Hello, you may know me from DD posts about IVZ and 3DP. I'm still heavily in these. But today I bring you SBW.
Ok for real, this might be the laziest DD you've read because it was copy pasted direct from hotcopper. But it will also be the best DD you've read (no offence to u/bigjimbeef recent DD on this but he's always drunk and while his DD did get me interested in this, I think maybe some people didn't take his post seriously because the post read like he had a beer in one hand and his dick in the other).
But I've been thinking lately... wouldn't it be nice if I could, for once, jump on a stock, before it rockets? Like... Every stock I've been in so far has holders who are already 10 bagging. How do they find these stocks and how can I become one of them?
Well, here is your chance. Full disclosure, I'm in at 26.5c, closing price today is 24.5c. It IPOd at 35c so we are still at bargain prices. No rocket yet. If you can think of a reason not to buy, please say so, before I take a larger position tmw morning, as I am trying to keep myself from getting overly keen on yet another stock but so far I can't find a good reason to put money anywhere else.
Copy pasta below:
I thought it was about time that I made the “Ultimate Guide to SBW” and consolidated months of research and analysis into one comprehensive post. Then we can add bits to it from there as more positive news develops.
Let us start with capital structure.
Capital Structure and Why This Is Important!
There are currently 139 million shares on issue, sitting at a price of 32 cents.
This gives a Market Capitalization of approximately ~45 million AUD.
Keep this in mind when we discuss partners and peers later - it’s arguably a more important metric than share price.
The Top 20 shareholders of SBW (which includes key management as the Top 2 holders) have about 90% of the stock on issue. The interests of management are well-aligned with shareholders.
What does this mean in plain English? It means management are extremely incentivized to perform, and are not just idly sitting by collecting an easy paycheck like so many other ASX companies. They have as much at stake as you do! Probably more.
The Core Business
The core business is a profitable operation which has been selling weighing systems to both retail and healthcare sectors – with reliable recurring revenue from customers including, but not limited to, household names like Toshiba and Fujitsu.
SBW have a combination of weighing + artificial intelligence + advanced mathematics which cannot be easily duplicated. The company was first founded in 1971 and was one of the first to shift from mechanical to digital weighing and ultra-thin IoT load sensors.
If you are interested in reading up on some of their patents, please see this link:
https://patents.justia.com/search?q=Shekel scales
I found 11 separate patents here, which are probably not an exhaustive list, but ranging from weighing vehicles in motion, to load cell devices (this is the flagship technology), point of sale apparatus and infant weight systems (for their medical customers)
SBW's three main technology pillars, including patented ultra-thin high precision load sensors, can distinguish between Coke, Fanta & Pepsi - even if they are all in 1.5 litre bottles!
The Hitachi Project (Hitachi’s Market Cap = roughly ~33 billion USD at time of writing, SBW = ~45 million AUD)
http://hlds.co.jp/product-eng/1079
[Translated from Japanese] Hitachi-LG Data Storage. Inc. exhibited in “NRF 2020 Retail’s Big Show” which took place at Jacob K. Javits Convention Center in New York from 1/12-1/14/2020, where Unmanned Store solution using 3D LiDAR(TOF) was jointly exhibited with Hitachi America, Hitachi Vantara, and Shekel Brainweigh (Israel).
Some quotes I found from Hitachi themselves
“Micro-markets are the fastest growing segment of convenience shopping. We see them exploding in high traffic areas, such as workplaces, campuses, train stations and airports,” said Hideki Hayashi, Sales and Marketing Manager, Hitachi EU Ltd.
“Deploying the joint Shekel-Hitachi solution enables retailers and micro-market operators to provide the 24/7 frictionless shopping experience consumers demand without sacrificing accuracy, performance or profitability.”
“As the manager responsible for LiDAR products in EMEA markets, I consider the R&D and commercial collaboration with Shekel Brainweigh to be the perfect partnership as we both bring our respective capabilities to develop a seamless consumer shopping experience. We are extremely pleased to collaborate with Shekel Brainweigh, which we believe is the best digital weighing technology developer globally."
“The collaboration builds on our expertise in optical motion sensors, together with Shekel’s advanced Product Aware Technology, and further strengthens our commitment to overcome the challenges, and address the significant opportunities, in global retail store automation.”
https://www.youtube.com/watch?v=P-uxk2Ycoqw
The Open Retail Initiative
https://www.lfedge.org/2020/02/13/n...ensor-fusion-for-intelligent-loss-prevention/
For the one-year anniversary of ORI, six initiative members Edgify, Flooid, Shekel and LF Edge members HP, IOTech and Intel inspired by the initiative, worked together on a demo for the Intel booth that showcased the value of Real Time Sensor Fusion for a loss prevention use case at self-checkout. The retail environment has become incredibly complex. The latest technologies enable data-driven experiences and unlock business value like never before, yet there is still a lack of interoperability making it difficult for retailers to deploy integrated solutions with speed and ease. The demo illustrates how integration roadblocks can be a thing of the past.
The demo pulls together real time data through the EdgeX middleware from different common systems including POS real-time transaction log, CV-based object detection, scale solution, and RFID, and data fusion—all in a single pane of glass.
Here are some PowerPoint slides of IBM, Intel & Hewlett-Packard talking about the joint solution
https://wiki.edgexfoundry.org/downl...amp;modificationDate=1579904283000&api=v2
The Fast Track Project
https://www.edgify.ai/retail/
Reduce time at till and selection at self-checkout by up to 98%. Computer vision-based product recognition, that continuously learns directly on the till, so the accuracy of the detection always increases.
Friction-less stores are great in theory but extremely complicated to scale in practice. Our edge training solution makes autonomous stores scalable, by having all the AI train directly on the camera. No infrastructure costs and no added complications.
Reduce incorrect selections by up to 90%. Either intentional or unintentional, use computer vision that is trained directly on the SCO itself to reduce loss by more than half!
No barcodes, no packaging, no worries. Simple USB cameras can detect the produce at close to 100% accuracy. Use as a decision support for cashiers, or to avoid consumers having to go through long and confusing menus.
https://www.edgify.ai/wp-content/uploads/2019/08/Retail_Intro.pdf
https://twitter.com/Edgify_AI/status/1277859718413930505
https://twitter.com/Edgify_AI/status/1230534216133332997
Shekel’s Visual Recognition Platform embedded with Edgify’s machine-learning training framework is the world’s first cloudless software that automatically recognises products, including fresh produce, at a retail self-checkout.
This ~45 million AUD Market Cap company allows retailers to potentially bypass expensive cloud services from Microsoft, Google and Amazon.
Sending data to the cloud is a very costly process with the Google Cloud Platform charging 1,000 stores more than US$7.2 million in cloud computing power per annum.
https://www.youtube.com/watch?v=FrpZ56IdFtg
https://www.youtube.com/watch?v=lpqwqQ1tJ4A
You can see the Shekel system 35 seconds in.
Patnership with Madix (2nd Largest Retail Shelves Manufacturer in NA)
https://www.bloomberg.com/press-rel...ade-product-aware-cabinets-to-retail-industry
NEW YORK -- January 13, 2020
Madix Inc., the second largest retail shelves manufacturer in North America, and Shekel Brainweigh Ltd. (ASX: SBW), the leader in advanced weighing technology, today announced the availability of ready-made Product Aware shelves and solutions for the retail industry.
“By seamlessly integrating Product Aware shelves into our hardware, our customers are armed with accessible data giving them reliable inventory visibility and assisting them in addressing over-stock and out-of-stock problems, as well as better control over shrinkage” said Steve Kramer, VP Sales, Madix.
“For the retail industry, this is a defined competitive edge that promotes the opportunity to increase profitability.”
Conclusion
So, remember - the core scales business is what drives the revenue we see today, but the innovation division is where the real potential resides. That will take a few more months/years to play out. I think most people are buying for the fully autonomous frictionless retail technology which comes with a huge addressable market. That’s still being undervalued in my humble opinion.
Considering there are quite a few ASX-listed tech companies with no revenue and over 100 million market cap (some even @ 1 billion market cap right now…
I don’t see why SBW couldn’t move past ~45m market cap in the near future.
Now if you read all this - links included- I commend you for your diligence. It should be obvious now that the Capsule (in partnership with Hitachi) is the “crown jewel” or “holy grail” of retail disruption technology plays (look at the success of Amazon GO for example).
So you are probably thinking: "This sounds great @verce but it’s all just aspirational and hypothetical. When will it be put into operation?" Well I’m glad you asked. The answer might surprise you. And it may be sooner than you think.
The SBW Half Year Report from 31 August 2020 had a little snippet that I think a lot of people missed. Specifically, the following text:
“Flagship micro-market project Capsule is in an advanced stage of pilot in Europe, and expected to be open to the public for trial in the second half of 2020.”
Now you are probably wondering: "That’s great but what if it’s just some obscure insignificant corner store somewhere?" Again, the answer may surprise you, and requires a little digging.
Enter Groupe Casino. A historic player in French retailing since 1898, the Casino Group is one of the world leaders in food retailing with more than 12,200 stores worldwide, located in France, Latin America and the Indian Ocean and a turnover of 37.8 billion euro.
In their Annual Report this year, they mentioned an exciting new disruptive project they were working on with a relatively obscure company.
https://www.groupe-casino.fwp-content/uploads/2020/06/RapportActivite_Casino_2019_EN.pdf
And we have some commentary from SBW featured on Page 42-43 of their Annual Report plugging "the first fully autonomous store in Europe". I'll leave it to readers to determine the significance of being mentioned in the Annual Report of a leading mass-market retail group with billions of Euro in revenue.
The same group who claim to be the source of many innovations such as the first distributor's brand in 1901, the first self-service store in 1948 or even the display of a sell-by date on consumer products in 1959. They are always pushing the boundaries of innovation, and it's an exciting partner to have.
It’s also worth keeping in mind that issuing shares are not the only mechanism by which to raise money. And that a placement at a premium to a sophisticated cornerstone investor can yield great results. Kind of like what happened with 3DP and IHR.
If I was them, I’d be asking Hitachi to chip in.
SBW also have the luxury of generating enough revenue (we are talking USD millions) in 2H20 from the core scales division, that a capital raising may not actually be necessary at this point in time. So they can wait for a better outcome.
Source: “Post 30 June 2020, the business has seen a resurgence of orders for Shekel’s products, resulting in July 2020 sales exceeding July 2019 sales by approximately 18%.”
The final thing I would like to add (if you have in fact read my other two posts which are worth reading) is coming to an appropriate valuation. This is the tricky part, especially with microcap stocks which are valued on their future potential.
We do know that there are medium to high barriers to entry, and that SBW have accumulated a competitive edge with their technology iterated over several decades, with certain patents in place.
We also know that the opportunity is global in scope with a huge total addressable market (TAM) - and that traditional retail is ripe for disruption.
Remember when there were more human checkout lanes at supermarkets than self-checkout? Now it's the other way around. We are even starting to see self-checkout in Bunnings. The trend for autonomous and friction-less shopping - what some term "Grab & Go" - was inevitable. And coronavirus has only accelerated this trend.
https://www.ibtimes.com/5-tech-tren...-end-year-result-coronavirus-pandemic-3011819
5 Tech Trends Expected To Shape Retail Through The End Of The Year As Result Of The Coronavirus Pandemic
“Retailers and brands will need to collaborate more than ever with technology startups to futureproof their businesses and be better equipped to meet fast-changing consumer demand and behavior,” Coresight said.
Coresight reported the pandemic has piqued consumer interest in cashierless models.
Technology firm Shekel Brainweigh said 87% of respondents to its global consumer survey indicated they would choose stores with self-checkout over those with only cashier lines.
So if you ask me, when you consider all the different technology projects SBW are working on - most of which we now know are "close to commercialisation*" - is 45m AUD market cap really fair value for something that has the potential to roll out globally? I personally think it is still undervalued, but the market will eventually decide one way or the other.
Even at 70 cents per share, the implied market cap with only 139 million shares on issue is about ~97 million AUD. Which is still less than 100m. And still quite low when you compare SBW's proven technology and revenue to a lot of unproven technology companies with no real customers whatsoever. And extremely low when you compare SBW's market cap to their collaborative partner Hitachi (ranked 38th in the 2012 Fortune Global 500).
Even at 32 cents as it currently stands, we are still below the IPO price when SBW first listed at 35 cents per share. How does that make any sense?

Overview

The CCP issues five year plans to help gather the nation into a trajectory of the future which will bring prosperity and wellbeing to all. These moments of National focus make China able to truly leap forward, and nothing exemplifies that as much as the twenty year journey to become the world's second superpower from our Y2K context of having an economy still smaller than Italy's. Now, China is the engine of global growth ~~and global pandemics~~, and Chinese policy sets the pace of global affairs like never before.
Xi Jinping's Fourteenth Five Year Plan spells out how the CCP will continue that trajectory, with the broad outline being the full transition from being a nation defined as "the World's Workshop" to being a sophisticated tertiary and quarterniary Economy, driving global innovation, and shedding the factory landscape, little by little.

XIV Five Year Plan

1.Industry 4.0 行业四

Industry 4.0 is the subset of the fourth industrial revolution that concerns industry. This will concern areas of the Nation which are not normally classified as an industry, such as smart cities. Industry 4.0 will see Chinese factories have machines which are augmented with wireless connectivity and sensors, connected to a system that can visualise the entire production line and make decisions on its own.
This component will steer the national economy towards automation and data exchange in manufacturing technologies and processes which include cyber-physical systems (CPS), the internet of things (IoT), industrial internet of things (IIOT), cloud computing, cognitive computing and artificial intelligence.
Industry 4.0 will comprise the following trajectories for manufacturing and industrial production:

Smart manufacturing
Smart factories
Lights out (manufacturing) also known as dark factories
Industrial internet of things also called internet of things for manufacturing.

Within modular structured smart factories, cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions. Over the Internet of Things, cyber-physical systems communicate and cooperate with each other and with humans in real-time both internally and across organizational services offered and used by participants of the value chain. The correlation of the speed of technological development and, as a result, socio-economic and infrastructural transformations with human life allow us to state a qualitative leap in the speed of development, which marks a transition to a new time era.

2."Green China" 绿色中国

Green China Part 1

Chinese production of certain Green technologies - solar panels and wind turbines, for instance, is already going at a considerable speed. Yet, with the exception of the Coronavirus lockdown, China is still too polluted, too given over to wasteland, and too careless with our portion of the world's exceptional wildlife species. Green China will encompass new efforts to combat climate change, and pollution, but also nurture Chinese green spaces, in a manner not seen in some parts of China for decades.
The industrial and collective componants of Green China will focus on empowering large Corporations within China to target key serctors in Green and sustainable technologies, so that output and productivity remain mated to our goals and outcomes. These will be an adaptation of our Made in China 2025 goals which formed the Spine of this Five Year Plan. These key industrial players will solicit additional international partners, to ensure that Chinese capacity and investment marries the global need and desire for thiese specifics. The key industrial players in Green China will be:

Baidu (AI, autonomous vehicles)
Alibaba (e-commerce)
Tencent (e-commerce)
Megvii (AI)
DJI) (AI, drones)
BAIC (new energy vehicles)
Geely (new energy vehicles)
BYD (new energy vehicles)
Huawei (semiconductors, telecommunications especially 5G, and consumer electronics)
BBK Electronics (consumer electronics)
Xiaomi (consumer electronics)
Aviation Industry Corporation of China (aerospace)
CRRC (rail)
[Sinopharm](en.wikipedia.org/wiki/China_National_Pharmaceutical_Group) (medicine)

These robust industrial focii will have to be joined to an overall national strategy that targets key areas of growth beyond 2021, making domestic production of those things a muych larger proportion of our consumption:

Selected Industry| 2021 |2027 Mobile Phone Chips| 34% |45% Industrial Robotics| 50% |75% Aerospace| 7% |15% Maritime Components| 60% |80% Renewable Energy Equipment| 10% |80% Agricultural Vehicles| 30% |60% Medical Devices| 50% |80% Basic Manufacturing Components| 40% |80%

Green China Part 2

The second aspect to Green China in #14FYP builds on the past Five Year Plan, which encouraged and stimulated "Everyone is an entrepreneur, creativity of the masses (大众创业，万众创新)". In this, families and homeowners will be led to cultivate green spaces in and around their homes, to ensure that our colossal cities to not remain endless seas of concrete, but instead become places of peace and vitality. The Party will augment tis by deliberately building more Green Spaces in the cities, and devoting large swathes of the land around them to non-harvested forests, parkland, and other natural reserves. Teams of gardeners and foresters will revivify the Chinese noble tradition of cultivating living things, and trees, edible plants, flowers, and birdong, will become a new soundtrack in Chinese cities.
The harmony between the needs of Chinese people and families, and those of the State, is a typically Chinese elegance, and further work will be done to ensure the creation of "Moderately prosperous society 小康社会", building a thriving middle class. Bridging welfare gaps between poorer pockets of rural and urban areas, with the stratospheric wealth of the City Centres, is an important componant of Green China. Stimulating domestic demand is key to this, and for that, Chinese people must have more access to capital and resources. In the spirit of Green China, this will turn neighbourhoods into havens of propserity and wellbeing. Thus, "Green=Green", and we will hopefully live to see the death of an attitude that suggests Green means that growth and profit have to die.

