Oracle’s Blockchain Service Goes Live

PYMNTS

Oracle’s new blockchain service for the enterprise is now live, reports in Fortune said Monday (July 16). The enterprise technology conglomerate has released its solution for businesses that provides them with software and infrastructure to set up their own blockchain networks. “Anywhere there’s data transfer and information flow, blockchain has a potential application,” said Oracle Cloud Unit Executive Vice President Amit Zavery.

Blockchain Will Test Investors’ Patience, Experts Say

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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.

Facebook Gets Serious About Blockchain With Exec Reshuffle

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After setting up a group within Facebook to look into blockchain technology, Facebook may be bolstering its efforts in the field: Evan Cheng has taken on the position of director of engineering, blockchain, at the company, according to reports and his LinkedIn profile. But Cheng has tweeted about blockchain topics. In addition, reports say that he serves as an advisor to startups and projects in the blockchain space such as ChainLink and Zilliqa.

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

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.

Amex Inadvertently Confirms Ripple Blockchain Platform Plans

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It’s not entirely clear yet how — or if — blockchain will transform the financial services market, but that hasn’t stopped industry players from scrambling to get a leg up on the technology and ahead of the competition. billion dollars every year on blockchain as banks and other companies emerge from proof-of-concept stage into market launches and commercial products. B2B Payments American Express B2B Blockchain Blockchain tracker dlt FXIP News Ripple SWIFT

Governments Get Realistic On Blockchain

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The blockchain hype is real — just ask Long Blockchain — but governments are taking a modest, more realistic approach to the technology. In this week’s Blockchain Tracker , PYMNTS examines the latest government initiatives in the U.S. around blockchain, including the latest from the Federal Trade Commission (FTC) and Congress. As a whole, officials offer support — albeit vague — for blockchain and its potential. Catch the latest blockchain headlines below.

Blockchain Inches Slowly Out Of Pilot Phase

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It seems that blockchain may never leave the lab and enter the real world. And, indeed, this week’s Blockchain Tracker continues its coverage of ongoing tests and trails of blockchain solutions. However, blockchain solutions are slowly moving from testing to real-world application, with two solutions making the giant leap from pilot phase into the market. B2B Payments B2B Blockchain cross-border payments dlt KYC News Trade finance we.trade

IBM Creates Blockchain Ecosystem

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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

Blockchain Tracker: Insurance Industry Feels Blockchain Impact

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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?

Blockchain Is Perfectly Suited for Banking, But Banking Is Not Ready for Blockchain, McKinsey Says

Bank Innovation

Blockchain‘s future in banking is bright, but right now, the industry is not prepared to take advantage of what the technology offers, according to a new McKinsey report on blockchain’s viability across various industries.

Finance, Logistics Compete For Blockchain’s Attention

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The skeptics are flocking out of the shadows to warn investors and innovators that blockchain may not be the catch-all solution and market-changing disruptor it promises to be. The latest vocal proponent of blockchain for the enterprise is Sergio Ermotti, CEO of UBS Group. “It’s almost a must,” Ermotti told CNBC this week (June 18) about the role of blockchain in the enterprise.

Blockchain: Payments Execs Unpack The Hope From The Hype

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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

FIS: Blockchain Transformation Must Be Deliberate

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Blockchain probably won’t solve all the world’s financial problems, as devoutly as innovators and enthusiasts may hope and believe that it can. Esther Pigg, SVP Product Strategy of FIS , says blockchain’s potential benefits will instead be discovered gradually, and will change the industry even more gradually. Pigg isn’t against blockchain. FIS is conducting internal proofs of concept and piloting blockchain technologies with U.S. Use Cases For Blockchain.

Overstock CEO Says Blockchain Can End Global Poverty

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Overstock CEO Patrick Byrne believes that blockchain might be the world’s greatest hope in ending global poverty. In an exclusive interview with FOX Business , Byrne said he is looking for suitors who may be interested in his new venture with world-renowned Peruvian economist Hernando de Soto Polar to end poverty with blockchain technology. We are going to change the world with blockchain,” Byrne said.

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.

Samsung Considers Blockchain To Manage Supply Chain

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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.

Blockchain Tracker: Governments Trust In Blockchain

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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

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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.

Shell Strengthens Blockchain Focus With Startup Investment

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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

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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 Tracker: Blockchain’s Role In Digital Advertising

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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.

UK Financial Reporting Group Says Blockchain Too Immature For Adoption

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Financial Reporting Council’s Financial Reporting Lab has released a new report on the potential applications of blockchain in the corporate accounting space. Reports in Out-Law on Friday (June 29) said that the Lab’s analysis, intended as an exploration of blockchain’s role in corporate accounting, does show promise in some scenarios. Security and transparency offered by blockchain technology may play a role in compliance, the Lab noted. The U.K.

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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

Banks Uniting Over Blockchain

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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.

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

Blockchain Tracker: Banks’ Experimentation With Blockchain Tech

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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.

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

Blockchain Tracker: The State of Blockchain

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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.

Russia Prepares For SWIFT Exit With Blockchain

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Russia’s corporate treasurers are working with the nation’s central bank on a blockchain initiative, reports in CoinDesk said Friday (June 15). The Russian Association of Corporate Treasurers is joining the government-led Masterchain blockchain initiative, a platform developed by the central bank to facilitate communication within Russia’s banking market.

Will The Blockchain Revolutionize Faster Payments?

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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.

Mastercard Begins Offering B2B Blockchain Tech

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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.

Blockchain’s Unassuming Threat To Banks

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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: 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 Alliances Form Partnership In Shipping, Transport

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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

From Blockbuster The Chain To Blockchain The Movie?

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From blockbuster to Blockbuster the chain to … blockchain. News comes this week, from the Santa Monica Daily Press , that a local theater will debut a movie that is being released and distributed via blockchain. In a way, might it be the case that bitcoin is becoming a subplot to the blockchain story? Perhaps equally important, blockchain is heralded as a new way to deliver and speed the movement of all sorts of data and media. We’ve come a long way, Mr. Edison.

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 Needs A Killer App

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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

HSBC Ready To Test Blockchain Trade Finance

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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.

Santander, Ripple Use Blockchain To Settle Global Payments

PYMNTS

If entranced by bitcoin’s ebbs and flows, one would be forgiven for being caught off guard (if they are, in fact, off guard) to find that a major bank is coming to market with a service backed by blockchain, which now is live and available — and can help make sure that funds cross borders with speed and surety. Santander is no stranger to blockchain. It has also invested in several blockchain companies through InnoVentures , its venture capital fund.