- The New York startup has announced plans to move its blockchain-powered fraud mitigation network to the Corda open source blockchain.
- According to the firm, the fraud mitigation network makes it possible for banks to reduce fraud in receivables financing by allowing participating institutions to check if invoices have already been financed, as well as verifying the authenticity of electronic waybills.
- The firm says the blockchain-based platform enables banks to hash some parts of the invoice and formulate a unique fingerprint for it before publishing it to the network.
- Once the invoice gets published on the network, different states are set for the invoice, including “financed” or “registered” and the team has hinted that more rules will be added shortly.
Read full article: btcmanager.com
- The real reason it’s hard for startups to scale internationally is the same reason many of these startups are initially able to gain momentum domestically: developing a product that fits the needs of their specific market.
- If, however, a company initially foregoes a deeply localized product approach to cater to the needs of users in several countries at once, it’s likely the company’s product won’t get the initial boost of domestic engagement and adoption needed to get it off the ground.
- In an era of globalization where giants like Amazon, Uber, and Google are expanding internationally and have their sights set on emerging markets, local companies starting up in these emerging markets must use every advantage at their disposal to gain traction and stay competitive.
- Home Court Advantage
Time refers to the head start these companies have to establish themselves in their native markets before global companies enter and begin to capture share.
- Space refers to the deep knowledge local companies have about their country and its consumers–a knowledge that typically takes global companies several years to amass.
- Additionally, following a localized product approach allows local companies to exploit their deep market knowledge to attract consumers by offering a highly customized product.
Read full article: forbes.com
- Fintech investments in Singapore more than doubled to $365m in 2018 from $180m in 2017, putting the country among the top five fintech markets by funds raised last year in Asia Pacific, after China, India, Australia and Japan, according to Accenture’s analysis of CB Insights data.
- The number of deals in Singapore rose 16% to 71 in 2018 from 61 in 2017, according to Accenture, which defined fintech companies as those that offer technologies for banking and corporate finance, capital markets, financial data analytics, insurance, payments and personal financial management.
- Eight of the top 10 deals ever in Singapore took place in 2018, including the $60m cloud company Deskera raised in November, the $52m insurtech Singapore Life raised in December and the $32m cryptocurrency and blockchain startup Terra raised in August.
- The investment data ranged from 2010 through 2018, and included equity and non-equity financing.
Read full article: internationalinvestment.net
- Martin Schwenk recalls an African proverb during the course of the conversation: ‘If you want to go fast, go alone.
- On the contrary, continues Schwenk, teams working together help open up individual minds and pave the way forward.
- There is still potential which is not being fully leveraged in terms of working together in different functions,” says the MD.
- This explains why even the move to go for an open office is a big step forward since it does away with a certain hierarchy structure and now promotes respect for competence.
- Perhaps this could also see swapping of competent people from one company to another though these are early days yet and there could be obvious reluctance in relocating from one city to another.
Read full article: thehindubusinessline.com
- Redis Labs, the provider of Redis Enterprise, announced details about its 14th consecutive quarter of double-digit growth and its annual growth of more than 60% in the company’s 2019 fiscal year.
- It was just last week, when Redis Labs, a California-based computer software startup, announced that it has raised $60 million in Series E financing round led by a new and leading private equity firm, Francisco Partners .
- Moreover, Redis Labs finished the 2019 fiscal year with more than 250 full-time employees, with its global headcount increasing 50 percent in the past year.
- Based on the record growth results and recently secured funding, Redis Labs aims to accelerate its plans in the new fiscal year across different departments including sales, marketing, and product development.
Read full article: hub.packtpub.com
- Hmlet co-founder Yoan Kamalski says Australia was the next natural step
Singapore-based co-living firm Hmlet announced on Monday that it has acquired Australian co-living operator Caper Property Group for an undisclosed amount, just three months after raising $6.5 million in a Series A funding round led by Sequoia India.
- Of the two properties included in the deal, one is a facility at 601 King Street property in the Sydney suburb of Newtown, which is designed to accommodate 20 members and offers co-working, communal living, and kitchen spaces, as well as a rooftop terrace.
- Hmlet declined to comment on the value of the acquisition, but Caper had purchased at least A$28 million worth of real estate in Sydney last year.
- We r urban, however, included only a residential management platform at the time of acquisition, whereas the Caper deal includes a portfolio of real estate assets.
- Hmlet, which projects to have more than 2,400 beds by the end of this year, aims to have 1,000 members in Australia in 2020, according to the Australian Financial Review.
Read full article: mingtiandi.com
- The concept of consensus within a distributed network,
rather than a central authority, is integral and can bring benefits
to the financial sector, digital rights management systems, voting
systems, supply chain control, and many other areas.
- Recognition of obstacles
that may prevent blockchain from spreading is also an important
- You should contact
blockchain companies for your blockchain app development.
- Based on
this, the necessary laws and regulations should be applied and
updated so that they support progress, rather than impede the
Initial Coin offering (ICO) has become a popular approach to raising
capital in the cryptocurrency sphere, as they bypass many obstacles
that are associated with a more traditional process of raising funds
by creating venture capital.
Read full article: ripplenews.tech
- As some readers may recall, last year Walmart integrated India’s Unified Payments Interface (UPI) as a payment tool for their registered e-commerce platform members.
- UPI is a mobile real-time payments system managed by the National Payments Corporation of India (NPCI).
- This piece, posted in PaymentsSource, discusses a partnership between Walmart and PhonePe a mobile payments app that is part of the 2007 e-commerce startup FlipKart, which is now majority-owned by Walmart.
- ‘Walmart India will partner with the PhonePe network to offer a mobile payment option at Walmart’s B2B cash-and-carry stores.
Read full article: paymentsjournal.com
- Blockchain microgrids have become a pivotal theme in the rapidly developing energy sector.
- Amit Sharma, Power Analyst at GlobalData, a global data and analytics company, offers his view on this development and what we can expect from blockchain microgrids in the future:
This information is based on two GlobalData reports: Microgrids, Update 2018 and Key Country Analysis to 2022 Blockchain in Utilities.
- ” As the market liberalizes and renewable energy grows, blockchain offers an effective way to handle the increasingly complex and decentralized transactions between users, large and small-scale producers, retailers, traders and utilities.
- Blockchain plays a key role when companies have shared infrastructure.
Read full article: windpowerengineering.com
- Indonesia-based traveltech startup Traveloka has made its debut beyond the Southeast Asian region by launching its services in Australia.
- Users in Australia can now access Traveloka services via website or app.
- The post Indonesia’s Traveloka expands to Australia appeared first on e27 .
Read full article: finance.theindependent.sg