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Politicians demand deposit return scheme to limit plastic waste
 The UK government is under growing pressure to introduce a money-back return scheme for plastic bottles, in order to tackle huge volumes of waste in a country where 400 bottles are sold every second.

Opposition parties have called on ministers to introduce a deposit return scheme that experts say would drastically reduce the number of plastic bottles littering streets and seas around the UK. Similar schemes have been successfully introduced in at least a dozen countries.

The idea has the backing of global drinks company Coca-Cola and comes amid warnings that the worldwide plastics binge poses as serious a threat as climate change.

Sue Hayman, Labour’s shadow environment secretary, urged the government to take swift action. “A deposit return scheme would have widespread public support and would go a long way to ensuring that we recycle as much of our waste as possible,” she said.

Kate Parminter, environment spokesperson for the Liberal Democrats, said momentum was growing behind calls for a deposit return scheme. “Earlier this year, Coca-Cola said to the Scottish parliament they would back a well-designed deposit return scheme,” she said. “Now that industry are backing this scheme, it is high time the UK government began to throw their weight behind it.”

Last week, new figures obtained by the Guardian established that a million plastic bottles are bought around the world every minute and the number will jump another 20% by 2021.

According to an unpublished parliamentary report, more than 4m plastic bottles a week could be prevented from littering streets and marine environments in Britain if authorities adopted the kind of deposit return schemes that operate in countries like Germany and Australia.

The Conservative party’s manifesto did not mention such a scheme in the run-up to last month’s general election, but a spokesman for the Department for Environment, Food and Rural Affairs said the idea was being considered as part of a wider litter strategy launched in April.

“We have made great progress in boosting recycling rates for plastic bottles, with their collection for recycling rising from less than 13,000 tonnes in 2000 to over 330,000 tonnes in 2015,” the spokesman said. “We are considering further the practical ways in which we can deal with the worst kinds of litter, including plastic bottles.”

However, Caroline Lucas, MP for Brighton Pavilion and co-leader of the Green party, said ministers must do more.

“The government is under growing pressure to take action on the plastic bottle crisis,” she said. “With such a slender majority in the House of Commons, and with the public swinging behind the campaign against plastic waste, there is a real chance that ministers will consider introducing a bottle deposit scheme.

“For a government desperate to salvage its reputation, taking such a simple step forward isn’t just the right thing to do – it serves their self-interest too.”

In Scotland, support is growing for a deposit return scheme. Last week, the Scottish National party launched a detailed study into how such a scheme for bottles and cans would work.

Roseanna Cunningham, the Scottish environment secretary, said: “Clearly there are a number of issues for the Scottish government to consider when it comes to deposit return schemes, which can only be addressed by carrying out work to understand the design of a potential system.”

Recycling rates for plastic bottles in Britain stand at 59%, compared with more than 90% in countries that operate deposit return schemes, such as Germany, Norway and Sweden.

Coca-Cola in Britain and Europe has made a U-turn on deposit schemes and now supports their adoption in the UK, after pressure from environment and anti-waste campaigners. “We believe a new approach is needed,” the company said in a report to the environmental audit committee before its inquiry into plastic bottles was dropped after the dissolution of parliament.

“From our experiences in other countries, we believe a well-designed, industry-run drinks container deposit return scheme could help increase recycling and reduce littering,” Coca-Cola added.

Between 5m and 13m tonnes of plastic end up in the world’s oceans each year, to be ingested by sea birds, fish and other organisms, and by 2050 the oceans will contain more plastic by weight than fish, according to research by the Ellen MacArthur Foundation.

Campaigners say plastic is polluting every natural system and an increasing number of organisms on the planet, with some of it already finding its way into the human food chain.

Output: A money-back return scheme for plastic bottles is being promoted by opposition political parties in the UK. The country currently sees 400 bottles sold every second and has recycling rates for the items of just 59%, compared to over 90% in countries with deposit return. Campaigners from parties including the Greens, Labour and the Liberal Democrats have called for the introduction of a scheme similar to those successfully adopted in at least a dozen countries including Australia and Germany and which has the support of Coca-Cola. The initiative could prevent over 4 million bottles a week ending up as litter.


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UK could be sued by investors for Brexit compensation
 Until a week ago when people spoke about the Brexit bill, they meant the financial settlement between the EU and the UK. But now, a different bill has made headlines, first in legal blogs, then in the press. According to these reports, investors could sue the UK, seeking compensation for losses arising because of Brexit.

What is this about?

Imagine you are a Chinese investor. The fame of your product has spread to France, and so, in 2014, you decided to set up a factory in Europe. Because your staff speak English and you are more familiar with the English legal system you opted for the UK as your preferred location, relying on the ability to have your product approved for the whole EU and to trade freely with your French customers. Looking forward to a massive increase of your business in Europe, you poured £100 million into your new factory. By 2015 it was up and running.

Then, the UK voted for Brexit. You learn that if the UK leaves the EU without a deal, shipments of your product to the Continent would be subjected to a 5% tariff. Your margins do not allow you to absorb this amount yourself, but you cannot pass it on to your customers either, as that would price you out of the market. Your investment is turning sour. Like any rational investor, you start looking for a way to minimize your losses. Your lawyer advises you to sue the UK government the day after Brexit happens. For £100 million.

Can you win?

The law that decides that question is called “international investment law”. It is a network of more than two thousand treaties signed mostly between two countries (so-called ‘bilateral investment treaties’ or ‘BITs’) and protecting investors. UNCTAD lists 95 of such treaties in force for the United Kingdom. Their structure is often quite similar: they mainly provide for a right of compensation in case of expropriation of the investments of nationals or companies from one of the treaty parties by the other party, and for the obligation to afford such investments fair and equitable treatment.

If a state violates these commitments, the investor has the right to sue the state for damages before an international arbitral tribunal (referred to as ‘investor-state dispute settlement’, or ISDS). The number of cases filed under such agreements has skyrocketed lately and has led to public opposition against the inclusion of ISDS in the negotiations for the trade agreement between the EU and the USA.

The question then is, whether the changes brought about by Brexit would violate the UK’s bilateral investment treaties. Brexit clearly does not lead to the direct expropriation of our Chinese firm’s investment. However, it is recognized in investment law that if regulatory action by the host country unreasonably interferes with an investment so that an investor cannot enjoy it, the investor can demand compensation – e.g. claiming a violation of ‘fair and equitable treatment’. Where to draw the line between legitimate regulation and unfair treatment of an investor is contested.

Most arbitrators would likely regard Brexit (and its consequences) as a legitimate exercise of regulatory powers by the UK. They would argue that investors’ expectations that the UK stay in the EU are not protected under investment treaties, and so investors cannot demand compensation.

But some arbitrators might disagree. They could refer to case law that regards a fundamental change of the regulatory regime which does not take into account the consequences for investments made under the previous regime as a violation of the state’s obligations. It was under this rationale that Spain was ordered to compensate a British and a Luxembourgois investor for a role-back of its incentives for solar power.

To be clear: there are a number of other legal hurdles for a Brexit-related investment claim to succeed. The investor would need to demonstrate that the regulatory regime under which it operates has deteriorated significantly because of Brexit. This will more likely than not be the case for an investor’s ability to trade with the EU.

Second: the investor must be protected by an investment treaty. Not every country that is a significant source of investment into the UK has an investment agreement with the UK: the USA, Japan, and most EU member states do not. China does. But even where there is no treaty, investors often – for tax reasons – invest through subsidiaries, so that investment ultimately can flow into the UK from surprising sources. Third: the investor must file a case against the UK, prove the damages it claims and an arbitrator must follow a minority position on the interpretation of the protection provided by these agreements.

However, the government can – through action and inaction – make it more likely that investors bring successful investment arbitration claims. Unaware of this risk, the government currently seems to be doing both.

An investor is more likely to win its case if it has obtained concrete commitments or assurances from the government that are not kept. A letter to an investor committing to concrete Brexit outcomes could prove disastrous. The government’s correspondence with Nissan raises a red flag in this regard, although its content is not known.

Arbitration is also more likely to succeed where the government could provide for regulatory continuity but does not. This is a task the “Great Repeal Bill” has to tackle. But the devil here is in the detail. A significant example in this regard is EU trademarks. Currently, trademarks registered with the EU Intellectual Property Office are valid in all member states – including the UK.

As EU trademarks are granted by an EU institution under EU law, they will cease to be valid for the UK upon Brexit, unless the government takes action. The Great Repeal Bill White Paper does not yet propose a solution for this issue. The number of EU trademarks is significant; the financial harm that could be caused by the loss of rights in the UK is, as well. The government should be aware of it and take action.

By Dr Holger Hestermeyer, Shell Reader in International Dispute Resolution at King’s College London and a Senior Research Fellow at the Transnational Law Institute.

Output: Investors could sue the UK for compensation for losses resulting from Brexit, according to some legal experts. International investment law, a combination of over 2,000 treaties, most of which are bilateral investment treaties signed between two countries, is designed to protect investors. The United Nations Conference on Trade and Development lists 95 such treaties relating to the UK. Most provide a right of compensation if investments are expropriated and stipulate an obligation to treat such investments fairly and equitably. Some analysts argue that investors could have a right to sue if Brexit violates such commitments.


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Johnson & Johnson faces class action over vaginal mesh product
 A pharmaceutical giant allegedly played down the risks of a vaginal medical device that has caused debilitating and irreparable pain to thousands of women after giving birth.

Instead it was “aggressively marketing” the products to surgeons as a cheap and easy way to boost their profits.

Up to 8,000 women in Australia and 100,000 worldwide are thought to have used the vaginal mesh and tape implants, which were produced by the Johnson & Johnson group as a low-cost way to treat prolapsed pelvic floors and urinary incontinence usually caused by complications after giving birth.