3."Economy needs a Rule of Law" (建构法制经济)

In combination with the privatization of economic activity within China, the government has begun to seek measure to address the structural imbalances in the national financial system. During the proceeding economic boom, capital flow has been disproportionately skewed towards SOEs, while micro, small, and medium enterprises have significantly less access. Additionally, low lending rates have contributed to excessive investment and high capital intensity, particularly in the wake of the recent financial crisis. Notably, the government's prominent and important role in national credit allocation at the central and provincial levels has led to the accumulation of liabilities not easily quantified, owing to limitations on monitoring, data collection, and governmental data exchange.
These issues will eventually lead to glaring inefficiencies and slowdowns in the national financial system, preventing the system as a whole from servicing an increasingly dynamic, sophisticated, internationally integrated economy driven by increased marketization. At the same time, globalization of Chinese firms and market capitalization of a growing middle class will begin to stress the financial system, potentially leading to exacerbation of these problems, including liquidity of capital in the next decade as the economy cools. To address these issues, the reforms must comprehensively build the foundation of a balanced, sound, and safe financial system able to meet these growing needs.
A critical priority that will be tackled first is the issue of the government controlled interest rate. Gradually, the PBOC will begin to implement greater flexibility of interest rates, which base their conditions off carefully considered market factors in the credit system, rather than political policy; for example, the central bank be given a high degree of autonomy to begin using these flexible rates to manage liquidity, rather than the previous reliance on credit ceilings.
Flexible interest rates from an autonomously controlled central bank will pave the way for credit-controlled financial decisions, relying on financial principles and analysis, precipitating a comprehensive overhaul of governance and organizations. Specifically, in state-owned financial institutions, state ownership functions, agencies, and practices will be reviewed, using lessons from examples of international best practice and failures. In addition, efforts will be made to further diversify the ownership structure in state-owned banks and further reduce the shares held by the state.
To address the under regulation systematic in the politically motivated financial market, the government has laid out a series of measures to strengthen the independence of regulators over the next decade. Staffing, funding, enforcement powers and resolution discretion will be gradually increased regional and provincial level institutions. Limits will be placed on emergency liquidity support to solvent banks facing short term liquidity problems - a common politically motivated play in the past. Standing facilities will begin to operate automatically to provide liquidity support to all domestically incorporated institutions, with the establishment of clear legal guidelines to govern and limit the use of fiscal resources in these instances.
The government will also facilitate the establishment of an efficient legal framework, including requirements of higher standards of disclosure, auditing, and accounting. Structural reforms will begin to streamline the court system to deal with troubled or insolvent banks and firms, both private and public, in a timely fashion. This framework will also include a measure to deal with IPOs, shifting from a merit based approval system to a fully disclosed and legal approach. Finally, a financial commission has been established to provide the outline and implementation of a small debtor deposit insurance scheme.

4.Age Wave 年龄波

China is set to experience a demographic transition unseen in modern history precipitated by three decades of restrictive population control. In 1975, there were six children in the nation for every one elderly citizen; by 2035, current trends indicate there will be two elders for every one child - a stunning reversal. Indeed, from the current year until 2035, Chinese authorities project that a contraction of 79 million working age adults in the workforce will begin to profoundly change the economy, and by 2050, 438 million Chinese will be elderly. The challenge facing the government is to confront the "age wave" of coming citizens, which rivals that of any developed nation, with undeveloped resources, insulating the economy and society from stress brought about during the transition.
The government has begun to confront this problem head on. Underscoring the seriousness with which Party members view the challenge, Secretary Jinping recently attended the 17th China International Conference on Insurance and Risk Management at Grand Link Hotel in Guilin, Guangxi Zhuang, a first in his career at the head of the party. While there, he pressed insurance firms to meet the demands of the coming social paradigm shift, saying "Unless China prepares for the coming challenges, a retirement crisis of immense proportions looms - just over the horizon."
To meet the challenge, China has begun to prepare a radical overhaul of the retirement system, which itself will realize enormous long term benefits, with coverage that is broad and benefits that are affordable and adequate to the average senior. The government has mandated a "poverty-free floor", where the engineering of the system will include a universal boundary of protection covering all Chinese elders, whether they participate or not. Above the minimum boundary, China will begin implementing expanded retirement savings coverage, transforming the system currently in place into a national system of adequately funded personal accounts with strict public regulation and directed by private investment.

Part 1: Reforming the Basic Pension System

As it currently stands, China operates a mandatory "basic pension system" for urban workers, created to replace the SOE system of the planned economy's early days. The system consists of a pay-as-you-go benefit scheme and a personal retirement account, and has been intended to cover the entirety of the rapidly urbanized workforce. However, current projections show that coverage is not universal, but instead sits at 65% and is highly concentrated among workers at SOEs. Structural issues also plague the current system, including large amounts of inherited unfunded liabilities from the breakup or mergers of SOEs, low rates of return on contributions, and virtually no portability. In the vast floating migrant populations of the rural countryside, there is no formal system for retirement. These rural workers are categorically excluded from the pension systems of the cities. To reform the system and meet the challenges of the age wave, the State Council has issued a new law that supplements 2015's Decision on the Reform of the State Employee Pension System, which was brought about to equalize the private and public sector systems.
The reform plan is built on four core principles. First, the government will create a universal floor of protection against poverty in old age that will cover all Chinese citizens, regardless of whether they have contributed to the basic pension system. The second step is to lower the basic pension system's contribution rate by socializing the cost of it's unfunded liabilities, having the central government directly assume the burden - that is known as the legacy cost of SOEs. Third, the pension system will be gradually transformed from a two-tier to a national system of publicly regulated but privately managed and invested personal accounts; fully funded, fully portable, and offering participants a market rate of return. Finally, supplementary coverage will be expanded under the new enterprise annuity system that had taken effect in 2015.

Part 2: Social Pensions

To create a universal floor of protection, China will be forced to assume a different tact than developed nations, not able to rely on a redistributive benefits of a contributory public pension system due to the magnitude of those needing to be insured in a relatively brief window. Instead, China will assume a general revenue financed system of old-age support; a "social pension," jointly financed by the central and provincial governments. The eligibility age will initially be set at 60, with benefits varying by residence due to the huge geographical and regional disparities in the standard of living. However, the floor of the universal benefits will be pegged at 20 percent of the average local wage for the region, which is higher than the current minimum living standard guarantee under the urban pension system.
This zero tier system will be means-tested, with benefits being phased out gradually as incomes rise. This means that a Chinese elder aged 60 or older with no other income source would be eligible for the full benefit tier, while a similarly aged elder with an income equal to the local wage would receive zero. This is a vast improvement from the current system, which simply props income to the current poverty threshold. The floor of protection will be phased in gradually as the basic pension systems are rolled back or converted, with universal coverage being established between 2025-2036. CCP estimates have pegged the cost of the means-tested benefit system at less than one-third of the current basic pension system were it to be expanded nationally, at 1% of the national GDP by 2035.

Part 3: A National Pension

To adequately create a suitable pool of wealth enabling Chinese elders to spend retirement at a standard of living approximating their working years, the best solution is, as mentioned, a fully funded national system. This will begin by phasing out the first tier of the current pay-as-you-go basic pension system, which is accomplished through the means-based floor above, while enlarging the second personal account tier. When this transition completes in the next several years, the total contribution rate for the new pension system (aka second tier, which is the only system remaining) will be 18 percent of covered payroll, with 16 percent of that flowing to personal accounts to finance retiree and aged survivors benefits, and the remaining 2 percent earmarked for insurance to survivor benefits.
Central government subsidies to the local social security bureaus, which are currently at 15%, will be gradually increased year over year until 2032 until they cover 100% of current benefits, while workers will continue to contribute 8% of their current paychecks to personal retirement accounts, as today. As the government subsidies grow, the current 20% employer contribution rate will be gradually decreased to 10%. In addition, the accrued benefits of workers who have not yet retired or are younger than 55 will be credited to their personal accounts in the form of interest-earning government "retirement bonds," avoiding a lengthy transition phase that would be seen in a pay-as-you-go system of perhaps 75 years or more.
The subsidy cost to the government will not be trivial, but will be manageable. Current estimates put the subsidy to the pension system at 2.5% of GDP a decade from now when the system is fully operational, making the poverty floor + subsidy cost 3.5% of GDP at it's peak. However, the transition costs would begin to moderate in the 2030s and 2040s as current beneficiaries and workers who have accrued substantial benefits begin to die off.
To address the rural issue, coverage will be made mandatory for wage and salary workers at town and village enterprises (TVEs), with a combined employer-employee contribution rate at 8% initially and increased by 1% year over year until it reaches 18%. To minimize the shock of an increased contribution by TVEs, the central government will begin mandating local governments to subsidize part of the TVE contributions. By 2030, coverage will be made mandatory for migrant and non-TVE workers at a lower subsidized contribution rate.

Part 4: Personal Allocation System & Regulation

The system is not a fully privatized system; the assets in these accounts will be personally owned and privately managed within the framework of a public social program, regulated and supervised by the government. Workers will be able to choose between competing personal account management companies (PAMCs) which are set up by participating financial services firms. Contributions will be routed directly to the PAMCs, which invest and administer these accounts.
This will necessitate regulation overhaul. China will structure a strong and independent regulation system that will be constituted as an independent government agency with it's own professional staff, gathered from the Ministry of Finance, Human Resources, Social Security and the People's Bank. The pension regulator would be responsible for certifying fund managers, establishing guidelines for allocation, fee structure, and reporting, and for policing the system. Within this regulation, the authorities involved will be responsible for reliable routing, recordkeeping, and functioning of the regulatory systems.
A fully independent and regulated system will provide many important advantages. Workers will be less likely to view these personal savings as a tax from the government, increasing contribution rates and improving incentives to participate, which will in turn broaden the coverage and reduce the cost of the floor protection for those not participating. It will also improve the broadening of Chinese capital markets, which has been a major reform proposal for the government since 2018, and assist in the long term maintenance of savings, investment, and living standard growth.

5.Military Reform

China's continued reforms of the PLA shall speed up in the trajectory of C4ISR, with all branches of the PLA being subject to robust reorganisation designed to cut our dependence on uneducated servant-soldiers, and turn our battle force into a comprehensive modern unit as large and as powerful as any on earth. Infantry reforms are ualready underway, but this is but a small fragment of the total:

Ground Force. We will continue the mechanisation and technological integration of the PLAGF with the PLA as a whole, and continue to slice the bleeding edge of technology via integrated rollout across our still very large force.
- Mechanisation. In 2014 about 20% of our divisions and Brigades were mechanised or armoured, and now it is 45%. The target is 75% by 2030, with the remaining formations being light infantry in Amphibious, Mountain, Jungle, or Air-mobile roles.
- Smart Brigades. Our strategic shift from Division to BRigade makes for a more mobile and deployable Force.The next frontier will be towards integrated battlefield information networks featuring local/wide-area networks (LAN/WAN), satellite communications, unmanned aerial vehicle (UAV)-based surveillance and reconnaissance systems, and mobile command and control centres. Systems and support links will be in the hands of Brigades who are able to fight in the electromagnetic spectrum, as well as in vehicles and bullets. Our 20 Army Groups will all receive EW Brigades, and see their integration of new levels of Smart Technology exponentially increase.
Naval Force
- The PLAN has perhaps been our most successful modernisation program so far. We are outbuilding the world in new ships, and our three fleets are each now top ten global navies, each in their own right. We will continue our shipbuilding plan apace, and draw up plans for the eight years following 2028, to ensure strategic increases in subsurface, surface, and naval air systems, can become a sustainable area of production. We will seek new export partners, using large ship classes to provide production platforms upon which export capacity will stand.
- Our carriers need squadrons of fighter organised into wings in each fleet, along with ASW helicopters, carrier delivery and transport aircraft, E/A attack aircraft, UAVs and UCAVs, in-air refuelling aircraft, and AEWAC aircraft. Shore based Maritime reconnaissance and patrol strike aircraft, refuellers and C4ISR aircraft will need greater fleet integration as our Zones of Responsibility become Chinese Waters which we are capable of complete maritime exclusion - signals and all. Being able to deploy that power into expeditionary A2Denial zones will be tested by the planned PLAN Carrier Group circumnavigation of the world, due to take place in 2028.
- The Support Fleet needs almost exponential growth, to keep up with the growth in the needs of the PLAN. We will increase the production and procurement of Fleet Support Ships, Refuelling Ships, Transport Ships, and other service and supply Ships, to ensure all three Fleets are able to sustain global operations in any of the world's oceans, to press Chinese interests.
- We will continue to blur the lines of civilian/state at Sea, through Strategic Ambiguity, and through our continued use of Coastguard and fishing ships in A2 denial missions that press our sovereignty in our waters.
Air Force
- We must plan for complete replacement of our Mig-based fighter fleets with J-20 and J-31 aircraft, as well as future newgen fighters, E/A fighters, and other leading edge craft, wholesale. That means annual procurement of Fighters must apporach the hundreds per year, with several squadrons per year receiving new aircraft until the whole Fighter Force of the PLAAF is equipped to be able to meet any threat BVR or up close, anywhere we choose.
- We must expand our support aircraft, and bring large scale acquisitions of Fleet tankers, AEWAC, C4ISR, and transports, to make every Chinese airbase a Ready-to-fight installation. We will expand stocks of munitions and aviation fuel, taking advantage of low oil prices to both store up fuel, and to give our pilots hundreds of additional flight ours in training and combat aircraft.
- We must develop the H-20 and be in production by the late 2020s, and other long-range aircraft. The strategic acquisition of aviation production in terms of passenger jets, and related aircraft, will have a reconfiguring effect on our plans to expand support aircraft, so national prerogatives to expand domestic aircraft production will be an especial area of focus.
Rocket Force
- The PLARF are also one of our more capable wings of the PLA, and our acquisition of a deterrant force capable of guaranteeing the deference of global nuclear powers, has been impressive and effective. Stocks will be expanded, and HGVs and ICBM research, as well as space and satellite launches, will drive further innovation and expansion.
Strategic Support Force
- The Space Systems Department will recieve new resources to expand the BeiDou global navigation satellite constellation, and other satellite and space-based C4ISR resources, which supply all of China with intelligence and security.
- The Network Systems Department will also recieve more funding. Under its control, along with numerous military bases spread around China, is a department called the "Information Engineering University", which in turn has under its control numerous military academies around China. The use of network attacks and defence systems will be expanded, and rolled out in support of our interests across the globe.

