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A “Smart City” with key technologies such as blockchain and AI will be developed by the Sanya municipal government and Chinese insurance holding Ping An Group. China’s Ping An Insurance Group, one of the world's largest insurance corporations, and the Sanya municipal government signed a strategic cooperation agreement for “Smart City” construction. The new project will be backed with blockchain tech, artificial intelligence (AI), big data, and cloud computing, the official state run press People’s Daily reported Nov. 14. Ping An Group signed a strategic agreement with the Sanya Municipal People's Government to carry out comprehensive cooperation on financial investment and “Smart City” construction as a part of a major strategic urban development in China. The article states that one of the “core segments” of the smart city ecosystem will be “blockchain, [...] biometrics, and other technologies.” Another governmental news agency, Xinhua News, reported that Ping An Group will..
Sweetgreen, a renowned U.S. fast-casual salad chain, has announced another $200 million funding round, mentioning blockchain among its key development areas. U.S. fast-casual salad chain Sweetgreen has announced a second funding round to raise $200 million, mentioning blockchain among its key development areas, according to a press release published Tuesday, Nov. 13. Throughout the first round, closed late October, the company managed to raise $200 million, becoming valued at over $1 billion. During the second round led by major asset management company Fidelity Investments, the salad chain aims to raise an equal amount. The сapital raised, in particular, will enable Sweetgreen to focus on technology and supply chain development, the release states, with blockchain mentioned as the “most viable solution available” to increase transparency in food supply chains. Sweetgreen, which owns 90 restaurants in the U.S., is planning to use decentralized solutions to track food from its supplier..
Forex exchange settlement giant CLS will launch its IBM blockchain-powered netting service within “a matter of days.” Forex exchange (FX) settlement giant CLS will launch its IBM blockchain-powered netting service within “a matter of days,” according to Chief Strategy Officer (CSO) Alan Manquard. The CSO made the announcement at the IBM Think Tank conference in London Nov. 14, as reported by tech news source Computer Business Review (CBR). CLS Group, which reportedly settles on average $5 trillion in payment instructions daily, is a U.S. FX settlement service supplier with high-profile members that include Goldman Sachs, JPMorgan, Barclays, and Citigroup. A netting service entails offsetting and determining the value of multiple positions or payments that are due to be exchanged between parties, accounting for factors such as the currency volatility caused by differences in time zones. In such cases, the service is used to fix the remuneration a given party is owed. Manquard reportedl..
The Thai branch of IBM will promote blockchain and AI to turn the country into a major sales hub in the surrounding region. The Thai branch of U.S. global IT company IBM will promote blockchain and artificial intelligence (AI) in order to turn the country into a major sales hub in the surrounding region, English-language daily news outlet The Bangkok Post reports Wednesday, Nov. 14. According to the article, IBM is going to promote blockchain in collaboration with the country’s central bank, Bank of Thailand. A recent survey by IDC-IBM shows that global spending on blockchain will reach $9.7 billion by 2021. Moreover, IBM is also discussing the possibility of blockchain education in local schools and universities, aiming to provide enough member of the workforce for the industry in the nearest future. IBM concurrently plans to use Watson AI, a computer system equipped with AI and capable of answering questions by using its database, to find insights for different areas in the country,..
Xerox was awarded a patent by the U.S. Patent and Trademark Office for a blockchain platform that can track amendments made to electronic documents. The U.S. Patent and Trademark Office (USPTO) has awarded Xerox a patent for a blockchain-driven auditing system for electronic files, according to a patent filing published Nov. 13. Xerox — known for its eponymous printing and digital copying appliances — first filed the patent in August 2017. The patent describes a blockchain-based system for the secure recording of revisions made to electronic documents. The technology offered by Xerox can supposedly detect whether a file has been altered and tracks the history of changes made. Owing to the decentralized verification mechanism, the system thus becomes resistant to tampering, the filing states. Explaining the technology behind the patent, Xerox describes a series of blockchain nodes that may approve or dismiss each amendment made. The filing also implies that the management network will ..