On Tuesday, a trial involving 700 Australian patients against three Johnson & Johnson companies began in the federal court. Many of the women allege the devices ruined their lives.

They suffered irreparable, debilitating pain after the devices began to erode into surrounding tissue and organs, causing infections and complications. The mesh is unable to be removed. Even after further surgery, women continue to suffer chronic pain.

Johnson & Johnson allegedly failed to properly warn patients and surgeons of the risk, or test the devices adequately.

Transvaginal mesh implants were designed to treat prolapsed pelvic floors and urinary incontinence.

The trial has been described as one of the country’s largest product liability class actions, and Shine Lawyers, representing the applicants, described its commencement as an important step on the road to justice, accountability and recompense.

One woman involved in the case, Joanne Maninon, spoke outside of court on Tuesday. She said she wants to make sure no woman is ever subjected to the trauma inflicted by the devices again.

“It can’t go on,” Maninon said. “There’s too many women who have gone through the pain, the complications ... it’s lifelong,” she said.

“You can’t just have the mesh removed. You’re damaged for life.”

The case is expected to run for six months, and Tony Bannon SC began a four-day opening submission on Tuesday. He said Johnson & Johnson had aggressively marketed the lucrative benefits of the products to surgeons.

The risks of the surgery, Bannon alleged, were either minimised or not communicated to either surgeon or patient.

“[They were] overwhelmed by a tidal wave of aggressive promotion, designed to persuade both surgeons and patients of the quick, easy one operation able to resolve the particular difficulties,” Bannon told the court.

He said the company saw a “valuable market” to be gained through emphasising the speed and ease with which the devices could be installed.

It’s alleged the consultants engaged to trial the devices knew the risks.

Bannon cited an email exchange, involving French doctors enlisted for the trial, which appeared to show awareness of the dangers associated with surgery. One doctor wrote that he would “not like my wife to undergo this procedure”, and did not think he would be “alone” in that view.

The doctor is now earning royalties from their use, the court heard.

“That is one of the transvaginal mesh team members, one of the consultants. His view is that ‘I wouldn’t like my wife to undergo that, and I don’t think I’m alone’,” Bannon said.

He said the comment was known to Johnson and Johnson, but was not followed up.

The mesh is designed to cause inflammation upon its surgical insertion, to help fix it in place. But the inflammation did not subside as intended. The continuing inflammation allegedly caused the mesh to stiffen, meaning it did not have the flexibility the body requires.

Johnson & Johnson, which has also faced action in the United States, stopped selling the product. It claimed this was a commercial decision.

Bannon characterised it as an act designed to limit the number of women given the device, and therefore reduce its exposure to damages.

“At the end of the day, apart from being an ethical decision, I suppose that’s a commercial decision as well,” he said.

The tape product is still being sold by Johnson & Johnson. The trial continues on Tuesday.

Output: Johnson & Johnson has been accused of downplaying the risks of a vaginal mesh it produced to treat complications arising from childbirth in an Australian court case involving 700 patients. The mesh and tape implants, believed to have been used by up to 100,000 women worldwide, cannot be removed and have caused some women to experience chronic pain. Johnson & Johnson is alleged to have failed to issue proper warning to surgeons and patients and is accused of failing to adequately test the devices. The case is one of Australia’s largest ever product liability class actions.


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Autonomous vehicles said to be hitting puberty
 For most people, self-driving cars are just an abstraction, something they read about occasionally in the press but still consider a far-off, futuristic fantasy. They read the headlines and scoff, “Not in my lifetime.” But the events of this past month may help put a lot of that skepticism to rest. There was a flurry of activity in both Congress and the private sector over the past few weeks, signaling a key shift in the trajectory of self-driving cars and proving that these vehicles are much closer to reality than most people think.

Experts whose job it is to pay close attention to this emerging technology have been impressed with the pace of developments in the last few weeks. “Out of the past three years that I've been researching [autonomous vehicle] policy, this is by far the most important month of Congressional action and partnerships I've seen yet,” said Greg Rogers, a policy analyst at the Eno Center for Transportation. “What we're seeing right now is that autonomous vehicles are moving from their infancy into their adolescence.”

“this is by far the most important month”

First, and most significantly, the first federal legislation to regulate self-driving cars in the US was introduced on June 20th. These bills — there are 14 of them — would give the US National Highway Traffic Safety Administration (NHTSA) the power to increase the number of self-driving cars on public roads. And they would preempt the current patchwork of state laws regarding the enforcement of autonomous driving. Automakers and the big tech companies are in favor of the bills for two main reasons: they want to get their robot cars on the road faster than their competitors, and they would rather abide by one overarching set of federal laws than 50 individual state laws.

The package of bill includes a proposal to increase federal motor vehicle safety standard (FMVSS) exemption caps from 2,500 to 100,000 — which is a wonky way of saying that it would allow automakers and tech firms to test (and eventually deploy) autonomous vehicles without steering wheels, brake pedals, and other components designed with humans in mind and required by federal safety standards. Right now, these companies are testing cars that can at best be considered Level 3 autonomous, meaning they still require some human intervention. Some states have passed laws allowing for the testing of higher levels of automation, but most have yet to take up any legislation.

“The enabling factor — and maybe the limiting factor — will be the passage of the laws being considered by Congress right now,” Rogers said. “Companies like Waymo, Uber, and GM (via Lyft) can only get a critical mass of fully driverless cars on the road if Congress expands NHTSA's exemption authorities and preempts the patchwork of state regulations that are creating a lot of uncertainty right now.”

“Silicon Valley is still the golden child of America”

And even more surprising, there appears to be some bipartisan consensus around these bills, proving that even in a gridlocked, polarized political environment, Silicon Valley and the big automakers still hold enormous sway over politicians. “Silicon Valley is still the golden child of America — the actual shining city on a hill, with Detroit just a little bit behind,” Rogers said. “GOP naturally wants to seize on this opportunity to build up an industry.”

Some experts were surprised by how quickly Congress tackled automated vehicle policy. Jim McPherson, an attorney and consultant on self-driving cars, said that Congressional action was “both long overdue... yet remarkably rapid,” because the Obama administration’s Federal Automated Vehicles Policy just came out last September. “Whether the final bills look like House and Senate drafts is yet to be determined,” he added.

Still, there are a few dissenting voices. Safety and consumer advocates decry the bills as an enormous giveaway to the companies Waymo (née Google) and Uber that are building and testing self-driving cars. Their opposition could hurt the passage of these bills, especially since the motivating force behind self-driving cars is their promise to reduce or eliminate traffic fatalities.

Waymo

“While we see great potential for the future of autonomous vehicles, basic safeguards and reasonable industry accountability are essential,” Jacqueline Gillan, president of the Advocates for Highway and Auto Safety, testified at a House hearing on the legislation. “Testing and government oversight will not inhibit technological creativity and innovation, but without them, it will inhibit and threaten public protection and acceptance.”

a clearer sense of how AVs will be physically be managed as a commercial asset

Beyond Washington, DC, a number of key deals were made, giving us a clearer sense of how autonomous vehicles will be physically managed as a commercial asset. Its all fun and games to talk about self-driving cars taking over the roads, saving hundreds of thousands of lives and maybe putting just as many people out of work. But who will operate these cars? Who will own them? And how will we use them? This past month, we finally got some answers.

Alphabet’s Waymo announced a partnership with Avis to manage its fleet of autonomous vehicles in Arizona. Meanwhile, it was revealed that Apple is leasing its small fleet of self-driving cars from Hertz. That’s right: old-fashioned car rental companies are suddenly in vogue.

Legacy car rental companies have long worried about their place in the “new mobility” ecosystem. Over the last year, Hertz stock had dropped by more than 75 percent amid falling revenue and profit, and investor concern about the role rental companies will play in an automotive industry where self-driving cars and ride-hailing play a greater role. But the news about Apple has sent Hertz’s stock soaring to its highest levels in almost two years. Avis’ stock was also up noticeably.

old-fashioned car rental companies are suddenly in vogue

The headlines sound forgettable at first glance. But both Avis and Hertz have something that most tech companies working on driverless cars lack: a sprawling network of customers and vehicles, and decades-long experience in managing huge fleets of cars with high usage rates.

Theoretically, self-driving cars will need more maintenance than personally owned vehicles, especially if they are deployed in a ride-hailing capacity. Waymo and Uber have said they envision their cars constantly picking up and dropping off passengers, conjuring up the image of the “perpetual trip.” John Krafcik, CEO of Waymo, estimates his vehicles will log around six times more miles per year than average cars. That will mean more wear and tear than your average vehicle — which Avis and Hertz are perfectly positioned to take on.

“Frankly, car rental companies are the best positioned to reinvent themselves and survive in this (for lack of a better term) brave new world of transportation technology,” Rogers said.

There was a bunch more news this past month that pushed the needle forward on self-driving cars. GM announced that it had begun production of 130 more self-driving Chevy Bolts to eventually add to its fleet of 50 that are currently being tested on the streets of San Francisco. Nvidia, one of the largest chipmakers in the world, said it would work with Volvo and Volkswagen to build high-tech “brains” for their self-driving cars. The growing list of partnerships involving self-driving cars underscores the assumption that no one company will be the dominate player in this industry. In the early days, everyone will need to work together to overcome societal roadblocks.

They wreck our bodies and our souls, but we are addicted to their cold, hard steel

“Don’t expect any of these recent partnership agreements to be long-lived, entirely exclusive, or without an escape clause,” McPherson, the automated vehicle consultant, said. “Parties will use the relationships to learn complementary businesses, try out what works, and try to be first to market with an end-to-end solution. The prize for being first-to-market with a safe, profitable autonomous vehicle is beyond estimation, but at the very least, that company will be worth as much Uber's valuation.”

