DiGiSPICE: Industry Monitoring 16 to 18 February 2019
- Priyanka Kanodia
- Feb 19, 2019
- 7 min read
DiGiSPICE
Competitors
Paytm parent pledges all assets to borrow from ICICI Bank
Publication- The Economic Times
Edition- Online
Date- 16 February, 2019
One97 Communications, which owns digital payments major Paytm, has pledged all it current assets and mutual fund investments to ICICI Bank in order to be able to borrow up to ₹1,400 crore for working capital, according to documents filed with the Registrar of Companies. Working capital is needed for every corporate entity to function, but industry executives said an enhancement in the limit could indicate the company might need money to aggressively fund its expansion plans or use it for new businesses. Paytm could be using the funds to push its plans on Paytm Postpaid, which it runs in partnership with ICICI Bank, they added.
ET’s email query to One 97 Communications remained unanswered till the time of going to press. Through Paytm Postpaid, eligible customers can buy services at one go and pay later. The company had started the service with ICICI Bank customers only. Industry executives have pointed out that this could be the next big disruption in the payments space.
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Industry News
Government-backed 5G trials hit a policy snag
Publication- The Economic Times
Edition- Online
Date- 18 February, 2019
Government-backed field trials of fifth generation cellular mobile communications technology appear to have hit a snag even before their start. The wireless planning wing of the Department of Telecommunications (DoT) has said that free spectrum for 5G trials can be allocated only for 90 days, citing current rules. But mobile phone operators and equipment vendors have said that at least a year is needed to run complicated field trials. A senior government official said that current rules impose a time limit of 90 days and that no decision has been taken yet on whether 5G airwaves for trial purposes could be allocated for a year.
The government has already invited incumbent telecom operators – Vodafone Idea, Bharti Airtel, Reliance Jio and Bharat Sanchar Nigam Ltd (BSNL), in addition to network vendors such as Cisco, Huawei, Samsung, Ericsson and Nokia to undertake 5G-based pilots and showcase India-centric use cases by early 2019. The government expects commercial 5G services to be rolled out in 2020.
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Art of staying relevant is important: Ericsson MD
Publication- The New Indian Express
Edition- Online
Date- 17 February, 2019
Managing Director of Ericsson Global Services, India, Amitabh Ray stressed on the art of staying relevant these days as the world is witnessing fast technological upgradations. Delivering the 16th Foundation Day Lecture at KIIT University here on Saturday, Ray said the velocity of transformation has been unpredictability a new normal. “Speed of change that the human race is going through is increasing exponentially. The change in the world in next 20 years will be as much as it had changed in the last 1000 years.
The change will primarily be driven by technological changes,” he said. In the current scenario, Ray said, the corporate decision making also involves dealing with paradoxes like short-term profits and long term goals, growth and environment.
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First Blockchain Summit Backed by Indian Government Set to Kick-Off on 22nd of Feb
Publication- Crypto News
Edition- Online
Date- 16 February, 2019
When it comes to blockchain and crypto themed events in India, they’re often organized by private entities only. They also don’t observe the kind of crowd that is seen in other countries where blockchain and cryptocurrencies have been accepted by the governments. However, these things are set to change now because first government-backed blockchain summit is going to be held in India from February 22 – February 23.
Yep. Believe it or not, but it’s happening. Our government, which accepts the potential of blockchain half-heartedly by bashing crypto and embracing blockchain, has decided to support its first blockchain themed event. The event is being organized by Auxesis Group, a private blockchain company developing solutions for the banking sector. However, what makes this event different from others held until now is supported extended by Central Government’s Department of Science and Technology and the State Government of Uttar Pradesh. The venue of event is IIM Lucknow’s Noida Campus, and HRD Ministry will also be participating in it.
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HSBC Bank Adopting Blockchain Technology
Publication- Crypt Buzz
Edition- Online
Date- 16 February, 2019
HSBC bank, a multinational bank has adopted block chain technology to reduce the settlement cost for foreign exchange trades. As per the source the cost would be reduced by a quarter. Block chain technology will also help in faster settlement. According to Mr. Mark Williamson, the COO of forex cash trading and risk management at HSBC – The bank generally process around 3,500 to 5,000 trades worth 350 billion USD worldwide daily and the company is really interested in bringing the technology mainstream.
As we know the banks are not favouring crypto currencies but the banks are supporting the technology behind it. The banks have been exploring block chain technology since 2015. As per reports suggested, the Central Bank of Iran is also working two block chain start-ups on a new token eco-system.
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Blockchain In 2019 – How Will It Impact Industries
Publication- Business World
Edition- Online
Date- 17 February, 2019
2018 was the year where cross-industry compelling cases gave the confidence that blockchain is not just a passing phenomenon. While there were a number of initiatives at proof of concepts stage, while a few moved into production as well. Blockchain startups attracted nearly $3.9 bn in venture capital investments in the first 3 quarters of 2018, nearly 3 times bigger than whole of 2017. Technology companies are also making headway in ramping up blockchain capabilities.
