July 11 – 5 Key Stories From The Digital World

By July 10, 2019 Insight

1. HSBC Blockchain Connection Reduces Transaction Time by 40%

  • HSBC partnered with major retail organization Landmark Group which provided its blockchain platform ReChainMe
  • companies linked up their respective platforms, which reportedly resulted in the reduction of transaction time by 12 days, or 40%
  • all parties in the supply chain ecosystem were able to track and view the progress of the transaction, agree on the terms of the transaction including logistics, co-create and approve documents and fast track supplier payments, all in real time

2. Richard Branson’s Virgin Orbit just dropped a rocket from an airplane

  • Virgin Orbit wants to keep costs down by launching small satellites into orbit via a rocket released from an airplane
  • the company aced a key drop test using a “fully built, fully loaded” LauncherOne rocket
  • drop test did not involve igniting the rocket, but it showed the flying launchpad’s release system is working as designed

3. How 100-Year-Old Firms Stay Relevant

  • majority of legacy Fortune 500 firms are no longer market leaders because their focus remains on protecting their traditional business in this era of digital transformation
  • U.S. Bank’s strategy…Study fintech startups’ solutions. Understand how they are driving new client engagements to inspire new thinking and approaches to engaging customers.
  • to ensure that you achieve future market leadership, prioritize tech-driven innovations that disrupt existing services and offerings

4. Shell Invests In Ethereum Hybrid 

  • investing an undisclosed amount in LO3, a New York startup using a modified version of the ethereum blockchain to make it easier for individuals to buy and sell locally produced energy using the existing network of power cables
  • LO3’s platform, called Exergy, is designed to track the flow of energy as it is added to a shared, local energy network
  • If successful, LO3 and its competitors in the nascent “transactive energy” market, could change the role of traditional electricity transmission and distribution companies

5. Samsung Blockchain SDK

  • brings developers and consumers to the blockchain world by providing a full set of functions that the Decentralized App(DApp) or Blockchain App needs
  • helps developers to manage blockchain accounts easily…does not need to make separate types of transaction that follows coin types by themselves anymore
  • offers a payment gateway for cryptocurrency remittance with its UI…links users not only to the Samsung KeyStore but also to any external cold wallets as well