5 Key Stories From The Digital Worlds

July 11

BY NABYL CHARANIA

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.