Mazars, the international audit and advisory firm, today announces the release of its new report “Are you missing the Tech Train? Global investment and implementation surrounding transformative technologies”. More than 600 C-suite executives based in six countries (China, France, Germany, India, UK and US) and working in different industries, sectors, and organisation sizes share insight on these game-changing technologies, their investment appetites, the barriers they face to technological implementation – and how to overcome them.
CHINA AND INDIA LEAD, FRANCE AND UK LAG
Familiarity: Leaders in China are the most familiar with these five key technologies (79%), followed by Germany (71%), India (69%), US (64%). France and the UK come bottom (53%, 44%.) AI is the technology most respondents feel familiar with.
Investment: Respondents in India have the greatest appetite for increasing the budgets they dedicate to these five technologies. France and UK respondents are most reluctant to increase their budgets (see Exhibit 2.)
Implementation: China and India are the most likely to have implemented at least one of the technologies and share the highest adoption rates for all five technologies. France and UK are the least likely to have implemented any of the technologies.
Insurance and manufacturing are the top sectors where the five technologies have already been implemented. Leaders in the public sector were least likely to have implemented any of the five – 50% of respondents working in the public sector said ‘nothing is happening’ with the five technologies.
Benefits and barriers
Cost savings (27%), business model transformation (26%) and improvements in quality (24%) are the top three expected benefits of the five technologies.
The most cited barriers globally to implementing technologies are: obtaining necessary financial resources (25%), finding talent and skills that can fully grasp and exploit the technology (23%) and market maturity (22%) – whether it’s the right time for an organisation to adopt the technology or not.
Guillaume Devaux, Partner, Head of Technology Sector at Mazars, comments: “Our findings show strong forward momentum in regard to these five game-changing technologies – with China and India leading the pack. Overall, familiarity levels are high, leaders see the impact these technologies can have, and they have plans to increase investment. But there are areas of concern and certain sectors and countries pale in comparison with others.”
Devaux adds, “Leaders who think they’re falling behind need to discover which technology will create significant competitive advantage for their organisation. They should remember that successful tech transformation journeys require broad backing – from a company’s leadership and the team at large. Leaders may set the vision – but they must work with others to realise it.”
SOURCE Mazars USA LLP
Paytah Supports Global Growth Strategy
Considered as one of the top payment service providers in Europe, Paytah
Payment Solutions (PAYTAH), which uses cutting edge financial technology applications, is also the first finance institution to offer IBAN (International Bank Account Numbers) running on blockchain.
A participant of the European Payment Council, this user-friendly and cost-effective banking service alternative is one of the first crypto-friendly payment service providers. Its services include instant transfers within Paytah accounts, Euro transfers to external accounts via SEPA, Euro deposits through SEPA, International wire and credit card transactions, private encrypted messaging between client/Paytah or client/client.
Designed to ensure payment safety, product quality and data integrity throughout the life cycle of a regulated product, the personalized IBANs and SEPA help facilitate the process of opening a business or individual account less the bureaucracy, thus, a much faster service. This brings Paytah at the forefront of financial innovation and continues to help in the growth of the company.
Paytah Founder and Chairman Marco Lavanna, who has successfully steered the company since late 2018, affirms that “Paytah provides true agility and responsiveness towards the market. We give first class customer experience while transactions are faster, more affordable, and highly safe. We are fully compliant with the European Payment Council, as we have proudly launched the Paytah Wallet, a wallet account application, meticulously developed to be seamless and user-friendly.”
Paytah is committed to finding solutions to challenges in the online finance sector as it expedites growth for companies and individuals.
SOURCE Paytah Payment Solutions
Riot Blockchain Outlines 2020 Strategic Priorities
Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”), one of the few Nasdaq listed public cryptocurrency mining companies in the United States, has announced updated strategic priorities for 2020, including a more targeted focus on bitcoin mining.
Since 2017, Riot has concentrated on developing its cryptocurrency mining operations and investing in blockchain-focused technologies. Historically, the Company has produced newly minted bitcoin (BTC), bitcoin cash (BCH), and litecoin (LTC). In line with the initial strategic objectives, Riot also invested in several companies and internal initiatives with the intent of building and supporting blockchain technologies. Going forward, Riot reinforces its confidence in bitcoin by focusing on bitcoin mining and pursuing opportunities more directly related to bitcoin mining.
Cryptocurrency Mining: Riot recently completed a full network upgrade at its Oklahoma City mining facility with the objective to increase operational efficiency and performance. As previously mentioned in a press release issued on February 11, 2020, Riot procured 4,000 S17 miners from Bitmain during December 2019. As of mid-February, the deployment of 4,000 S17s was completed at the Oklahoma City mining facility resulting an overall hashrate of 240 petahash per second (“Ph/s”), consuming approximately 12 megawatts of energy.
