IBM Invests $200 Million in IoT Blockchain, Partners With UnionPay
IBM announced a strategic partnership with China’s UnionPay Bank and a US$200 million investment in its Watson Internet of Things (IoT) headquarters to fund various Blockchain developments. The multi-million Dollar investment in the company’s IoT research and development institute is a part of a larger global US$3 billion project, established to introduce a wider range of use cases in the field of Blockchain technology. With the new capital, IBM’s Watson IoT business Global Head Harriet Green believes the company will be able to form relationships with Germany’s leading developers and....
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International Business Machines is working with a Chinese credit card company to to create a blockchain-based system for trading loyalty points. In a proof-of-concept revealed today, IBM and China UnionPay have developed a platform that allows customers to trade points earned through purchases and other incentivized behavior with one another. It's a concept that can be applied to the exchange of frequent flyer miles, mobile phone bills or gas cards. He Shuo, director of China UnionPay’s Electronic Payment Research Institute, described the demo in a statement as a “breakthrough” in the....
Bitcoin seems to be part of whatever these companies have planned well, which could boost cryptocurrency adoption in Japan over the coming months and years. People active in the world of Bitcoin and cryptocurrency will have heard of the Zaif exchange before, which has become a popular Bitcoin platform in Japan. Money Partners Group has invested in TechBureau, the parent company of Zaif, for the sum of JPY 49 million. It is not the first time the name Money Partners Group (TYO:8732) is used in combination with the Bitcoin industry. Just last month, the forex brokerage invested in Payward –....
Chinese residents who value their financial freedom need to consider obtaining Bitcoin. China’s capital controls are slowly getting out of hand as of late. A new move will see UnionPay bank card holders withdrawal limits cut in half. This is another move to fight the Macau gaming industry, which is often seen as a “safe’ way to avoid capital control. All of this will highlight the value and viability of Bitcoin even further. With multiple billions of yuan flowing out of the Chinese economy every year, stemming the tide is of the utmost importance. Doing so is not an easy feat by any means,....