Moreover, these announcement may put to rest some of the more nagging questions about self-driving cars. But they probably won’t do much to dampen the skepticism that surrounds this technology. As a species, we have been driving automobiles for well over a century. They wreck our bodies and our souls, but we are addicted to their cold, hard steel. We believe their marketing campaigns when it appeals to our collective sense of rugged individualism. Recent surveys show that the automakers will have to pry the steering wheel from our cold, dead fingers before we let robots take over our roads.

That’s why small experiments, like the one the University of Michigan launched recently, will make a huge difference. Starting this fall, the university plans to deploy two completely driverless shuttles, manufactured by French startup Navya, to service a two-mile route. The shuttle can carry a maximum of 15 passengers, and lacks a steering wheel or pedals.

These experiments allows for more accurate mapping, which in turn leads to more accurate driving. As the technology improves, self-driving cars will be able to drive confidently in wider geographic areas. But the need to start small underpins the skepticism that many people still have toward self-driving vehicles. A gradual roll-out — on university campuses, corporate campuses, and in small, geofenced areas — will help acclimate people to the driverless experience. Once people realize that self-driving cars aren’t going to kill them, and can actually be kind of adorable and convenient, the technology will have truly arrived.

Output: Recent congressional action and partnerships between car makers and tech companies have shifted autonomous vehicles from infancy to adolescence, said Greg Rogers, a policy analyst at the Eno Center for Transportation. Introduced on 20 June, the first federal legislation to regulate self-driving cars includes proposals to allow companies to test and deploy autonomous vehicles without steering wheels and brake pedals. Meanwhile, Alphabet self-driving vehicle subsidiary Waymo has partnered with Avis to manage its fleet of autonomous vehicles in Arizona and Apple is leasing a small fleet of self-driving cars from car rental company Hertz.


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Oil prices below $50 'not sustainable' for US shale: Continental's Hamm
 U.S. shale oil pioneer Harold Hamm on Wednesday warned that sub-$40 crude would cause many U.S. producers to stop drilling and warned fellow CEOs to exercise discipline.

U.S. crude prices have plunged nearly 18 percent this year, giving up the gains they accrued after OPEC and other exporters agreed to reduce output last winter. The cuts aim to shrink global crude stockpiles and support prices, but rising production in the United States and elsewhere has made that effort harder.

On Wednesday, U.S. crude traded at about $44 a barrel.

"This price ... is not sustainable," Hamm, CEO and chairman of Continental Resources , told CNBC's "Squawk Box." "It needs to be north of $50 for sure to be sustainable in the world."

Output: Oil prices below $50/bbl are not sustainable and If the price of oil falls below $40/bbl it would force drillers to reduce capital expenditures and stop drilling new wells, causing output to dry up and leaving the market undersupplied, said shale pioneer Harold Hamm, CEO of Continental Resources. "While this period of adjustment is going on, drillers don't want to drill themselves into oblivion", he said. "Back up, and be prudent and use some discipline. That's what we're doing at Continental and there are other CEOs I think that are probably doing the same thing."


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BNEF offers bleak outlook on coal's future
 This article first appeared on Bloomberg View and the Bloomberg Terminal.

By Nathaniel Bullard

Bloomberg New Energy Finance’s latest New Energy Outlook points the way to a sunny, windy future for the global electric power industry. That doesn’t mean that fossil fuels (or nuclear power) will vanish. It also doesn’t mean that all fossil fuels are the same. The future of natural gas and coal is a tale of two resources — one a story of rising fortunes, the other of slow decline.

The latest outlook on natural gas is brighter than ever: BNEF’s forecast for gas shows a higher estimate for consumption in 2040 than in previous years, with a short decline at the end of this decade.

(Mostly) Up and Up

Global gas consumption for power generation

Source: Bloomberg New Energy Finance New Energy Outlook 2017

Coal is a different matter. Coal demand is expected to peak late next decade, then decline almost every year to reach a low of 3.1 billion metric tons in 2040, about 25 percent lower than at its peak.

Up …Then Way Down

Global coal consumption for power generation

Source: Bloomberg New Energy Finance New Energy Outlook 2017

This long-term outlook is nuanced, as it should be. The aggregated demand for each fuel from 2020 to 2040 has not changed much in three successive New Energy Outlook reports. Total gas consumption has only increased 6 percent since the 2015 report, while coal consumption from 2020 to 2040 — despite the plunge that is now expected, as noted above — has only changed 3.5 percent, and was exactly the same in 2016.

However, the shape of that coal curve is still important, even if the volume hasn’t changed much. A coal mine that opens today could have a 60-year life, but it is likely to be one fraught with oversupply and competition from other coal producers, as well as other technologies.

So how does the 2017 New Energy Outlook for gas and coal compare to how major oil companies and the International Energy Agency see it?1

For gas, everyone agrees: Consumption grows. Royal Dutch Shell Plc expects gas consumption to more than double and, perhaps not surprisingly, Exxon Mobil Corp. and BP Plc also expect consumption to increase at least 50 percent. BNEF’s expectations are a bit more muted.

Up and Up

Global gas consumption for power generation (rebased 2015=100)

Sources: Bloomberg New Energy Finance, Exxon Mobil, BP, Shell, International Energy Agency

The outlook for coal isn’t so uniform. Shell and Exxon Mobil’s outlooks are both peak coal scenarios, at least for power generation. BP and the IEA expect slow increases in coal consumption.

Then there is BNEF.

Only One Forecasts a Decline

Global coal consumption for power generation (rebased to 2015=100)

Sources: Bloomberg New Energy Finance, Exxon Mobil, Shell, BP, International Energy Agency

Of these five coal outlooks, one is negative, two show eventual declines after future peaks, and the others are up and up. The differences are more than academic. Energy and resources companies make large, long-term bets on future demand for coal, gas, and oil. The gap between forecasts and reality can be costly, in an era when a liquefied natural gas project can cost $54 billion. Companies (and energy markets) going long on gas for power generation are at least playing into a consensus view on overall increasing consumption. Companies and energy markets might be doing the same on coal — but the long-term outlook doesn’t bear them out.

Output: Bloomberg New Energy Finance’s New Energy Outlook has presented a bleak picture for the future of coal, signalling that solar, wind and natural gas power represent the future of the energy industry. Coal demand is expected to peak in the next decade, before falling nearly every year and reaching 3.1bn metric tons in 2040, a 25% decline. Natural gas, in contrast, has brighter prospects, showing a higher consumption rate in 2040 than in previous years, despite a short drop at the end of the current decade.


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Secrets of 2,000-year-old Roman maritime concrete revealed
 ROMACONS drilling at a marine structure in Portus Cosanus, Tuscany, 2003. Drilling is by permission of the Soprintendenza Archeologia per la Toscana. Credit: J.P. Oleson

Around A.D. 79, Roman author Pliny the Elder wrote in his Naturalis Historia that concrete structures in harbors, exposed to the constant assault of the saltwater waves, become "a single stone mass, impregnable to the waves and every day stronger."

He wasn't exaggerating. While modern marine concrete structures crumble within decades, 2,000-year-old Roman piers and breakwaters endure to this day, and are stronger now than when they were first constructed. University of Utah geologist Marie Jackson studies the minerals and microscale structures of Roman concrete as she would a volcanic rock. She and her colleagues have found that seawater filtering through the concrete leads to the growth of interlocking minerals that lend the concrete added cohesion. The results are published today in American Mineralogist.

Roman concrete vs. Portland cement

Romans made concrete by mixing volcanic ash with lime and seawater to make a mortar, and then incorporating into that mortar chunks of volcanic rock, the "aggregate" in the concrete. The combination of ash, water, and quicklime produces what is called a pozzolanic reaction, named after the city of Pozzuoli in the Bay of Naples. The Romans may have gotten the idea for this mixture from naturally cemented volcanic ash deposits called tuff that are common in the area, as Pliny described.

The conglomerate-like concrete was used in many architectural structures, including the Pantheon and Trajan's Markets in Rome. Massive marine structures protected harbors from the open sea and served as extensive anchorages for ships and warehouses.

Modern Portland cement concrete also uses rock aggregate, but with an important difference: the sand and gravel particles are intended to be inert. Any reaction with the cement paste could form gels that expand and crack the concrete.

"This alkali-silica reaction occurs throughout the world and it's one of the main causes of destruction of Portland cement concrete structures," Jackson says. A video abstract of the remarkable properties of Roman concrete. Credit: University of Utah

Rediscovering Roman concrete

Jackson's interest in Roman concrete began with a sabbatical year in Rome. She first studied tuffs and then investigated volcanic ash deposits, soon becoming fascinated with their roles in producing the remarkable durability of Roman concrete.

Along with colleagues, Jackson began studying the factors that made architectural concrete in Rome so resilient. One factor, she says, is that the mineral intergrowths between the aggregate and the mortar prevent cracks from lengthening, while the surfaces of nonreactive aggregates in Portland cement only help cracks propagate farther.

In another study of drill cores of Roman harbor concrete collected by the ROMACONS project in 2002-2009, Jackson and colleagues found an exceptionally rare mineral, aluminous tobermorite (Al-tobermorite) in the marine mortar. The mineral crystals formed in lime particles through pozzolanic reaction at somewhat elevated temperatures. The presence of Al-tobermorite surprised Jackson. "It's very difficult to make," she says of the mineral. Synthesizing it in the laboratory requires high temperatures and results in only small quantities.

