DiGiSPICE
Competitors
Ericsson mulling clauses to avoid repeat of RCom
Publication- Orissa Post
Edition- Online
Date- 31 May, 2019
Swedish telecom gear maker Ericsson is considering tweaking provisions in business deals to avoid situations like those it is facing with Reliance Communications. The company sued RCom and its promoter Anil Ambani to recover dues of about Rs 1,500 crore, of which it managed to receive only Rs 550 crore. “We think fairness sort of came true in the end. But of course, as we sell new deals…we try to avoid those things. But it is hard to tell because who could have seen that coming. That was a tough period,” Peter Laurin, senior vice president and head of business area managed services at Ericsson told PTI.
He was responding to a question whether the company is planning to bring any change in business provisions following the RCom issue. Ericsson signed managed services contract with RCom after Chinese telecom gear maker Huawei stopped services to the debt-ridden telecom operator because of payment issues. However, experts feel that Ericsson may have to deposit the amount back in trust and retentionship account.
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Paytm’s Payment Gateway Dominates Online Payments with Over 50 Percent Share
Publication- Inventiva
Edition- Online
Date- 31 May, 2019
Paytm, the brand owned by One97 Communications, India’s largest digital payments company today announced that it is the undisputed leader in the Payment Gateway the industry with over 50 percent market share. Paytm PG is significantly ahead of the competition with largest volume and the largest merchant base. Paytm PG processes over 400 Mn transactions each month for merchants which is 5x higher than the next biggest player.
Paytm is the preferred payment gateway for several leading online platforms such as IRCTC, Zomato, Oyo, Grofers, Big Basket, PVR, Club Factory, Dominos, JIO and Idea among others, with majority share of its transactions. The company has witnessed over 3X growth in the number of transactions over the last one year with Paytm PG emerging as the leading payment gateway for the third-party apps and websites.
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Exclusive: Top exits begin at Paytm and Paytm Mall; COOs Kiran Vasireddy and Amit Sinha are quitting
Publication- ENTrackr
Edition- Online
Date- 31 May, 2019
Many employees have left Paytm Mall as the firm has been downscaling and shifting focus from consumer-facing business. Yet, a top-level churn never came on the screens. This picture is changing now. Former Paytm Mall Chief Operating Officer (COO) Amit Sinha and current COO of Paytm Kiran Vasireddy are leaving the company after long stints, said three sources aware of the development.
“Someone has to take accountability of poor performance and recent shenanigans at Paytm Mall. Since Sinha led Paytm Mall till February this year, his accountability quotient stands high,” said three sources inside and outside Paytm Mall. Sources requested anonymity as they aren’t authorised to speak to the media.
While the firm hadn’t asked him to leave directly, his compensation and perks have been cut down. “Leaving Paytm Mall is his own call,” emphasised sources. Sinha has been an old and trusted lieutenant of Vijay Shekhar Sharma (One97’s Founder and CEO).
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Reliance Communication's 'lesson' for Ericsson
Publication- Gadgets Now
Edition- Online
Date- 31 May, 2019
Swedish telecom gear maker Ericsson is considering tweaking provisions in business deals to avoid situations like those it is facing with Reliance Communications. The company sued RCom and its promoter Anil Ambani to recover dues of about Rs 1,500 crore, of which it managed to receive only Rs 550 crore. "We think fairness sort of came true in the end. But of course, as we sell new deals...we try to avoid those things. But it is hard to tell because who could have seen that coming. That was a tough period," Peter Laurin, senior vice president and head of business area managed services at Ericsson told .
The National Company Law Appellate Tribunal (NCLAT) on April 30 allowed insolvency proceedings against RCom after the Anil Ambani-led firm withdrew a challenge to such a move. "The immediate fallout of IBC proceedings would be that the payment of Rs 550 crore made by RCom to Ericsson would be questioned by the financial creditors. "Under IBC (Insolvency and Bankruptcy Code), no payment can be made to any creditor, much less an operational creditor during CIRP (Corporate Insolvency Resolution Process)," Punit Dutt Tyagi, Partner, Lakshmikumaran & Sridharan said.