The Company plans to provide updates on monthly production levels, commencing with a report shortly after the February 2020 production totals are reconciled. Such production updates are anticipated to continue for at least three months.
Strategic Partnership: To assist the Company in evaluating its strategic growth opportunities, Riot has engaged XMS Capital Partners. Headquartered in Chicago, XMS is an independent global financial services firm with expertise in M&A and strategic advisory. XMS will help Riot navigate the dynamic bitcoin landscape and advise the Company on potential strategic transactions in bitcoin mining related operations. The Company does not have a defined timeline for any transaction and cannot provide any assurance whether or when a transaction will may be announced or consummated.
RiotX Exchange: In order to concentrate its focus on cryptocurrency mining, Riot has opted to sunset further development of Riot’s U.S.-based digital currency exchange, known as the RiotX Exchange (“RiotX”), originally initiated in early 2018. Riot considered a number of factors when evaluating the RiotX decision including, but not limited to, the evolving regulatory environment, cybersecurity risks, and the current competitive landscape facing U.S. based cryptocurrency exchanges. Riot is considering opportunities to divest the limited assets associated with the RiotX in the best interest of the Company and its stockholders.
SOURCE Riot Blockchain, Inc.
Centotrenta Servicing redefines credit securitization management with IBM Blockchain Platform
IBM (NYSE: IBM) and Centotrenta Servicing announce the HyperMast STS platform, an end to end credit securitization management platform based on IBM blockchain technology designed to address financial sector requirements for their clients including data quality, process security, flow traceability, and the reduction of processing time and paper-based processes.
Centotrenta Servicing S.p.A, an Italian financial services company, currently manages approximately 200 securitization transactions per year in Italy with a combined value of 15.6 billion euros. As a servicer, Centotrenta Servicing is responsible for servicing the portfolio, collecting the receivables, providing cash and payment services, and monitoring the compliance of the securitization transaction with applicable laws and the prospectus.
Starting February 2020, the HyperMast STS platform project enters a phase of industrialization, and additional network participants including paying agents, originators, servicers, intermediaries, credit institutions and investors, law firms and technology companies are encouraged to join.
The HyperMast STS platform aims to provide the financial market with a tool to connect the entire ecosystem, made up of originators, servicers, intermediaries, credit institutions and investors –and allow them to interact in the different phases of the securitization operation in a transparent, secure and traceable way.
Based on Distributed Ledger Technology (DLT), HyperMast STS offers real advantages for the stakeholders of the operations, providing them with a greater level of interaction between them, a greater sharing of processes and, greater confidence in the processes and degree of guarantee of the financial assets.
In addition to the technology partners IBM and Blockchain Reply, Reply Group companies specialized in innovative projects based on DLT technology, they are part of the ecosystem led by Centotrenta Servicing and including BNP Paribas Securities Services as account and paying agent bank, other banks, advisors and prestigious law firms.
The choice of the IBM Blockchain Platform was due to its robustness and reliability, and its capabilities when creating DLT permissioned environments, combining efficiency, operational versatility with a hybrid cloud model, and data privacy control.
The platform addresses the core processes in securitization operations such as forming and signing the initial contracts (block sale), and the contracts underlying the securities issuance activities (block issue), and the definition of a “smart contract”.
The prototype was completed in November 2019 and addressed several key issues, such as possible ways of interfacing with the Bank of Italy systems (Infostat, FE129), issues related to security and user profiling, data protection management and digital signature mechanisms that allow the various actors to sign the HyperMast STS platform regulations and perform onboarding according to their role.
Blockchain11 months ago
XWallet crosses 100,000 registered users
Blockchain8 months ago
How hard is it for businesses to comply with VAT/GST obligations around the world? In which countries is it optimized?
Latest News7 months ago
nCino Acquires Visible Equity to Drive Deeper Insights, Compliance and Advanced Analytics for the Financial Services Industry
Latest News10 months ago
Discovery 2019 to feature 5G networks, autonomous vehicles, robotics, ag-tech and many more leading-edge Ontario innovations
Latest News6 months ago
Xpeng Motors kicks off G3 2020 Edition EV delivery at Chengdu Motor Show
Latest News9 months ago
CEO-CMO Summit Vietnam 2019 will take place on May 31
Latest News6 months ago
Akamai Recognized as a Leader in the IDC MarketScape: Worldwide Commercial CDN 2019 Vendor Assessment
Latest News8 months ago
Mogo Finance Technology and Difference Capital Announce Completion of Business Combination and Formation of Mogo Inc.