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Economy & Finances

Vadim Blaustein: Expert opinion on introduction of cryptocurrency to businesses

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2017 was marked by an unprecedented demand for the cryptocurrency. As a result, the cryptocurrencies grew in price at an incredible rate. For example, in April 2017 1 Bitcoin cost 1147,63 USD, in April 2018 the price is approximately 6992,51 USD. In December 2017, the price for 1 Bitcoin was almost 20.000 USD. Another popular cryptocurrency also showed growth, in April 2017 1 Ethereum was sold for 44,85 USD, and in April 2018 the price is 391,34 USD. “These indicators demonstrate the high capitalization of the cryptocurrency and the significant... Read More »

Octo Telematics partners with RCI Bank and Services to provide global telematics data analysis for vehicles

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Octo Telematics (Octo), the number one global provider of telematics for the auto insurance industry, has announced that it has entered into a global partnership with RCI Bank and Services, the finance company from Groupe Renault to provide its telematics services and advanced big data analytics to enhance the driving experience of drivers worldwide. As part of its sales process, RCI Bank and Services will offer customers the option to include an Octo device in their car to make their vehicle uniquely tailored to them and their driving style. ... Read More »

DHL and Accenture unlock the power of blockchain in logistics

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“The experiments with blockchain in finance are well known, but we believe logistics is an area where the new technology will have a truly profound impact,” insists Matthias Heutger, Senior Vice President DHL Customer Solutions & Innovation. “Implementing productive solutions however, will require further technological development and, critically, collaboration between all stakeholders.” Blockchain is a new type of database system that maintains, records and authenticates data and transactions. In supply chains, products are assigned uniqu... Read More »

BMW Group reports eighth successive record year despite high upfront expenditure

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In line with its Strategy NUMBER ONE > NEXT, the BMW Group continues to play a leading role in transforming the mobility sector with its future-oriented ACES programme: Automated, Connected, Electrified and Services. “We can look back on the most successful year in our corporate history and have achieved record levels for revenues and earnings for the eighth year in succession,” stated Harald Krüger, Chairman of the Board of Management of BMW AG in Munich on Thursday. “Since 2016, we have taken numerous strategic decisions to further grow... Read More »

Forbes’ 32nd Annual World’s Billionaires Issue

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Centi-billionaire Jeff Bezos seizes the top spot for the first time. Bezos has a fortune of $112 billion, up $39.2 billion from 2017, the biggest one-year gain ever. Bill Gates, who has been the richest person in the world for 18 of the past 24 years, drops to No. 2 on the Forbes billionaires list. Gates has a fortune of $90 billion, up from $86 billion last year. This is the biggest gap (in dollars) between the top 2 spots since 2001. Warren Buffett, worth $84 billion, falls to the No. 3 spot. His net worth increased from $75.6 billion in 2017... Read More »

Boeing Invests in Global Learning and Innovation Institute Singularity University

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Boeing [NYSE: BA] announced its investment in Mountain View, Calif.-based Singularity University (SU), an immersive and digital educational program provider, business accelerator, and global online community furthering the application of exponential technologies, including artificial intelligence, augmented and virtual reality, nanotech fabrication and robotics. Boeing and SU will explore opportunities to work together, which could include customized educational programs for Boeing employees and the addition of Boeing technical experts to SU... Read More »

Gazprom and ChelPipe sign roadmap to produce pipes for offshore projects

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In accordance with the document, ChelPipe will adopt the technology to produce pipes from the 25Cr Super Duplex steel and the UNS N06625 nickel alloy. Thanks to these materials, the equipment used in offshore environments will acquire such characteristics as ultra-high strength and corrosion resistance. No pipes of this kind are produced in Russia at the moment. It is planned to deliver, test and certify prototypes under Gazprom’s requirements in the course of 2018. The pipes will be used in the manufacturing of domestic equipment for subsea... Read More »

Forbes Releases Third FinTech 50 List: The Future Of Your Money

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The $8.5 trillion (market cap) U.S. financial services industry is being fundamentally reordered as technology disrupts not only individual behaviors, but also how big banks control risk and hedge funds place their bets. Worldwide, $27.4 billion poured into fintech startups in 2017, up 18% from 2016. With so much action in this industry, it is no surprise that 22 companies are new on this year’s FinTech 50 list. Notable newcomers include: Blend, Chainalysis, Remitly, The Bitfury Group and Enigma. We excluded public companies from our list and c... Read More »

ABN AMRO Clearing Bank develops alternative for escrow accounts

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With this new service, every individual client of the non-bank organisation gets a bank account with the ABN AMRO Clearing Bank (AACB) via the blockchain. That way, fund flows between the organisation and its clients are included in payment processes under regular supervision, guaranteeing the required transparency. This block chain method drastically reduces administrative costs for the organisation by eliminating escrow account management costs. Fintech Nxchange is the first client to launch this solution, starting in February. Great mark... Read More »

Forbes Releases First-Ever Crypto Rich List, A Compilation Of The 20 Wealthiest People In Crypto

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While the prices of individual cryptocoins continue to swing wildly, it’s clear that blockchain-based currency is here to stay and that these virtual assets have real, albeit volatile and speculative, value. “Our first-ever Crypto Rich list provides a snapshot of a pivotal moment, part of the transparency needed to pull crypto away from its provenance as an unknown currency,” said Randall Lane, Chief Content Officer, Forbes Media. Chris Larsen, a longtime tech executive and Founder of Ripple, tops Forbes’ Crypto Rich List. Larsen’s net wo... Read More »

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