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ALAN Launches Logistics Initiative Improving Access To Disaster Aid

supply chain disaster

ALAN Launches Logistics Initiative Improving Access To Disaster Aid

As non-profits across the country struggle with inflationary pressures, one logistics non-profit organization is shoring up its efforts to help them make every disaster relief dollar count – and to assist disaster survivors more quickly.

The American Logistics Aid Network today launched an initiative to help the non-profit community build stronger disaster supply chain networks.

Funded through a Walmart Foundation grant, the ALAN project will provide disaster focused non-profits with the opportunity to learn and apply a variety of best supply chain practices that have been gleaned from other humanitarian organizations as well as the commercial logistics community. The project will also create a stronger framework for more frequent logistics collaboration between non-profits and private businesses.

About Philanthropy at Walmart

Walmart.org represents the philanthropic efforts of Walmart and the Walmart Foundation. By focusing where the business has unique strengths, Walmart.org works to tackle key social and environmental issues and collaborate with others to spark long-lasting systemic change.

About ALAN

Founded in 2005, ALAN provides donated logistics assistance to disaster relief organizations before, during and after catastrophic events. It is aided in these efforts by financial supporters, volunteers and in-kind donors. During 2022, it coordinated compassionate supply chain services for disasters such as Hurricane Ian, Hurricane Fiona, the attacks on Ukraine, the flooding in Eastern Kentucky, and the COVID-19 pandemic.

World’s Textile Industry Attempts a Spirited Post-Pandemic Comeback at Frankfurt Trade Fair

World’s Textile Industry Attempts a Spirited Post-Pandemic Comeback at Frankfurt Trade Fair

After suffering a massive slowdown during the two years of the devastating Covid pandemic, when global supply chains were also disrupted, the world’s textile industry attempted a spirited comeback at the recent four-day international Heimtextil 2023 of Frankfurt. 

Heimtextil, the world’s largest trade fair for home textiles, attracted a large turnout of international exhibitors and visitors, albeit the numbers were lower than the pre-pandemic levels.   The Heimtextil show was, in fact, the first full-fledged event in three years although a “mini” Heimtextil edition, combined with the technical textile show TechTextil was held in June 2022.  

The event, showcasing a wide range of products – from raw materials, technology, upholstery and decorative fabrics, outdoor fabrics, artificial leather and wallpaper, technology and recycling with its emphasis on sustainability, etc. – made a “powerful return”, and provided “all the signs for success as a barometer for the trade fair business year”, as Detlef Braun, the executive board member of Messe Frankfurt, put it. 

Sustainability was the key word at the show. To save the planet’s increasingly shrinking resources, greater emphasis will be put on recycling.  Innovative material developments from natural raw materials such as mushrooms, plant fibers or recycled waste products provide impulses for the future of home textiles; a special “Future Materials Library” at the show provided pointers in the future direction, flanked by special guided tours and high-profile lectures.  Caroline Till, a textile technology specialist and co-founder of the London-based Franklin Till studio, explained that sustainability and, with it, the circular economy had become imperatives for the industry.  

Turkish companies, reeling from business losses under the Ukraine crisis – both Russia and the Ukraine were their major markets before the outbreak of the war – and the absence of Chinese buyers because of the Covid, made a strong attempt to woo international customers at the show. 

The 315 exhibitor strong Turkish contingent, up from 304 in 2020, displayed a wide range of products – from curtains and curtain fabrics through blankets, rugs and bed covers to upholstery, furnishings and decorative materials – and while the first day appeared slow for some of the exhibitors resulting from the low numbers of visitors, they were satisfied with the overall result. 

Omur Isiki, a representative of the Istanbul based Turkish Home-Textile Association, popularly known by its acronym TETSIAD, maintained that Turkish companies were aware of the growing importance of recycling. “Some companies are trying to acquire recycling technology.  Recycling, as a corollary of sustainability, will play an important role in the global textile industry,” he said. Turkey is Europe’s largest home-textile exporter, supplying to 118 countries. 

Haluk Hocaoglu, the sales director of Flokser Textil San. of Arnavutkoy/Istanbul, which supplies artificial leather used for upholstery, interiors of vehicles, garments, bags, etc., said in an interview with Global Trade that he was, initially, unsure of the response his company would get at the show because of the Covid and the Ukrainian crisis.  Hocaoglu and his team had come with “realistic expectations”, anticipating very few Russian and Ukrainian buyers, but “then our expectations were exceeded when we received some very promising business enquiries from buyers from other countries.  In short, we can’t complain!”  

Flokser had has an annual turnover of US$ 75 million, with exports amounting to $ 15 million. 

Another Turkish exhibitor, Ipeker Tekstil of Bursa, which showcased its weaving, dyeing and printing services as well as its products such as fashion fabrics and bedding, presented its “unique fiber” cupro. “Our product is recycled but it is strictly vegan in character … our fiber is known as cupro (it is also known as vegan-silk cupro). Cupro is used for women’s and children’s clothing but also for men’s shirts,” Recep Eller, a company representative said.  Ipeker received “good business enquiries” from potential buyers from the U.S., Canada, Mexico and Europe.  “Indeed, we received an order right at the show from a Portuguese buyer,” he said.

Pakistan’s textile industry, the mainstay of the country’s exports, put up a brave front at the show despite the pessimism that had descended on the industry following political and economic turmoil, and the devastating floods that destroyed a large part of Pakistan’s infrastructure and cotton crop. 

Aftab Gauhar, the director of Gohar Textiles, a leading textile mill in Faisalabad, Pakistan, said in an interview that many producers had sustained heavy losses in production because of the floods. Pakistan’s cotton production is about 9 million bales, of which 2.5 million bales were lost as a result of the floods. The country traditionally requires about 15 million bales of cotton; the difference between its production and actual requirement is met through imports from Brazil, the United States, etc. 

“In some cases, prices of locally-produced cotton are higher than imported cotton,” he observed. Gohar Textiles, which had an annual turnover of about $ 135 million in 2022, up from $ 120 million in 2021 and $ 95 million in 2020, received a “good response in Frankfurt, completely exceeding our expectations”, Gauhar said. However, he felt that the four-day trade fair should start on Monday, instead of Tuesday, which will make visitors come on Thursday, the last day.  “If the fair starts on Tuesday, then visitors tend to stay away on Friday, the last day.  This makes considerable difference to exhibitors who can get maximum benefit from their participation.”

An elated Olaf Schmidt, the vice president of Messe Frankfurt, the show organizer, said in an interview that after two difficult years, “we’re back in business”.  “It is the first show in 2023 at our trade-fair ground. The numbers have been promising for us … we have had 2400 exhibitors while the number of trade visitors exceeded 44,000 from 130 countries. The international attendance touched 82% of visitors at the show, reinforcing Heimtextil’s status as a really global platform. The show has been good and cleared any doubts in the global textile industry. We are confident that the next show in 2024 will be even better and head towards the level of 2900 exhibitors of 2020,” Schmidt said.

According to Messe Frankfurt, China presented the largest contingent of 429 exhibitors, followed by India (382), Turkey (321) and Pakistan (269).  

Asked about the growing realization among foreign companies to move out of China to other production sites such as Vietnam, Bangladesh, etc., Schmidt said that Vietnam was strong in shoe production but was now also growing in the garment sector. “Vietnam is gaining importance .… global changes are affecting supply chains but China will still remain the largest textile producer in the future,” he predicted. 

nuvera shipyard smart pond

MARAD Announces Nearly $20 Million in Funding Available for Small Shipyard Grants

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced the availability of nearly $20 million in Federal Fiscal Year 2023 funding to help modernize small U.S. shipyards and train the workforce in this critical sector.

MARAD’s Small Grant Program strengthens the economic competitiveness of shipyards by providing grants that can be used to purchase equipment or provide employee training. In addition, these grants can support the purchase of American-made manufacturing equipment that support a wide range of jobs throughout our nation’s manufacturing base.

MARAD’s Small Shipyard Grant Program has awarded 323 grants totaling approximately $282 million since the program was first funded in 2008. Small Shipyard Grants are available to U.S. shipyards with fewer than 1,200 production employees. In July 2022, DOT announced $19.6 million in grant awards to 24 small shipyards in 19 states through the Program.

Applications for grants are due by 5:00 pm EST on February 27, 2023. Additional information can be found here, or by contacting David M. Heller, Associate Administrator for Business and Finance Development, Maritime Administration, Room W21-318, 1200 New Jersey Ave., SE, Washington, DC 20590; David.Heller@dot.gov.

chain global failure friedman footprint relationship chinese registrar supply analytics life

73% of Supply Chain Professionals Predict Chaos on Cards due to Early Chinese New Year and COVID Infections in China

A larger share of freight forwarders and supply chain professionals this year in 2023 are expecting disruptions owing to COVID outbreaks in China and the Chinese New Year factory closures as compared to the last year (2022). 

“We are looking at three different Chinese Years in 2020, 2021 and 2022. It’s not what we’ve been accustomed to in the prior years when there was demand leading up to the Chinese New Year. There is a lot of inventory with retailers and manufacturers. Inflation and fear of recession continue to impact demand. And therefore, the spot rates have started to fall off the cliff. There are a lot of unknowns and preparing with better data, information and visibility into the supply chain is the way to navigate through these unforeseen times.” said Cathy Morrow Roberson, Founder and President of Logistics Trends & Insights LLC during a webinar organised by Container xChange on the Chinese New Year analysis and predictions. 

The annual Chinese New Year survey by Container xChange witnessed some 2300 respondents from the supply chain industry sharing their opinions and views about how they view Chinese New Year and COVID outbreaks in China to have an impact on global supply chains. 

As compared to some 66% in 2022, there was an increase in the percentage (73%) of supply chain professionals expecting Chinese New Year to further disrupt the shipping industry this year.  This comes in contrast to industry reports where a lot of analysis talks about lessening the impact of disruptions in China on the global supply chains. Out of the 73% saying that they do foresee an impact, 65% were freight forwarders and rest were supply chain professionals in general. 

“Usually, we expect cargo rush in January and February but this year, the Chinese New Year is earlier. The situation will have a significant impact on domestic supply chain after January 15 till February 6, 2023. In my opinion, this time is difficult for businesses. I think companies can prepare better through controlling costs, better forecasting, and efficient information flow. This is where technology can help greatly.” commented Mr. Sun Director / General Manager, CNTRANS in the webinar. 

When asked in the survey, ‘what impact will be the most prominent in the coming weeks’, most agreed that there will be ‘an increase in port congestions and delays’ and ‘delayed container journeys’ soon after China reopens. Last year, most industry professionals feared capacity issues and higher rates as the Chinese New Year aftermath. One respondent elaborated, “I think an ‘increase in port congestions and delays’ and ‘delayed container journeys’ will be the possible result as it makes sense to me that once they all ship out again that means more ships leaving closer to one another for the same destinations which may cause backups for a short time.”

“There are added, and new complexities ahead coupled with Chinese New Year where at one end we see China coping with the Covid infections, and on the other end we see continued dip in demand. We cannot see Chinese New Year in isolation but in combination with all these challenges. The biggest concern is the reduced production and port capacity due to the infections in China. Also, the rates are low, capacity management is still top priority for carriers and blank sailings are prominent. Amidst this, in the coming weeks, we do foresee prolonged factory closures and bearish market conditions.” said Christian Roeloffs, cofounder and CEO, Container xChange, an online container logistics platform that offers an ecosystem for booking and managing of shipping containers.

We also asked how the industry is planning for the closures. We asked – “In planning for the 2023 Chinese New Year factory closures, have you ordered inventory/placed bookings earlier this year?” 

Last year, in the year 2022, 59% said ‘yes’ and this year, 55% said yes. While the majority planned advance bookings, there is a drop of 4%. Another change we noticed this year was, while 65% international freight forwarders said they expect Chinese New Year closures to impact supply chains, only 47% have made advance plans to deal with the same. One possible cause of the dip in preparing in advance could be still high inventory levels—and the market being bearish in general, as demand continues to fall and transportation capacity supply increases. 

Further, we asked ‘Ahead of Chinese New Year factory closures, have you changed your container sourcing strategy to ensure you have boxes?’ Last year in 2022, majority said nothing specific and this year too, the majority responded by saying nothing specific, only this year, highlighting that there is enough supply. 

About Container xChange  

The container is one of the most impactful innovations in history—using standardization to power globalization and lift billions of people out of poverty. But contrary to the standardized container itself, most processes in container logistics have not been standardized nor innovated — and are still frustratingly complex, manual and error-prone. Combined with thin margins, this makes it difficult for logistics businesses to survive and thrive. 

Container xChange is the leading online platform for container logistics that brings together all relevant companies to book and manage shipping containers as well as to settle all related invoices and payments. 

The neutral online platform…  

  1. connects supply and demand of shipping containers and transportation services with full transparency on availability, pricing and reputation,  
  2. simplifies operations from pickup to drop-off of containers, 
  3. and auto-settles payments in real-time for all your transactions to reduce invoice reconciliation efforts and payment costs. 

Currently, more than 1500+ vetted container logistics companies trust xChange with their business—and enjoy transparency through performance ratings and partner reviews. Unlike limited personal networks, excel sheets and emails you rely on, Container xChange gives its users countless options to book and manage containers, move faster with confidence and increase profit margins.

 

freight broker tai group

A Prominent Freight Forwarder Faces Impending Layoffs

Just a year ago, Flexport, a technology-forward freight services provider, was rolling. They had raised a significant round of new funding bringing the company’s valuation to $8 billion. Amid the dash to digitize operations at logistics tech startups, Flexport took full advantage of its position in the market. In fact, during the first three quarters of 2021, supply-chain technology startups raised an impressive $24.3 billion. This represented a 58% increase over all of 2020. In short, a boom for the supply-chain tech industry. 

Fast-forward to a year later and the freight forwarder is now cutting 20% of its global workforce. That’s quite a turn of events. Co-chief executives Dave Clark and Ryan Petersen cite falling shipping demand as the principal cause behind the layoff of 600 plus workers. In addition to falling demand, however, improved efficiencies over the operational and organizational levels also resulted in a bloated workforce that was overstaffed. 

Flexport operates across 19 offices and 6 warehouses worldwide. The San Francisco-based company employs just over 3,000 people and has effectively lowered its volume forecasts for 2023. The middle of 2022 was the first sign for many that inflation would be taking a significant toll on consumer demand. Retailers across sectors have been contracting and pulling back from their earlier inventory restocking plans. 

The International Air Transport Association estimated that global airfreight demand contracted by 13.7% last November. The Baltic Air Freight Index (produced by TAC Index Ltd.) revealed airfreight prices worldwide fell 33% over the past year. On the maritime side, US container imports are declining with inbound December 2022 volumes at their lowest since June 2020. Business surged during the pandemic and US freight broker C.H. Robinson Worldwide estimates that too many people had been hired across the larger shipping sector. One of the largest logistics operators, Expeditors International of Washington, just had its earnings estimate lowered in response to a challenging air and ocean-forwarding market. 

Flexport is seeking a more agile future. They will be adding distribution and trucking services that will move the firm more towards a solution-based provider as opposed to just a freight forwarder. They estimate adding up to 400 software engineers to facilitate this shift. Flexport had doubled its revenue in 2021 to an impressive $3.2 billion having moved approximately $19 billion in merchandise across 112 countries. The 2022 revenue estimates were close to $5 billion but have yet to be reported.  

 

   

 

recession

The World Bank is Forecasting a Recession – Good News for Some

A global recession seems inevitable in 2023 based on a deluge of recent economic forecasts, most notably that of the World Bank, which downgraded their outlook for 2023 last week. Russia’s ruinous war against Ukraine, international inflation and continuing global trade conflicts over technology will also slow economic growth across many sectors.  Some pundits are even wondering whether developments such as ChatGPT might negatively impact the labor market.  Nevertheless, in every economic situation there are winners as well as losers, so who will potentially benefit from the global economic downtown?

