Chinese Insurers Tap Blockchain to Speed Coronavirus Payouts – CoinDesk

Blockchain technology is reportedly helping to streamline medical paperwork processing for insurance service providers as global coronavirus containment efforts continue. Leveraging blockchain’s ability to process information transparently and efficiently, insurance service providers are relying on the technology to speed claims payouts in over 27 coronavirus affected Chinese cities, as well as Hong Kong, according to […]

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Paystand Raises $20M to Be Blockchain-Based ‘Venmo’ for Commercial Payments – CoinDesk

Paystand, a platform using blockchain technology to automate commercial payments, has raised $20 million in Series B funding. Backing the round are a number of VC firms including DNX Ventures, Battery Ventures, Epic Ventures, Commerce Ventures and Wildcat Ventures. Existing investors Leap Global Partners and BlueRun Ventures also took part. Paystand aims to makes complex […]

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Intermex Partners With Ripple for XRP-Based Remittance Corridor – CoinDesk

Ripple’s technology will form the basis of a new XRP-based remittance service from International Money Express (Intermex). Ripple announced Tuesday it is partnering with Intermex, which will leverage RippleNet – a network of institutional payment providers using Ripple’s several payments solutions – to develop “faster, transparent cross-border remittance services” between the U.S. and Mexico. The […]

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MIT Develops ‘Spider’ Tech to Enable More Efficient Off-Chain Crypto Transactions – CoinDesk

Researchers at the Massachusetts Institute of Technology (MIT) have co-developed technology they say can help avoid congestion on off-chain cryptocurrency payments networks. The “Spider” crypto routing scheme, according to its developers – including Vibhaalakshmi Sivaraman, a graduate student at MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) – offers a more efficient type of payment […]

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Mobile Phone Retailer Joins China’s Blockchain Land Grab With US Startup Investment – CoinDesk

Dixintong Technology Group, whose parent company, D.Phone, is one of the largest smartphone retailers in China, has entered the blockchain space by acquiring a minority stake in a U.S. startup called Monsoon Blockchain. The two companies confirmed to CoinDesk that the purchasing agreement was signed on Jan. 7, but declined to disclose any financial terms […]

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EY Open-Sources Tech It Says Slashes Cost of Private Ethereum Transactions – CoinDesk

Accounting multinational EY has released blockchain technology that it claims greatly reduces the cost of private transactions. In an announcement on Thursday, the firm said the third-generation of its zero-knowledge proof (ZKP) tech for the ethereum blockchain – originally dubbed Nightfall – is now available in the public domain (the documentation can be seen on […]

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Chinese Insurance Giant Ping An’s Blockchain Arm Reveals Terms for $468M IPO – CoinDesk

OneConnect Financial Technology, the blockchain and AI subsidiary of China’s top insurance company Ping An Insurance, has set the terms for its previously announced initial public offering (IPO). According to an updated F-1 filing with the U.S. Securities and Exchange Commission (SEC) on Monday, the firm aims to raise between $432 million and $504 million […]

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