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Blockchain

OneConnect wins 2020 IDC Digital Trust Award for innovative Financial Cloud

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OneConnect Financial Technology Co., Ltd. (“OneConnect” or the “Company”) (NYSE: OCFT) has been recognized for its innovative OneConnect Financial Cloud with the Real Results Digital Trust Award from International Data Corporation (IDC), the premier global provider of market intelligence, advisory services, and events. The company was the only Chinese company to win the award this year, which goes to information technology providers who have enabled a significant change at a client financial institution.

OneConnect also ranked 66 in IDC’s FinTech Rankings Top 100 list. The IDC FinTech Rankings are based on calendar year revenues from financial institutions for hardware, software, and/or services.

“The inclusion in the Top 100 list is a testament to OneConnect’s superior position in the global fintech services industry, supported by our cutting-edge technological capabilities in the financial industry such as artificial intelligence, big data, blockchain and financial cloud,” said Ye Wangchun, Chairman and CEO of OneConnect.

OneConnect, an associate of Ping An Group, is a world-leading technology service platform for financial institutions in China. It provides comprehensive end-to-end solutions for banks, insurers, and investment managers by integrating extensive financial services experience with market-leading technology.

The Company enables customers to manage risks, enhance service quality, improve efficiency, increase revenue and reduce costs in their digital transformations. As of June 30, 2020, the Company served over 50 international customers in over 15 markets.

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OneConnect has strong cloud computing capabilities with the leading financial cloud platform in China, covering banking, insurance, securities, investment and other financial industry systems. OneConnect Financial Cloud is managing nearly 300,000 hosts, 40,000 databases, and hundreds of thousands of applications.

OneConnect’s advantages in cloud-based financial services and the deployment of core Internet technologies, such as drainage applications, help banks expand their Internet business quickly.

With OneConnect’s online loan system and Eagle Eye risk control system on the cloud, it helps banks significantly reduce risks. Compared with a client financial institution’s self-built cloud technology, OneConnect can shorten the lead time of cloud-based project from 30 days to 10 days, and reduce cloud-based project costs by more than 48%.

OneConnect plans to continue expanding its footprint in the fintech sector, helping banks and financial institutions worldwide transform their businesses by using its advanced technologies and services.

SOURCE OneConnect

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Blockchain

Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)

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Building Customer Trust in AI with Blockchain

Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.

Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.

Source: Harvard Business Review

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Blockchain at a Crossroads: Balancing Promise and Peril

As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.

The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.

Source: Cointelegraph


BRICS vs. USD: Blockchain’s Role in Economic Shifts

The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.

This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.

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Source: CoinGeek


Hungri Games Expands MetaHorse Unity to Base Blockchain

Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.

By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.

Source: CoinTrust


Nano Labs Purchases Trump Tokens to Celebrate Presidency

Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.

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The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.

Source: PRNewswire


Final Thoughts: Blockchain’s Expanding Horizons

This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.

While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.

 

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CoreNest Capital Announces Strategic Investments in SpaceX, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, and Study Dojo

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OpenAI, xAI, SpaceX, Weave Robotics, Blaze Payments, Domu AI, Phonely AI, Andromeda Surgical, Texture Capital, Artisan AI, Piramidal,Avatar Medical, OpenCall, Fleak AI, Algorized, itsElectric, Dili, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, Study Dojo, Sologenic, Coreum, Pulsara

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The World Market for RegTech 2025-2030: Growth Trends, Industry Chain Analysis, Regional Insights, SWOT Analysis and Market Shares of Leading Players – Thomson Reuters, Deloitte, PwC, Accenture, IBM & More

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