Seawater corrosion

For the new study, Jackson and other researchers returned to the ROMACONS drill cores, examining them with a variety of methods, including microdiffraction and microfluorescence analyses at the Advanced Light Source beamline 12.3.2 at Lawrence Berkeley National Laboratory. They found that Al-tobermorite and a related zeolite mineral, phillipsite, formed in pumice particles and pores in the cementing matrix. From previous work, the team knew that the pozzolanic curing process of Roman concrete was short-lived. Something else must have caused the minerals to grow at low temperature long after the concrete had hardened. "No one has produced tobermorite at 20 degrees Celsius," she says. "Oh—except the Romans!"

"As geologists, we know that rocks change," Jackson says. "Change is a constant for earth materials. So how does change influence the durability of Roman structures?"

The team concluded that when seawater percolated through the concrete in breakwaters and in piers, it dissolved components of the volcanic ash and allowed new minerals to grow from the highly alkaline leached fluids, particularly Al-tobermorite and phillipsite. This Al-tobermorite has silica-rich compositions, similar to crystals that form in volcanic rocks. The crystals have platy shapes that reinforce the cementing matrix. The interlocking plates increase the concrete's resistance to brittle fracture.

This microscopic image shows the lumpy calcium-aluminum-silicate-hydrate (C-A-S-H) binder material that forms when volcanic ash, lime, and seawater mix. Platy crystals of Al-tobermorite have grown amongst the C-A-S-H cementing matrix. Credit: Marie Jackson.

Jackson says that this corrosion-like process would normally be a bad thing for modern materials. "We're looking at a system that's contrary to everything one would not want in cement-based concrete," she says. "We're looking at a system that thrives in open chemical exchange with seawater."

Modern Roman concrete

Given the durability advantages of Roman concrete, why isn't it used more often, particularly since manufacturing of Portland cement produces substantial carbon dioxide emissions?

"The recipe was completely lost," Jackson says. She has extensively studied ancient Roman texts, but hasn't yet uncovered the precise methods for mixing the marine mortar, to fully recreate the concrete.

"Romans were fortunate in the type of rock they had to work with," she says. "They observed that volcanic ash grew cements to produce the tuff. We don't have those rocks in a lot of the world, so there would have to be substitutions made."

She is now working with geological engineer Tom Adams to develop a replacement recipe, however, using materials from the western U.S. The seawater in her experiments comes from the Berkeley, California, marina, collected by Jackson herself.

Roman concrete takes time to develop strength from seawater, and features less compressive strength than typical Portland cement. For those reasons, it's unlikely that Roman concrete could become widespread, but could be useful in particular contexts.

Jackson recently weighed in on a proposed tidal lagoon to be built in Swansea, United Kingdom, to harness tidal power. The lagoon, she says, would need to operate for 120 years to recoup the costs incurred to build it. "You can imagine that, with the way we build now, it would be a mass of corroding steel by that time." A Roman concrete prototype, on the other hand, could remain intact for centuries.

Jackson says that while researchers have answered many questions about the mortar of the concrete, the long-term chemical reactions in the aggregate materials remain unexplored. She intends to continue the work of Pliny and other Roman scholars who worked assiduously to discover the secrets of their concrete. "The Romans were concerned with this," Jackson says. "If we're going to build in the sea, we should be concerned with it too."

More information: American Mineralogist, dx.doi.org/10.2138/am-2017-5993CCBY

Output: Researchers from the University of Utah have studied Roman concrete marine structures to find why they last for thousands of years and are stronger now than when they were first constructed while modern marine concrete structures crumble within decades. They found that the seawater filtered through the material adds cohesion and strength through interlocking minerals. Modern concrete is designed to be inert, while Roman concrete is more flexible and durable, giving it its longevity. The researchers are investigating how to replicate the ancient material today.


Instruction: create a high quality summary of the given input

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iZettle platform gains 1,000 businesses a day
 iZettle founder and CEO Jacob de Geer. iZettle

COPENHAGEN, Denmark — iZettle, the fast-growing Swedish payment terminal company, is signing 1,000 new businesses a day and seeing huge traction in the UK.

CEO and founder Jacob de Geer told Business Insider at the Money2020 conference last week: "We see our strongest growth in the UK, it's our biggest market."

iZettle makes a payment terminal that allows people to accept card payments using their smartphone or iPad. The company operates across 12 markets globally.

De Geer said: "If you look at growth, I think by now we take on roughly 1,000 small businesses per day, which I think is quite significant for a B2B [business-to-business] company, especially considering the restraints put on us by the regulator: having to adhere to know-your-customer directives, anti-money laundering regulation etc."

iZettle, founded in 2010, only has around 500 staff globally and de Geer says the company is able to onboard so many new customers thanks to investment in machine learning.

"Since day one, our core focus in terms of machine learning and AI went into onboarding," he said. "That has resulted in a process where we can automatically handle massive volumes of merchants across a multitude of markets wanting to take on our product."

De Geer added: "We've been iterating and developed out risk and onboarding platform over 7 years now. It's nothing that you just turn on or off. It's constant iteration with a lot of people involved."

Jack Dorsey, the cofounder of Twitter and rival payment terminal company Square, made a similar point about using AI for onboarding during his keynote speech at Money2020. Square recently launched in the UK, its first European market, but de Geer is unfazed by the competition.

iZettle's payment terminal. iZettle

"I think it will probably take them a while before they're fully up and running," he said. "Eventually, we'll definitely notice their presence. But this market is so big. 95% of all businesses are within our joint segment. So there's definitely room for more than one player."

De Geer is, however, worried about Brexit. He said: "We're equally worried about Brexit, as I would say most people in Britain are. I would say the problem for everybody, [is that] the consequences of Brexit are still up in the air. Nobody really knows what it will imply for the financial market. I would be surprised if you wouldn't try to limit the potential damage and outflow of everything from companies to capital. How that's going to be handled is beyond my knowledge."

iZettle's biggest priority at the moment is growth, both in existing markets it is in and potentially into new ones. De Geer said: "I think you will see expansion. The question is really when, whether it's this year or next. The most logical next place is somewhere in Europe where we can leverage our existing regulatory approvals. Europe is still heavily underserved from a small business perspective."

Output: Swedish firm iZettle has been signing up 1,000 small businesses a day to use its payment terminal, according to its CEO Jacob de Geer. iZettle lets people accept card payments with their smartphone or iPad. Its strongest growth has been in the UK, which is also the company's largest market. De Geer added that iZettle can rapidly onboard scores of new customers thanks to an investment in machine learning, meaning it can automatically handle a considerable volume of merchants across a range of markets.


Instruction: create a high quality summary of the given input

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BlackRock to buy Cachematrix as it widens use of Aladdin system
 Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York Thomson Reuters

BlackRock, the world's biggest asset manager, on Tuesday said it would buy a software company that helps businesses invest their cash, marking its second investment in a technology firm this month.

The investment giant with oversight of $5.4 trillion in assets will buy Denver-based Cachematrix Holdings LLC in a deal slated to close next quarter, according to a statement by both companies. Terms were not disclosed.

Cachematrix builds a software tool that banks can provide to corporate treasurers managing the cash and short-term debt they hold. Investments can be made in money-market funds provided by BlackRock and rival money managers, such as Fidelity Investments, Goldman Sachs Group Inc and Charles Schwab Corp.

Just last week, BlackRock said it would take a stake in Scalable Capital, a European digital investment manager.

The deals come two months after BlackRock Chief Executive Officer Larry Fink told Reuters he was considering up to four small acquisitions to shore up the New York-based company's technology and investment expertise.

Fink has placed an unusual emphasis on technology for a company in his industry, including through the company's Aladdin operating system for investment management, which it licenses to rivals.

The latest deal gives BlackRock a new stable of bank clients and pushes Aladdin further into the business of advising companies on how to invest their cash. In a statement, BlackRock said it plans to combine some of Cachematrix's features with Aladdin.

On its website, Cachematrix lists Bank of America Corp , Morgan Stanley and HSBC among its clients and reports assisting with $200 billion of client assets.

Banks trying to meet strict requirements intended to prevent another financial crisis have been looking to shed deposits that would require them to hold more capital. Businesses have been eager to find places to put cash as ultra-easy monetary policy has pushed yields on debt to historic lows.

BlackRock in 2015 expanded its reach in the business of managing large institutions' cash and short-term investments when it acquired the money-market fund business run by Bank of America. BlackRock's cash business included nearly $400 billion in assets at the end of March.

Output: BlackRock has said it will buy Cachematrix, a fintech firm whose software enables companies to manage their cash and short-term debt. The deal offers the world's biggest asset manager the opportunity to expand its Aladdin investment operating system to Cachematrix's client list – including Bank of America, Morgan Stanley and HSBC – for whom the Denver-based firm helps manage $200bn. Days earlier, BlackRock said it would acquire a stake in digital investment firm Scalable.


Instruction: create a high quality summary of the given input

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Give us access to driverless car data, say US insurers
 Property/casualty insurance carriers want future federal rules governing driverless vehicles to guarantee insurers “reasonable” access to data from cars with automated driving systems.

“The increasing automation of the driving function is likely to result in significant change for the auto insurance industry. To adapt to these changes and support innovation in transportation, insurers will need to have access to data and information regarding vehicles with automated driving systems,” Nathaniel Wienecke, senior vice president, federal government relations, for the Property Casualty Insurers Association of America said in a a recent letter submitted to the House Subcommittee on Digital Commerce and Consumer Protection, which held a June 27 hearing on self-driving vehicle legislation.

Wienecke said that insurers will need to be able to identify automated driving technology and the type of technology each vehicle has. This is critical, he said, “for insurers to develop historical loss data and innovate and price new insurance products to support the technology as it evolves.”