Summary

phew
I am indebted to S01780, Relativity_One and wikipedia for much of this text.

TLDR: This is an effort to spew my thoughts on why multi-state operators do not have the best business model for long term success in the cannabis industry. I’ve written this in an attempt to be challenged on why they may have the best business model and find success in the long term. Be forewarned that I’m a strong believer and investor in companies like Origin House so clearly my bias likely shows here as all of these things do tie together...
Forward:
With the growing discussions on investing in the cannabis industry south of the Canadian border...I thought I would write about something that I don’t buy into. What are you dying to know that am I not buying? “Multi-state operations” as a positive in long-term growth. This is one of many of the newest buzzwords that seems to pop up in articles, videos, and discussions of US cannabis companies and seems to be one of the most influential factors that people on this sub use to determine where to invest their money. Everyone gets all turned on at “a large footprint” and I specifically cringed the other day when I watched a Midas interview where a C-level interviewee said something along the lines of “MSO’s being hot and the way to go right now”.
I’m writing this to stir up critical discussion on the matter and if I am not incorrect, hopefully some people become more enlightened to the matter. Let’s get into it…

Introduction
Cannabis Dispensaries and Cultivation Facilities - Location, Location, Location
Vertical Integration State by State
1. It’s Expensive
2. It’s Temporary
Consolidation of Multi-State Operations
Competition From Other Operators & Beyond
1. Current US Competition
2. Future Canadian Competition
3. The Real Competition (Beginning of a Mature Market)
A Blink - Fast Forward 2020:
Concluding Thoughts:

1. Introduction:
It’s no secret that you cannot transport any cannabis or cannabis products across states lines, even between two decriminalized, medically legal, or recreationally legal states. Until we see some change on the federal level, this kind of restriction will remain, which makes expansion to new territory complicated. Multi-state operators are becoming more of a collection of independent operations that are semi-organized and working under the same umbrella. Let’s look at some of the issues I have with the constant pumping of multi-state operations and large footprints.
While you read this article think of the cannabis industry a decade from now (we’ll get into this at the end) and draw comparisons to alcohol or other industries.
2. Cannabis Dispensaries and Cultivation Facilities - Location, Location, Location:
For those who may not be familiar with the expression “Location, Location, Location” it is a real estate term in which to emphasize that location is everything in determining the value of a home. I like this comparison to US cannabis operations and in changing some quotes from the linked article....
“You can license the right dispensary/cultivation facility in the wrong location. You can automate cultivation, remodel or brand the dispensaries layout but, typically, you cannot move it, as it's attached to the land.”
You see the value of operations lies within the local economy of the state, county, city, or street in which your operations exist. When we examine things via an interstate lense, a restaurant in McMullen, Alabama is not equal to a restaurant in downtown Manhattan, New York. Via an intrastate lense? A bar in Cedarville, California is not going to perform as well as a bar in Huntington Beach, California.
Where am I going with this? If we examine state/state GDP (bonus comparisons to other countries), it’s clear that not all states are created equal. For example, if you could absolutely dominate the markets of Arizona, Colorado, Nevada, New Mexico, Maryland, Massachusetts, and Vermont then you would be just about equal with an operator who is solely focused on and dominating the state of Texas. But saying you have operations in 7 different states sounds a lot sexier doesn’t it? Location matters, state/state, city/city, and street/street. How many of you are actually aware of how adequate your invested companies dispensaries are? How prominent or convenient the location is to traffic? Have you visited the local areas? I think many people show “investor bias” when they visit the only single or couple of dispensaries in their area that is owned by a company they are invested in...
Most importantly, how easy is it to disrupt your business? When the primary value of your company is based upon your state by state retail/cultivation operations and holding partial monopoly’s in jurisdictions with sweet precious “limited licenses”, it can be easily disrupted as the industry and regulations evolve quickly...I’ll explain further and don’t even get me started on why this isn’t smart (the licenses specifically) I don’t want to get off topic but I touch on this licensing matter in my write up on Origin House as well.
3. Vertical Integration State by State:
Multi-state operators also boast about, or some states require for them, being vertically integrated. I have a few issues with vertical integration being a highlight of a company (aside from meeting current regulations).
(1) It’s Expensive: First off, becoming vertically integrated is expensive as you are required to handle every point of the process from cultivation, to testing/processing, to handling retail sales and operations. I may be incorrect here, but I do believe that in most industries you leave the specialties to the specialists. Using beer as an example, hops are grown (by farmers), which are sold (to a brewer) where they are processed, brewed, bottled, labeled, and then they are shipped to warehouses and distributed to retail outlets (gas stations, liquor stores, grocery stores, restaurant/bar distributors, etc.) where they are sold to the consumer. Each step is typically a separate entity and you don’t try to be the company that is selecting what type of soil is ideal for growing hops at different times of year, while also owning a warehouse to brew and bottle the goods, while also managing a network of retail operations...sounds exhausting to be honest. Master of none; mediocre at everything and an expert in nothing.
(2) It’s Temporary: Second, becoming vertically integrated is a way to comply with current regulations; remember, many of us are investing in the long-term here right? Vertical integration (and limited licensing for that matter) is currently being utilized by some states as a means to keep oversight and regulating operations easier. Translation “this is temporary” further translation “it’s not smart to build your business model around limited licenses or short term regulations”. I especially liked this tidbit from an older article in 2017 and again I touched on this in my write up on Origin House (I’m not trying to pump OH, but it is relevant. I am a fan of their model and I am an investor in them).
“An added disadvantage is a potential lack of specialization. ‘With mandated vertical integration, you’re essentially requiring farmers to also be retailers, or retailers to also be farmers. Those are two specialized skill sets,’ Vicente says. By allowing farmers to be farmers, he believes better products may result. Vicente predicts new medical states will continue to heavily regulate cannabis through mandated vertical integration and limited licensing. ‘I think vertical integration probably does make sense in the short term, but as these programs expand and the regulators become more sophisticated in tracking the parties involved, I think that need for required vertical integration is certainly going away.’ ”
It should be noted that some states have changed their stance on vertical integration requirements and massive markets in states like California are going to phase out permitting vertical integration in time. Some industries that have vertical integration create a high barrier of entry and leave a select few companies to dominate a market, such as the oil industry. This is something the majority of regulators will want to avoid. More information here.
We need to constantly keep the future in mind and understand that current stigma and regulation of a new industry is going to take some time to normalize, but it will eventually be like any other semi-regulated product on the shelf. How long do we really need “budtenders” educating us on cannabis? Do you show up a liquor store saying-
“Oh hello random cashier! I’m 21 today! So what educational materials do you have on dosage, effects, and dangers of alcohol before I indulge?” -Kid
“Hey kid, you can get drunk and die from alcohol poisoning, but we don’t need to educate you on the dangers, dosing, or effects of alcohol. You see, there is no stigma with alcohol so no one gives a shit and very quickly, cannabis will be the same. It’s not going to be tightly regulated for too long. If you start a business in an emerging industry by chance, don’t build it around current regulations” -Random Cashier
4. Consolidation of Multi-State Operations:
How many people here have actually run a business...or do you just work as a W-2 employee and have little experience managing anything beyond your sole job focus? I don’t mean that to be derogatory or insulting to anyone...
Consider for a moment, running a paper company like Dunder Mifflin. Imagine running your office where you hire a receptionist, sales staff, warehouse workers for distribution, management, finance/payroll...you are overseeing overhead on employee benefits, competitive salaries, warehouse/office bills/rent, maintaining consistent profit margins, operational losses, potential lawsuits, etc. That’s all you do and it’s a decent amount of work...now throw in the fact that you also need to manage the source of your lumber and own/manage a logging operation, buying/repairing/maintaining equipment, adhering to OSHA safety regulations, hiring the logging staff and foremen, transporting the product to a facility to be processed...now imagine having to manage 10 different logging/paper company operations that operate semi-independently of each other in 10 different states, with 10 different state regulations to adhere to (that change frequently as paper was just legalized)...now paper is finally legalized with god knows what federal regulations and now you need to manage consolidation of everything…
Maybe it’s four times as expensive to log for lumber in Washington than it is in Oregon. So now you have an entire team and logging operation in WA that you want to move over to OR, as you can just ship the lumber across state lines for cheaper. Except your logging operation is tied down to an expensive facility that costs investors 10 million to construct and it’s now much less valuable because...anyone can ship their product across state lines now and set up national distribution. Maybe you try to sell the facility at a loss for 2 million and recoup some of the cost? What about all of your offices? License regulations have loosened up and there are another 200 dispensaries permitted in one of the states you operate, creating fierce competition and now you are desperately trying to get your product on your semi-competitors shelves to keep up revenue/profit because there are less people going to your dispensaries...you get the idea. Consolidation...it takes times...it will be a massive headache...it will cause hiccups and potentially drastic ones.
5. Competition From Other Operators & Beyond:
(1) Current US Competition: As states come online and roll out medical or recreational programs, we have how many multi-state operators seeking to enter each territory now? It seems like there is a new RTO/IPO every month of a new competitor to toss into the mix. GTI, IAN, MPX, CURA, TGIF, MMEN, TRUL, Cresco (soon to be public I believe)? How many other private companies that operate largely out of sight of the public eye? All of these companies, to some degree, are representing the same product and goods. They are striving for the same locations or they are all opening multiple locations in close proximity in an area. Many of them will have built out expensive state by state cultivation facilities. There is a ton of competition and these companies all have fairly similar operations and business models (adhering to current regulations mind you).
(2) Future Canadian Competition: When US legalization comes is irrelevant. We know it is coming and the general consensus is that it is going to come sooner rather than later and may be either decriminalized or medically legalized on the federal level. So at what point do we have massive Canadian companies moving into the US? And no, before you get all turned on it may not necessarily be “massive buyouts of US operators for billions upon billions at a premium. To the moon!!!”. Canadian brands which may be distributed to current dispensaries whether through their own organic distribution channels or through partnerships announced or yet to be announced...partnerships like Constellation Brands. Let’s dig into this for a moment and it’s a perfect segway into my next point…
(3) The Real Competition (Beginning of a Mature Market): Let’s take a quick step back and go into the future with your favorite redditor (me)...There is money to be made from this industry, this is no secret. Do you think the likes of mainstream retail and online companies are going to just let cannabis products be sold in dispensaries alone? Just like how big alcohol, tobacco, and pharma are going to sit back and watch while cannabis takes a big bite out their market share?
Here is a little newsflash: Dispensaries are built out of stigma. Stigma leads to regulation. Regulation leads to limitations. Limitations lead to limited licenses and outlets like specialized retail “dispensaries”. What happens when stigma quickly begins to fade (as it already is) and regulations loosen? What happens when WalMart, Safeway, or CVS decides to carry Tweed Tonic in it’s liquor aisle? When Chevron or Shell decide to carry 20 packs of Marlboro Greens in every gas station? You won’t go there for your products though right...no no, you’ll drive 8 miles to your dearest MedMen, you know, that sexy Apple-like outlet to get your overpriced top grade ganja. Even if there is a Safeway right around the corner carrying the same product…
It’s my belief and I don’t think it’s hard to see that this is where this industry is eventually headed. Companies can take action now and build towards this future without buying into the vertically integrated, retail/cultivation focused, multi-state operator business model.
“Dispensaries are the liquor stores of tomorrow” - Meadhead81 Nov 2018.
This is where a company like Constellation Brands becomes invaluable via their distribution network and marketing machine. Whether it’s dispensaries or traditional stores, they have the national distribution network to push Canopy’s products and brands across the US shortly after federal legalization and I guarantee you they are in the beginning stages of gearing up for that now, behind the scenes. While the multi-state operators are consolidating their operations in a dozen states and selling dry bud and weed gummy bears...Constellations legal team just amended their contracts with their retail partners to carry Tweed Tonic starting during the 2020 roll out and have a Superbowl highlight spot to advertise it...all while large corporations are channeling money to open the gateway so cannabis can be sold anywhere with a valid license.
6. A Blink - Fast Forward 2020:
We need to think into the future. Imagine a glorious land where cannabis is completely legal...

No one gives you the angry eye when you light up a joint on your back balcony…
Bars are filled with corporate drones getting cannabis cocktails on tap…
People don’t whisper about using CBD cream for their bad knees in the dark as if it’s some taboo “no no” in society “Please don’t tell the family I use this harmless thing to help myself.”
The news anchors are no longer giggling like school girls when discussing “the pot” as they joke about maybe partaking back in high school or dabbling in college LOL!!! TeeHee!...
Six packs of various THC/CBD based cocktails fill a quarter of the liquor aisle in your local grocery store and joints by the twenty pack are sold at gas stations...

Between the importance of your retail locations, the eventual waterfall of state licenses, the expensive vertical integration, the now irrelevant cultivation facilities, the headache inducing consolidation, and the fierce competition...I just don’t see dispensaries or many of these multi-state operators surviving in this world, aside from being specialty cannabis stores like we currently see for tobacco and alcohol; is that really what you want to invest in?
7. Concluding Thoughts:
Although I understand where the appeal comes from with investing in a sexy branch of retail outlets and a large footprint of state/state retail/cultivation operations...I just don’t think it’s the winning ticket in this industry. I know they are going to be building up decent revenue in the immediate term (next year or so) but where is their competitive edge beyond that...aside from being the only place you can currently get cannabis products? The only thing I can possibly see is their ability to push their own brands and products and pray they become popular enough to get acquired.
A quick fun fact is that Walgreens had explosive growth during US alcohol prohibition by selling medically prescribed alcohol; it should be noted that Walgreens was already a successful business beforehand and obviously was sustained after prohibition as they weren’t depending upon loophole liquor sales for revenue.
I’ve taken the time to write out why I believe this is not viable going into the future, but I would love to be challenged. Please share with me a thorough reason why you specifically believe in these multi-state operators and how they will adapt and evolve with future regulations.
Go long and prosper.

Good Morning/Afternoon.
I am in the process of a basement remodel and would like to get some input about some new wiring I want to do for lighting. As it is, I am trying to get an electrician to come out and take a look at my box, since it's full and I want to add a few more and split some of the circuits that I currently have. But that is not what this post is about. I do have some background in electrical wiring from my undergrad days, but most of my experience is tied to low-voltage and swapping out switches and outlets.
Originally, this room had a single hallway light, and three fluorescent light fixtures (each on a different switch around the room WTF?) with ballistics for two t8 bulbs a piece, plus two outlets all coming off the same circuit.
I've already ripped out the fluorescent lights fixtures and just currently have a single socket fed by a single switch while we do the remodel. I am wanting to install 8 light canisters to put LED bulbs in one room, plus two more in the hallway. I will also like to install one outlet that is in the closet that is tied to a switch for an LED light strip. If I can't break the outlets off on to their own circuit, there will be anywhere from four to six outlets on this circuit as well.
I have drew up a diagram of the proposed wiring. Could someone give it a look over and let me know if this is going to work.
Parts I plan to use:

Patriot Lighting IC/Non-IC 6" Canisters
Patriot Lighting IC/Non-IC 6" Remodel
a mix of push in connectors
Light Switches will be 'Smart' switches so they can be tied into the home automation, except for the closet.

I'm in the state of Illinois, and so far I haven't found anything that says I can't use Push-In Connectors instead of twist-caps, and the patriot cans actually have push-in connectors already in them. Which is what gave me the idea.
I'll try one of the DIY subs if need be, but I rather get the opinion of some professionals before I go to the arm-chair ones. As it is, some of the repairs we had to do to our house have been undoing some of the previous owners DIYs.

