Blockchain technology, a type of database system that enables multiple parties to share access to the same data with a high level of confidence and security, could reduce infrastructure costs for eight of the world’s 10 largest investment banks by an average of 30 percent according to a new report by Accenture and McLagan which is part of Aon Hewitt, a business unit of Aon plc. This translates to roughly $8 billion to $12 billion in annual cost savings for those banks.
IBM Watson Health and the FDA announced on Wednesday that they would work together on an initiative to create a secure, efficient and scalable exchange of health data using blockchain technology.
The technology giant and the federal agency will explore the exchange of data from sources, such as EMRs, clinical trials, genomics and health information from mobile devices, wearables and the Internet of Things.
With an initial focus on oncology-related data, IBM and FDA said they intend to share initial research findings in 2017 under the two-year agreement.
Blockchain, smart contracts, and predictive analytics are among the financial service technologies reshaping the ways transactions are conducted and customers are served. With a rash of startups threatening to disrupt legacy operations, organizations of all sizes are turning to the latest technologies to improve their offeri
The Department of Homeland Security has stepped up its research and investment into blockchain technologies, as it searches for ways to make the government more secure, accountable, and autonomous. Public interest in the blockchain from the DHS started in December last year, when it called for small business proposals to research the advantages and disadvantages of the emerging technology. Six months later, it awarded the $200,000 grant to Factom.
A well-known former JPMorgan Chase executive, