It’s been a busy summer this year for The Seam with Chairman and CEO Mark Pryor presenting on blockchain technology in different parts of the U.S. and in Europe. He recently returned from presenting at the European Cocoa Association in Paris on how this technology has the potential to modernize and transform physical commodities trading.
The Seam is dedicated to educating the industry on the future of the cotton industry, as well as furthering their knowledge on blockchain. In the upcoming weeks, Pryor and Charles Garner, Director of Trading at The Seam, will present at the American Cotton Shippers Association (ACSA) International Cotton Institute at the University of Memphis on June 26, as well as at the Texas International Cotton School in Lubbock, Texas, in August.
The Seam’s involvement in these schools promotes education within the industry. It’s about the education of technology, as it applies to the cotton industry, and The Seam is frequently involved in collaborative efforts like these to do just that. One of the many goals that The Seam has when presenting is to help students understand the significance of working with a system of transactions that are secure, distributed and immutable, enabling companies to work together on a foundation of trust, increased speed and reduced interference. Combined with “smart contracts,” the technology has powerful implications for global trade with cross-border settlement and instantaneous transfer of currency or other assets when defined conditions are met.
Blockchain technology encourages broad involvement with the benefits of a network effect, whereby a service becomes more valuable the more participation it has. With both of these international programs, The Seam hopes to educate students by offering a new perspective on blockchain technology from field to fabric.
The ACSA International Cotton Institute at the University of Memphis
This six week program provides a basic education on all aspects of the cotton industry and its international business environment, offering an in-depth look at cotton from virtually every perspective from production to processing, and manufacturing. This year, the Institute will take place at the Fogelman Executive Conference Center and Hotel at the University of Memphis. Students will attend cotton classing lessons and classroom lectures.
Students at the Cotton Institute will also attend field trips such as a visit to USDA headquarters and a trip to Cotton Inc. in North Carolina.
Texas International Cotton School
The Lubbock Cotton Exchange, in conjunction with The Fiber & Biopolymer Research Institute and Texas Tech University, is proud to host the 37th session of the Texas International Cotton School. This session will be held August 7-18, 2017 in Lubbock, Texas. The School aims to give students a basic knowledge of U.S. cotton production, processing and marketing systems. The School focuses on staying up-to-date on their curriculum to stay ahead of advances affecting the cotton industry from field to fabric.
The Seam has helped lower the overall costs to market through the use of technology, which aims to gives graduates of this program an understanding of this new technological leap.