Ripple Invests $25M in Blockchain Capital

Bank Innovation

Enterprise blockchain provider Ripple has made a $25 million investment in blockchain startup, Blockchain Capital, the company announced today. Capital Cryptocurrency Online Payments BlockChain Blockchain Capital cryptocurrency funding Investment Ripple

Facebook Goes Hard at Blockchain

Bank Innovation

Facebook has formed a team to tackle blockchain initiatives. Marcus's involvement implies that the blockchain effort might have some financial services implications. And it has put the former PayPal President David Marcus in charge of the effort.

Blockchain: Payments Execs Unpack The Hope From The Hype

PYMNTS

Remember when blockchain was the new technology buzzword on the … block? Now blockchain is on everyone’s lips, and has been for a while. The debate over blockchain, however, in terms of utility, rages on. Blockchain ebook Featured News News

Payments Providers Are Lukewarm on Blockchain Technology

Bank Innovation

But one technology seems curiously absent from recent payment innovation, and that’s blockchain. “We We think blockchain technology will streamline payments, but in practice there are very few open […].

Blazing a path for blockchain in banking

Insights on Business

According to a report from Santander, blockchain technology is poised to save banks $20 billion dollars a year in infrastructure costs by 2022. Instead, he and his team identified a key client challenge for which blockchain could provide a valuable solution.

Samsung Considers Blockchain To Manage Supply Chain

PYMNTS

Samsung is reportedly looking into blockchain technology to manage its supply chain, reports in Bloomberg said on Monday (April 16). The technology conglomerate, which is the world’s largest smartphone and semiconductor maker, is exploring a blockchain-based ledger system to manage its international supply chain. Samsung SDS VP and Blockchain Chief Song Kwang-woo said that supply chain involves the transport of billions of dollars worth of goods every year.

JPMorgan Chase and National Bank of Canada Complete Blockchain Test

Bank Innovation

and the National Bank of Canada (NBC) announced today that they tested a debt insurance simulation on a new blockchain platform. Corporate Innovations Lending Payments Wealth Management BlockChain fintech innovation JP Morgan QuorumJPMorgan Chase & Co.

Blockchain Tracker: Insurance Industry Feels Blockchain Impact

PYMNTS

Blockchain technology has the potential to impact nearly every industry involving money. It’s safe to say the insurance industry world is slowly moving out of its stodginess and into innovation with this news — and the recent PricewaterhouseCoopers (PwC) announcement of its automated blockchain prototype for the London Market Target Operating Model (TOM) Innovation Exchange. PYMNTS: How is blockchain technology impacting the FinTech industry overall?

IBM Creates Blockchain Ecosystem

PYMNTS

IBM is getting into the blockchain game, announcing Friday (Dec. 9) it launched a blockchain ecosystem aimed at accelerating the creation of blockchain networks. In a press release , IBM touted blockchain, saying it has the potential to transform the way all sorts of industries conduct business transactions. The future growth and adoption of blockchain is reliant upon building a strong ecosystem. Blockchain IBM Payment Methods What's Hot

Shell Strengthens Blockchain Focus With Startup Investment

PYMNTS

Royal Dutch Shell is boosting its position in the world of blockchain through an investment in distributed ledger startup Applied Blockchain. startup, which develops blockchain apps with a focus on smart contracts. Shell also chose Applied Blockchain as the winner of its startup development competition. Investing in Applied Blockchain is part of our commitment to use digitalization to create value in our core business and develop new business models.”.

Amazon, Walmart Announce New Blockchain Ventures

PYMNTS

Blockchain is now an official word in the Merriam-Webster dictionary. Of course, the FinTech industry doesn’t have to look it up, but the dictionary now defines blockchain as a technology that enables the keeping of records of financial transactions in a digital database as part of a publicly accessible network. The addition of blockchain to the dictionary is symbolic of the technology’s continuing proliferation.

Blockchain Startup BitPay Raises $40M for Asia Expansion

Bank Innovation

BitPay, a blockchain payments company, closed a Series B of $40 million yesterday, the company announced. Capital Cryptocurrency Exclusive Online Payments Startups BitPay BlockChain cryptocurrency funding online payments payments startups venture capital

Insurers Test Blockchain To Manage Provider Data

PYMNTS

The blockchain is making inroads into healthcare. Under the terms of the pilot, blockchain will be used with the hopes of improving data quality while reducing administrative costs focused on healthcare provider demographic data. Walker told PYMNTS that “we believe that a permissioned blockchain is the most suitable approach for our pilot. News Blockchain data management Healthcare Humana Innovation Insurance multiplan Optum Quest Diagnostics unitedhealthcare

Accelerating Blockchain Transformation

Insights on Business

In March of 2016, I testified on the revolutionary nature of blockchains before the U.S. Since that time, blockchains have continued garnering interest across multiple industries from banking to health care, and have been explored for quite a few additional use cases. Permissioned blockchains can provide value to customers through their ability to establish consensus between parties, provenance of assets, immutability of ledgers, and finality of transactions.

