In Episode 15 of my weekly update, I’m sharing stories and insight around JP Morgan’s continued blockchain push, Tesla’s move into ride sharing, and drone deliveries in the US.
In previous episodes, I have shared insight with you about the rise and growth of blockchain’s impact across traditional industries. Banking is one traditional industry in particular where we see established entities pivoting to embrace blockchain for preparedness and survival. Recent reports show for example that between $17B – $24B annually can be saved in global trade processing costs by moving securities onto the blockchain. Whether in payments, credit, settlement, securities or any other service in the industry, distributed ledgers, transparency, and security provided by blockchain technologies are forcing traditional companies and regulatory bodies to seek out change.
In conversations with business and civic leaders about a self-driving future, I often find them unaware of how this future is also being created by companies other than Tesla (although noting how big of a role it plays). For example, building on their $1B investment in self-driving tech company Argo, Ford has now joined forces with Volkswagen in another self-driving joint venture. Hyundai and Tencent have signed a deal to develop software for driverless vehicles. And the list goes on and on. I also share how Waymo already has driverless cars on Phoenix’s public roads, amongst other companies already testing self-driving vehicles around the globe.
I recently shared how Wing, a drone company owned by Google’s parent company Alphabet, had been approved to make drone deliveries in Australia. A similar approval is coming for them in Finland, and most recently, they have received regulatory approval in the US. Yet another sign of how deeply traditional industries (in this case aviation) are seeing regulatory bodies begin to pivot towards exponential tech-driven realities. A key point here is that this approval now paves the path for future drone delivery companies to enter a market that is poised to hit $40B in the next 5 years.