Facebook Inc. can be forced to remove posts anywhere in the world to protect European Union users from hateful content, the bloc’s highest court ruled in a case that widens a chasm with the U.S. on freedom of speech and privacy.
European courts can force platforms such as the social-network giant to seek and destroy such content once they’ve been alerted, the EU judges said in a binding decision on Thursday. Courts can also order a worldwide removal as long as they take international law into account when they issue the edicts, the judges said.
“Today’s ruling essentially allows one country or region to decide what internet users around the world can say and what information they can access,” said Victoria de Posson, senior manager in Europe at the Computer & Communications Industry Association, an industry group that includes Alphabet Inc.’s Google and Facebook as members.
The EU has taken a tougher stance on citizens’ online rights than elsewhere in the world. In 2014, the EU’s top court gave people a so-called right to be forgotten, allowing them to ask Google to remove European links to websites that contain out of date or false information that could unfairly harm a person’s reputation. Still, in contrast to Thursday’s judgment, the same court decided last month against requiring search engines to scrub links globally.

‘Constitutional Free Speech’

“What might be considered defamatory comments about a politician in one country will likely be considered constitutional free speech in another. Few hosting platforms, especially startups, will have the resources to implement elaborate monitoring systems,” de Posson said.
Platforms from Facebook to Google’s YouTube won a nod of approval from the EU earlier this year for tackling hate speech posted online as part of a code of conduct signed with the commission in 2016. The companies vowed to tackle online hate speech within 24 hours, once made aware of it.
Facebook said the ruling goes beyond a process it already follows to “restrict content if and when it violates local laws.”

‘Undermined Principle’

The judgment “undermines the long-standing principle that one country does not have the right to impose its laws on speech on another country,” Facebook said in an emailed statement. “It also opens the door to obligations being imposed on internet companies to proactively monitor content and then interpret if it is ‘equivalent’ to content that has been found to be illegal.”
The EU court decided that in some cases platforms can be ordered not just to remove identical content, but also posts that are equivalent to such hateful and illegal ones. According to Facebook and human rights group Article 19, this risks trampling on people’s fundamental rights.
“Compelling social media platforms like Facebook to automatically remove posts regardless of their context will infringe our right to free speech and restrict the information we see online,” said Thomas Hughes of Article 19. “The judgment does not take into account the limitations of technology when it comes to automated filters.”

Holocaust Denial

In contrast to the U.S. where freedom of speech is a constitutional right, Europe has traditionally placed more limits on what people publish, forbidding Holocaust denial in Germany, for instance. That chasm is widening as Europe is becoming more aggressive in combating hate speech online to prevent violent attacks against groups, like the terrorist shootings at mosques in Christchurch, New Zealand in March.
Despite the platforms’ efforts, EU officials have been mulling new bloc-wide rules, building on existing legislation in Germany, that could hit big tech firms with possible fines if they fail to remove illegal hate speech quickly enough. The discussions fit into broader plans by the EU to overhaul liability rules for platforms.
Austria’s Supreme Court last year sought the EU judges’ guidance in a dispute between Facebook and Eva Glawischnig-Piesczek, a former Green member of the European Parliament, who was the subject of a number of offensive posts on a Facebook user’s account. She asked for an order against the company to block any further publications of pictures of her if the text alongside them included similarly offensive content.
The Austrian court also asked whether under EU law companies could be forced to remove any content from its platform “with an equivalent meaning” to illegal information it has been made aware of. Lawyers said this is an issue also faced by copyright owners on platforms such as YouTube, or Instagram, where uploads of previously taken down copies keep popping up online.
“We hope the courts take a proportionate and measured approach, to avoid having a chilling effect on freedom of expression,” said Facebook in its statement.
The case is: C-18/18, Eva Glawischnig-Piesczek v. Facebook Ireland Limited.

“Fewer heads”

Without a doubt, the “electronification” of stock and bond trading has lessened the need for headcount at trading desks. While products like derivatives and high-yield credit still often require the need for human interaction, traditional cash equities and fixed-income trading has become an increasingly automated proposition.
“What we’re seeing is less need for human traders, and we’re also seeing some businesses be consolidated,” according to Sandler O’Neill anaylst Jeff Harte, who covers the banking sector.
Harte points to Citi’s decision to consolidate its equities, prime brokerage and securities services units into one division as part of an “ongoing effort to make trading businesses more efficient,” and one that is “leading to a general decline in heads.”
He adds that Citi and other banks that are now reducing their trader counts have generally been “slow to the punch” in addressing headwinds that have impacted their profit margins—and only expects the trend to continue. “I think we’ll keep seeing trader counts ratchet their way down across Wall Street,” Harte says.
For Citi, it is a particularly painful development given the extent to which the bank has sought to build up its trading business in recent years, extending its reach beyond the consumer-facing retail offerings that give it much of its name recognition. And though Citi’s robust consumer business does soften the blow when it comes to a challenged investment banking sector, the pullback in its trading operations is a testament to how hard even the largest banks are finding things these days.
Compared to equities heavyweights like JPMorgan Chase, Morgan Stanley and Goldman Sachs, the likes of Citi and formerly Deutsche Bank have found themselves “second-tier players,” according to Christopher Whalen, a former Bear Stearns banker and chairman of financial services consultancy Whalen Global Advisors.
“It’s a different world than when I first got into the business, and it’s hard to get people to do this cash [trading] stuff,” Whalen notes. “Derivatives are different, but cash stocks and cash bonds—no.” He adds that while smaller, boutique investment banking players have a more commission-oriented, “eat what you kill” approach to the business, “the big shops still have this strategy of salaries and bonuses, and you just can’t do that anymore.”
Instead, the likes of Citi are better off focusing on segments like consumer banking, which even traditionally investment banking-focused players like Goldman Sachs increasingly getting into.
“If you look at what Citi’s got, consumer [banking] is far and away the most valuable part of their book,” Whalen says. “If you have a choice between consumer [banking] and capital markets, you’re going to do the former—it’s much more stable. With capital markets, you put people at desks and hope they make money. All of the second-tier [trading] players are getting culled.”

A changed environment

In general, the banks now find themselves competing in an environment that has changed drastically in the decade since the Great Recession. With non-banking entities, like private equity firms and debt funds now holding an unprecedented amount of assets—and those players not subject to the same capital requirement regulations that banks are—balance sheets aren’t as robust as they once were and banks find themselves unable to play in the same high-risk, high-reward markets that they once were.
“The non-banks like Blackstone and Citadel, they don’t have the capital requirements that the banks do; they’re more nimble, they can hire a lot of people and take on riskier transactions,” according to Mayra Rodriguez Valladares, managing principal at capital markets consultancy MRV Associates.
Harte echoed that sentiment, adding that the amount of capital that banks now have to hold against many of their trading positions “has definitely changed the industry. You can’t lever up as much as you could pre-crisis.”
That, coupled with investor risk-appetites that Harte says have yet to return anywhere near pre-recession levels, have forced the banks to adjust accordingly. And while they may be saving money in the near-term by scaling down their trading operations, it could costly them dearly in the long-term—given how the market is a vital gateway toward developing client relationships and procuring other, “higher-margin” business.
“Having a trading desk is important to a lot of other investment banking businesses,” Harte notes. “If you were to exit U.S. equities trading like Deutsche Bank did, it’s going to be a lot harder to be the lead underwriter on the next big IPO if you’re not trading stocks. Other revenues are impacted by these decisions.”
Only time will tell if the current trend of trading austerity proves a prudent financial decision, or a long-term opportunity cost.

Product

SmartContainers Group is a holding company for SkyCell.
SkyCell is the company Smart Containers Group uses to rent/sell their containers to clients around the world.

Our containers transport some of the most expensive and temperature-sensitive goods in the pharmaceutical industry. These goods need a particularly careful and accurate protection. Through our highly secure and efficient container design, we assure the best possible protection against temperature excursions. In combination with a cutting-edge technology, it enables us to provide containers with easy handling, maximum loading capacity and highest performance on the market.

More than 50 man-years of research and development poured into the creation of an unprecedented, highly efficient insulation. This cutting-edge technology reflects a maximum of radiation while minimizing heat conducting. It is the most patent protected insulation technology on the market.

The ingenious SkyCell R&D team invented a completely new, cooling technology, that stores five times more energy than traditional methods to keep the container at a steady temperature. Consequently, SkyCell containers are automatically recharged in a cooling chamber without any manual interference. Nothing can be mixed up since all parts are integrated and fixed.

The ingenious SkyCell R&D team invented a completely new, cooling technology, that stores five times more energy than traditional methods to keep the container at a steady temperature.

“oh, our product needs better cooling? Okay, let’s just invent a better cooling technology, no biggie”. Who heads that team, Rick Sanchez?
I asked about this tech during their AMA, here's what they said:

Cooling technology: Yes, our containers are state of the art. Nico has developed a cooling material that freezes at 5.5°C. So if you put it in a cooling chamber that has a lower temperature, it automatically freezes and if the temperature is higher it melts. Basically, the system works like a huge ice cube that is empty in the middle. The centre of the ice cube has a steady temperature of 0° until at least 1 side of the ice cube has melted. It's the same principle for SkyCell containers, but at 5.5°C

The patented-in house developed cooling technology stores five times more energy than traditional methods to keep the container at a consistent temperature. After use, they are ‘recharged’ in a cooling chamber without any need for manual intervention, increasing productivity of the business and reducing cost.

I’ve forgotten to mention something so far about their product [the containers]. They’re literally (not figuratively, literally) the most advanced container ON EARTH.

From their ICO FAQ: Where do you position yourself compared to Envirotainer? Envirotainer is the number one container company with the largest container fleet today. We are currently fourth globally, but we reached this position in less than 5 years operating in this space. SkyCell containers have been tested and shown to be technologically superior to Envirotainer containers (5x more runtime, up to 35% lighter) which translates into safer pharma distribution and cost savings as well as a reduced CO2 footprint.

We are currently fourth globally, but we reached this position in less than 5 years operating in this space.

Another thing that’s pretty impressive, 4th largest company in their entire field… after just 5 years… but back to the main point of that statement: “SkyCell containers have been tested and shown to be technologically superior to Envirotainer containers (5x more runtime, up to 35% lighter) which translates into safer pharma distribution and cost savings as well as a reduced CO2 footprint.”.

Watching a video from a blockchain conference in Switzerland, I got a fair bit of info from the CEO, Richard. I’ll be quoting him in that video a few times in this post, and here’s the first: “In my industry, we talk about how many shipments go wrong - and the average is 8.5%. So for 8.5% of pharma shipments for example, the [proper] temperature is not maintained. In our case [with Smart Containers], it’s less than 0.1%. That’s 75 times better. Richard also speaks in this video about how they will be able to eliminate the amount of shipments happening every year, due to the decentralized nature of this whole system, there will be less need to send packages to places far from their end destination, to make the delivery easier on the shipping side. We’ve all had packages come from across the ocean, only for it to fly 1500 Km past us to be shipped back our way next week…

LogiChain

”There are 200 documents are required, or exchanged, to make one shipment happen… we estimate we can bring this down to 8” Richard Ettl, CEO
Logistics is an old industry. it started out on paper, moved through the fax, early ages of the information era, early email, current email, and is now ready to move onto the blockchain.
LOGI CHAIN GOALS

Eliminate paper and disconnected information like email from the shipment process
Automate billing throughout the supply chain and reduce transaction fees by accepting cryptocurrencies as payment
Provide services for the whole logistics community, including logistics players, airlines, sea freight companies, customs brokers and more

“By using blockchain technology, we can decentralize logistics and create autonomous containers – container 4.0. This container will know who’s renting it, when the contract ends and when to invoice the customer. That’s why we’ve created the LOGI CHAIN platform. It allows us to create a seamless, fully integrated, digital logistics process that everyone can use for free.” - Richard Ettl, CEO
“Well-established processes often generate inefficiencies that we simply accept. And of course everyone knows change is painful. But at Smart Containers, we see things differently. Change is the only way to improve. We think that every process should not only be optimized but redefined and redesigned. Logistics today is highly centralized. It’s incredibly inefficient. So many wasted kilometers to huge warehouses.” Nico Ros, CTO

There will be more than one blockchain at play with this system as well. The info that people deserve to know will be available on a public blockchain like Ethereum, the weight, material safety data sheets, the storage conditions (which as said up above, 8.5% of pharma shipments have issues with, and Smart Containers brings that down to below 0.1%), as well as at the same time, the info that shouldn’t be public to everyone (Bills, invoices, etc) would be stored on a blockchain like Fabric or HyperLedger. LOGI will be the fuel for the LOGI Chain.
CMO Carla elaborating on LogiChain:

The LOGI project finds good echoes with logistics players but even more with blockchain infrastructures like NEM, EOS and NEO.
Emirates for once was enthusiastic about the project and definitely wants to join the foundation. As you know, the government of Dubai is focussing on applying blockchain asap to multiple industries.
We are also in exchange with ShipChain, who are running a similar project in the US. Our goal is to collaborate with a maximum of projects around the world.
The LOGI Chain Foundation will be set up in July, right at the end of the ICO. Dr. Fabian Schär, our valued Advisor, will be in charge of defining how the LOGI Chain Foundation will develop in the next 2-3 years. We think that we will be able to put out a PoC based on SkyCell until the end of the year.
We have not yet decided on which blockchain platform to build the LOGI CHAIN. We are highly delighted with NEM since they are already operative and offer a private and public blockchain on the same protocol.

One Chain to Connect them all - LOGI CHAIN

One platform to get all players up to speed, to handle all documents and permissions in one place. No more floods of emails. No more polluting the environment with senseless printing of documents. No more compatibility problems and clashes of individualized systems.
To show you how vast the amount of documents (and by this emails circulated) find a list of common documents needed for one air freight shipment below:
Documents of origin, Material safety sheet, Airway bill, Bill of lading, Transport order, Customs declaration documents & bills, Invoices, Product data sheet, Storage conditions, Transport conditions, Multiple service provider billings, Licenses, etc.
This adds up to the gigantic number of about 200 manually processed emails per shipment.

A combination of public and permission based chains will allow for all players in the ecosystem to store documents needed in the logistics processes. We are looking at multiple platforms to build the LOGI CHAIN on top including NEM, Fabric, Corda, EOS and NEO.

Team

I’ll be using bits and pieces taken from their white paper and LinkedIn pages.
The Smart Containers team includes over 80 people, and is growing every year.
Richard Ettl - Co-Founder, CEO - LinkedIn
Richard wanted to know how things worked since he was a child. He has a passion for engineering and management. Growing up in Vienna, Austria and studying in Stanford USA and the University of Fribourg, Switzerland, he started his career at Bobst Group, a leading producer of packaging machines worldwide. In 2009, he decided to launch his own business together with his university friend Nico. After wide reaching scientific research and various proof of concepts, they founded today’s Smart Containers Group as well as SkyCell in 2012. Since then he has lead the companies to commercial success, seamlessly finding the right partners and investors at crucial points, as well as convincing more and more clients of the unrivaled benefits of the SkyCell offer

Nico Ros - Co-Founder, CTO - LinkedIn
Nico Ros, Chief Technology Officer & Co-Founder Nico is the mastermind behind Smart Containers Group and its technology. Growing up in Basel, Switzerland, he discovered his passion for mathematics very early on and therefore came to study mathematics, physics and engineering. Being a natural talent, he had already won prestigious architectural prizes during his studies and quickly became managing partner at ZPF an engineering company in Basel. He has constructed the most expensive buildings in Switzerland in collaboration with the famous architects Herzog & DeMeuron. Nico’s key strength lies not only in his state of the art engineering know how but also in his efficient management of teams, leading highly complex, multimillion projects to success. However, engineering alone did not suffice Nico. Having a passion for business and management, he decided to complete additional studies at the University of Fribourg, meeting Richard along the way. Everyone who meets Nico rapidly becomes aware of his sharp mind and his passion to invent new technologies. It is therefore not surprising, that both him and Richard ended up together where they are today.