What’s next for blockchain?

Chris Skinner

I recently wrote an article for Bloomberg’s Business Week, and thought it worth sharing with y’all here: What’s next for blockchain? Everyone got very excited a few years ago about blockchain technologies, the ledger system that was spawned by the arrival of bitcoin in 2009. It allows the recording of … The post What’s next for blockchain? Blockchain Digital Bank Fintech Grid Innovation ValueWeb

Blockchain Tracker: Governments Trust In Blockchain

PYMNTS

In a recent study of 200 government leaders from 16 countries, IBM’s Institute for Business Value (IBV) looked specifically at blockchain technology as a possible solution for securely sharing sensitive data. The research showed that by 2018, nine out of 10 organizations will invest in the use of blockchain technology for financial transaction, asset and contract management and regulatory compliance. One such entity that’s placing its bets on blockchain technology is China.

Blockchain Tracker: Hybrid, Private And Public Blockchain’s Impact On The Finance Industry

PYMNTS

Blockchain technology keeps a high level of detail in its records of all financial transactions made. One of the arguably best parts about public blockchain technology is that it’s usually not controlled by one particular entity. In blockchain technology, there are three different ways it can be used, which include hybrid, private and public. PYMNTS: Please share your own definition of hybrid, private and public blockchain technologies.

HSBC Looks to Blockchain to Solve a Major Pain Point in Trade Finance

Bank Innovation

Exclusive Innovations Blockchain Cargill HSBC ING Bank

BBVA Completes Corporate Loan Deal Via Blockchain

Bank Innovation

BBVA bank announced today that it has closed a $90 million corporate loan deal with their technology partner, Indra, via blockchain technology. BBVA used its own internal blockchain system, which is built on the IBM-backed […].

Hyperledger Releases its Second Blockchain Platform, Sawtooth

Bank Innovation

EXCLUSIVE— Collaborative blockchain company Hyperledger has made Hyperledger Sawtooth, the second of its active projects to reach a 1.0 While its older cousin, Hyperledger Fabric, has enabled scores of developers and companies to work on blockchain projects […].

Blockchain Tracker: Blockchain’s Role In Digital Advertising

PYMNTS

Although it’s still in its infancy stage of being used outside of the financial arena, blockchain technology is slowly showing signs of impacting other industries. On the tip of everyone’s tongue in the digital advertising arena is blockchain technology. ConsenSys’ Founder, Joseph Lubin, commented in the joint press release about how blockchain technology adds value to digital advertising: “There is tremendous value and disruption potential of this technology beyond FinTech.

Enterprise Blockchain Consortiums – Part 1

Bank Innovation

2016 was a big year for Blockchain. The hype around Blockchain was palpable, and we saw news from all around the world about various initiatives picking up steam.

Blockchain Needs A Killer App

PYMNTS

Even as a telecommunications conglomerate, it’s hardly surprising that Comcast is jumping into the world of blockchain. million funding round for blockchain startup Blockdaemon , solidifying Comcast’s presence in the distributed ledger scene. As an investor, at this point, I’m less interested in cryptocurrency per se, but I still believe the fundamental blockchain technology has value.”. So what must happen to get blockchain out of the gate? “We

Top 10 Blockchain Headlines of 2016

Bank Innovation

Blockchain—possibly the buzziest of buzzwords in 2016. Online Payments Security Technology Uncategorized Virtual Currency 2016 artificial intelligence BlockChain KYC money transfer R3CEV Ripple

Banks Uniting Over Blockchain

PYMNTS

Persisting low interest rates are encouraging banks to adopt blockchain, which they see as a way to reduce costs and offset losses. According to Financial Times , banks initially distrusted bitcoin when it first emerged in 2009 as a currency that could elude the control of governments and central banks, but blockchain was thought to have its advantages. Blockchain was considered safe and unhackable because it is shared among a large number of users.

HSBC Ready To Test Blockchain Trade Finance

PYMNTS

Banking and financial services firm HSBC says its blockchain-based trade finance solution is ready to launch — in pilot phase, at least. 28) reports by the Global Trade Review , the bank’s senior innovation manager, Joshua Kroeker, held a media call and announced that after developing the trade finance solution for about two years, HSBC is “confident enough to actually do a live transaction” using its blockchain technology.

Governments Fuel Blockchain’s Global Proliferation

PYMNTS

Governments may not be too keen on bitcoin, but blockchain is another story. In fact, government authorities have begun to help fuel the proliferation of blockchain across the world. In this week’s Blockchain Tracker, PYMNTS runs through some of the latest moves from policymakers and the public sector as they explore blockchain’s potential. Local officials are hoping to use blockchain to improve public services and boost transparency.

