Search Results for "digitization"
R3 Partners with Dubai Fintech Firm to Revolutionize the Sukuk Market
Enterprise software firm R3 recently entered into a strategic partnership with a Dubai-based fintech firm, Wethaq. The partnership aims to bring together a platform for issuing and trading Sukuk securities by utilizing R3 Corda’s blockchain.
Banking on Blockchain: FinTech and Digitalization Will Play a Significant Role for the Chinese Banking Industry
China’s banking industry for small to medium-sized enterprises (SMEs) will rely on digitization and financial technology to build a “new infrastructure” for the entire industry. Highly endorsed by the country’s president, Xi Jinping, blockchain technology has seen a surge in popularity in the past year.
Meet the FinTech Entrepreneur: Co-Founder of FinFabrik, Florian Matthaeus Spiegl
There has been a lack of innovation and digitization in the capital market systems, we sat down with Florian Spiegl, the Chief Operating Officer of FinFabrik in Hong Kong, to explore his journey from the traditional capital markets industry to the new modern digital space. FinFabrik, a start-up focused on bridging the gap between the traditional financial markets and the digitization of assets has come a long way helping institutions to digitize illiquid and alternative assets.
Chinese Bank Issues the First Asset-Backed Commercial Paper in China on Blockchain
China Zheshang Bank, based in Zhejiang province has leveraged blockchain technology to issue the country’s first asset-backed commercial paper in the Chinese financial market. China Zheshang Bank successfully issued the “Lianxin 2020 Lianjie First Phase Asset-backed Commercial Paper,” which was worth 120 billion yuan ($16.93 billion). The asset-backed commercial paper (ABCP) was issued as a part of the National Association of Financial Market Institutional Investors’ (NAFMII) pilot project. ABCPs are short-term investments issued by financial institutions to support companies in their short-term goals.
The World Economic Forum Highlighted Blockchain and Digitization to Address COVID-19 Supply Chain Disruption
The World Economic Forum (WEF) published a report on the importance of blockchain in supply chain disruption amid the coronavirus pandemic. Although the report suggested that blockchain may not be able to support the damage caused by the impact of COVID-19 directly, it may help with supply chain visibility.
MAS Completes CBDC Project Ubin Phase 5, Blockchain Sector Sees Major Growth Despite COVID-19
Sopnendu Mohanty, the Chief FinTech Officer at the Monetary Authority of Singapore (MAS) announced that Phase 5 of Project Ubin has been completed, and partners of the project are already working on a production in the payments space. A new report is to be expected in the next few days, which will “articulate the last phase of experimentation of Project Ubin.” He hinted that the production is related to exchange, settlement, and will be working on releasing production inspired by Project Ubin Phase 5.
Sierra Leone Revamps National ID Infrastructure with Blockchain
According to Sierra Leone’s President, Julius Maada Bio, the nation intends to use blockchain technology in restructuring the national ID system.
SAP and GS1 to Establish Blockchain Prototype to Enhance Road Safety
SAP and GS1 have created a blockchain prototype intended at the digitization of tire retread activities for better road safety. Notably, the blockchain network deployed will be instrumental in tracking tires’ life-cycle.
Toyota Reveals Blockchain Lab to the Public After Almost a Year of Development
Japanese automotive company Toyota Motor Corporation, in collaboration with Toyota Financial Services Corporation announced its Blockchain Lab involving six Toyota Group companies. The Lab plans to focus on exploring the future of the automotive industry, and said it aims to become a “Mobility Company.”
China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain
China’s central bank, the People’s Bank of China (PBoC) Financial Technology Committee held its first meeting of the year this week, after months of delay due to the coronavirus pandemic. Fan Yifei, the PBoC’s deputy governor echoed President Xi Jinping’s call for the acceleration of the country’s blockchain development adoption. The president pointed out that it is necessary to strengthen fundamental research of blockchain technology and enhance innovation, enabling China to take a leading position in the blockchain field. The bank’s deputy governor met with the central bank’s officials as well as the heads of their affiliated financial institutions. Fan emphasized the importance of blockchain and financial technology (FinTech) industries and wanted to ensure China’s adoption plan would be laid out and implemented by 2021 to be in line with the deadline they have set out.
India’s Tea Board Contemplates Using Blockchain to Stamp Out Tea Adulteration
India’s Tea Board seeks to mitigate the problem of tea adulteration by using blockchain technology as this will enhance consumers’ experience, as well as preserve the reputation of the Indian tea. Moreover, the consumption of tea in this nation will be boosted through an improved experience.
Belt and Road Initiative – Hong Kong the Gateway for RMB Internationalization
Many analysts have come to view BRI as a diplomatic offensive with geopolitical motives. However, the initiative is primarily driven by the Middle Kingdom’s pressing need to transform its national economy through further integration with the world.