At the hearing, lawmakers debated whether to override state rules for testing and deployment of self-driving cars and to allow automakers and technology companies to bypass existing regulations in introducing autonomous cars.

PCI wants any eventual rules governing driverless vehicles to “provide for reasonable access to insurers for claims handling purposes.”

Wienecke added that in any accident involving a driverless vehicle, liability will likely depend on “whether a human driver or the vehicle itself was in control, and what actions either the driver or the vehicle did or did not take immediately prior to the loss event.”

Wienecke argued that having access to that data for insurers will help claims handling go more quickly and avoid disputes that could prevent accident victims from getting speedy compensation. Along those lines, Wienecke stated that PCI would back “clear identification of federal and state regulatory responsibilities regarding self-driving vehicles, with the federal government setting and enforcing safety standards for motor vehicles and recalls, and the states continuing to have primacy on motor vehicle insurance and liability issues as they do today.”

The debate over usage of the driving data already includes consumers, insurers, car makers and the creators of the telematics and other technologies used for autonomous vehicles. KPMG said in a recent report that “disaggregation from information” is a risk for insurers and could hamper how they participate in the future marketplace. Car makers themselves could decide to get into insurance business using the data.

Related to data access is data security. William C. Wallace, a policy analyst for Consumers Union, told federal lawmakers that consumers should know what data their car is collecting and transmitting, and who has access to this information. “They should be able to trust that companies are legally obligated to protect their privacy and the security of their data. This trust is important not just for consumers themselves, but also for the broader acceptance and successful deployment of active safety and automated driving systems across the marketplace,” Wallace said.

Related:

Topics Carriers Legislation Auto Data Driven

Output: Federal law should permit US insurers "reasonable access" to data from automated driving systems for claims handling purposes and to help with policy pricing, said Nathaniel Wienecke, senior vice-president of federal government relations at the Property Casualty Insurers Association of America (PCI). The data will be critical to defining historical loss, aiding innovation and pricing insurance products to support the technology as it evolves, Wienecke said. Additionally, data for insurers will accelerate claims handling and avoid disputes that prevent victims from receiving compensation quickly. PCI submitted the request within a letter to the House subcommittee on digital commerce and consumer protection.


Instruction: create a high quality summary of the given input

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Independence Day most dangerous summer holiday for US drivers
 The Fourth of July is the most dangerous of the three summer holidays for auto accidents, according to the Travelers Companies, Inc. According to the company’s personal insurance auto claim data from 2012 to 2016, there are 7 percent more auto accident claims over the Fourth of July and three days leading up to it, as compared to Memorial Day and Labor Day weekends.

“The Fourth of July is one of the busiest times on the roads, which means there are more drivers who may be distracted, tired or driving unfamiliar routes,” said Chris Hayes, second vice president of Risk Control Transportation at Travelers. “These situations combine to create a heightened risk for serious accidents, so it’s critical for drivers to be especially focused when behind the wheel.”

According to the Insurance Institute for Highway Safety, the Fourth of July holiday has ranked on average as the deadliest day for drivers for the past decade.

Before drivers set out to celebrate, Travelers recommends the following:

Perform scheduled maintenance and inspections. If the “check engine” light is on or you have been delaying scheduled maintenance, take your car in for service before your trip. Be sure to inspect the spare tire to make sure it’s in good condition.

Bring an emergency roadside kit. Stock your car with water and nonperishable food (like granola bars), a flashlight, a first-aid kit, jumper cables, reflective triangles, sunscreen, blankets, towels and road flares.

Preview the route. Familiarize yourself with the route before leaving. Relying solely on GPS can lead to distracted driving, which may result in dangerous last-minute turns and lane changes.

Avoid distractions. Everything that occupies your mind or affects your vision can contribute to distraction behind the wheel. Concentrate on the road and avoid distractions such as eating, reading maps, operating a GPS or using a cellphone.

Take breaks. When traveling long distances, it’s important to rest to help maintain focus and avoid fatigue.

Never drink and drive. Have a plan if you choose to consume alcohol, whether it’s using a designated driver, ride-sharing or public transportation.

Source: Travelers

Output: Some 7% more car accident claims are made in the US between 1 and 4 July compared with Memorial Day and Labor Day weekends, according to the Travelers Companies. Roads are at their busiest on Independence Day, so there are more drivers who are distracted, tired or driving unfamiliar routes, said Chris Hayes, second vice-president of risk control transportation at Travelers. The day has ranked as the deadliest for drivers for the past decade, according to a separate study from the Insurance Institute for Highway Safety.


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Marijuana legalisation blamed for car-crash claim surge
 Legalizing recreational marijuana use in Colorado, Oregon and Washington has resulted in collision claim frequencies that are about 3 percent higher overall than would have been expected without legalization, a new Highway Loss Data Institute (HLDI) analysis shows. This is HLDI’s first report on how marijuana legalization since 2014 has affected crashes reported to insurers.

More drivers admit to using marijuana, and it is showing up more frequently among people involved in crashes. Though there is evidence from simulator and on-road studies that marijuana can degrade some aspects of driving performance, researchers haven’t been able to definitively connect marijuana use with more frequent real-world crashes. Some studies have found that using the drug could more than double crash risk, while others, including a large-scale federal case-control study, have failed to find a link between marijuana use and crashes. Studies on the effects of legalizing marijuana for medical use also have been inconclusive.

Colorado and Washington were the first states to legalize recreational marijuana for adults age 21 and older with voter approval in November 2012. Retail sales began in January 2014 in Colorado and in July 2014 in Washington. Oregon voters approved legalized recreational marijuana in November 2014, and sales started in October 2015.

HLDI conducted a combined analysis using neighboring states as additional controls to examine the collision claims experience of Colorado, Oregon and Washington before and after law changes. Control states included Idaho, Montana, Nevada, Utah and Wyoming, plus Colorado, Oregon and Washington prior to legalization of recreational use. During the study period, Nevada and Montana permitted medical use of marijuana, Wyoming and Utah allowed only limited use for medical purposes, and Idaho didn’t permit any use. Oregon and Washington authorized medical marijuana use in 1998, and Colorado authorized it in 2000.

HLDI also looked at loss results for each state individually compared with loss results for adjacent states without legalized recreational marijuana use prior to November 2016.

Data spanned collision claims filed between January 2012 and October 2016 for 1981 to 2017 model vehicles. Analysts controlled for differences in the rated driver population, insured vehicle fleet, the mix of urban versus rural exposure, unemployment, weather and seasonality.

Collision claims are the most frequent kind of claims insurers receive. Collision coverage insures against physical damage to a driver’s vehicle in a crash with an object or other vehicle, generally when the driver is at fault. Collision claim frequency is the number of collision claims divided by the number of insured vehicle years (one vehicle insured for one year or two vehicles insured for six months each).

“The combined-state analysis shows that the first three states to legalize recreational marijuana have experienced more crashes,” says Matt Moore, senior vice president of HLDI. “The individual state analyses suggest that the size of the effect varies by state.”

Colorado saw the biggest estimated increase in claim frequency compared with its control states. After retail marijuana sales began in Colorado, the increase in collision claim frequency was 14 percent higher than in nearby Nebraska, Utah and Wyoming. Washington’s estimated increase in claim frequency was 6 percent higher than in Montana and Idaho, and Oregon’s estimated increase in claim frequency was 4 percent higher than in Idaho, Montana and Nevada.

“The combined effect for the three states was smaller but still significant at 3 percent,” Moore says. “The combined analysis uses a bigger control group and is a good representation of the effect of marijuana legalization overall. The single-state analyses show how the effect differs by state.”

Each of the individual state analyses also showed that the estimated effect of legalizing recreational use of marijuana varies depending on the comparison state examined. For example, results for Colorado vary from a 3 percent increase in claim frequency when compared with Wyoming to a 21 percent increase when compared with Utah.

HLDI’s new analysis of real-world crashes provides one look at the emerging picture of what marijuana’s legalization will mean for highway safety as more states decriminalize its use. In the coming years, more research from HLDI and others will help sharpen the focus. As HLDI continues to examine insurance claims in states that allow recreational use of marijuana, IIHS has begun a large-scale case-control study in Oregon to assess how legalized marijuana use may be changing the risk of crashes with injuries. Preliminary results are expected in 2020.

In addition to Colorado, Oregon and Washington, five other states and Washington, D.C., have legalized marijuana for all uses, and 21 states have comprehensive medical marijuana programs as of June. An additional 17 states permit limited access for medical use. Marijuana is still an illegal controlled substance under federal law.

“Worry that legalized marijuana is increasing crash rates isn’t misplaced,” says David Zuby, executive vice president and chief research officer of the Insurance Institute for Highway Safety. “HLDI’s findings on the early experience of Colorado, Oregon and Washington should give other states eyeing legalization pause.”

Source: HLDI

Output: The legalisation of marijuana has been blamed for a surge of car-crash insurance claims in the US states of Colorado, Oregon and Washington, according to a Highway Loss Data Institute (HLDI) analysis. Figures indicate that crash claim frequencies were about 3% higher overall than would have been forecast if the drug had not been legalised. It was the first HLDI report on how marijuana's legalisation since 2014 has affected collision claims reported to insurers.


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Token sale for blockchain operating system EOS raises $185m
 block.one, the developer of EOS.IO software, a new blockchain operating system designed to support commercial-scale decentralized applications, today has successfully received 651,902 ether (ETH), which is approximately USD $185 million, in the first five days of its 341-day long token distribution.

In exchange, 200 million EOS ERC-20 compatible tokens (EOS Tokens) were distributed to purchasers (representing 20% of the total one billion EOS tokens being distributed).

