by Florin Oprea
A blockchain-enabled decentralised database makes the data immutable and allows them to be transferred more quickly.
FAO: Participants in this Series A round are Global Brain, LUN Partners Capital and True Global Ventures.
Enoch Yiu – SCMP
China Life and Ping An Insurance, the country’s two largest insurers, have both been focusing heavily on investment in technology, and now it appears artificial intelligence (AI) may becoming more important than sales agents across the sector, as premium income continues to soar.
FAO: A section with a pretty rare presence in our daily bulletin – no surprise that today’s content comes from China. The largest insurer by market value, Ping An, is also scouting for fintech companies in the United States, Israel and Singapore, as reported last month.
Katie Roof – TechCrunch
Billionaire entrepreneur and investor Mark Cuban has been advising chat app Dust for the past few years. And now, Radical App, the group that oversees Dust, is adding two more properties.
The team will be releasing its Mercury Protocol blockchain messaging technology by the end of next month. The business also will be introducing Broadcast, a social media platform that targets online harassment.
FAO: Mark Cuban has shown a lot of interest for blockchain lately…he is also investing in 1confirmation, a cryptocurrency fund – more details in our sister publication Blockchain Daily News.
Maggie Zhang – SCMP
Bank of Communications, the nation’s fifth biggest lender, joined with Suning Holdings and its financial affiliate Suning Finance as strategic partners last week, the latest of the big five banks to ally with internet firms.
So far, all big-five banks, accounting for more than one-third of China’s banking assets, have allied with technology giants.
FAO: …and here are the other four win-wins – Alibaba Group’s Ant Financial & China Construction Bank, JD.com & Industrial and Commercial Bank of China, Baidu & Agricultural Bank of China, Tencent Holdings & Bank of China.
Tomas Laurinavicius – Huffington Post
Probably the most significant benefit of blockchain in commerce is cost reduction. Today, business transactions run through a complex network of vendors, including credit card networks, banks and payment processors. Blockchain removes all the unnecessary middlemen allowing for cheap, quick and reliable peer-to-peer transactions.
Hong Kong Monetary Authority (HKMA) CEO Norman Chan Tak-lam said the authority is working with stakeholders in the financial industry to promote the development of fintech.
The authority is also cooperating with Singapore to look into the launch of blockchain technologies related to trade and finance.
FAO: HK is cooperating with everybody, Dubai also, check the next article…
Enoch Yiu – SCMP
The Securities and Futures Commission has entered into a cooperation agreement with the Dubai Financial Services Authority (DFSA) to establish a framework for the two regulators to help each other develop the fintech industry.
Samantha Hurst – Crowdfund Insider
Marvelstone Group’s LATTICE80 is set to open a fintech hub in London as part of its global expansion.
FAO: LATTICE80 started a very aggressive development. The Singapore fintech hub has recently announced its plans to open an India office (here)
Yolanda Redrup – AFR
Sydney-based fintech accelerator H2 Ventures is preparing to take its program international and expand into artificial intelligence and big data after doubling its intake of startups.
FAO: Yip, Sydney is moving good too…
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News