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New York State Approves Two Dollar-Based Cryptocurrencies

Engadget, Swapna Krishna  |  Sept. 11, 2018
In a sign that digital currencies may be maturing, the state of New York has authorized Gemini Trust Company LLC and Paxos Trust Company LLC and to each offer a price-stable cryptocurrency—commonly known as “stablecoin”—pegged to the U. S. dollar. “As the financial technology marketplace continues to evolve, New York is committed to fostering innovation while ensuring responsible growth,” said New York’s Department of Financial Services Superintendent Maria Vullo. “These approvals demonstrate that companies can create change and strong standards of compliance within a strong state regulatory framework that safeguards regulated entities and protects consumers.”

The NYSE Bitcoin Exchange

Daily Fintech, Llias Louis Hatzis | August 6, 2018
The announcement that International Exchange (ICE), operator of 23 leading global stock exchanges including the New York Stock Exchange, announced it is partnering with Microsoft and Starbucks to create a Bakkt, a Bitcoin trading platform that allows investors to buy and hold Bitcoin without the use of futures, derivatives or other types of contracts. “This is game-changing,” wrote Daily Fintech’s Llias Lois Hatzis. “Individuals would be able to add Bitcoin to their IRA or 401k. It will open up access to millions of people who have been sitting on the sidelines not able to add Bitcoin to their portfolios.”

Fed Chairman Powell Addresses Cryptocurrencies

WolfStreet.com, Wolf Richter | July 23, 2018
During his testimony before the House of Representatives Committee on Financial Services, Federal Reserve Chairman Jerome Powell, was asked by representatives Patrick McHenry (R-NC) and Juan Carlos Vargas (D-CA) about the Fed’s thinking on cryptocurrencies. “Instead of pussyfooting around the issues, as Fed chairs used to do, he refreshingly stepped right into it, with both boots on the ground, so to speak,” wrote Wolf Richter.

Groundbreaking Legislation Announced Supporting Blockchain and Digital Currencies

Press Release, Representative Tom Emmer | Sept. 21, 2018

Representative Tom Emmer (R-MN), a co-chair of the Congressional Blockchain Caucus, announced he will introduce three groundbreaking bills to support blockchain technology and digital currencies. Specifically, the legislation expresses support for the industry and development of these promising technologies in the United States, provides clarity to entities that never take control of consumer funds, and establishes a safe harbor for taxpayers with “forked” digital assets.

Breaking Blockchain Open

Deloitte | September 2018

In Deloitte’s 2018 Global Blockchain Survey, 84% of the executives surveyed believed that blcockhain technology is “broadly scalable and will eventually achieve mainstream adoption” and 75% of respondents see a “compelling business case” for using blockchain. Moreover, 68% say that their competitive advantage is on the line. Deloitte concludes, “blockchain is at an inflection point, with momentum shifting from ‘blockchain tourism’ and exploration to the building of practical business applications.”

Blockchain Investment in First Six Months of 2018 Exceeds 2017 Annual Total

The Pulse of Findtech 2018, KPMG | July 31, 2018

KPMG’s Pulse of Fintech 2018 analyzes the global investment in fintech across venture capital, private equity and mergers and acquisition investments. During the six months of 2018, investors focused on a broader range of innovative technologies than ever before, according to KPMG. “In particular, investments in blockchain doubled the first half of 2018 compared to 2017,” according to KPMG’s Safwan Zaheer. “Blockchain has the potential to transform banking and if banking systems were to be rewritten today they would be based on blockchain.”

The Benefits of AI & Machine Learning

Sinequa | Sept. 2018
Sinequa’s infographic, The Benefits of Becoming Information Driven Using AI & Machine Learning, highlights how the modern enterprise can use AI and Machine Learning to provide actionable insight to enable intelligent automation and decision-making.

How Machine Learning Helps Prevent E-Commerce Fraud

TransUnion Blog, Glen Goldstein | Aug. 22, 2018
Sometimes it takes a machine-learning computer to detect fraud rather than traditional rule-based algorithms, according to TransUnion’s Glen Goldstein. “Machine learning algorithms are designed to learn from experience and iteratively improve their performance,” according to Goldstein. “Essentially, they adapt as the massive number of factors and conditions evolve within a data set, and can essentially keep up with many of the behaviors that humans — and in the case of e-commerce fraud, criminals — throw at them.”

How AI Is Transforming the Financial Ecosystem

World Economic Forum and Deloitte | Aug. 15, 2018
Artificial intelligence is fundamentally changing the physics of financial services ecosystem. AI is weakening the bonds that have held together the component parts of legacy institutions, opening the door to entirely new operating models and ushering in a new set of competitive dynamics that will reward institutions focused on the scale and sophistication of data much more than the scale or complexity of capital. This 167-page report, prepared by the World Economic Forum with Deloitte, provides a comprehensive exploration of the impact of AI on financial services.

How Will the Adoption of Internet of Things Change Our Daily Lives?

GigaOm.com, Byron Reese and Lauren Sallata | Sept. 4, 2018
In a GigaOM interview, Lauren Sallata, Panasonic’s chief marketing officer, discusses how the Internet of Things will change out daily lives, thanks to unparalleled data and voice technology that allows personalized and seamless interaction.

Kroger Partners with Nuro to Test Self-Driving Grocery Delivery Service

AndNowUKnow.com, Kayla Webb | Aug. 16, 2018
Kroger has joined Walmart in the race to integrate self-driving cars into their grocery delivery service, announcing its partnership with Nuro to pilot a grocery delivery service using Nuro robots. Initially, Nuro’s fleet of Toyota Prius vehicles will have seats for humans to assist with the grocery delivery process. Later this fall, Nuro will begin testing custom R1 driverless vans that have no seats for humans.

Unleashing the Power of Digital Industry

Momenta Edge Podcast, Guido Jouret | Aug. 15, 2018
Guido Jouret is the Chief Digital Officer at ABB, a technology leader in power grids, electrification products, industrial automation and robotics and motion. In this podcast, Jouret discusses a wide range of topics, including the dynamics of digitizing traditional operational technologies, the importance of Industrial IoT platforms particularly ABB’s Ability platform, the multi-faceted partnership with Microsoft and the demands of bridging operational and information technology paradigms. The discussion highlighted several customer success stories in mining, autonomous shipping and utilities, addressing the massive potential of AI to transform industries and sectors including energy, power grids, transportation and manufacturing. The key for the future will be a digital operating system that will enable far more distributed networks to evolve, while finding people with the skills to address the increasingly complex technical demands of a connected world remains a challenge.