The distribution uses a token participation model by creating what is intended to be the “fairest” token distribution project launched on Ethereum to date. This extended timeframe eliminates the quick craze usually surrounding short token sales and allows the community ample time to learn about the EOS.IO software being developed by block.one and participate in the token distribution if they wish.

The EOS token distribution also approximates an auction where for every period, everyone gets the same price. At the end of a period, the respective set number of EOS Tokens for that period will be distributed pro rata amongst all authorized purchasers, based on the total ETH contributed during that period.

Note, one exchange where EOS token is available is at BKEX.

“We felt an approximately year-long token distribution was the best method to ensure people receive fair market value for EOS tokens. We anticipate that strong interest will continue throughout the year as the community continues to learn about the EOS.IO software and the benefits it can bring to their business.”

– Brendan Blumer, CEO of block.one

Many corporations are looking for a blockchain that provides the speed and performance required in order to run commercial-grade businesses. The EOS.IO software introduces asynchronous communication and parallel processing to support hundreds of thousands of transactions per second.

The software on which EOS’s architecture is based establishes an operating system-like construct upon which applications can be built and eliminates the requirement for users to pay for every transaction.

The software is intended to allow developers to build their own high-performance applications on the blockchain and deploy their own monetization strategies without requiring users to necessarily pay to use those applications.

block.one intends for the EOS.IO software to support distributed applications that have the same look and feel as existing web-based applications, but with all of the benefits of the blockchain – namely transparency, security, process integrity, speed, and lower transaction costs.

Full details about the EOS token distribution including all terms and conditions can be found at eos.io and more information about the EOS.IO software can be found in the technical white paper.

Output: Block.one, the developer of decentralised blockchain operating system EOS.IO, has raised $185m in five days. The company received 651,902 ether at the outset of its 341-day token distribution. In return, buyers received a share of 200 million EOS ERC-20 compatible tokens. The token distribution model is intended to be the fairest launched on Ethereum to date, with the extended timeframe allowing the online community to learn about EOS.IO software and join the token distribution if they want. It also eliminates the quick craze mentality of short token sales. EOS.IO is designed to support commercial-scale decentralised applications.


Instruction: create a high quality summary of the given input

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IBM Watson to expand its AI service into Mexican healthcare
 IBM Watson has sealed its first deal in Latin America, agreeing to install its AI across the biggest private healthcare institution in Mexico.

The Grupo Ángeles Servicios de Salud comprises 28 hospitals across the country, including 10 in the Mexico City area.

The deal specifically refers to Watson for Oncology – a version of Watson that aims to better inform cancer treatment decisions.

It does so by drawing on over 300 medical journals, 200 textbooks, and nearly 15 million pages of text to determine patterns in treatment success in relation to specific types of cancer.

The system can then use these insights to rank the most suitable treatment options for each patient, ultimately providing more evidence-based cancer treatment decisions to oncologists.

“Our vision with Watson for Oncology is to enable physicians to focus on delivering patient-centric cancer care helping oncologists and institutions to deliver next generation cancer care at scale and reduce unnecessary treatment variability through evidence-based treatment recommendations" said Juan Hoyos, Watson Health Executive Leader, IBM Latin America. “We are proud to be working with hospitals and health organisations like Ángeles to give access to cognitive computing tool into the hands of physicians worldwide.”

Mexico is the latest market for IBM Watson to venture into. It has already struck several deals in the US, Europe and Far-East Asia as it continues to drive the AI-adoption era.

It recently extended its presence in China through a partnership with Bahael Pharmaceutical Group. Its Watson for Genomics platform will be available to clinicians and researchers across the country.

It has also gone some way toward addressing concerns over its technology’s effectiveness. At the recent ASCO Annual Meeting, data suggested that Watson for Clinical Trial Matching reduced trial screening time by 78%. Watson for Oncology also matched tumour board recommendations in up to 96% of cases.

In a study carried out in Mexico, oncologists found Watson for Oncology to be useful in helping identify potential treatment options for patients, particularly in subspecialist clinics, and for training medical students.

Output: IBM Watson will provide Mexico's biggest private healthcare provider, the Grupo Ángeles Servicios de Salud, with artificial intelligence to inform cancer treatment decisions. Watson for Oncology will draw from more than 300 journals, 200 textbooks and almost 15 million pages of text to identify the success of different types of treatment in relation to specific types of cancer. By providing evidence-based treatment, Watson for Oncology will enable physicians and institutions to "reduce unnecessary treatment variability", said Juan Hoyos, Watson Health executive leader, IBM Latin America.


Instruction: create a high quality summary of the given input

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BitFlyer to offer failed transaction insurance to retailers
 TOKYO -- Japanese bitcoin exchange bitFlyer will partner with Mitsui Sumitomo Insurance to offer merchants a way to receive compensation for failed transactions involving the virtual currency.

The insurance package rolling out Friday will be the first of its kind in Japan. The offering from the Tokyo cryptocurrency exchange and the MS&AD Insurance Holdings Group unit will cover damages if a customer payment does not go through correctly due to system problems or other issues.

Output: Tokyo-based bitcoin exchange bitFlyer is partnering with Mitsui Sumitomo Insurance to ensure merchants receive compensation for failed customer payments involving the virtual currency. By protecting against losses caused by system problems and other issues, bitFlyer intends to accelerate merchants' adoption of bitcoin as a payment method. The insurance package will be the first of its kind in Japan, with Coincheck, another Tokyo-based virtual currency exchange, soon to offer a similar insurance product in partnership with Tokio Marine & Nichido Fire Insurance.


Instruction: create a high quality summary of the given input

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Lawyers seek to retain EU environmental regulation post-Brexit
 A taskforce of environmental lawyers is drawing up plans to stop thousands of EU rules protecting rivers, wildlife, coastlines and air quality from being dropped by the government after Brexit.

The EU is the source of most environmental protection in Britain and for 40 years has acted as a monitoring body and enforcer, with powers to fine member states for breaches in the law.

But the process of transferring EU laws, directives, regulations and principles – such as the “polluter pays principle” – into UK law under the government’s great repeal bill presents huge challenges, environmental lawyers say. There are fears that the complexity and scale of the work, and political resistance to European regulations will mean key protections are lost during the rollover into domestic legislation.

Richard Macrory, professor of environmental law at University College London, is leading the taskforce of lawyers. He said: “The last thing we want to find in Britain are a whole lot of legal gaps in the protections. The rollover [in the repeal bill] is going to be straightforward in some areas and more challenging in others. And in some areas unless there are particular agreements made with the EU it is going to be not at all easy.”

His team is made up of members of the UK Environmental Law Association (Ukela).

More than 1,100 pieces of EU legislation relate to the environment. These include chemicals regulation, marine and coastal policies, laws on noise pollution, the quality of our soil, waste and recycling, air quality, climate change and the protection of species.

One of the key areas Brussels has been responsible for over the last 40 years is enforcement of legislation through the European commission and the court of justice of the European Union – where proceedings against member states who have failed to comply with their obligations can be taken.

After Brexit there will be no equivalent monitoring and enforcement body which has powers to levy fines to make sure the UK government abides by environmental protections.

Macrory said most cases brought before the commission in the past had involved the environmental sector.

“One of the most important functions of the EU has been to supervise how member states implement their obligations,” he said. “These processes apply to all areas of law but the majority of cases have been brought in the environmental sector. There is a reason for that. In most areas of law there are very clear economic and legal interest groups who will protect their rights.”

But he said the environmentwas unowned and, quoting the veteran environmental lawyer Ludwig Krämer, added: “The environment dies in silence.”

Ministers told the House of Lords this year that the enforcement role could be carried out by UK courts via judicial reviews raised by NGOs or individuals. But Macrory said these were costly and complicated.

“So will something be replicated here after Brexit?” he said. “The government response to date has been rather unimaginative and minimalist – they say we can rely on judicial reviews brought by NGOs.

“We will question whether relying on judicial review is a sufficient substitute for a more systematic and independent supervisory function performed by the commission.”

He compared taking a judicial review – which costs as a minimum thousands of pounds – with a citizen complaint, which an individuals can take to the European commission for the price of a stamp if they believe their government has not upheld environmental protections or broken laws relating to the environment.

Sarah Mukherjee, director of environment for Water UK, which represents all water companies, recently told a Lords inquiry on the impact of Brexit on the environment, it was the ability to impose financial sanctions – something the British supreme court could not do – which focused government’s mind.

“Governments pay a lot of attention to the risk of being infracted because it is very expensive and it is not brilliant for your reputation,” she said.

The Lords EU committee on Brexit: environment and climate change concluded in its inquiry that judicial reviews in domestic courts would not amount to a sufficient enforcement body.

Peers said: “The evidence … strongly suggests that an effective and independent domestic enforcement mechanism will be necessary in order to fill the vacuum left by the European commission … such enforcement will need to be underpinned by judicial oversight and we note the concerns.. That existing domestic judicial review procedures may be inadequate and costly.”

Macrory and his team will publish five reports on key areas of EU law and governance which must be retained in British law or replicated in the coming weeks.

Output: Environmental lawyers in the UK are establishing a taskforce to prevent EU environmental protection legislation being discarded after Brexit. The taskforce is being led by Richard Macrory, professor of environmental law at University College London. At present, over 1,100 pieces of EU legislation, relating to issues such as chemical regulation, marine and coastal policies, noise and air pollution, waste and recycling, soil quality, climate change and conservation, pertain to UK environmental protections. The taskforce will publish five reports highlighting central aspects of EU law and governance which must be retained or replicated in UK law.