Andreas Ernst - CFO - LinkedIn
Andreas is the true logistic finance expert in the company. He spent all his career in various finance roles of logistic service providers: from Swissair (today Swiss International Airlines), to Swissport (biggest ground service provider for airlines) where he filled the role as regional CFO for the Middle East and Africa. His last role before joining Smart Containers Group was CFO of Unitpool (now called Unilode), which is the largest independent air-freight container pooling company in the world.

Thomas Taroni - Head of IT - LinkedIn
Thomas is an IT-architecture mastermind. His first claim to fame is the creation of the largest media database, shared by all media houses in Switzerland: more than two million articles are uploaded every year, then queried and shared seamlessly and efficiently among multiple news companies. He founded his own IT company to design IT architectures focusing on process automation (eliminating paper and endless emails), and as a result won other clients (large banks, pharma companies and even publicly tendered government contracts). SkyCell became his client, when they needed a bespoke asset management system to track and trace their containers around the world. He joined SkyCell four years ago and since his tenure, has become the head of IT for all companies of Smart Containers Group.

Carla Bünger - CMO & Business Development Manager - LinkedIn
Carla is a marketing and sales expert. Building strong brands on solid foundations and convincing clients to buy its underlying products gives her huge satisfaction. She collected her experience through managing various international consumer brands, for companies such as Nestlé, Lindt and Coty. However, she discovered her passion for Blockchain technology roughly 18 months ago and has since been actively participating in the com - munity of Crypto Valley in Switzerland. The sheer endless application possibilities make her strive for more and she is drawing energy and enthusiasm from developing new business schemes around the subject. Her “can do” attitude helped to put together the high level advisory team around our ICO.

Advisors

Strategic advisor: Oliver Bussmann, is CEO and Founder of Bussmann Advisory, former CIO of UBS and SAP as well as the President of the Crypto Valley Association. “our main advisor” - Richard
Strategic advisor: Marc Bettinger, Altcoin and Blockchain specialist and investor, Co-Host Altcoin Meetup Switzerland (Bitcoin Association Switzerland)
Strategic Advisor: Fabian Schär is Managing Director of the Center for Innovative Finance at the University of Basel. His research focus is on the potential and applications of blockchain. In addition, he works as a lecturer in blockchain technology at the University of Basel, the University of Applied Sciences in Business Administration Zurich (HWZ) and the University of Applied Sciences Northwestern Switzerland (FHNW).

Technology Partner: Lykke Corp. our highly trustworthy expert in smart contract programming and ICO execution. (Lykke also audited their ICO smartcontract)
Legal Advisor: Gabriela Hauser-Spuehler was part of the team of MME, the well-known law firm in the crypto space.
Communication Advisor: David Wachsman and Emma Walker from Wachsman PR, the crypto community’s most experienced PR agency.
Richard also states they hired a lawyer that worked on the Ethereum ICO, but I don’t know if it’s Gabriela up there or another person.

Tokens

Min. investment = $500 USD for ICO, $5000 for presale (largest portion of supply), $250k for private sale.
There are two tokens as mentioned before: SMARC and LOGI. I’m more into SMARC because it’s safe (safe once the payouts start of course, as soon as a coin has a clear value like this, BTC moving up or down doesn’t matter to you), as well as obviously very attractive if you think of the long term profits.

Every year, the company’s annual shareholder meeting takes place, during which the shareholders will agree (or negotiate) on a proposal by the Smart Containers’ board about how much of the company profits is to be paid to the shareholders that year. 20% of that amount is taken, converted to ETH, and fairly distributed to the token holders.

Since the cofounders and all token holders will have aligned interests and incentives, we are all in a positive-sum-game. We do not want to use the ICO as a speculative springboard, but as way of funding innovation and change the world. Both Richard and Nico are committed for the long-term and not interested in a quick exit. Our aim is to use the collected funds to continue pushing the following business areas:

• Continue scaling of SkyCell in both B2B and B2C
• Establish FoodGuardians - the main goal if the ICO is to build and scale FoodGuardians
• Establish the of LOGI CHAIN Foundation
• Regularly evaluate organic scaling vs. M&A
• Evaluate IPO at relevant time

We are raising funds through an ICO to grow our container businesses in pharma and food. We push SkyCell from no. 4 to the no. 1 provider in the next 2-3 years.

The CEO in this video explains pretty easily why one would want to put money into this ICO over others:

“Why invest? [referring to SMARC] Simple question. It’s an up and coming company with revenue, multiple millions a year, most ICO’s have white papers…[we have much more than that].”

That's pretty clear. You can invest in random Xcoin ICO where they have some half-baked token that might see some level of adoption if it isn't just a cash grab, or you could invest in an actual multimillion-dollar company and be a part of it as it scales into what could potentially be a multibillion dollar entity.

The following is taken from the ICO, Legal, and Company FAQ

How will the profit share payouts work? 20% of dividends will be paid in ETH to all holders of SMARC tokens that are in circulation at the time of the payout. A given business year ends on 31st December each year with a general assembly held annually around mid-February. Therefore, dividend payout is expected around mid-March each year. In the event of a total sale of Smart Containers or the exit of one of its lines of business, the holders of SMARC tokens will receive a 20% participation of proceeds

Is there a future profit statement? No listed company can make an estimation or a commitment to a future return. To do so would neither be professional nor ethical. For Smart Containers, as with any company, profits may often depend upon a number of external factors, such as the general trust in blockchain technology. The question to be assessed is how fast a new disruptive technology can replace an old system. We believe that Smart Containers Group is well-positioned to facilitate this disruption, with a strong plan going forward and experienced team working to successfully implement blockchain technology in the supply chain. 5 years of industry experience, the 4th largest container fleet and a motivated team; that’s more than any idea whitepaper ICO.

What specific rights come with my investment? The SMARC token is a profit share token. When the company generates profits and the company’s general assembly approves a dividend payout, 20% of the defined funds attributed to dividends will be distributed proportionally to holders of SMARC tokens in circulation. In contrast, the LOGI token is a utility token that can be used to pay for transactions on the LOGI CHAIN, an open-source logistics platform for all stakeholders in the logistics field with the goal to create a seamless, fully integrated, digital logistics process.

Smart Containers will pay out a dividend to SMARC token holders. This would imply that the SMARC token is a security token. Are you compliant with financial regulation? Smart Containers tokens is not classified as a security in Switzerland under current law. This may be different in other jurisdictions such as the USA. Hence the SMARC token is not eligible for sale in certain jurisdictions. Our benchmark is the Modum token sale from June 2017. We have elected to use the same legal structure as it was accepted by regulators in Switzerland and well received by the ICO community and exchanges.

What is the vesting schedule for team and advisors tokens? Everyone will receive SMARC and LOGI tokens at the same time. Minting will occur at the end of the token sale. Advisors will have lock up periods depending on how many tokens they receive. Team members have a lock up period of 12 months.

Are SkyCell containers an approved ULD according to IATA regulations? SkyCell containers are exempt from the ULD rules by IATA. This has the huge advantage that, compared to our competitors, the SkyCell container can not only fly but can also leave the airport. Skycell containers are therefore a door-to-door solution. Our competitors’ containers, on the other hand, have to be unloaded at the airport and packed into a new transport unit in order to continue their journey from the airport to the final destination, increasing the risk of temperature excursion, and loss.

Are there financial statements? If so, are they audited, and by whom? Yes, there are financial statements for all our companies. They are audited by PricewaterhouseCoopers (PwC). To preserve our competitive advantage in the market, we have decided not to publish our financial figures online at this moment in time.

Are Modum and Smart Containers competitors? Modum and Smart Containers are not competitors, more future partners. Modum rents/sells sensors to track and trace shipments on temperature, whereas Smart Containers rents/sells the containers, in which products including sensors are put inside. Of course our containers have sensors that record data for quality control, but Smart Containers does not sell these data sets. In the end Modum and Smart Containers will address to the same clients - Smart Containers provides the container and Modum will put a sensor in it.

How many airlines fly SkyCell containers? In addition to our major partners, Emirates and CargoLux, more than 30 airlines fly SkyCell containers.

What destinations does SkyCell serve? SkyCell is a global company. We are shipping containers around the world and reach each pharma client within 24-48 hours. This is accomplished through our airline partners, that can fly ready-to-use containers to more than 150 airports.

Profit Sharing Mechanism

During the annual shareholder meeting, the shareholders in the form of the general assembly (Annual General Assembly) decide on a proposal by Smart Containers’ board regarding the usage of profit as recognized in the annual financial statements of Smart Containers in the form of distribution of dividends. Distribution of a dividend on shares shall be announced in the “Tokenholder Information” section of the Smart Containers website; such announcement shall include the date and time of the dividend payment and the dividend amount per ordinary share in USD as well as the ETH/USD exchange rate which shall become applicable, as derived from publicly available and reliable quotes. Within 20 business days of the date of the resolution passed by the Annual General Assembly regarding dividend payments to the shareholders of Smart Containers, Smart Containers will make available a Profit Share Amount to each authenticated Tokenholder equal to 20% (twenty percent) of all dividends agreed to being distributed per share to the shareholders, divided by the total number of issued SMARC Tokens (To further explain for clarity, all Tokenholders combined will receive an amount equal to 20% of the amount received by all shareholders combined.). SMARC Tokenholders shall receive these payments in ETH, at an average exchange rate specified by Smart Containers.

FoodGuardians

“Imagine your tomatoes tasting 1 day ‘fresher”.
One of the main reasons for the SMARC/LOGI ICO is to raise the funds to fuel the growth of FoodGuardians alongside SkyCell.
According to their CEO, SkyCell is constantly asked “can your containers be used for food?”, but there are several issues with shipping food and medicine together. This is where FoodGuardians comes in.

FoodGuardians offers the next generation of reusable containers and boxes to transport regionally and globally temperature sensitive food products.The combination of patented cooling technology, cutting edge insulation and Blockchain infrastructure allows to redefine the product’s freshness and traceability.

Our vision is to allow your local butcher to order your favorite steak directly from the producing farm and sending it straight to your grill party. (All without the buyer even leaving his home, let alone going to store)

Advantages of using FoodGuardians

Cost efficiency vs. existing solutions
High durability with longer container life cycle
Secured food safety through track & trace on Blockchain
Sustainable and recyclable, reducing CO2 footprint
Longer runtime and performance than existing solutions leads to higher freshness level
Opening up new revenue streams by disrupting today’s delivery cold chain possibilities
Easy handling and recharging (plug free and are automatically recharged in a cooling chamber, reefer container or reefer truck without any manual interference)

Each FoodGuardians container can be tracked around the world on:

Logistics milestones
Temperature
Humidity
Specifications
History
Documentation

The phrase “Imagine your tomatoes tasting 1 day ‘fresher” has been used by the CEO a couple times, and is more or less the FoodGuardian slogan. This is referring to the fact that not only can FoodGuardian and SkyCell containers save cost, CO2, and man/brainpower, but they can also make shipments faster when combined with the blockchain (LOGI Chain) and Smart Contracts. when everything is accounted for at every second with almost as little room for human error as possible, things are far more efficient.

We are launching our first food application – we will announce a collaboration before June for a solution that can be used to ship overnight online fresh food to people homes and can be used to supply hospitals and restaurants as well.

FoodGuardians and SkyCell are two of the many possible use-cases for SmartContainers' tech:

"Other use cases. Yes indeed. We are just getting started!! However, it makes sense to focus on scaling SkyCell and FoodGuardians before starting something new. In the end we are a tech company. We have defined 7 use cases around the insulation technology. We have started with the most relevant 2 but will certainly continue."

SkyCellONE

SkyCell is looking to bring a business-to-consumer solution to market, that was developed and tested with one of the top 20 pharma companies in the world. The direct to patient market is estimated to increase to a 2.5 billion USD market in the future, with no other competition yet aside from styrofoam containers that are disposed of after one use. The SkyCell ONE can also be co-branded by a partner, such as a pharmacy chain that could rent it out for home delivery, business trips or even holidays.
The product is temperature stable for up to 72 hours, can be recharged passively in a fridge, or temp-controlled warehouse or truck. Currently it’s best in class for size and weight, but that’s probably down to there being no competition! Trials have been undergoing since June 2017 with an orphan drug product, and go live is expected in Q2 2018. - Cryptowithoutborders article

The SkyCell ONE container is showcased HERE
THIS could be a massive money maker. There is currently no direct pharma-2-consumer shipping service, because it really wasn’t profitable, or manageable on a central database. They can even sell this product to other supply chain entities to use. The direct to patient market is estimated to increase to a 2.5 billion USD market in the future, with no other competition yet, aside from styrofoam containers that get disposed of after a single
Q&A: Smart Containers’ Richard Ettl on Blockchain, Pharma, and how His Company’s Hardware and Software is Disrupting the Logistics Industry - Nexchange.com

We are launching also additional sizes – so we are launching a very small box to ship pharma directly to patients' homes. Amazon just recently announced that they will postpone entering the pharma distribution space, as they do not have the technology to ship to patients homes in a temperature controlled manner. We are bringing this to market later this year. This will increase the convenience of patients and reduce the costs in the healthcare system.

Organs

I just finished listening to this podcast (20 minutes long, but you can skip the intro stuff to make it shorter of course). I’m now twice as excited as I was before. I’m going to type out a large chunk of the podcast. I’ll be paraphrasing slightly, so I don’t have to type every “uhh” or anything, plus he sometimes starts one sentence before finishing another.

“We have some prototypes, that we built, for example, for the Children’s Hospital here in Zurich, where we’ve designed a container that can transport living skin.” [Interviewer; “Wow.”] “So for young children that suffer skin diseases that could be almost fatal, like cancer, they grow this… patch of skin, and then that skin needs to be transported, and kept at body temperature so… roughly 37 degrees Celsius. There we designed them a box that did this for 10 days, autonomously.” [“That’s amazing…”] “Yeah, we did this because we wanted to learn how to interact and work with hospitals, this is a highly specialized application, and the next step could be organ logistics, because most of the organs today are transported on ice, because that’s the standard set in the 70’s, but studies have shown that if your transport certain tissue at room temperature, it is significantly better for the tissue than if you transport it on ice.”

I can guarantee you every major hospital on earth is going to want their hands on this container that can allow them to transport both living skin, and potentially organs in the future. The fact that in this day and age we’re still throwing people’s kidneys/lungs/etc in a bucket of ice is a little weird.
From the recent AMA:

Our Container BT5: The name stands for Body Temperature 5 L content. It transports skin grafts that was cultured for children with burn accidends. The temperature range is 37°c. Nico (our CTO) was so taken by this project, that he developped this container only for this purpose for a company calles Cutiss (a start-up from Zurich). We currently only have around 10 of these containers in use. It is not produced in on a large scale. We could market it, but have bigger opportunities to tackle first with the SkyCell one. You can only focus on 1-2 projects at a time. The BT5 is a beautiful project, but will need manpower to scale production and then manpower to market it.

Competition

Envirotainer, The leading company in this field, has only a matter of time before they’re overtaken. SmartContainer Group’s containers are proven to be superior (5x as efficient, 35% lighter, self-charging, etc, etc, read up above for the whole deal). According to the Googles, Envirotainer’s best year (2015) saw a profit of $50,000,000. It’s logical to assume that Smartcontainers will surpass them as the top dog, and at the same time be pulling in much more profit over time by serving both pharma, and the food industry (Envirotainer only does pharma). By accepting cryptocurrency payments, saving them a fair bit in fees from cross border payments, they’ll also net a small % more in profits annually.
I asked about the state of their competition. Turns out, Envirotainer (or more specifically the private equity firm that owns them) offered SmartContainers a buy out of $125m. This was one of countless offers they've turned down, because they believe they can scale the company to much further value. The firm selling Envirotainer has been trying to find a buying for the past 3 years, at $1b. No one will buy them, because anyone who knows their shit in that industry knows SmartContainers will overtake them in no time.
From April's AMA:

Our 2 biggest competitors are for sale. Envirotainer (biggest player) is owned by a Private Equity company that wants to sell it for 1 b USD. it already tries to sell for 3 years. SkyCell is considered a threat to the valuation of Envirotainer, since we are winning one client after the other from them. While Envirotainer is the largest player with a huge sales force and well established client contacts, they are still operating on an "old" technology. SkyCell is technology leader, has lighter containers, reduces CO2 emissions and is considered to be the future.

