Brexit A Boon For Blockchain?

PYMNTS

Late this month, a study from Nexus found that across 200 businesses surveyed, more than half of large and mid-sized companies queried are looking to adopt blockchain in an effort to mitigate operational risks in the wake of Brexit. That would leave room for blockchain.

Mastercard Blockchain Patent Would Support Multiple Currencies

PYMNTS

Mastercard has been awarded a patent for a proposed blockchain system that would support multiple types of currency. So Mastercard wants to implement a method to create a blockchain that enables different blocks that can store different types of information.

Thailand Govt Eyes Blockchain To Track Taxes

PYMNTS

To be certain of taxes, will blockchain seal the deal? Last week, Thailand’s Revenue Department was reported to be bringing blockchain projects into the fold to track tax payments, aided by machine learning. As might be expected, smart contracts are tied to those blockchain aims.

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Microsoft And Nasdaq Partner For Blockchain Initiative

PYMNTS

Microsoft is reportedly partnering with Nasdaq on blockchain, in which its Azure blockchain services will integrate with Nasdaq’s Financial Framework. The partnership is aimed at creating a blockchain system to help technologies work together for Nasdaq customers.

Overstock Talks Up Its Blockchain-Based Future

PYMNTS

Overstock may be best known as an eCommerce business, but these days its CEO and Founder Patrick Byrne is much more interested in talking about the power of cryptocurrency and blockchain, and how it will be the real future of both the firm and the economy in general.

 IBM And The Blockchain Bet

PYMNTS

In the blockchain space, the announcements come fast and furious. The movement to bring all sorts of data and processes to the decentralized ledger model and to blockchain platforms is an inexorable one.

Do we need a blockchain?

Chris Skinner

I haven’t written about blockchain for a while. I’m not bored of the promise of blockchain and distributed ledger technologies. Just bored of how much hype there has been and of so many companies claiming to have the latest blockchain breakthrough.

Blockchain Believers Remain Bullish On B2B Payments Disruption: PayPie

PYMNTS

As the peaks and valleys of blockchain hype continue to rise and fall, more doubt has surfaced over the future of distributed ledger technology, particularly in the area of B2B payments. There are many potential use cases for blockchain in corporate finance.

Blockchain 101: Mobile payments

Mobile Payments Today

Let's take a look at the what blockchain is, and how it can help transform the mobile payments industry

DMG Blockchain Targets Cannabis Supply Chain Traceability

PYMNTS

Blockchain company DMG Blockchain Solutions is rolling out a new supply chain management solution designed for the legal cannabis market. The company announced via press release on Tuesday (Oct.

CMB Ushers China Into Blockchain eInvoicing

PYMNTS

China Merchants Bank ( CMB ) announced that it has become the first bank in the country to issue blockchain electronic invoices. According to China Knowledge , the news comes just one month after the bank revealed its intention to launch a blockchain eInvoice.

World Blockchain Trade Consortium Launches With FinTech Platforms

PYMNTS

The World Blockchain Trade Consortium (WBTC) officially launched this week in Singapore with the aim to utilize blockchain technology to lower costs, reduce risk and increase funding to SMEs. Blockchain B2B B2B Payments Fraud Prevention global trade News What's Hot In B2B

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Accenture Debuts Blockchain Procurement Solution In Thailand

PYMNTS

Business services conglomerate Accenture is expanding its blockchain solution offerings with the development of a procurement platform launched in Thailand.

MyEG Launches Blockchain Payroll Solution

PYMNTS

Malaysia-based MyEG Services is rolling out a new payroll solution developed on blockchain technology. “Leveraging the benefits of blockchain architecture is one of MyEG’s core [focuses] presently,” said Managing Director Wong Thean Soon in a statement.

