Fintech Daily Information Briefing on [August 27, 2020]
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The following is the Fintech Daily Information Briefing on [August 27, 2020] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.
[1]. Consensys acquired quorum, a blockchain platform owned by J.P. Morgan
On August 25, 2020, Brooklyn based technology start-up consensys announced its acquisition of quorum, a blockchain platform owned by JPMorgan Chase & Co. JPMorgan also made a strategic investment in consonsys as part of the deal, but the two companies declined to disclose the financial terms of the relationship. Umar Farooq, JP Morgan’s global head of blockchain, said in an interview that the quorum team will remain at JP Morgan to help complete the handover next year, and will later participate in other blockchain projects. Quorum will remain open source and is currently being used by JPMorgan to operate the interbank information network, a payment network involving more than 300 banks. JPMorgan said networks and other banking projects running on the quorum platform will continue to operate on the platform. ConsenSys, a well-known block chain start-up company, grew rapidly in the 2017 encryption currency bubble. It was reorganized earlier this year to separate its software development business from venture capital activities.
[2]. World Economic Forum Davos 2021 annual meeting postponed to summer
On August 26, 2020, the world economic forum decided to reschedule the 2021 annual meeting, which was originally scheduled to be held in Davos, Switzerland, to the beginning of next summer. In the week of January 25, 2021, the WEF will hold a high-level “Davos dialogue” in the form of a video conference, inviting major global leaders to share their views on the state of the world. On the premise of ensuring the health and safety of participants and employees, the forum will immediately announce the date and location of the 2021 annual meeting. The forum will continue to work hand in hand with partners and relevant parties to meet the challenges from the global, regional and industrial sectors. Since the outbreak of the epidemic in February, nearly 1200 members from enterprises, governments and social organizations have joined the forum’s “action platform for responding to new coronavirus”. In September, the world economic forum’s “sustainable development impact summit” will focus on the core principles of “world rejuvenation” to discuss with you how to contribute to a more sustainable and inclusive future.
[3]. Alibaba to suspend investment in India for at least half a year
Alibaba Group has shelved plans to invest in Indian companies and will not invest in Indian start-ups for at least the next six months, two people familiar with the matter said today. Previously, Alibaba has invested in several Indian start-ups such as paytm, zomato and bigbasket. But people familiar with the matter said today that Alibaba will not invest new money to expand its investment in India for at least the next six months.
[4]. Deutsche Bank women’s financial technology competition officially opened
On August 26, 2020, Deutsche Bank announced that the second women’s fintech challenge, jointly organized by the institution and ATOS, Google cloud and techquartier, was officially open for application. The deadline for registration of this competition is September 23, and the deadline for uploading business cases is September 30. On October 29, the selected 10 successful teams will compete in the final round. The first prize team of this competition will get the seat of ATOS financial technology program, and have the opportunity to participate in ATOS financial services sandbox and create, test and develop new financial products with the help of ATOS. Other winners will be supported by Deutsche Bank and Google innovation resources.
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