A survey recently conducted by Hermes shows that one third of German logistics managers believe that blockchain will improve cooperation in supply chains. More than a third of German logistics managers believe that blockchain technology has the potential to significantly improve cooperation in supply chains, according to a Hermes survey published Nov. 12. The survey polled participants on which technologies they believed were important for improving cooperation within the supply chain. 35 percent of respondents recognized the importance of blockchain, while 33 percent said that big data is important. Participants also noted the importance of Cyber-Physical Systems (56 percent) , Enterprise Resource Planning systems (46 percent), and sensor monitoring and data acquisition systems (44 percent). In larger companies — specifically in companies with more than 250 employees — the estimate is even higher, with half of all the managers noting blockchain technology’s potential in the industry...
A South Korean hospital plans to use blockchain tech for cross-hospital healthcare information exchange. One of the South Korea's largest hospitals has partnered with a local tech company to develop a medical services platform based on blockchain technology, according to the hospital’s official press release Nov. 12. Myongji Hospital, located in the city of Goyang, South Korea, has signed a Memorandum of Understanding (MoU) with Korean IT company BICube, which markets itself as a machine learning platform. The two parties plan to use blockchain technology to create a healthcare information exchange system. According to the hospital’s release, the aim of the project is to “build a hybrid cloud [platform] that combines a public cloud and a private cloud.” The medical information exchange service’s hybrid cloud functionality will allow patients to share sensitive medical data with other medical institutions upon authorization, without the data being stored centrally. According to th..
The travel arm of financial services giant American Express has filed a new blockchain-based patent for “linking digital images with related records.” Financial services giant American Express (Amex) has filed a patent for a blockchain-based system to capture and transmit the image of a receipt, according to a U.S. Patent and Trademark Office (USPTO) patent filing published Nov. 13. The patent applicant is listed as American Express Travel Related Services Co., Inc., the company’s travel subsidiary. The new filing, titled “Linking digital images with related records,” includes a new method for receiving, recording and transmitting the image of a receipt. The filing describes how the system lets a user with a mobile device capture the image of a receipt. The system then, via “optical character recognition,” deciphers the image and matches it with “related records,” namely transaction history. The filing mentions of the use of “data blocks” and specifies that “Any databases discussed he..
The Chinese city of Loudi in Hunan province launches a real estate blockchain platform backed by local land, tax and real estate departments. The Chinese city of Loudi has launched a blockchain platform to store real estate data, the Chinese Communist Party’s official newspaper, People’s Daily, reports Nov. 13. The platform is backed by land, tax and real estate departments in the city, which is located in central Hunan province. Starting Nov. 15, the new system will let citizens avoid lines and other bureaucratic processes when submitting documents to the above-listed departments, the newspaper states. Also today, the first real estate electronic voucher was issued in the city via the new blockchain-based system. China is among the countries actively adopting blockchain technology on both the public and private levels. In September, the People's Bank of China (PBoC) announced the “Guangdong, Hong Kong and Macao Dawan District Trade Finance Blockchain Platform,” which aims to pro..
The Russian branch of Raiffeisen Bank partners with major oil industry company, Gazprom Neft, and others to issue a bank guarantee via blockchain. The Russian subsidiary of Raiffeisen Bank International has partnered with local state-owned oil giant Gazprom Neft to issue a bank guarantee on blockchain, Russian business newspaper Kommersant reported Nov. 12. According to Kommersant, the bank guarantee was issued to conduct a trade finance transaction involving four parties, Raiffeisen, Gazprom Neft, Belarusian firm Mozyr Oil Refinery, Priorbank of Belarus. Raiffeisen acted as an advising bank for the Russian oil company, while Priorbank of Belarus, which is part of Raiffeisen bank group, issued a bank guarantee for the deal via blockchain. The system used was reportedly developed by Raiffeisen, on the basis of the bank’s blockchain platform R-chain, which it released in 2017. According to Tatyana Ivashkova, head of documentary transactions and trade finance at Raiffeisen Russia: "Four ..