MPs battle over blockchain

Chris Skinner

Conservative MP Eddie Hughes has just written a 36-page white paper extolling the benefits of blockchain for Britain, which was published yesterday Unlocking Blockchain: Embracing new technologies to drive efficiency and empower the citizen, by FREER. FREER is a major new initiative from the Institute of Economic Affairs (IEA, a … The post MPs battle over blockchain appeared first on Chris Skinner's blog. Blockchain Grid Innovation

Blockchain To Get Its Motor Runnin’?

PYMNTS

Blockchain, blockchain everywhere – and maybe this is where the road gets racy. And in the latest edition of the blockchain tracker, the auto industry gets some mileage. One firm has estimated that the automotive blockchain space will be worth as much as $1.6 The blockchain has also gotten some buzz in the financial services realm. What would blockchain be without a startup or two, maybe with a famous name in the mix?

Tencent Steps Into Blockchain Trade Finance Space In B2B Push

PYMNTS

Chinese conglomerate Tencent is the latest to step into the blockchain trade finance space via its FinTech unit Tencent Financial Technology, according to reports in China Daily on Friday (Nov.

Blockchain for KYC: Game-changing RegTech Innovation

Insights on Business

Consider, for example, the blockchain space. Innovators such as Alex Carmichael, COO of Promontory Financial Group Australasia, are expanding the frontiers of blockchain innovation into areas such as risk and compliance, anti-money laundering and know-your-customer (KYC).

Mastercard Eyes Blockchain For B2B            

PYMNTS

Blockchain has been receiving attention well beyond cryptocurrencies, and the focus has shifted in part to patent filings. In the latest news germane to intellectual property and blockchain, Mastercard has filed three patent applications with the U.S. Amid those patent filings came details that the payments giant has developed a blockchain-based system, which aims to streamline high-volume B2B transactions. Carrying Blockchain Into The Carrier Space.

What Does Blockchain Have To Do With The Gig Economy?

PYMNTS

In fact, Head Blockchain Engineer Stan James at decentralized blockchain marketplace provider Origin told PYMNTS in a recent conversation that the central locus of the pre-digital gig economy was the community bulletin board.

Trade Finance Gets Blockchain Boost – But Will Disruption Follow?

PYMNTS

The dependence on dead trees for finance wrought up and down supply chains may be lessening, at least a bit, if the hope beyond blockchain makes the leap from hype to reality. Adoption (and returns) depend in part on which processes make the transition to blockchain.

HSBC, Standard Chartered, Others Launch Blockchain-Based Trade Finance Platform

PYMNTS

HSBC, Standard Chartered and 10 other banks launched a new blockchain -based trade finance program in Hong Kong on Wednesday (Oct. Blockchain automation digitization dlt News Technology Trade finance What's Hot

China Accelerates Blockchain Patent Activity

PYMNTS

News came last week that, when it comes to patents tied to the blockchain landscape, Thomson Reuters has found that China, and Alibaba , have had an outsized showing, and seem to be accelerating their patent filing activity. More than half, or 56 percent of all blockchain patents issued last year trace their genesis from China. Blockchain remains an area of strong interest. See more of what is happening with blockchain related activity here.

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.

Blockchain is dead, long live the Blockchain

Chris Skinner

Lots of people saying that blockchain is past its sell-by date, R3 are bust and distributed ledgers are dead. I think it’s related to the journalists who, having delighted in bigging up blockchain big time for the past two years are now relishing … The post Blockchain is dead, long live the Blockchain appeared first on Chris Skinner's blog. Blockchain Fintech Future Grid Innovation Technology ValueWeb

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

Global Automotive Blockchain Revving Up?

PYMNTS

Blockchain beyond bitcoin. One estimate that debuted this week via Business Intelligence and Strategy Research (aka BIS Research) states that the global automotive blockchain market will reach $1.6 Patent and Trademark Office that would leverage blockchain to secure user authentication efforts and boost security initiatives. Within the financial services realm, use cases for blockchain also showed how DLT might be used in actual offerings.

