February 9, 2018
Market Activity and Trends
Ripple Blockchain Network Adds China Payments Provider
Coin Desk | February 7, 2018 | https://goo.gl/DL9i6H
A new partnership between Chinese payment provider LianLian and RippleNet will allow existing RippleNet members to connect with the Chinese market. This is in an effort to bring same-day, cross-border transactions onto a blockchain.
Arthur Zhu, CEO of LianLian International, said: “With RippleNet, we will further enhance that experience by offering customers instant, blockchain-powered payments across the 19 currencies that we currently support.” With the news, LianLian becomes the latest member of RippleNet, which according to a previous CoinDesk report, now has over 100 customers using its xCurrent solution.
Singapore Airlines to Launch Blockchain-Based Loyalty Wallet
Coin Desk | February 6, 2018 | https://goo.gl/VXfh6f
Rewards points seem ripe for blockchain, and Singapore Airlines appears ready to capitalize. After what they claim was a successful POC with KPMG and Microsoft, Singapore Airlines announced on February 5 that they would enable their customers to accumulate frequent-flyer miles in a digital wallet powered by a private blockchain. This system would allow customers to spend these points at retail partners. With an initial focus on companies in Singapore, the airline is now in the process of onboarding retail merchants. The program is set to launch in six months.
Explaining Side Chains, The Next Breakthrough In Blockchain
Forbes | February 7, 2018 | https://goo.gl/qeeTDq
Side chains is the latest technology surrounding blockchain that is poised to become widespread in the coming years. Side chains help increase efficiency because multiple side chains were different tasks are distributed accordingly.
There are three elements that make side chains powerful: consensus, interoperability, and scheduler. Schedule is a major differentiator as it has the capacity for parallel computing blockchain.
SEC Chief Clayton: ‘Every ICO I’ve seen is a security’
Coin Desk | February 7, 2018 | https://goo.gl/PzwquG
In a US Senate hearing on February 6, 2018, Securities and Exchange Commission chairman Jay Clayton declared “I believe every ICO I’ve seen is a security.” Although this is not the first time the SEC has classified ICOs as securities, this statement has brought forth the lack of regulation of these ICO tokens. Senator Elizabeth Warren raised the question of if any ICO has been subject to SEC registration, to which Clayton responded “not one.”
Although no clear regulatory action was determined during this meeting, Clayton did make a point to separate ICOs from cryptocurrencies (Bitcoin is considered a commodity), saying that the SEC should regulate ICOs like securities offerings.
Crypto Industry Reacts to US Senate Hearing Remarks
Coin Desk | February 7, 2018 | https://goo.gl/sftJo8
Despite remarks signaling increased regulation in the current cryptocurrency space, industry observers remain bullish on the market. The tone of the Senate hearing was “sophisticated,” indicating to many that cryptocurrencies are here to stay, despite a recent downturn in the market. The biggest takeaway was that US lawmakers and regulators understand the technology and are willing to “engage in responsible enforcement and regulation.”
As the hearing concluded, an unanswered question remained: what comes next from Congress and regulators? While SEC chairman Jay Clayton remarked that the agencies may approach lawmakers for wider powers to improve the current “patchwork” of state and federal regulations regarding cryptocurrencies, no clear actions were outlined. The coming months will be crucial to the formation of the cryptocurrency industry.
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Blockchain Part I: Evaluate, Engineer, Execute
Pramod Achanta | August 24, 2017
Blockchain Part II: Engineering Transformation; Building out the Blueprint
Pramod Achanta | September 8, 2017
Blockchain Part III: Execution; Breathing Life into Blueprints
Pramod Achanta | September 15, 2017
Blockchain @ IBM Institute for Business Value
Blockchain for Digital Reinvention: Three lessons from Blockchain Explorers
Veena Pureswaran | IBV Global Research
Recently, the IBM Institute for Business Value conducted a global survey of nearly 3,000 CxOs from over 20 industries to understand their strategy for leveraging blockchain as an enabler of Digital Reinvention. Through observing and interacting with these blockchain explorers we’ve identified three lessons learned that further their pursuit of blockchain.
Driving changes
Automation, digital commerce and the Internet of Things are redefining vehicle operation, usage and ownership models.
Advancing blockchain
In this IBM Institute for Business Value Expert Insights report, we share some lessons from a successful, ongoing blockchain initiative between CLS and IBM.
An expanding market
Central banks and financial system regulators around the world are asking themselves how blockchain is going to change their technology underpinnings and those of the commercial banks and financial institutions they regulate. These executives are especially concerned about the non-functional requirements for blockchain.
Tuned to trust
The current model for managing identity is quickly becoming unsustainable — costly, disjointed and all too fallible. Blockchain, the technology underlying distributed ledgers shared across a scalable group of individuals and institutions, takes a new approach. How should organizations approach this new opportunity?
Transparency that engenders trust
There is no doubt that blockchain is about bringing trust to transactions. For almost any supply chain — be it food, medical records, precious gems and minerals, real estate or credit default swaps, to name a few — success depends on the promise of transparency and auditability for all participants.
Fast forward
For centuries, global trade has been the single greatest creator of wealth in human history and market friction the greatest obstacle to wealth. Blockchain technology –which creates a permanent and transparent record of transactions –has the potential to obviate intractable frictions across industries.
Our Contributors
Disclaimer: The postings are of our contributors and don’t necessarily represent IBM’s positions, strategies or opinions.