2 days ago, a private equity company requested a meeting to see the valuation of SkyCell and evaluate to buy. We have already been approached several times. We are treated as the bride in the market. However, Richard and Nico think we can scale the business much more before we should consider to sell. We are just getting started.

We have won 3 large accounts in Q1. Today we have 1200 containers. By the end of the year, it will be 2000. Our business plan estimates that SkyCell will be profitable in 2019. Therefore you can expect first dividends in Q1 2020.

Official Projections

Another redditor asked for "optimistic expectations for potential profits" during their ama, here was their answer:

How does a profit of 21 m USD on Smart Containers total in 2020 sound? This figure will then quadruple in 2021 to 76 m USD.

As you can see, this would mean that by 2021 tokenholders would not even have broken even yet. I myself am fine with this, i'm expecting to hold SMARC until the end (be it I die or the company sells, in which case i'll enjoy that fat exit payout). The potential gains from 2020-2030 are far more worth it to me than trying to make it in one year with heavy risk.
So why invest in this over a random shitcoin that might moon? If you're here to turn $1000 into $1m and get out by the end of the year, good luck, don't invest in smarc. If you're realistic and are aware that crypto will only be so volatile for so long, go ahead and think about putting a bit of your portfolio in something that will have actual value, lasting long after the shitcoins die. Crypto market could crash at any time, but that doesn't mean that SmartContainers as a company goes anywhere, nor their profits. I don't think I need to explain any further.

So…

A 5 year old company, with over 100,000 collective hours of R&D put into their products, with currently just under 100 innovative patents, that is already the 4th largest of it’s kind in the world, with the top product in their field on earth, is doing an ICO that is fully backed by the Swiss government, with a token that is due 20% of all future shareholder payouts, as well as 20% of any potential exit profits (the company being purchased). They’re already this big, and you can benefit from both their success, and their expansion into new markets.
There’s nothing stopping SmartContainers Group/SkyCell/FoodGuardians from working with VeChain in the future either. Or Walton, or Wabi, Devery, OriginTrail, Ambrosus, all of em.

Links4U:

SmartContainers
https://smartcontainers.ch/
https://foodguardians.ch
https://skycell.ch/
Whitepaper
FAQ
Terms of Token Sale
CryptoWithBorders Article
Medium post reviewing SmartContainers
Interview with Richard Ettl, Co-Founder & CEO of Smart Containers on SMARC Token Sale | TechBullion
Interview with Richard Ettl - CryptoRich - Richard talks about some of their patents in this video, I think about 20 minutes in. Whole thing was worth watching imo
Podcast on how Blockchain + Smart Contracts will change how we ship things globally - 20 minutes, I REALLY recommend you listen through it, but do skip the intro if you want.
CEO Richard Ettl speaking at Crypto Finance Conference in St.Moritz - about 14 minutes, also highly recommend you watch this as well.
SkyCell Video
Strategic Advisor Oliver Bussman (President of the Crypto Valley Association, Former CIO of UBS and SAP), on SmartContainers
Marc Bettinger on why he took an advisory role with SmartContainers - (many may know him as "altcoindad")
Michael Guzik - Former 'Head of Blockchain' at PWC, current Head of ICO advisory at Lykke - why he's involved with the Smarc/Logi ICO
AMA with Carla Bünger - CMO & Business Development Manager of SmartContainers
AMA with Thomas Taroni - Head of IT of Smart Containers
Q&A w/ Richard Ettl - Nexchange

Should you invest in this? I sure am, and am very glad to even be offered the opportunity, but it’s up to you. Read through this post if you haven't yet, then click these links and decide for yourself. Don't go all in of course, since this is a profit share token, there is much less risk, therefore less short term reward. The long term reward is what we're looking at here, don't buy into the ICO and then complain that you aren't getting 1000% ROI payouts by year one.

Download Android Only Paid Apps - Week 14 2019, Now that we are at the 2019's 14th week we bring you a collection of paid android apps, and this collection has more than 140 paid and premium Android Applications.
For your convenience the Apk files have been uploaded into 3 separate selective ZIP files, enjoy!

Android Only Paid Apps [Week 14 2019] Part 1:

[Substratum] Mono Art v28 [Patched].apk
[Substratum] Vacuum Q Style v6.0 [Patched].apk
[Substratum] Valerie v12.2.0 [Patched].apk
Adguard - Block Ads Without Root v3.0.306_ [Nightly] [Premium].apk
Adobe Photoshop Lightroom CC v4.2.2 [Unlocked] ARM.apk
Adobe Photoshop Lightroom CC v4.2.2 [Unlocked] ARM64.apk
Adobe Photoshop Lightroom CC v4.2.2 [Unlocked] x86.apk
Adobe Spark Post Graphic design made easy v3.1.0 [Unlocked].apk
Alchemy for KWGT v2.2 [Paid].apk
AndrOpen Office v4.2.9 [Unlocked] Extensions.rar
AndrOpen Office v4.2.9 [Unlocked].apk
APK EXTRACTOR PRO v11.0.0 [Premium].apk
App Manager v4.35 [Donated].apk
Aubade Audio Studio v1.8.4 [Paid].apk
Audio MP3 Cutter Mix Converter v1.80 [PRO].apk
AutoMapa v5.4.2 (2315) need LP.apk
B1 Archiver zip rar unzip Pro v1.0.0132 [Unlocked].apk
Bass Guitar Tutor Pro v114 Marvin Gaye [Paid].apk
BeFunky Photo Editor Pro v6.2.8 [Paid].apk
Bookmark Folder v3.6.7 [Unlocked].apk
CalenGoo - Calendar and Tasks v1.0.177 build 1067 [Patched].apk
Camera ZOOM FX Premium v6.3.0 [Paid].apk
Cavion - Icon Pack v1.4 [Patched].apk
CCleaner Memory Cleaner, Phone Booster, Optimizer v4.13.1 build 714552401
[Professional Mod].apk
chomp SMS v8.5 build 9080502 [Pro].apk
CM Launcher 3D - Themes, Wallpapers v5.71.2 [Pro].apk
CM Launcher 3D - Themes, Wallpapers v5.74.1 [Pro].apk
Cube Call Recorder ACR Premium v2.3.147 [Premium].apk
Debt Manager and Tracker Pro v3.9.27-play-paid [Paid].apk
Do It Later - Text Message Automation v2.8.6 [Premium].apk
Do Not Disturb - Silent Mode Premium v5.2.0 [Patched].apk
Down Dog Great Yoga Anywhere v3.8.1 [Subscribed].apk
Downloader & Private Browser v3.0.0.171 [Premium].apk
Draw Pixel Art Pro v3.22 [Paid].apk
DWG FastView-CAD Viewer & Editor v3.2.1 [Premium].apk
Edge [substratum] v7.0 [Patched].apk
ENIX - Icon Pack v1.4 [Patched].apk
ePSXe for Android v2.0.11 [Beta-2] [Paid].apk
eWeather HD - weather, hurricanes, alerts, radar v7.9.0 [Patched].apk
FBReader Premium - Favorite Book Reader v3.0.7 [Final] [Patched].apk
Fish Live Wallpaper 3D Aquarium Background HD PRO v1.1 [Paid].apk
Flamingo for Twitter v17.6 [Patched].apk
Flashlight v20.10-r15 [Paid].apk
Fleksy - Emoji & GIF keyboard app v9.8.0 build 2790 [Premium].apk

Android Only Paid Apps [Week 14 2019] Part 2:

Friendly for Facebook v4.0.01 build 573 [Unlocked] ARM.apk
Friendly for Facebook v4.0.01 build 573 [Unlocked] ARM64.apk
Fuchsia KWGT - Gradient Based Widgets v3.2 [Paid].apk
Greyscale - Substratum Theme v5.2 [Patched].apk
iPhonize Notch for iPhone X, S10 Xs Theme v2.12 [Premium].apk
JRiver for Android v25.0.19 [Paid].apk
Kraken TV v1.4.11 build 23 [Mod] no Location.apk
Kraken TV v1.4.11 build 23 [Mod].apk
Ksana Sweep Watch Face for Wear OS v1.6.5 [Paid].apk
L Speed (Boost&Battery) [ROOT] v2.0.6 [Final] [Mod].apk
LazyMedia Deluxe v2.67 [Pro] Ru.apk
Learn Spanish with MosaLingua v10.34 [Paid].apk
Live Wallpapers HD & Backgrounds 4k 3D - WALLOOP v9.0 [Mod Premium] Proper.apk
Lucky Patcher v8.2.6 Installer.apk
Lucky Patcher v8.2.6 Standalone.apk
Lucky Patcher v8.2.6.apk
Magic DosBox v1.0.77 [Paid].apk
Maps - Navigate & Explore v10.12.3 [Final].apk
Master for Minecraft(Pocket Edition)-Mod Launcher v2.1.95 [Unlocked].apk
Mate UI - Material Icon Pack v1.67 [Patched].apk
Mation - Icon Pack v1.6.2 [Patched].apk
Mconnect Player – Google Cast & DLNA UPnP v3.1.1 [Paid].apk
MiMind - Easy Mind Mapping v2.15 [Pro].apk
Mobile Print - PrinterShare v11.22.0 [Premium].apk
Money Lover Expense Manager & Budget Planner v3.8.86.2019040510 [Premium].apk
Moneycontrol - Stocks, Sensex, Mutual Funds, IPO v6.0.0 [Unlocked].apk
Mubert v2.5 [Pro].apk
Music Player - Mp3 Player v4.0 build 4003 [Premium].apk
Mute Camera Pro v1.5.0 [Paid].apk
MX Player Pro v1.10.50 [Paid] ARM need LP.apk
MX Player Pro v1.10.50 [Paid] x86 need LP.apk
My Day - Countdown Calendar v2.9.8 [Unlocked].apk
N Docs - Office, Pdf, Text, Markup, Code, Ebook v4.3.3 [Mod].apk
NewsFeed Launcher v3.4.302 [Paid].apk
Night Vision Camera (Photo and Video) v1.7.1 [Pro].apk
Nineteen vonehundredthirtyfive [Patched].apk
Notes v8.4.5 [Donate].apk
Nova Launcher v6.1.5 [Beta] [Prime] Tesla.apk
Nova Launcher v6.1.5 [Beta] [Prime].apk
Offline Maps & Navigation v17.7.4 [Original].apk
Offline Maps & Navigation v17.7.4 [Unlocked] BASE.rar
Offline Maps & Navigation v17.7.4 [Unlocked] MAPS.rar
Offline Maps & Navigation v17.7.4 [Unlocked].apk
Oxygen 8.0 Substratum Theme v73.2 [Patched] - PitchBlack.apk
PeakFinder AR v3.6.5 [Patched].apk
Phonto - Text on Photos v1.7.22 [Pro].apk
Photo Studio PRO v2.0.23 [Paid].apk
Photo Translator v7.0.1 [Pro].apk
Physics Toolbox Sensor Suite Pro v1.9.3.5 build 69 [Paid].apk
Pixel Icons v1.6.4 [Patched].apk
Polycon Icon Pack - Fruity v1.0 [Patched].apk
Pushbullet - SMS on PC v18.2.8 [Beta] [Pro].apk
Q Alerts QAnon Drop Notifications, Research +++ v7.2.2 [Paid].apk
QR & Barcode Reader (Pro) v2.2.2-P [Paid].apk

Android Only Paid Apps [Week 14 2019] Part 3:

Quick Video Recorder v1.3.1.2 [Pro].apk
QuickBend Conduit Bending v3.1.0 [Paid].apk
QuitNow! PRO - Stop smoking v5.101.5 [Paid].apk
Radio FM Player - TuneFm v1.6.13 [Premium].apk
Reduce Neck Pain v7.0 [Paid].apk
Relay for reddit (Pro) v9.5.9 build 397 [Paid].apk
Remote Control for All TV v1.1.13 [Premium].apk
Rhonna Designs v2.42.1 [Paid].apk
Rhonna Designs v2.42.1 [Paid]-OBB.rar
RunKeeper - GPS Track Run Walk v9.8.3 [Elite].apk
Scientific Calculator Complex Number Calculator v1.3 [Paid].apk
Screenshot Pro - Quick Capture v3.3.0 [Paid].apk
SD Maid - System Cleaning Tool v4.14.0 [Beta] [Pro] LIC.apk
SD Maid - System Cleaning Tool v4.14.0 [Beta] [Pro] Unlocked.apk
SD Maid - System Cleaning Tool v4.14.0 [Beta] [Pro].apk
Sesame - Universal Search and Shortcuts v3.4.0 [Beta-1] [Unlocked].apk
Seven - 7 Minute Workout v8.1.5 [Unlocked].apk
Shazam Encore v9.25.2-190404 [Paid].apk
SMS Auto Reply Text PRO - Autoresponder- Auto SMS v7.5.4 [Paid].apk
SMS Backup & Restore Pro v10.05.501 [Paid].apk
SofaScore Live Score v5.69.7 [Unlocked].apk
Sound Meter Pro v2.5.9 [Patched].apk
Spheroid Icon v2.2.5 [Patched].apk
Stop Call Me - Community Call Blocker v1.9.0 [Pro].apk
Stop Motion Studio Pro v.5.1.0.7859 [Paid].apk
StorySave v1.23.2 [Pro].apk
SunTrajectory.net v2.9l [Paid].apk
Swift Black Substratum Theme +Oreo & Samsung theme v25.7 [Patched] Pie.apk
Swift Dark Substratum Theme +Oreo & Samsung theme v25.7 [Patched] Pie.apk
Swift Installer - Themes & color engine v9.29 [Patched].apk
Swift Minimal for Samsung - Substratum Theme v25.7 [Patched] Pie.apk
Tasker v5.7.0 [Beta-11] [Paid].apk
Tasker v5.7.0 [Beta-12] [Paid].apk
The Guardian v6.19.1952 [Subscribed].apk
Tool Box v1.7.3.A [Paid].apk
Touch Protector (to prevent unintended operations) v4.3.1 [Donate].apk
Translucent Substratum Theme v3.60 [Patched].apk
Tweetings for Twitter v12.0.2 [Patched].apk
Unit Converter v2.1.84 [Premium].apk
Virtuagym Fitness Tracker - Home & Gym v7.3.1 [Pro].apk
Waze - GPS, Maps, Traffic Alerts & Live Navigation v4.50.0.0 [RC].apk
Weather Elite by WeatherBug v5.9.2-12 [Paid].apk
Weather Forecast Pro Timeline, Radar, MoonView v2.3 [Paid].apk
Weather&Clock Widget Ad Free v4.0.1.2 [Paid].apk
Whicons - White Icon Pack v9.16.0.apk
WiFi Password Viewer [ROOT] v1.0 [Pro] Lite.apk
WiFi Password Viewer [ROOT] v1.0 [Pro].apk
Yandex.Transport v5.14 [Lite Mod] x86.apk
Yandex.Transport v5.14 [Lite Mod].apk
YoWindow Weather v2.12.14 [Paid].apk
Zest Web Browser - Ad Blocker, Fast & Private v2.0.19 [Paid].apk

Download Links:

Android Only Paid APPs - Week 14 2019 Part 1 (996 MB): Download Link 1 / Download Link 2 / Download link 3
Android Only Paid APPs - Week 14 2019 Part 2 (1.1 GB): Download Link 1 / Download Link 2 / Download link 3
Android Only Paid APPs - Week 14 2019 Part 3 (1.2 GB): Download Link 1 / Download Link 2 / Download link 3
Download More Apps Collection!
Originally Uploaded by: AndroGalaxy

- Credit to Haramburglar for this post, and for giving me the notepad file he wrote it in so I could share it where I wished, without even asking for credit
Okay, so this is going to be really long in terms of posts here. I actually have to cut out some info to make it under 40000 characters for reddit...
Typically in the market there are Currency and Utility coins. Profit-Share Tokens are relatively new, and while this ICO has 2 tokens, the profit share token is definitely the main attraction, as it's tied to a very, very promising company. This company is SmartContainers Group, and their tokens are SMARC (profit-share token) and LOGI (more on LOGI later).
“Smart Containers Group, formerly REP AG (Swiss registry of commerce, UID: CHE- 141.664.882), is a Swiss based, high tech company that provides the safest temperature controlled containers to transport sensitive pharma goods and food around the world. Our purpose is to secure sensitive goods and to make sure no compromised product is ever delivered to anyone.” - whitepaper

Product

SmartContainers Group is a holding company for SkyCell.
SkyCell is the company Smart Containers Group uses to rent/sell their containers to clients around the world.

