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In the fight against black-market cigarettes: tobacco giant Phillip Morris relies on Blockchain solutions

the In the fight against the international black market for cigarettes will put the tobacco giant Philip Morris in the future on the open Blockchain networks.

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In the fight against black-market cigarettes: tobacco giant Phillip Morris relies on Blockchain solutions
the In the fight against the international black market for cigarettes will put the tobacco giant Philip Morris in the future on the open Blockchain networks. This is to track the supply chains of the tax stamps. At the same time, the group announced this week the development of Blockchain solutions for five other areas of the company. All attempts to go to the end of the year.

By David Barkhausen
26. April 2019BTC$5.267,00 -3.21%part Facebook Twitter LinkedIn xing mail

The global black market for fake cigarettes is a billion dollar business. According to studies, twelve of the cigarette takes place alone, in this country, your way at the Treasury passed into the hands of the smoker. Thus, the world's leading tobacco companies and tax authorities should be lost, according to estimates, every year up to 90 million euros.

As the responsible head of the Tech Department this Thursday, the 25. April, on the London Blockchain Expo announced, will put the tobacco giant Phillip Morris (PMI) counterfeiters are now with a public (unpermissioned) Blockchain the craft. In the future, this market is open to participants and the tax stamps on the cigarette packs in a transparent track.

We strive to achieve an industry-wide Blockchain, in which interested stakeholders to enter and you can benefit. If companies don't see the value [in the network], you can simply exit again,

explains Nitin Manoharan to Coindesk, the advantages of the model of a public Blockchain. They wanted to create an openly accessible and at the same time, a viable Ecosystem, from which all tobacco producers a profit, so the Vision of the world's largest Tobacco company.

Manoharans is estimated that Philip Morris could be saved by such a block chain-based transparent automations up to 20 million US dollars [18].

PMI is planning Blockchain applications in six areas of the group by 2020

in addition to the tax stamps-Blockchain, the company spokesman also announced the development of Blockchain-solutions for a further five divisions of PMI. Although the group see in public networks, the biggest promise, however, closed systems are used for this:

We consider this to vary from case to case [...]. I would not, however, make all applications accessible to the public. There are many processes that are purely internal and subject to, among other things, access controls.

Until the end of the year to go all Tech solutions at the Start. For more on the announcements from Thursday, beyond the technical Details and background PMI is left open, however:

While Philip Morris International has developed further, we will test new technologies to be more effective, more transparent and more cost-effective. What relates to the tax stamps, they are issued by governments, their requirements, we will hold

the group answered to a demand of BTC-ECHO.

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