Instruction: create a high quality summary of the given input

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Noise pollution linked to male fertility problems
 You don’t have to live under a flight path or next to a nightclub to be bothered by noise. Surprisingly low levels of noise – above 55 decibels (the equivalent of light traffic or an air conditioner) – especially at night is not only annoying but detrimental to health. Noise pollution is, warns the World Health Organization, a growing hazard, second only to air pollution in its ill effects. It is obviously linked to sleep disturbance but also to heart attacks, tinnitus, strokes and even obesity.

Noise has also been associated with increases in premature births and miscarriages, and this week its ill effects were extended to reducing male fertility. A study, in the international journal Environmental Pollution, of 206,492 men in South Korea found that being exposed to noise levels of more than 55 decibels for four years, especially at night, was associated with an increase in fertility problems. When the authors of the study compared postcodes and the noise associated with them to fertility (as measured by the quality of semen samples) they found an increase in infertility for each 10 decibels of noise above 55 decibels. The researchers tried to factor in other things that affect fertility, such as age, exercise, smoking, drinking, blood sugar, weight and medical history. But the design of the study meant they couldn’t collect information on genetic factors or exposure to other things, such as chemicals that could also reduce fertility.

The solution

The research reinforces previous studies showing that listening to constant noise, even at a low level, can activate the body’s stress response, disrupting the normal control of sex hormones. Cortisol, released when you are irritated by constant noise, produces hormones which work in a feedback loop to lower levels of testosterone. This can reduce both the number of sperm and their mobility. Another study of men working in noisy conditions (119 decibels, which is louder than a police siren) also found lower testosterone levels and fewer, less mobile sperm.

But fertility problems have many causes, and the studies so far have limitations – and can only hint at an association. Any effect is likely to be very small. A study four years ago, linking aircraft noise with strokes and heart problems, caused concern but, as with this latest study, it could not rule out other factors that increase risk. Yet there is a plausible mechanism for the effects of noise on our health: noise triggers our stress pathway, and the link between levels of more than 55 decibels and a rise in blood pressure is one of the more solid associations.

How can you have less noise? You can try earplugs, heavy curtains or triple glaze your bedroom windows.

Output: Noise pollution can reduce male fertility, according to research in South Korea. The study of 206,492 men discovered that exposure to noise levels of over 55 decibels for four years, particularly at night, increased fertility difficulties. Although the study factored in variables including age, blood sugar, drinking, exercise, medical history, smoking and weight, it was unable to incorporate genetic factors and exposure to other fertility damaging agents such as chemicals. The study supports earlier research suggesting that the stress of constant noise produces hormones that reduce testosterone levels. Noise pollution has also been linked to heart problems, obesity and strokes.


Instruction: create a high quality summary of the given input

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GSK partners with AI start-up for drug research and development
 Scottish AI start-up Exscientia has signed a lucrative deal with a second pharmaceutical giant, as the benefits of artificial intelligence in drug research become apparent

In evidence of the growing interest in using artificial intelligence (AI) as a means to speed up drug development, only July 2, pharmaceutical giant GlaxoSmithKline (GSK) unveiled a new $43m deal with Scotland-based AI start-up Exscientia.

In a statement discussing the deal, Andrew Hopkins, CEO of Exscientia said: “This alliance provides further validation of our AI-driven platform and its potential to accelerate the discovery of novel, high-quality drug candidates.”

Interest in AI start-ups from big pharmaceutical companies has heated up as the application of relatively new software techniques to narrow down the list of potential candidate molecules for new drugs becomes apparent. Accordingly, this is the second such deal Exscientia has signed in recent months, having partnered with Sanofi in May.

Until recently, pharmaceutical research has relied on software that checks if any molecules fit a drug profile written by chemists

AI cuts down the initial process of selecting molecules to take through further trial stages by using algorithms trained to sift through huge masses of data detailing the chemical profiles of molecules, and develop rules detailing the profile of a molecule that may make a suitable drug.

Until recently, pharmaceutical research has relied on software that checks if any molecules fit a drug profile written by chemists, or has used simulations to predict useful structures. Now, techniques such as deep learning use algorithms trained on massive data sets to develop their own sets of rules that evolve as more data is added.

This new type of drug discovery has been made possible by rapid improvements in the sophistication of machine learning techniques, but also by the collection of genetic information on a level not previously possible, creating banks of data for use as training sets.

Hopkins said in his statement that using these methods had allowed Exscientia to reduce the time taken to find molecules to take to further trial stages to around a quarter of the time, for a quarter of the cost, compared to traditional methods.

In a statement discussing the partnership, John Baldoni, Senior Vice President at GSK, said he hoped the partnership would “accelerate the discovery of new molecules against high value GSK targets with speed and without compromising quality”.

Big pharmaceutical companies are following in the footsteps of AI start-ups, who have recently woken up to the potential uses of their software as a drug detection tool, other start-ups working in this field include Deep Genomics, UK firm Benevolent AI, and Calico, an Alphabet subsidiary.

Under the deal, Exscientia will receive research funding from GSK to undertake drug-finding missions for 10 ‘target’ diseases, with the full £33m ($43m) amount paid on successful delivery of preclinical drug candidates for all 10 targets.

Output: GlaxoSmithKine has signed a deal for $43m with Scottish AI start-up Exscientia. The partnership is focused on deploying artificial intelligence (AI) to expedite drug development. Big pharmaceutical companies have grown increasingly interested in AI start-ups because advancements in machine learning techniques have facilitated the efficient profiling of potential candidate molecules for new drugs. This is the second such deal that Exscientia has entered into in 2017, following its partnership with Sanofi in May.


Instruction: create a high quality summary of the given input

Input:
Redrow Vanda Murray to join company as non-executive director
 Vanda Murray will join the board of housebuilder Redrow as a non-executive director from 1 August.

Murray has extensive non-executive director experience. She is currently chairman of Fenner, the leader in reinforced polymer technology, and holds roles with outsourcing firm Bunzl, Manchester Airports Group and Just Childcare. She is also pro-chancellor and chairs the board of governors at Manchester Metropolitan University and is a board member of the Manchester Growth Company.

In her executive career, was the chief executive of Blick, a quoted support services group, prior to its acquisition by The Stanley Works in 2004. She also ran roofing products business Ultraframe, overseeing a turnaround before its sale to Latium Group Holdings in 2006. She has previously held non-executive directorships at Carillion, Exova and Microgen.

Redrow also announced that Liz Peace, non-executive director, will retire from the board at the end of her current appointment on 31 August following her appointment by London Mayor Sadiq Khan as chairman of the Old Oak & Park Royal Development Corporation.

Steve Morgan, Redrow chairman, said: “I am pleased to welcome Vanda to Redrow. As well as her broad non-executive credentials, she brings strong experience as a listed company director. I am sure that she will add considerable value to our board and we look forward to working with her.

“On behalf of the board, I would like to thank Liz for her valuable contribution during her tenure, and wish her all the best in her new role at Old Oak & Park Royal Development Corporation and for the future.”

Output: Vanda Murray is set to join the board of Redrow as a non-executive director from 1 August. She currently sits as chairman of Fenner, a leading manufacturer of reinforced polymer-based products, and holds positions with Manchester Airports Group, Just Childcare and outsourcing firm Bunzi.


Instruction: create a high quality summary of the given input

Input:
Deepwater Corrosion Services explores improved cathodic protection
 Deep-water cathodic protection largely relies on sacrificial anodes. Such consumables draw corrosion to a specified location, thereby preserving the integrity of steel assets.

But due to the persistent nature of corrosion, the protected structures must be tested at intervals to ensure the anodes are still drawing the corrosion away from the steel, and depleted anodes must be replaced periodically.

“Everything that goes in needs cathodic protection,” Matthew Taylor, head of science and technology at Deepwater Corrosion Services, says.

Designing a better cathodic protection system from the beginning of a project’s life means preventing rust issues down the line, reducing life extension costs, improving the ability to monitor, and reducing repair costs as well as potentially extending the life of the asset, according to the company.

Everything that goes in needs cathodic protection. Matthew Taylor, Deepwater Corrosion Services

Article continues below the advert

Output: Corrosion control firm Deepwater Corrosion Services plans to cut the costs of protecting cathodes by providing a better-designed, more efficient system. Cathodic protection is often seen as a retrospective issue rather than something to be planned for, which leads to shortened equipment lifespan. Deepwater Corrosion Services’ proposal is for a “plug and play” system that is a simple cathodic protection stab and anode sled, which offers monitoring abilities and easier installation than current methods.


Instruction: create a high quality summary of the given input

Input:
Fears grow that cholera in South Sudan could get out of control
 Doctors, aid workers and officials in South Sudan are warning of a “devastating” outbreak of cholera that could kill thousands of people in a country where millions are already threatened by famine.

More than 2,500 cases of the disease have been registered since April, a sharp increase over previous months. The total over the last year has now risen to 8,000, with about 250 confirmed deaths. Experts say this is likely to be only a fraction of overall toll.

With no sign that conflict in the world’s youngest country will abate soon, and with the population weakened by years of displacement and malnutrition, there are fears that cholera could spread out of control.

Medical staff fear an outbreak in hospitals. There are few functioning medical institutions in South Sudan and these often care for three or four times the number of patients they were designed to accommodate.

At al-Shabbah children’s hospital in Juba, where a single bed is shared between three patients, three cases of suspected cholera were reported last week. “The fear is that such an infectious disease in this very overcrowded hospital could be devastating. The children are very weak and we don’t have enough drugs. The demand is huge,” said Dr Felix Nyungura, director of the hospital.

More than 200,000 people are living in “protection of civilian camps” set up by the UN to provide a haven for those displaced by the ongoing fighting across much of South Sudan. They too are threatened by the disease, which can kill in hours.

“Last year we had cholera incidents in the camp and now the rainy season is here cholera is the big concern,” said Thomas Makur, an administrator of a camp where more than 30,000 people live adjacent to the principal UN base in Juba, the capital.