Our containers transport some of the most expensive and temperature-sensitive goods in the pharmaceutical industry. These goods need a particularly careful and accurate protection. Through our highly secure and efficient container design, we assure the best possible protection against temperature excursions. In combination with a cutting-edge technology, it enables us to provide containers with easy handling, maximum loading capacity and highest performance on the market.

More than 50 man-years of research and development poured into the creation of an unprecedented, highly efficient insulation. This cutting-edge technology reflects a maximum of radiation while minimizing heat conducting. It is the most patent protected insulation technology on the market.

The ingenious SkyCell R&D team invented a completely new, cooling technology, that stores five times more energy than traditional methods to keep the container at a steady temperature. Consequently, SkyCell containers are automatically recharged in a cooling chamber without any manual interference. Nothing can be mixed up since all parts are integrated and fixed.

The ingenious SkyCell R&D team invented a completely new, cooling technology, that stores five times more energy than traditional methods to keep the container at a steady temperature.

“oh, our product needs better cooling? Okay, let’s just invent a better cooling technology, no biggie”. Who heads that team, Rick Sanchez?
I asked about this tech during their AMA, here's what they said:

Cooling technology: Yes, our containers are state of the art. Nico has developed a cooling material that freezes at 5.5°C. So if you put it in a cooling chamber that has a lower temperature, it automatically freezes and if the temperature is higher it melts. Basically, the system works like a huge ice cube that is empty in the middle. The centre of the ice cube has a steady temperature of 0° until at least 1 side of the ice cube has melted. It's the same principle for SkyCell containers, but at 5.5°C

The patented-in house developed cooling technology stores five times more energy than traditional methods to keep the container at a consistent temperature. After use, they are ‘recharged’ in a cooling chamber without any need for manual intervention, increasing productivity of the business and reducing cost.

I’ve forgotten to mention something so far about their product [the containers]. They’re literally (not figuratively, literally) the most advanced container ON EARTH.

From their ICO FAQ: Where do you position yourself compared to Envirotainer? Envirotainer is the number one container company with the largest container fleet today. We are currently fourth globally, but we reached this position in less than 5 years operating in this space. SkyCell containers have been tested and shown to be technologically superior to Envirotainer containers (5x more runtime, up to 35% lighter) which translates into safer pharma distribution and cost savings as well as a reduced CO2 footprint.

We are currently fourth globally, but we reached this position in less than 5 years operating in this space.

Another thing that’s pretty impressive, 4th largest company in their entire field… after just 5 years… but back to the main point of that statement: “SkyCell containers have been tested and shown to be technologically superior to Envirotainer containers (5x more runtime, up to 35% lighter) which translates into safer pharma distribution and cost savings as well as a reduced CO2 footprint.”.

Watching a video from a blockchain conference in Switzerland, I got a fair bit of info from the CEO, Richard. I’ll be quoting him in that video a few times in this post, and here’s the first: “In my industry, we talk about how many shipments go wrong - and the average is 8.5%. So for 8.5% of pharma shipments for example, the [proper] temperature is not maintained. In our case [with Smart Containers], it’s less than 0.1%. That’s 75 times better. Richard also speaks in this video about how they will be able to eliminate the amount of shipments happening every year, due to the decentralized nature of this whole system, there will be less need to send packages to places far from their end destination, to make the delivery easier on the shipping side. We’ve all had packages come from across the ocean, only for it to fly 1500 Km past us to be shipped back our way next week…

LogiChain

”There are 200 documents are required, or exchanged, to make one shipment happen… we estimate we can bring this down to 8” Richard Ettl, CEO
Logistics is an old industry. it started out on paper, moved through the fax, early ages of the information era, early email, current email, and is now ready to move onto the blockchain.
LOGI CHAIN GOALS

Eliminate paper and disconnected information like email from the shipment process
Automate billing throughout the supply chain and reduce transaction fees by accepting cryptocurrencies as payment
Provide services for the whole logistics community, including logistics players, airlines, sea freight companies, customs brokers and more

“By using blockchain technology, we can decentralize logistics and create autonomous containers – container 4.0. This container will know who’s renting it, when the contract ends and when to invoice the customer. That’s why we’ve created the LOGI CHAIN platform. It allows us to create a seamless, fully integrated, digital logistics process that everyone can use for free.” - Richard Ettl, CEO
“Well-established processes often generate inefficiencies that we simply accept. And of course everyone knows change is painful. But at Smart Containers, we see things differently. Change is the only way to improve. We think that every process should not only be optimized but redefined and redesigned. Logistics today is highly centralized. It’s incredibly inefficient. So many wasted kilometers to huge warehouses.” Nico Ros, CTO

There will be more than one blockchain at play with this system as well. The info that people deserve to know will be available on a public blockchain like Ethereum, the weight, material safety data sheets, the storage conditions (which as said up above, 8.5% of pharma shipments have issues with, and Smart Containers brings that down to below 0.1%), as well as at the same time, the info that shouldn’t be public to everyone (Bills, invoices, etc) would be stored on a blockchain like Fabric or HyperLedger. LOGI will be the fuel for the LOGI Chain.
CMO Carla elaborating on LogiChain:

The LOGI project finds good echoes with logistics players but even more with blockchain infrastructures like NEM, EOS and NEO.
Emirates for once was enthusiastic about the project and definitely wants to join the foundation. As you know, the government of Dubai is focussing on applying blockchain asap to multiple industries.
We are also in exchange with ShipChain, who are running a similar project in the US. Our goal is to collaborate with a maximum of projects around the world.
The LOGI Chain Foundation will be set up in July, right at the end of the ICO. Dr. Fabian Schär, our valued Advisor, will be in charge of defining how the LOGI Chain Foundation will develop in the next 2-3 years. We think that we will be able to put out a PoC based on SkyCell until the end of the year.
We have not yet decided on which blockchain platform to build the LOGI CHAIN. We are highly delighted with NEM since they are already operative and offer a private and public blockchain on the same protocol.

One Chain to Connect them all - LOGI CHAIN

One platform to get all players up to speed, to handle all documents and permissions in one place. No more floods of emails. No more polluting the environment with senseless printing of documents. No more compatibility problems and clashes of individualized systems.
To show you how vast the amount of documents (and by this emails circulated) find a list of common documents needed for one air freight shipment below:
Documents of origin, Material safety sheet, Airway bill, Bill of lading, Transport order, Customs declaration documents & bills, Invoices, Product data sheet, Storage conditions, Transport conditions, Multiple service provider billings, Licenses, etc.
This adds up to the gigantic number of about 200 manually processed emails per shipment.

A combination of public and permission based chains will allow for all players in the ecosystem to store documents needed in the logistics processes. We are looking at multiple platforms to build the LOGI CHAIN on top including NEM, Fabric, Corda, EOS and NEO.

Team

I’ll be using bits and pieces taken from their white paper and LinkedIn pages.
The Smart Containers team includes over 80 people, and is growing every year.
Richard Ettl - Co-Founder, CEO - LinkedIn
Richard wanted to know how things worked since he was a child. He has a passion for engineering and management. Growing up in Vienna, Austria and studying in Stanford USA and the University of Fribourg, Switzerland, he started his career at Bobst Group, a leading producer of packaging machines worldwide. In 2009, he decided to launch his own business together with his university friend Nico. After wide reaching scientific research and various proof of concepts, they founded today’s Smart Containers Group as well as SkyCell in 2012. Since then he has lead the companies to commercial success, seamlessly finding the right partners and investors at crucial points, as well as convincing more and more clients of the unrivaled benefits of the SkyCell offer

Nico Ros - Co-Founder, CTO - LinkedIn
Nico Ros, Chief Technology Officer & Co-Founder Nico is the mastermind behind Smart Containers Group and its technology. Growing up in Basel, Switzerland, he discovered his passion for mathematics very early on and therefore came to study mathematics, physics and engineering. Being a natural talent, he had already won prestigious architectural prizes during his studies and quickly became managing partner at ZPF an engineering company in Basel. He has constructed the most expensive buildings in Switzerland in collaboration with the famous architects Herzog & DeMeuron. Nico’s key strength lies not only in his state of the art engineering know how but also in his efficient management of teams, leading highly complex, multimillion projects to success. However, engineering alone did not suffice Nico. Having a passion for business and management, he decided to complete additional studies at the University of Fribourg, meeting Richard along the way. Everyone who meets Nico rapidly becomes aware of his sharp mind and his passion to invent new technologies. It is therefore not surprising, that both him and Richard ended up together where they are today.

Andreas Ernst - CFO - LinkedIn
Andreas is the true logistic finance expert in the company. He spent all his career in various finance roles of logistic service providers: from Swissair (today Swiss International Airlines), to Swissport (biggest ground service provider for airlines) where he filled the role as regional CFO for the Middle East and Africa. His last role before joining Smart Containers Group was CFO of Unitpool (now called Unilode), which is the largest independent air-freight container pooling company in the world.

Thomas Taroni - Head of IT - LinkedIn
Thomas is an IT-architecture mastermind. His first claim to fame is the creation of the largest media database, shared by all media houses in Switzerland: more than two million articles are uploaded every year, then queried and shared seamlessly and efficiently among multiple news companies. He founded his own IT company to design IT architectures focusing on process automation (eliminating paper and endless emails), and as a result won other clients (large banks, pharma companies and even publicly tendered government contracts). SkyCell became his client, when they needed a bespoke asset management system to track and trace their containers around the world. He joined SkyCell four years ago and since his tenure, has become the head of IT for all companies of Smart Containers Group.

Carla Bünger - CMO & Business Development Manager - LinkedIn
Carla is a marketing and sales expert. Building strong brands on solid foundations and convincing clients to buy its underlying products gives her huge satisfaction. She collected her experience through managing various international consumer brands, for companies such as Nestlé, Lindt and Coty. However, she discovered her passion for Blockchain technology roughly 18 months ago and has since been actively participating in the com - munity of Crypto Valley in Switzerland. The sheer endless application possibilities make her strive for more and she is drawing energy and enthusiasm from developing new business schemes around the subject. Her “can do” attitude helped to put together the high level advisory team around our ICO.

Advisors

Strategic advisor: Oliver Bussmann, is CEO and Founder of Bussmann Advisory, former CIO of UBS and SAP as well as the President of the Crypto Valley Association. “our main advisor” - Richard
Strategic advisor: Marc Bettinger, Altcoin and Blockchain specialist and investor, Co-Host Altcoin Meetup Switzerland (Bitcoin Association Switzerland)
Strategic Advisor: Fabian Schär is Managing Director of the Center for Innovative Finance at the University of Basel. His research focus is on the potential and applications of blockchain. In addition, he works as a lecturer in blockchain technology at the University of Basel, the University of Applied Sciences in Business Administration Zurich (HWZ) and the University of Applied Sciences Northwestern Switzerland (FHNW).

Technology Partner: Lykke Corp. our highly trustworthy expert in smart contract programming and ICO execution. (Lykke also audited their ICO smartcontract)
Legal Advisor: Gabriela Hauser-Spuehler was part of the team of MME, the well-known law firm in the crypto space.
Communication Advisor: David Wachsman and Emma Walker from Wachsman PR, the crypto community’s most experienced PR agency.
Richard also states they hired a lawyer that worked on the Ethereum ICO, but I don’t know if it’s Gabriela up there or another person.

Tokens

Min. investment = $500 USD for ICO, $5000 for presale (largest portion of supply), $250k for private sale.
There are two tokens as mentioned before: SMARC and LOGI. I’m more into SMARC because it’s safe (safe once the payouts start of course, as soon as a coin has a clear value like this, BTC moving up or down doesn’t matter to you), as well as obviously very attractive if you think of the long term profits.

Every year, the company’s annual shareholder meeting takes place, during which the shareholders will agree (or negotiate) on a proposal by the Smart Containers’ board about how much of the company profits is to be paid to the shareholders that year. 20% of that amount is taken, converted to ETH, and fairly distributed to the token holders.

Since the cofounders and all token holders will have aligned interests and incentives, we are all in a positive-sum-game. We do not want to use the ICO as a speculative springboard, but as way of funding innovation and change the world. Both Richard and Nico are committed for the long-term and not interested in a quick exit. Our aim is to use the collected funds to continue pushing the following business areas:

• Continue scaling of SkyCell in both B2B and B2C
• Establish FoodGuardians - the main goal if the ICO is to build and scale FoodGuardians
• Establish the of LOGI CHAIN Foundation
• Regularly evaluate organic scaling vs. M&A
• Evaluate IPO at relevant time

We are raising funds through an ICO to grow our container businesses in pharma and food. We push SkyCell from no. 4 to the no. 1 provider in the next 2-3 years.

The CEO in this video explains pretty easily why one would want to put money into this ICO over others:

“Why invest? [referring to SMARC] Simple question. It’s an up and coming company with revenue, multiple millions a year, most ICO’s have white papers…[we have much more than that].”

That's pretty clear. You can invest in random Xcoin ICO where they have some half-baked token that might see some level of adoption if it isn't just a cash grab, or you could invest in an actual multimillion-dollar company and be a part of it as it scales into what could potentially be a multibillion dollar entity.

The following is taken from the ICO, Legal, and Company FAQ

How will the profit share payouts work? 20% of dividends will be paid in ETH to all holders of SMARC tokens that are in circulation at the time of the payout. A given business year ends on 31st December each year with a general assembly held annually around mid-February. Therefore, dividend payout is expected around mid-March each year. In the event of a total sale of Smart Containers or the exit of one of its lines of business, the holders of SMARC tokens will receive a 20% participation of proceeds

Is there a future profit statement? No listed company can make an estimation or a commitment to a future return. To do so would neither be professional nor ethical. For Smart Containers, as with any company, profits may often depend upon a number of external factors, such as the general trust in blockchain technology. The question to be assessed is how fast a new disruptive technology can replace an old system. We believe that Smart Containers Group is well-positioned to facilitate this disruption, with a strong plan going forward and experienced team working to successfully implement blockchain technology in the supply chain. 5 years of industry experience, the 4th largest container fleet and a motivated team; that’s more than any idea whitepaper ICO.

What specific rights come with my investment? The SMARC token is a profit share token. When the company generates profits and the company’s general assembly approves a dividend payout, 20% of the defined funds attributed to dividends will be distributed proportionally to holders of SMARC tokens in circulation. In contrast, the LOGI token is a utility token that can be used to pay for transactions on the LOGI CHAIN, an open-source logistics platform for all stakeholders in the logistics field with the goal to create a seamless, fully integrated, digital logistics process.

Smart Containers will pay out a dividend to SMARC token holders. This would imply that the SMARC token is a security token. Are you compliant with financial regulation? Smart Containers tokens is not classified as a security in Switzerland under current law. This may be different in other jurisdictions such as the USA. Hence the SMARC token is not eligible for sale in certain jurisdictions. Our benchmark is the Modum token sale from June 2017. We have elected to use the same legal structure as it was accepted by regulators in Switzerland and well received by the ICO community and exchanges.

