Blockchain Firm Raises $6 Mln From Major Energy Companies, Saudi Aramco Subsidiary

American blockchain startup Data Gumbo Corp. has raised $6 million from major energy companies, including the venture wing of Saudi Arabian national petroleum and natural gas company Saudi Aramco. The news was published by energy-focused news outlet Worldoil on May 8. In a Series A equity funding round, Data Gumbo ostensibly raised $6 million from companies such as Saudi Aramco Energy Ventures, the…

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StanChart makes first Singapore trade finance deal using blockchain

StanChart makes first Singapore trade finance deal using blockchain

Standard Chartered‘s Singapore unit has completed its first cross-border trade finance transaction on a blockchain-based platform. StanChart tapped startup Distributed Ledger Technologies’ platform to complete an agri-business supply chain deal in one day, instead of the normal five to seven, the bank announced. The blockchain technology, which enables parties in the supply chain network to…

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Chinese Bank Giants Tap Blockchain in Trade Finance Efficiency Boost

The China Banking Association (CBA), the country’s self-regulatory organization for the banking sector, is launching a new blockchain-based platform for trade finance. The platform was announced last week while the organization is in the process of rolling it out for live usage after several pilot programs aimed at improving the efficiency and security of trade finance transactions.…

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Ukraine to Get a Decentralized Agricultural Commodity Exchange in 2019

Ukraine to Get a Decentralized Agricultural Commodity Exchange in 2019

In 2019, Ukraine will launch what it claims to be the world’s first decentralized agricultural commodity exchange via blockchain technology. Will the model inspire similar initiatives in other countries? Agricultural Trading, On Chain The project aims to create a trading platform for all kinds of players in Ukraine’s agricultural industry, Roman Nazarov, general director of…

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lockchain Innovator ShelterZoom Announces Next-Generation, One-Stop Real Estate Marketplace

Blockchain Innovator ShelterZoom Announces Next-Generation, One-Stop Real Estate Marketplace

PropTech leader sets stage to launch the industry’s first blockchain-powered, end-to-end deal platform as a prelude to serving other industries. ShelterZoom, creator of the first blockchain-based real estate purchase and rental deal platform, today announced plans for a next-generation, one-stop real estate marketplace. Set to go live in Q1 2019, the marketplace will incorporate a…

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Fintech company Calastone to shift fund network to blockchain

Fintech company Calastone to shift fund network to blockchain

Calastone, an investment funds transaction network, said on Monday it will shift its entire system to blockchain in May, a move that could slash costs for the sector by billions of dollars a year. London-based Calastone provides back and middle-office services to more than 1,700 firms such as JP Morgan Asset Management, Schroders (L:SDR) and…

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Prefab & any construction ripe for disruption with blockchain

There’s hope on the horizon for the construction industry, which has been criticised for sluggish innovation. In the UK, proptech startup Ehab is using blockchain to decentralise the development process for the likes of prefab and 3D printing companies so that they can produce more affordable and sustainable housing. Josh Graham started building Ehab, a…

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