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Industry News
Maersk adds two major shipping companies in its blockchain platform
Publication- ET CIO
Edition- Online
Date- 31 May, 2019
Mediterranean Shipping Co (MSC) and CMA CGM, two of the world’s biggest container shipping groups, are to join market leader Maersk in a blockchain platform aimed at limiting a costly paper trail in the industry. With MSC and French-based CMA CGM, the second- and fourth-largest container shipping companies, joining the platform, nearly half of all cargo being shipped by sea - which accounts for 90% of traded goods worldwide - will be tracked using it.
More than 100 companies, ports or authorities, such as Procter & Gamble and U.S. Customs and Border Protection, have signed up for the platform led by Copenhagen-based Maersk, the world’s largest container shipping company. The participation of key players in the platform, launched last year in collaboration with IBM, is seen as crucial for cutting costs in an industry that has seen little innovation since the container was invented in the 1950s.
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Tata Communications pioneers an IoT ecosystem with first-of-its-kind IoT Marketplace in India
Publication- CIOL
Edition- Online
Date- 31 May, 2019
Tata Communications announced the launch of its Internet of Things (IoT) Marketplace – a first-of-its-kind initiative in India to strengthen and accelerate the country’s growing IoT ecosystem. The IoT Marketplace will bring together IoT practitioners and enterprise customers on a single platform; setting the ground for customers to tailor their IoT solutions and drive innovation within their business, while enabling vendors and partners on the platform to discover new market opportunities.
Frost & Sullivan finds that the Enterprise IoT market in India will grow at a CAGR of 35% through 2023, quadrupling the market by then. Despite a large number of solution providers and system integrators, Indian enterprises have not been able to fully leverage the opportunities presented by IoT. There is lack of standardisation, interoperability and connectivity in the IoT market, with a plethora of players, technologies and platforms competing for market share and mindshare. There is a need to bridge this gap and offer a single solution, which can help scale IoT adoption in India..
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Telangana Hastens Development Of Blockchain District, Attracts Startups With Incentives
Publication- Analytics India
Edition- Online
Date- 31 May, 2019
Telangana is at the forefront of emerging technology, and seems to want to maintain its position. After catching nationwide attention for the creation of a ‘blockchain district the state is wooing various companies and startups to set up shop in the state with incentives. The state is looking to cement its position as the ‘blockchain capital’ of India. The goal is to attract as many blockchain companies as possible and make the state a hub for DLT-related technologies in the country.
They recently published a draft blockchain policy that is aimed squarely at incentivizing the development of blockchain companies in the state. The government is also looking at creating a ‘Blockchain District’ within Hyderabad that will be a huge incubator for startups.
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Salesforce Launches its own Blockchain Platform Which can be Used by Non-Coders
Publication- Indian Web2
Edition- Online
Date- 31 May, 2019
US-based Customer relationship management (CRM) software firm Salesforce has announced the launch of its own blockchain platform, which it describes as a low-code platform for Non-Coders that will enable organisations to share verified, distributed data sets across a trusted network. Named Salesforce Blockchain, the new blockchain channel is built on Hyperledger Sawtooth, an open source modular platform for designing, deploying, and running distributed ledgers.
The blockchain platform is also a ‘low-code’ platform connected to CRM so that organizations can securely collaborate and share data across third parties. A low-code development platform is a software that provides an environment for not-so-expert programmers or Non-Coders to create application software through graphical user interfaces (drag-and-drop application) and configuration instead of traditional computer programming.
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Blockchain: A game changer for collateral management
Publication- Money Control
Edition- Online
Date- 31 May, 2019
Blockchain continues to create a lot of buzz within financial services (FS), for its ability to provide robust and secure solutions that minimize risk exposures. With the emergence of several blockchain infrastructure providers, the perceived potential for the application of distributed ledger technology (DLT) has been soaring. Collateral management is one such domain where trials for the application of blockchain have displayed promising results.
In global financial markets, an approximate value of a total value of US$12.2 trillion in securities (excluding cash) is currently being used as collateral for various purposes, including over-the-counter (OTC) derivative margins, secured funding, trading and settlement. With the potential to increase efficiency, improve regulatory control and eliminate unnecessary intermediaries, blockchain can introduce a fundamentally different approach to data management and validation in the domain of collateral management.
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