People displaced by recent fighting are at most risk. The international NGO Médicins Sans Frontières has opened a cholera treatment centre near Pieri in the remote north-east of South Sudan.

More than 27,000 people have fled their homes in the region since mid-February after clashes between the Sudan People’s Liberation Army (SPLA) and opposition groups.

Last week the UN said the number of people struggling to find enough food each day in South Sudan had grown to 6 million – up from 4.9 million in February. This was the highest level of food insecurity in the country since it gained independence from Sudan in 2011 after decades of intermittent conflict.

Though South Sudan has suffered drought, the crisis has political rather than climatic causes. Violence surged last year after a peace deal between President Salva Kiir and his rival Riek Machar collapsed. Machar has now fled the country, but groups loyal to him continue to fight government forces. The government’s authority is limited, with widespread and increasingly chaotic conflict between local factions, cattle raiding and armed robbery.

Almost all protagonists in the fighting have been repeatedly accused of systematic and extensive human rights abuses.

There is a strong ethnic dimension to the violence, with civilians frequently targeted because of their tribe. Kiir and Machar come from rival ethnic groups. Civilians who have fled the violence to neighbouring countries say government troops, mostly drawn from Kiir’s Dinka tribe, carry out killings and other crimes against Machar’s Nuer and other smaller tribes suspected of supporting rebels.

A UN report last year described evidence of widespread atrocities against civilians including massacres, gang rape, abduction of children, unlawful detention and torture. The government has rejected its findings.

Senior UN officials say the combination of violence, ethnic strife, lack of development, climatic factors and international neglect in South Sudan is unmatched anywhere in the world.

“There are dead ends all around … I think we can still do something but we desperately need international pressure on the parties to go back to the table and be serious about peace,” Filippo Grandi, the head of the UN high commission for refugees, said last week.

Aid workers were struggling to raise funds, partly because of frustrations over the lack of progress in peace talks and partly because the scale of the problem was hidden, Grandi said during a visit to Juba.

“They [South Sudan’s refugees] don’t arrive on the shores of Europe, or Australia or at the border between Mexico and the US. Those are the places where refugees become visible and their voices are heard,” he said.

In an interview with the Guardian, David Shearer, the top UN official in South Sudan, underlined the logistical problems of operating in the country.

“No one quite realises the logistical hassles of this place. You can’t even move around. Travelling the 600 miles … takes two and a half weeks. In the wet season the roads are just impassable. There are 220 kilometres of tarmac roads in a country the size of France,” Shearer said.

More than 2 million people have fled South Sudan, with more than a million now living in neighbouring Uganda.

Output: War and famine-ravaged South Sudan could be hit by a devastating cholera outbreak as the rainy season looms, with more than 2,500 cases having been reported since April, a sharp increase on previous months. The country, which has been riven by fighting between the Sudan People’s Liberation Army and opposition groups, has seen at least a million people flee to neighbouring Uganda, while 200,000 people live in camps set up by the UN. "The fear is that such an infectious disease in an overcrowded hospital could be devastating," said Dr Felix Nyungura, of al-Shabbah children’s hospital in Juba.


Instruction: create a high quality summary of the given input

Input:
Antwerp participates in shipping container blockchain trial
 Europe’s second largest container port, Antwerp, is introducing a blockchain pilot which can release containers faster as well as more securely and efficiently. Working with start-up T-Mining, Antwerp uses blockchain technology to reflect the many processes which involve:

shippers

carriers

terminals

forwarders

hauliers

drivers

Securely digitised, every transaction and interaction is recorded as a block on the blockchain. This does not involve any central middleman removing the opportunity for fraud.

Nico Wauters, CEO of T-Mining said: “We aim to do something about this. We have developed a very secure solution. Currently, when we want to transfer a valuable object we generally make use of a trusted intermediary to carry out the transfer. For instance, when you want to sell a house the notary not only carries out all the paperwork but also ensures that the money lands safely in your bank account while the buyer receives full title to the property, without any unpleasant surprises for either party. But this intermediary naturally does not work for free, and furthermore the additional step causes extra delay.”

The problem the blockchain pilot tries to solve

Transporting a container from point A to point B frequently involves more than 30 different parties (see above) who may be located across continents, never mind countries. There are an average of 200 interactions between the parties which execute across multiple time zones. In addition, the five largest container ships can now carry over 20,000 TEU (twenty-foot equivalent units) containers.

Participants execute many of their interactions by e-mail, phone and even (still) by fax. Paperwork accounts for up to half of the cost of container transport. Each shipping company and container port have their own container management solution. A lot of money is spent each year maintaining the integration between these systems. There is also a need to integrate with the customs systems run by governments around the world. This adds up and becomes a complex problem which exposes containers to loss, thievery or misuse. What allows containers to be lost or used by criminal enterprises? The complexity of the paper chain. Blockchain offers an irrefutable digital footprint around each container.

Changing the economics

A different way to assess this is to examine the Maersk interest in blockchain. Maersk, as one of the world’s top shipping companies, seeks competitive advantage. It wants to reduce the time taken to process containers and simplify the paper chain. Blockchain creates a secure system where access can be restricted to limit the risk of criminals identifying and targeting containers. Each containers blockchain ID is updated as it is moved. This means that there is a highly trusted record of where the container is.

Importantly, it is not possible to alter a block on the chain as that would invalidate every block dependent upon it. This means that fraudsters and hackers cannot go back into the history of a container and make it ‘disappear’.

As Maersk is doing and Antwerp is piloting, blockchain offers an irrefutable digital footprint around each container. As a secure system access can be restricted to limit the risk of criminals identifying and targeting containers. Each container’s blockchain ID is updated as it is moved. This means that there is a highly trusted record of where the container is.

This is not the only project where a port is looking at blockchain. In Dubai the government has set out a blockchain plan for Dubai Customs and Dubai Trade. It is also expanding its plans to include banks, shipping companies and airlines. It expects this to speed up the transit of containers through the country and deliver massively cost reductions.

Antwerp port

With an annual volume of more than 208 million tonnes of maritime freight handled, the presence of the largest petrochemical cluster in Europe and extensive storage capacity, the Port of Antwerp is the largest integrated maritime, logistics and industrial platform in Europe.

The port accommodates the largest of container ships, the so-called Ultra Large Container Ships (ULCS). At its Deurganckdock, Antwerp can serve container vessels with a draught up to 16.0 metres travelling up-river and 15.2 metres down-river. Every terminal has a tri-modal access. This delivers fast and efficient barge, rail and road transport to and from the European hinterland.

The port possesses a modern infrastructure, facilities and equipment. Semi-automated operations and highly trained personnel contribute to productivity of up to 40 crane movements per hour per crane on average. This, Antwerp claims, is by far the highest productivity in Europe. These container terminals implement high standards of security and control, hence the blockchain interest. With more control comes less ‘wastage’ (or avoidable costs, whether criminal participation or bureaucracy.

The T-Mining approach in Antwerp

T-Mining is an Antwerp start-up. It has developed a solution for the widely recognised problem summarised above (though ET does not know which variant of the technology T-Mining chose – which may yet matter as the concluding section below describes).

When a container arrives in Antwerp’s port a truck driver collects it from the terminal. The appropriate person requires a PIN code to ensure he or she picks up the correct container. But several parties may receive this PIN code. This is a risk. Somebody with malign intentions can copy the PIN code. If this happens the consequences will cause problems and costs.

The Antwerp port blockchain solution overcomes these issues. It enables safer and faster transfer of valuable objects, digitally and without a middleman. With the T-mining blockchain platform, the right truck driver receives clearance to collect one particular container. There is no possibility of the process being intercepted. Furthermore, the T-Mining blockchain platform exploits the distributed network so that a transaction can go ahead only if there is consensus among all participating parties. This prevents attempts at fraud or undesired manipulations.

The pilot project is currently running in the port of Antwerp albeit with a limited number of parties. The intention is to test whether all works smoothly in practice before expanding. Thanks to involvement by the City of Antwerp there is a link to an office in Singapore.

What does it mean?

Conceptually, what Antwerp is doing with T-Mining and blockchain makes sense. All the problems described are common to the ‘container industry’ with its many and geographically diverse participants. Yet there are so many other competing initiatives originating in different parts of the container value chain. For example, ET alone has written about Dubai, Bogotá and SEB (as well as Maersk) and their use of blockchains in this arena.

The are several apparent conclusions to draw:

everyone seems agreed blockchain is the solution

no-one has spent much time on blockchain interoperation (what some might called ‘hybrid-blockchain)– even if many solutions will compete.

If blockchains interoperate there will not be a problem. But this requires proof. There are many unanswered questions about interoperability between blockchain projects on the same platform. In addition we are only just seeing the two main blockchain initiatives, Hyperledger and Ethereum, looking at interoperating with each other.

Blockchain solutions for the shipping industry will start by competing. The likes Dubai or Antwerp hope to gaining competitive advantage. But if every customer and shipper has to work with multiple different blockchains, which don’t interoperate they will, quite reasonably, resist. Expect the coming years to:

show that blockchain technology can deliver

demonstrate that multiple, incompatible blockchains frustrate (namely cost reduction and competitive advantage).

open up the debate about what ‘hybrid-blockchain’ means and what it might look like.

.

Output: The port of Antwerp is taking part in a blockchain pilot in an effort to make the handling of containers quicker, more secure and more efficient. In partnership with start-up T-Mining, Europe's second-biggest container port will use blockchain technology to support shippers, hauliers, drivers and other processes. Each mutually-agreed transaction is digitised and recorded on the blockchain, removing the need for a central intermediary, and eradicating any prospect of fraud.