Firms and technology that provide efficiencies

Businesses looking for efficiencies will be turning to global service centers as an ‘easy button’ on budget and manpower reduction.  With global services centers offering experts in finance, IT and legal at a fraction of the cost of North America or Europe-based staff, they represent an extremely impactful solution to many companies challenged by shrinking margins and unexpected inflation. In many cases leveraging global service centers in places such as India can provide a 60% or higher savings on existing staffing costs.  Improvements in technology also offer another important layer of savings and efficiencies. Technology companies that offer these services will benefit from the recession as customers are driven into their arms out of need.  While ‘old’ tech companies such as Google and Microsoft are dramatically cutting staff in the face of the economic turndown, AI-focused tech companies are in growth mode as companies seek tools to improve how efficiently and quickly they do business.

FDI flows will change to the benefit of global allies

Last summer the term ‘friend-sourcing’ enter our FDI lexicons thanks to U.S. Treasury Secretary Yellen’s comments about the importance of nearshoring/offshoring in the ‘right’ geopolitical locations to keep supply chains safe. With the U.S. and most European nations sanctioning Russia and continuing their decoupling from China, other countries are sure to see a tangible FDI benefit.  India, Vietnam, Indonesia, Malaysia, and lower cost NATO/EU nations such as Poland, Croatia and the Baltic nations should see an increase in investment from companies in G7 countries that are looking to save money, avoid export control scrutiny and diversify their supply chains away from locations that risk getting sanctioned due to their association with Russian activities or China.

Walmart and Costco have the welcome mat out

Low-cost retailers should also thrive in a recessionary economy.  Companies such as Walmart, Costco, Aldi and their global equivalents were created to support customers who are looking to stretch their dollars/euros/yens to cover necessities and they will benefit from the increased foot traffic that the recession is certain to bring.  While they may see a dip in their sales of higher-end products, staples and food products will see an uptick.  There will be increasing pressure on suppliers to these retailers to lower their margins and pricing, which brings us back again to the ‘friend-shoring’ issue.  With the dollar continuing to ride high, it’s cheaper to import many products so companies that can spread their manufacturing and production facilities outside of the U.S. will be more competitive.

How to win in a recession

Companies that can pivot to find efficiencies through technology and by taking advantage of the services and products available in the global market will thrive despite the global turndown, but only if their get it right the first time.  If the blockage of the Suez Canal in 2021 taught us anything, it is that supply chains are at the mercy of numerous factors that can crush a company that is relying on thin margins in a tight economy.  Political risk and supply chain research needs to be thorough and companies need to budget extra to ensure a diversity of sources.  The concept of ‘Just In Time’ (JIT) sourcing needs to be balanced by the reality of ‘Just In Case’ (JIC) variation in sourcing.  Businesses that are comfortable taking advantage of the global smorgasbord of shared service centers, new efficiency technology and growth and investment into safe ‘friend-shoring‘ opportunities will do well despite the recession. 

Kirk Samson is a Director at the International Trade Association of Greater Chicago, an executive at the global consulting company Nexdigm, and a former U.S. diplomat and international law advisor.

air charter services

Air Charter Services Market is Expected to be Valued at US$ 54.0 billion by 2033

The global air charter services market is expected to be valued at US$ 31.9 billion in 2023. It is projected that the market will rise with a CAGR of 5.4% during the forecast period and enjoy a total valuation of US$ 54.0 billion in 2033.

The globalization of businesses is happening at a fast pace. People are now buying/selling products digitally are shipping them globally. This has resulted in an increased demand for cargo charter services worldwide. As it is a prominent solution for oversized and difficult-to-fit product shipment in comparison with standard logistics containers. Customers are benefited from its quicker and more efficient delivery services. With the tremendous development of the e-commerce sector, demand for cargo charter services has grown potentially worldwide.

Also, technology and digitalization have made it easy to book charter planes, where customers can schedule routes, the timing of the flight, the date of the flight, and others as per their comfort which is escalating the demand for these services from the commercial sector. Additionally, the market growth is projected to have a suitable rise in the forthcoming period with the growing disposable income of people in developed and developing economies.