What is the vesting schedule for team and advisors tokens? Everyone will receive SMARC and LOGI tokens at the same time. Minting will occur at the end of the token sale. Advisors will have lock up periods depending on how many tokens they receive. Team members have a lock up period of 12 months.

Are SkyCell containers an approved ULD according to IATA regulations? SkyCell containers are exempt from the ULD rules by IATA. This has the huge advantage that, compared to our competitors, the SkyCell container can not only fly but can also leave the airport. Skycell containers are therefore a door-to-door solution. Our competitors’ containers, on the other hand, have to be unloaded at the airport and packed into a new transport unit in order to continue their journey from the airport to the final destination, increasing the risk of temperature excursion, and loss.

Are there financial statements? If so, are they audited, and by whom? Yes, there are financial statements for all our companies. They are audited by PricewaterhouseCoopers (PwC). To preserve our competitive advantage in the market, we have decided not to publish our financial figures online at this moment in time.

Are Modum and Smart Containers competitors? Modum and Smart Containers are not competitors, more future partners. Modum rents/sells sensors to track and trace shipments on temperature, whereas Smart Containers rents/sells the containers, in which products including sensors are put inside. Of course our containers have sensors that record data for quality control, but Smart Containers does not sell these data sets. In the end Modum and Smart Containers will address to the same clients - Smart Containers provides the container and Modum will put a sensor in it.

How many airlines fly SkyCell containers? In addition to our major partners, Emirates and CargoLux, more than 30 airlines fly SkyCell containers.

What destinations does SkyCell serve? SkyCell is a global company. We are shipping containers around the world and reach each pharma client within 24-48 hours. This is accomplished through our airline partners, that can fly ready-to-use containers to more than 150 airports.

Profit Sharing Mechanism

During the annual shareholder meeting, the shareholders in the form of the general assembly (Annual General Assembly) decide on a proposal by Smart Containers’ board regarding the usage of profit as recognized in the annual financial statements of Smart Containers in the form of distribution of dividends. Distribution of a dividend on shares shall be announced in the “Tokenholder Information” section of the Smart Containers website; such announcement shall include the date and time of the dividend payment and the dividend amount per ordinary share in USD as well as the ETH/USD exchange rate which shall become applicable, as derived from publicly available and reliable quotes. Within 20 business days of the date of the resolution passed by the Annual General Assembly regarding dividend payments to the shareholders of Smart Containers, Smart Containers will make available a Profit Share Amount to each authenticated Tokenholder equal to 20% (twenty percent) of all dividends agreed to being distributed per share to the shareholders, divided by the total number of issued SMARC Tokens (To further explain for clarity, all Tokenholders combined will receive an amount equal to 20% of the amount received by all shareholders combined.). SMARC Tokenholders shall receive these payments in ETH, at an average exchange rate specified by Smart Containers.

FoodGuardians

“Imagine your tomatoes tasting 1 day ‘fresher”.
One of the main reasons for the SMARC/LOGI ICO is to raise the funds to fuel the growth of FoodGuardians alongside SkyCell.
According to their CEO, SkyCell is constantly asked “can your containers be used for food?”, but there are several issues with shipping food and medicine together. This is where FoodGuardians comes in.

FoodGuardians offers the next generation of reusable containers and boxes to transport regionally and globally temperature sensitive food products.The combination of patented cooling technology, cutting edge insulation and Blockchain infrastructure allows to redefine the product’s freshness and traceability.

Our vision is to allow your local butcher to order your favorite steak directly from the producing farm and sending it straight to your grill party. (All without the buyer even leaving his home, let alone going to store)

Advantages of using FoodGuardians

Cost efficiency vs. existing solutions
High durability with longer container life cycle
Secured food safety through track & trace on Blockchain
Sustainable and recyclable, reducing CO2 footprint
Longer runtime and performance than existing solutions leads to higher freshness level
Opening up new revenue streams by disrupting today’s delivery cold chain possibilities
Easy handling and recharging (plug free and are automatically recharged in a cooling chamber, reefer container or reefer truck without any manual interference)

Each FoodGuardians container can be tracked around the world on:

Logistics milestones
Temperature
Humidity
Specifications
History
Documentation

The phrase “Imagine your tomatoes tasting 1 day ‘fresher” has been used by the CEO a couple times, and is more or less the FoodGuardian slogan. This is referring to the fact that not only can FoodGuardian and SkyCell containers save cost, CO2, and man/brainpower, but they can also make shipments faster when combined with the blockchain (LOGI Chain) and Smart Contracts. when everything is accounted for at every second with almost as little room for human error as possible, things are far more efficient.

We are launching our first food application – we will announce a collaboration before June for a solution that can be used to ship overnight online fresh food to people homes and can be used to supply hospitals and restaurants as well.

FoodGuardians and SkyCell are two of the many possible use-cases for SmartContainers' tech:

"Other use cases. Yes indeed. We are just getting started!! However, it makes sense to focus on scaling SkyCell and FoodGuardians before starting something new. In the end we are a tech company. We have defined 7 use cases around the insulation technology. We have started with the most relevant 2 but will certainly continue."

SkyCellONE

SkyCell is looking to bring a business-to-consumer solution to market, that was developed and tested with one of the top 20 pharma companies in the world. The direct to patient market is estimated to increase to a 2.5 billion USD market in the future, with no other competition yet aside from styrofoam containers that are disposed of after one use. The SkyCell ONE can also be co-branded by a partner, such as a pharmacy chain that could rent it out for home delivery, business trips or even holidays.
The product is temperature stable for up to 72 hours, can be recharged passively in a fridge, or temp-controlled warehouse or truck. Currently it’s best in class for size and weight, but that’s probably down to there being no competition! Trials have been undergoing since June 2017 with an orphan drug product, and go live is expected in Q2 2018. - Cryptowithoutborders article

The SkyCell ONE container is showcased HERE
THIS could be a massive money maker. There is currently no direct pharma-2-consumer shipping service, because it really wasn’t profitable, or manageable on a central database. They can even sell this product to other supply chain entities to use. The direct to patient market is estimated to increase to a 2.5 billion USD market in the future, with no other competition yet, aside from styrofoam containers that get disposed of after a single
Q&A: Smart Containers’ Richard Ettl on Blockchain, Pharma, and how His Company’s Hardware and Software is Disrupting the Logistics Industry - Nexchange.com

We are launching also additional sizes – so we are launching a very small box to ship pharma directly to patients' homes. Amazon just recently announced that they will postpone entering the pharma distribution space, as they do not have the technology to ship to patients homes in a temperature controlled manner. We are bringing this to market later this year. This will increase the convenience of patients and reduce the costs in the healthcare system.

Organs

I just finished listening to this podcast (20 minutes long, but you can skip the intro stuff to make it shorter of course). I’m now twice as excited as I was before. I’m going to type out a large chunk of the podcast. I’ll be paraphrasing slightly, so I don’t have to type every “uhh” or anything, plus he sometimes starts one sentence before finishing another.

“We have some prototypes, that we built, for example, for the Children’s Hospital here in Zurich, where we’ve designed a container that can transport living skin.” [Interviewer; “Wow.”] “So for young children that suffer skin diseases that could be almost fatal, like cancer, they grow this… patch of skin, and then that skin needs to be transported, and kept at body temperature so… roughly 37 degrees Celsius. There we designed them a box that did this for 10 days, autonomously.” [“That’s amazing…”] “Yeah, we did this because we wanted to learn how to interact and work with hospitals, this is a highly specialized application, and the next step could be organ logistics, because most of the organs today are transported on ice, because that’s the standard set in the 70’s, but studies have shown that if your transport certain tissue at room temperature, it is significantly better for the tissue than if you transport it on ice.”

I can guarantee you every major hospital on earth is going to want their hands on this container that can allow them to transport both living skin, and potentially organs in the future. The fact that in this day and age we’re still throwing people’s kidneys/lungs/etc in a bucket of ice is a little weird.
From the recent AMA:

Our Container BT5: The name stands for Body Temperature 5 L content. It transports skin grafts that was cultured for children with burn accidends. The temperature range is 37°c. Nico (our CTO) was so taken by this project, that he developped this container only for this purpose for a company calles Cutiss (a start-up from Zurich). We currently only have around 10 of these containers in use. It is not produced in on a large scale. We could market it, but have bigger opportunities to tackle first with the SkyCell one. You can only focus on 1-2 projects at a time. The BT5 is a beautiful project, but will need manpower to scale production and then manpower to market it.

Competition

Envirotainer, The leading company in this field, has only a matter of time before they’re overtaken. SmartContainer Group’s containers are proven to be superior (5x as efficient, 35% lighter, self-charging, etc, etc, read up above for the whole deal). According to the Googles, Envirotainer’s best year (2015) saw a profit of $50,000,000. It’s logical to assume that Smartcontainers will surpass them as the top dog, and at the same time be pulling in much more profit over time by serving both pharma, and the food industry (Envirotainer only does pharma). By accepting cryptocurrency payments, saving them a fair bit in fees from cross border payments, they’ll also net a small % more in profits annually.
I asked about the state of their competition. Turns out, Envirotainer (or more specifically the private equity firm that owns them) offered SmartContainers a buy out of $125m. This was one of countless offers they've turned down, because they believe they can scale the company to much further value. The firm selling Envirotainer has been trying to find a buying for the past 3 years, at $1b. No one will buy them, because anyone who knows their shit in that industry knows SmartContainers will overtake them in no time.
From April's AMA:

Our 2 biggest competitors are for sale. Envirotainer (biggest player) is owned by a Private Equity company that wants to sell it for 1 b USD. it already tries to sell for 3 years. SkyCell is considered a threat to the valuation of Envirotainer, since we are winning one client after the other from them. While Envirotainer is the largest player with a huge sales force and well established client contacts, they are still operating on an "old" technology. SkyCell is technology leader, has lighter containers, reduces CO2 emissions and is considered to be the future.

2 days ago, a private equity company requested a meeting to see the valuation of SkyCell and evaluate to buy. We have already been approached several times. We are treated as the bride in the market. However, Richard and Nico think we can scale the business much more before we should consider to sell. We are just getting started.

We have won 3 large accounts in Q1. Today we have 1200 containers. By the end of the year, it will be 2000. Our business plan estimates that SkyCell will be profitable in 2019. Therefore you can expect first dividends in Q1 2020.

Official Projections

Another redditor asked for "optimistic expectations for potential profits" during their ama, here was their answer:

How does a profit of 21 m USD on Smart Containers total in 2020 sound? This figure will then quadruple in 2021 to 76 m USD.

As you can see, this would mean that by 2021 tokenholders would not even have broken even yet. I myself am fine with this, i'm expecting to hold SMARC until the end (be it I die or the company sells, in which case i'll enjoy that fat exit payout). The potential gains from 2020-2030 are far more worth it to me than trying to make it in one year with heavy risk.
So why invest in this over a random shitcoin that might moon? If you're here to turn $1000 into $1m and get out by the end of the year, good luck, don't invest in smarc. If you're realistic and are aware that crypto will only be so volatile for so long, go ahead and think about putting a bit of your portfolio in something that will have actual value, lasting long after the shitcoins die. Crypto market could crash at any time, but that doesn't mean that SmartContainers as a company goes anywhere, nor their profits. I don't think I need to explain any further.

So…

A 5 year old company, with over 100,000 collective hours of R&D put into their products, with currently just under 100 innovative patents, that is already the 4th largest of it’s kind in the world, with the top product in their field on earth, is doing an ICO that is fully backed by the Swiss government, with a token that is due 20% of all future shareholder payouts, as well as 20% of any potential exit profits (the company being purchased). They’re already this big, and you can benefit from both their success, and their expansion into new markets.
There’s nothing stopping SmartContainers Group/SkyCell/FoodGuardians from working with VeChain in the future either. Or Walton, or Wabi, Devery, OriginTrail, Ambrosus, all of em.

Links4U:

SmartContainers
https://smartcontainers.ch/
https://foodguardians.ch
https://skycell.ch/
Whitepaper
FAQ
Terms of Token Sale
CryptoWithBorders Article
Medium post reviewing SmartContainers
Interview with Richard Ettl, Co-Founder & CEO of Smart Containers on SMARC Token Sale | TechBullion
Interview with Richard Ettl - CryptoRich - Richard talks about some of their patents in this video, I think about 20 minutes in. Whole thing was worth watching imo
Podcast on how Blockchain + Smart Contracts will change how we ship things globally - 20 minutes, I REALLY recommend you listen through it, but do skip the intro if you want.
CEO Richard Ettl speaking at Crypto Finance Conference in St.Moritz - about 14 minutes, also highly recommend you watch this as well.
SkyCell Video
Strategic Advisor Oliver Bussman (President of the Crypto Valley Association, Former CIO of UBS and SAP), on SmartContainers
Marc Bettinger on why he took an advisory role with SmartContainers - (many may know him as "altcoindad")
Michael Guzik - Former 'Head of Blockchain' at PWC, current Head of ICO advisory at Lykke - why he's involved with the Smarc/Logi ICO
AMA with Carla Bünger - CMO & Business Development Manager of SmartContainers
AMA with Thomas Taroni - Head of IT of Smart Containers
Q&A w/ Richard Ettl - Nexchange

Should you invest in this? I sure am, and am very glad to even be offered the opportunity, but it’s up to you. Read through this post if you haven't yet, then click these links and decide for yourself. Don't go all in of course, since this is a profit share token, there is much less risk, therefore less short term reward. The long term reward is what we're looking at here, don't buy into the ICO and then complain that you aren't getting 1000% ROI payouts by year one.

Automation Anywhere Raises $250 Million, Reaching a $1.8

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Ever wanted to buy a stock before it's a rocket or 10 bagger? SBW got you covered.

[EVENT] The Fourteenth Five Year Plan: Made in China 2025

Overview

XIV Five Year Plan

1.Industry 4.0 行业四

2."Green China" 绿色中国

Green China Part 1

Green China Part 2

3."Economy needs a Rule of Law" (建构法制经济)

4.Age Wave 年龄波

Part 1: Reforming the Basic Pension System

Part 2: Social Pensions

Part 3: A National Pension

Part 4: Personal Allocation System & Regulation

5.Military Reform

Summary

Devaluing US Multi-State Operators - A Stance Against Their Long Term Success

Questions about a possible remodel wiring

EU Says It Can Force Facebook to Pull Posts With Hate Speech Anywhere in the World

‘Constitutional Free Speech’

‘Undermined Principle’

Holocaust Denial

More must-read stories from Fortune:

A specific mechanism For future / impending recession (?)

The Death of Trading: Why More Big Banks Think the Business Is a Losing Bet

“Fewer heads”

A changed environment

More must-read stories from Fortune:

I've put together a post that has, what I think, is all the possible (english) information on SmartContainers' ICO out there

Product

LogiChain

Team

Advisors

Tokens

The following is taken from the ICO, Legal, and Company FAQ

Profit Sharing Mechanism

FoodGuardians

SkyCellONE

Organs

Competition

Official Projections

So…

Links4U:

Android Only Paid Apps – Week 14 2019 [Selective Download]

Android Only Paid Apps [Week 14 2019] Part 1:

Android Only Paid Apps [Week 14 2019] Part 2:

Android Only Paid Apps [Week 14 2019] Part 3:

Download Links:

Only 2 days left to whitelist for SMARC ICO, an ICO for a profit-share token being held by an already multi-million dollar company.

Product

LogiChain

Team

Advisors

Tokens

The following is taken from the ICO, Legal, and Company FAQ

Profit Sharing Mechanism

FoodGuardians

SkyCellONE

Organs

Competition

Official Projections

So…

Links4U:

automation anywhere ipo news video

automation anywhere ipo news top

Swift Programming Tutorial for Beginners (Full ... - YouTube