting out third party handling fees entirely.”
All SkyCell AG invoices will include the possibility to settle the invoice in cryptocurrency, giving customers the option of paying in BTC or ETH, as well as EUR, USD, and CHF.
All exchange rates will be taken from Bitstamp at the moment of transfer, negating the issue of fluctuating exchange prices which plague the current marketplace.
Customers conducting payments in BTC or ETH will also enjoy a 2% discount on all invoices for SkyCell AG services – further compounding the benefits which cryptocurrency payments can accrue.
“For SkyCell AG, accepting payments in cryptocurrency is the first step in automatising the payments process, and complements our long-term vision of providing fully autonomous containers of the future, which will administer themselves entirely based on smart contract technology,” said Etti.
“The logistics industry has been characteristically slow to implement and adopt transformative technologies and we hope that by embracing change, others may follow suit so that the industry as a whole will benefit.”
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.