Key Takeaways from Market Study

  • During the historic period (2018-2022), the CAGR of air charter services market was 4.5%
  • The market is projected to rise with a CAGR of 5.4% during the forecast period (2023-2033).
  • Among the region, North America holds leading share of 44.0% in the global air charter services market.
  • In the end-user, business/corporates holds the largest share with 85.0% in the global air charter services market.

Rising demand for cargo charter services

The demand for air charter services is increasing due to the difficulty in the shipment of oversized and difficult-to-fit products in standard logistics containers and aircraft used by air cargo operators. This is resulting in demand for cargo charter services global. Additionally, the air charter services are time and cost-efficient and provide easy and fast cargo delivery.

With the significant development of the e-commerce sector, demand for air charter services has grown. As cargo charter services are proving to be beneficial for the e-commerce sector to efficiently serve the global market and act as a promising option to fill the sudden demand for goods across the border. Owing to this factor, demand for air charter services has grown significantly across the globe.

Market Development

The business environment in the air charter service market is highly competitive. Market players are taking strategic moves like merger and acquisition and service launch relevant to air charter services to strengthen their foothold and expand their market share in the industry. Additionally, technological advancement is playing an essential role in availing these services easily and precisely by the customer, which efficiently contributes towards the revenue growth of the market.

In January 2022, Wheels Up Experience Inc. a leading brand in private aviation signed an agreement to acquire Air Partner PLC, a UK-based global aviation group.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global air charter services market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of application (private charter, group charter, and cargo charter) end-user (business/corporates and individuals) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

saudi ports

New Trade Route to Link Jubail Commercial Port to Six Global Ports  

The Saudi Ports Authority (Mawani) has today revealed the addition of Jubail Commercial Port to the India Gulf Service 1 (IG1) shipping route by ocean carrier Hapag-Lloyd.

The newest cargo service will contribute to fulfilling the ambitions of the National Transport and Logistics Strategy (NTLS) to upscale the Kingdom’s integration with global trade networks besides improving its score in the UNCTAD’s Liner Shipping Connectivity Index to 80 points.

Kicking off on 12th February, the weekly service will link the Kingdom to the ports of Jebel Ali, Karachi, Mundra, Sohar, Shuaiba, and Umm Qasar on board three containerships with an average carrying capacity of 2,400 TEUs.

A strategic trade gateway for the Kingdom’s Eastern Region and its industrial and petrochemical complexes, the Arabian Gulf port is modernly equipped to handle all kinds of vessels and goods alongside delivering a host of world-class offerings to local importers and exporters. 

About the Saudi Ports Authority (Mawani)

Saudi Ports Authority (Mawani) was established in 1976 to oversee the operations of the Saudi ports. Since its inception, Mawani has been keen on transforming the Saudi ports into investment platforms and facilitating the Kingdom’s trade with the rest of the world. The Authority seeks to achieve an effective regulatory and commercial environment supported by an operating model that enables growth and innovation in the Kingdom’s maritime industry. It also envisions developing a sustainable and prosperous ports sector to consolidate the Kingdom’s position as a leading global logistics hub. Mawani strives to realize Saudi Arabia’s economic and social ambitions by ensuring reliable and efficient logistics operations, as well as creating a safe and sustainable maritime environment. Developing the Kingdom’s industrial capabilities to fulfill the objectives of the National Transport Strategy in line with Saudi Vision 2030, has and will always be one of Mawani’s main objectives, thus contributing to making Saudi Arabia a pioneer in the ports sector.

wallet security

The Importance of Wallet Security in the Emerging World of Web3

Hacking and social engineering have become increasingly prevalent in the world of Crypto, NFTs, and Web3 more broadly. While malicious strategies and tactics continue to become more innovative, human error remains the leading cause of compromised wallets. These errors usually stem from inexperience, but even the most seasoned investor can lose everything if not careful.

As you can see on this Twitter thread, hackers can be very deceptive and target tapping into your personal needs. Let’s talk about some best practices to help protect your digital assets.

First, do routine research on what types of hacks and compromises are transpiring in the space. It is essential to stay updated on common exploits to avoid falling victim to any sneaky tactics. Tactics are being deployed and tested by hackers on a daily basis, and being out of the loop could end up being a costly mistake.

