IBM wins major blockchain deal with European banks – Computer Business Review

IBM won the contract following a global competitive bidding process.

IBM has signed a lucrative deal to provide a European banking consortium with blockchain-based financial trading.

Based on IBM Blockchain powered by Hyperledger Fabric, the new trade finance platform will aim to simplify and facilitate domestic and cross-border trade for small and medium enterprises in Europe, while helping to increase overall trade transaction transparency.

Big Blue was chosen by the Digital Trade Chain Consortium which consists of Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Societe Generale and Unicredit.

The Digital Trade Chain solution will run in the IBM Cloud and is designed to connect the parties involved in a trade transaction, both online and via mobile devices. It is designed to simplify trade finance processes by addressing the challenge of managing, tracking and securing domestic and international trade transactions.

More at: IBM wins major blockchain deal with European banks – Computer Business Review

Blockchain Project Waves launches landmark USD gateway – Blockchain News

Waves Platform has kicked off their USD gateway which is now live within the client. Waves users can deposit USD via the secure gateway, receiving in return a token that is 100% backed by dollar reserves. This can be held, transferred and exchanged for other tokens quickly and at low cost, and withdrawn back through the gateway into the traditional financial system when required.

“Alongside EUR deposits and withdrawals, the USD gateway offers Waves users an easy way to move money into the blockchain ecosystem, enabling them to invest in tokens and ICOs with fiat. This was always one of the key propositions for the Waves platform: the ability to send and trade with fiat-backed tokens,” says Waves CEO Sasha Ivanov.

More at: Blockchain Project Waves launches landmark USD gateway – Blockchain News

‘Absolutely Necessary’: How Blockchain Could Help Tech Giant Cisco Reboot – CoinDesk

Cisco is changing.

The technology firm best known as the supplier of enterprise computer hardware has seen a slow, steady decline in revenue from some of its core products. As a result of an increasing number technological services being virtualized, and the storage of information moving to the cloud, the $158bn firm has been restructuring and exploring new ways to capitalize on connected devices.

But amidst this change in identity, it’s in identity itself where some of the California-based company’s most interesting new experiments are taking place. With a series of early stage blockchain projects, Cisco is now pushing even deeper into what could end up being much more than a way for employees to prove who they are across subsidiaries.

In conversation with CoinDesk, Robert Greenfield IV, Cisco software engineer and executive team lead of the firm’s Connected Black Professionals resource group, explained how several blockchain projects have evolved into a new way for corporations to prove identity.

Greenfield said:

“On a grand scale, it’s going to be absolutely necessary for Cisco to really master blockchain technology, because it’s bridging the gap between hardware and what Cisco as a company is transitioning towards, which is software and security.”

More at: ‘Absolutely Necessary’: How Blockchain Could Help Tech Giant Cisco Reboot – CoinDesk

Indian IT Giant Infosys is Working on 50 Blockchain Pilot Projects – Cryptocoins News

Indian software services giant Infosys is working on 50 different blockchain pilots with a majority of them in non-financial services.

One of India’s largest IT vendors is going all-in on blockchain technology development in areas beyond finance. As reported by local publication Business Line, Infosys’ chief of emerging technology solutions Prasad Joshi pointed to a marked shift in strategies for the software major as it looks to invest and explore in new technologies across multiple industries.

He stated:

Our 500 blockchain specialists and 1,000 consultants form a part of the core group that will take these blockchain technologies to existing and new customers.

The executive revealed details of a blockchain pilot being conducted for an unnamed US coffee company’s retail supply chain. The solution sees transactions and contracts between the coffee company, the coffee growers and other ancillary parties in the supply chain recorded and stored on a blockchain. “With blockchain, you can get a dashboard in which all parties can look at the information and make decisions accordingly,” Joshi added.

More at: Indian IT Giant Infosys is Working on 50 Blockchain Pilot Projects – Cryptocoins News

AIG and IBM to use blockchain for a ‘smart’ insurance policy – Computer Business Review

Insurance is a space that is in desperate need of digital transformation.

Blockchain is set to break new ground in the development of “smart” insurance policies as American International Group (AIG) and IBM collaborate to carry out the process.

The intention is to create an insurance policy that uses the cutting edge technology to manage international coverage, a task that is currently highly complex.

Moves have already been made towards bringing this project to reality, as the duo have conducted and completed a pilot of a multi-national policy for Standard Chartered Bank PLC.

AIG and IBM have said that this is the first instance of the use of blockchain in this specific way; this marks another stride towards blockchain becoming a practical and trusted method that can revolutionise traditional processes.

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Thomson Reuters to Act as Trusted Data Source for the Blockchain Ecosystem – Finance Magnates

Thomson Reuters is the first major industry player to make a smart oracle available in the blockchain ecosystem, BlockOne IQ.

Thomson Reuters (NYSE:TRI) has made a smart oracle available in the blockchain ecosystem for lean experimentation purposes. This means that organizations are now able to represent real market conditions in their proof of concepts by using the smart oracle, BlockOne IQ, to include current and historical market data within their applications, with cryptographic proof that Thomson Reuters is the source.

“After speaking with our customers, it became clear that there isn’t currently a participant in the blockchain ecosystem that is acting as a trusted source of external data for many of the financial services use cases,” said Sam Chadwick, Director of Strategy in Innovation and Blockchain, Thomson Reuters. “At our core, Thomson Reuters provides access to aggregated, high quality data and analytics – two characteristics that play well in an oracle and smart contract system – so it’s a natural transition for us, and another mechanism to deliver our content to industry participants.”

More at: Thomson Reuters to Act as Trusted Data Source for the Blockchain Ecosystem – Finance Magnates

Hewlett Packard Selects Blockchain Technology for Mission Critical Systems – Finance Magnates

Hewlett Packard Enterprise (NYSE: HPE) has announced that it have entered into a partnership with R3 to bring the Corda DLT platform (Distributed Ledger Technology) to Mission Critical Systems – HPE’s platform for high-volume, high-value workloads.

The partnership kicked off with a proof of concept created in collaboration with HPE Labs, HPE Mission Critical Systems and R3, demonstrating R3 Corda running on the HPE Integrity NonStop Platform.

Markus Ogurek, Global Financial Services & Insurance Industry at HPE, added:  “HPE Pointnext is also pleased to announce a Blockchain Discovery Workshop to help customers leverage new DLT operating models and expertise in distributed-ledger, IoT, hybrid, and the-edge.

HPE is excited to be adding DLT to its long history of innovation, so we can help customers meet the challenges they face as they grow and thrive.”

Source: Hewlett Packard Selects Blockchain Technology for Mission Critical Systems – Finance Magnates