Blockchain Alliances Form Partnership In Shipping, Transport

PYMNTS

Two blockchain alliances have formed an alliance of their own to promote the use of blockchain in the global logistics and transport industry. 6) stated that the Wall Street Blockchain Alliance (WSBA) and the Blockchain in Transport Alliance (BiTA) are collaborating to develop solutions in supply chain financing and risk management. The groups aim to explore the use of blockchain and smart contracts in supply chain finance and transport, they said. “In

Blockchain’s Unassuming Threat To Banks

PYMNTS

Blockchain has taken a bit of a different path to disruption, with large, traditional lenders quickly deploying collaborative initiatives or their own internal experiment programs to explore distributed ledger technologies. This embrace of blockchain is due, in part, to the potential for the technology to proliferate within the banking system, not necessarily bypass it – though it remains unclear which path the technology will take.

Blockchain Tracker: Banks’ Experimentation With Blockchain Tech

PYMNTS

In the midst of today’s retail revolution, blockchain technology is being pushed up to the surface. E-Commerce’s increasing popularity over the last decade is likely the driver of blockchain technology implementation. As such, it should come as no surprise that banks from around the world are dipping their toes into blockchain technology in various projects. One of the seemingly largest barriers for banks with blockchain technology are federal-level regulations.

Blockchain Tracker: The State of Blockchain

PYMNTS

The world of blockchain technology has certainly seen some major changes over the course of the past decade. While traditionally, blockchain has been instrumental in the financial arena, 2016 and early 2017 saw other industries dipping their toes into the technology’s shallow end. Basically, blockchain technology can be applied to anything that involves a digital contract or money exchanging hands. Therefore, blockchains and MDLs regulate themselves.

Banco Santander Launches Blockchain-Based International Money Transfer Service

Bank Innovation

Spain’s Banco Santander Bank today launched Santander One Pay FX, a blockchain-based international money transfer service across four countries. This new service is the first of its kind, according to the bank, and was developed by blockchain firm Ripple.

Mastercard Begins Offering B2B Blockchain Tech

PYMNTS

20), Mastercard announced news that it will be opening up access to its blockchain technology through its developer’s API. Mastercard is not the only firm delving into blockchain. Big banks and financial services firms were the first corporate players to make direct blockchain investments en masse — unsurprising, given how bitcoin’s underlying technology lends itself (both technically and in popular thought) to financial services,” said CB Insights in a report.

Banks Leave Blockchain Behind and Take to the Cloud

Bank Innovation

Blockchain has yet to realize its full potential, and right now, it seems like financial institutions and technology providers aren’t rushing to push it out of its nascent, proof-of-concept stage.

Will The Blockchain Revolutionize Faster Payments?

PYMNTS

Blockchain technology has allowed businesses to eliminate unnecessary, not to mention costly, intermediaries and significantly reduce international cross-border payment processing time from weeks to a day.

Blockchain Begins Earning Some Bitcoin-Like Skepticism

PYMNTS

For years, throughout the volatility of cryptocurrency values, some industry experts have assured investors and innovators that blockchain is the disruptor in which the market should place its faith. For some, the doubt stems from the recent spurt of non-blockchain companies making the sudden pivot to DLT, often (probably) in an effort to raise some quick cash and bump up their stock value. Titcomb isn’t alone in questioning whether blockchain is a bitcoin-like bubble.

Microsoft, Comcast Remain In Blockchain Exploratory Mode

PYMNTS

Spending on blockchain technologies will ramp up to $9.2 Its latest Worldwide Semiannual Blockchain Spending Guide also calculated a compounded annual growth rate (CAGR) of blockchain spend of 81.2 2017 was the year of experimentation as enterprises realized both the benefits and challenges of blockchain,” said IDC Customer Insights and Analysis Research Manager Stacey Soohoo in a statement, according to Cryptovest reports this week.

Blockchain Tracker: Blockchain’s Impact On The Supply Chain Industry

PYMNTS

One way many are discussing is to implement a blockchain technology system to help facilitate the supply chain process by providing a heightened visibility and increased efficiency. We sat down with Paul Brody, global innovation leader, blockchain, at EY to learn more about how blockchain technology can be an asset to the supply chain management process. Blockchains are one of the best opportunities ever to replace expensive physical goods with reliable information.

Blockchain Remains King as Banks Lose Interest in ICOs, Crypto

Bank Innovation

EXCLUSIVE–The potential use cases of blockchain technology in banking continue to captivate bankers, but topics like cryptocurrency and Initial Coin Offerings, or ICOs, may be losing a bit of their edge.

Creating a ‘Blockchain Industry:’ Patenting the Blockchain

Bank Innovation

Patent filings for blockchain technology have more than tripled since 2014; this spike includes patents filed by cryptocurrency exchanges such as Coinbase, payment processors like Mastercard, and banks like Goldman Sachs and the Bank of America. Online Payments Technology Virtual Currency Bitcoin BlockChain cryptocurrencies MasterCard patent law