Second, ensure you are using a hardware wallet or multi-signature wallet if you are in possession of valuable assets.

Each transaction requires multiple signatures, which may slow down the transaction process, but this provides a layer of security that hot wallets cannot offer. If you decide to use a multi-signature wallet, always keep in mind the number of signatures required to execute a transaction. In the event that multiple keys become compromised or lost, you will need the minimum number of required signatures to process a transaction and access your funds. An example of an entity that should employ a multi-signature wallet could be a DAO with a large treasury they’re trying to secure or even a collector with a valuable personal gallery. Still, everyone should at least have a hardware wallet if invested in Web 3 to ensure an enhanced level of security.

Third, frequently disconnect your wallet and remove signing approvals from websites you have connected to. An excellent tool for this is Revoke.Cash, see this article to learn more about Revoke.Cash and its benefits.

Finally, ensure that any seed phrase you have is written on paper and not kept online. When saved as a photograph, in your notes, or stored digitally anywhere, your private keys are vulnerable. This includes ICloud storage; if your private keys for Coinbase Wallet or Metamask are stored on iCloud, an iCloud exploit could make your wallet vulnerable.

Have your seed phrase stored in your camera roll? Think of how many apps have requested access to your photos, then ask yourself if you trust them to protect your information.

We recommend segregating your seed phrase’s storage, keeping half of the phrase in one secure location, and half in another. We recommend hyper-secure storage locations like bank safety deposit boxes as an example. Just remember that if you lose even one piece of your seed phrase and need to back up your wallet, you will not be able to recover it. This is why we also recommend memorizing your Seed Phrase, if possible, as the ultimate way to protect your assets.

It’s important to consider that this digital world is just emerging, and certain assets will be worth substantially more in the future. Furthermore, as this space is already filled with scammers trying to steal your precious assets, it would be wise to expect that they will only become more prevalent as blockchain adoption increases. All this to say, now is the time to focus on protecting digital goods, as being proactive could save you time and money down the road.

Some key takeaways are: upgrading your wallet to a hardware wallet or multi-sig, being 100% sure every signature you sign is the right one, revoking approvals frequently, storing your seed phrase offline, and never sharing your screen or seed with anyone.

Solidity.io will continue to inform you of notable events and valuable information in the wild world of Web 3. Continue to use us as a resource as you navigate this new digital world, and feel free to reach out at Solidity.io for any Blockchain development or security needs.

Alex McCurry is an American business executive, blockchain expert, investor, and the founder and owner of Solidity.io.

automation tompkins

Lauren Fiochetta Joins Tompkins Robotics as Senior Marketing Manager

Tompkins Robotics, a global leader focused on the robotic automation of distribution and fulfillment operations, has named Lauren Fiochetta to the role of Senior Marketing Manager. In this new role, she will develop and implement omnichannel marketing campaigns designed to attract and qualify customers across a wide range of industries, according to Tompkins Robotics President and CEO Mike Futch.

“We are excited to welcome Lauren to the team at Tompkins Robotics at a time when the warehouse and retail automation industry is poised for dramatic growth,” said Futch. “She is a marketing powerhouse with extensive B2B experience and an existing track record of success in the logistics and robotic automation space.”

Prior to joining Tompkins, she held marketing management roles for global manufacturing companies in the logistics, industrial materials and beverage industries, directing data-driven marketing campaigns encompassing advertising, public relations, social media and a variety of other digital marketing channels.

Fiochetta graduated from Westminster College in Utah with a Bachelors Degree in Business Administration.

About Tompkins Robotics

Tompkins Robotics is a global leader focused on the robotic automation of distribution and fulfillment operations. Our primary system, tSort, consists of autonomous mobile robots that sort a wide range of items and parcels to consolidation points for order fulfillment, store replenishment, returns, parcel distribution – virtually any process in the supply chain. tSort is a truly modular, scalable, and portable robotic sortation system that helps build world-class supply chains while providing unmatched flexibility and throughput.  Tompkins Robotics solutions maximize performance, making our clients more agile, adaptable, profitable, and successful in todays dynamic marketplace.  For more information, visit https://tompkinsrobotics.com.