For e.g. IBM has invested $200 mn in blockchain powered Internet of Things. What works in favor of blockchain is the number of services that can be improved upon ranging from recordkeeping, registration of transactions, document management, supply chain management, and identity management. Its benefits can be reaped by all kinds of businesses across industries ranging from recordkeeping, registration of transactions, document management, supply chain management, and identity management. It is further expected to make substantial progress across industries in 2019 and beyond. The 5 key industries that will ripe major disruptions are:
Banking: Today, banks’ core function of verifying information and transferring assets is in alignment with the USP of blockchain. Major pain points in cross border payments and trade finance can be easily solved with the intervention of blockchain as it involves time and cost efficiency without the need of intermediaries.
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WELCOME TO BLOCKCHAIN SUMMIT INDIA 2019 – MAKING INDIA THE BLOCKCHAIN CAPITAL!
Publication- Inventiva
Edition- Online
Date- 17 February, 2019
Department of Science and Technology, Government of India and L-Incubator, Indian Institute of Management Lucknow has partnered with Auxesis Group and Proviar Solutions to host Blockchain Summit India on 22-23 February 2019 at IIM Lucknow Noida Campus. The initiative is being taken in order to harness the country’s potential around Blockchain Technology and Crypto economy. The agenda of the summit will help to better understand the new technology as well as drafting out policies to develop a blockchain ecosystem and shape up cryptocurrencies for a new India.
Policymakers of the country including ministers & bureaucrats from Departments of Science & Technology, Law, Commerce, and HRD will be joining in at the event. The summit is observing the presence of senior faculties from the country’s premium academic institutions in order to focus on technology & ecosystem development at education levels. Global Crypto economists, technology pioneers, and community builders, academicians across the world have been invited to help India gain expertise and experience of blockchain leaders.
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How Internet of Things will power business processes in 2019
Publication- The Financial Express
Edition- Online
Date- 18 February, 2019
As advancing technologies integrate deeper into the everyday functions of businesses, companies are finding themselves faced with a paradigm shift towards a more intelligent and connected world. Amidst the maturing technologies leading this revolution is Internet of Things (IoT). By the year 2020, companies will be spending $310 billion in IoT every year. Some key IoT trends that can be expected to further gain tractions in the coming year are: Centralised IoT systems will become a vital force to drive businesses:
A centralised IoT system delivered as a Software-as-a-Service (SaaS) solution can help businesses reduce their go-to-market cycle and increase the speed at which they innovate. It also helps them meet end-to-end security and scalability requirements – a key area of focus for most enterprises.
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Why blockchain has caught the fancy of IIT-B
Publication- Livemint
Edition- Online
Date- 18 February, 2019
On 4 June 2018, the Indian Institute of Technology, Bombay (IIT-B), signed an agreement with US-based Ripple Labs Inc., to create a centre of excellence to support academic research, technical development and innovation in blockchain, cryptocurrency and digital payments.
IIT-B, thus, became one of the 17 universities across the world to benefit from the $50-million Ripple fund for its global University Blockchain Research Initiative (UBRI). “The idea is to create the next generation of students and entrepreneurs," says Navin Gupta, managing director, South Asia and MENA (Middle East and North Africa), Ripple.
The partnership is expected to enable IIT-B’s faculty and students with opportunities for research and technology development in blockchain and cryptocurrency, which could add value to the global blockchain ecosystem, as well as industries such as fintech, professor Devang V. Khakhar, director, IIT-B, had said after signing the agreement.
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Solving enterprise problems using Cloud and IoT
Publication- Livemint
Edition- Online
Date- 18 February, 2019
We profile two enterprise tech startups that are using software as a service (SaaS) and the internet of things (IoT) to develop and provide solutions across sectors.
RateGain: Saas solutions for travel and hotels
Noida-based RateGain provides cloud-based (SaaS) solutions for the travel and hospitality industry. According to the startup’s CEO and founder, Bhanu Chopra, the company is using machine learning and “next-generation technology" to help its clients, including online travel agencies, vacation providers, airlines etc. “to give real-time intelligence on competition, pricing, market trends, pulse of customers, and their reputation in the market".
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Sharjah City Will Soon Launch A Blockchain-Enabled Waste Permit Portal
Publication- Krypto Money
Edition- Online
Date- 18 February, 2019
The Sharjah city in the United Arab Emirates (UAE) will soon be employing a blockchain-enabled waste permit portal, as reported by the country’s official news agency, Emirates News Agency (WAM) on Feb. 17.
According to publishing, the blockchain-based waste permit portal will be developed by the joint effort of environmental, recycling and waste management company Bee’ah and the Hamriyah Free Zone Authority (HFZA), the city of Sharjah’s free trade zone. The platform will be the first in the city to use blockchain technology to validate, process and store transactions.
The report further states that the platform will cut costs that the customers bear while applying for permits within HFZA and also reduce the permit-issuing time from several days to only a few hours.
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