Gold: Sourced Digitally, Ethically And Via Blockchain

PYMNTS

In the age of blockchain, all manner of physical assets are making the leap to bits and bytes. Blockchain can track transactions of all sorts and create a connected record — and that blockchain is rapidly cleaving from the cryptocurrency clamor to which it was once inextricably linked. When it comes to supply chains, proponents say blockchain — specifically, distributed ledger technology (DLT) — holds promise.

Spain’s BBVA, Partners Complete First Blockchain Syndicated Loan

PYMNTS

Spain’s BBVA — along with partner banks MUFG of Japan and BNP Paribas of France — completed the first syndicated loan on the blockchain. Last week, BBVA and its co-lenders used a private blockchain network to secure a $150 million syndicated loan for Red Eléctrica, the Spanish grid operator.

Applying Blockchain to Identity

Chris Skinner

In my final deep dive into blockchain use cases, I come to digital identity. First, we need to understand what we mean by identity before we can talk about how blockchains could help. Blockchain GridNow this is a thorny area for three reasons.

Blockchain Will Test Investors’ Patience, Experts Say

PYMNTS

Blockchain has issued many promises in the financial services space, vowing improved efficiency, heightened transparency and unmatched security. As FIS conducts internal proofs of concepts and blockchain pilots, Pigg said, the true benefits of blockchain technology will only be discovered gradually. Pigg isn’t the only one to acknowledge the importance of waiting in the blockchain world.

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

Over the next decade, over $2.5 trillion will be generated by blockchain trade

Chris Skinner

I just saw a report from the World Economic Forum, who estimate that over $1 trillion in new trade will be created through blockchain-based distributed ledger technologies (DLT) over the next decade. trillion will be generated by blockchain trade appeared first on Chris Skinner's blog.

China, Alibaba Are Big Players On The Blockchain Patent Block

PYMNTS

News came recently, when it comes to patents tied to the blockchain landscape, that Thomson Reuters found China, and Alibaba , to have had an outsized showing. Last year, 56 percent of all blockchain patents issued trace their genesis from China. Alibaba Bets On The Blockchain. The company is also branching out into healthcare, working with an eastern Chinese city to use blockchain to safeguard and transport healthcare data. Yet, blockchain remains an area of interest.

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.

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?

National Bank Of Canada Blockchain Pilot Eyes Trade Finance Contracts

PYMNTS

The National Bank of Canada , the country’s sixth-largest bank, is collaborating with business consulting and IT company CGI to launch a blockchain-powered trade finance solution.

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.

Amex Files Blockchain Faster Payment Patent

PYMNTS

American Express has reportedly filed a patent related to faster payments and blockchain technology, reports in CoinDesk said. Patent and Trademark Office released the patent application filed by American Express Travel Related Services Company, the payment technology firm’s travel unit, which outlines the use of blockchain technology to accelerate payments between two parties. American Express has been exploring blockchain technology for some time.

Pundi X CEO On Dialing Up Digital Payments, Calling Up Blockchain Phones In Dubai

PYMNTS

It’s a self-proclaimed blockchain city. Dubai is gearing up for payments via digital coin through a concerted effort between the government and blockchain payments provider Pundi X , with hardware rolling out and a state-created cryptocurrency. Dialing For Blockchain.

Why Walmart Says Blockchain Can Improve Food Safety

PYMNTS

Add to that Walmart ’s latest effort to gain more grocery market share: using blockchain technology to trace the origin of the food sold by the retailer back to the farms from which it came. In a new PYMNTS interview, Karen Webster spoke with Frank Yiannas, Walmart’s vice president of food safety , about the origins of the blockchain initiative, overcoming skepticism and why the retailer is starting out with green, leafy vegetables. Blockchain Safety.

Applying Blockchain to Payments

Chris Skinner

I’ve blogged for over a week about blockchain based developments in Clearing & Settlement and Trade Finance, and will continue for another week talking about the developments in Payments and Digital Identity. Blockchain Payments Uncategorized

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.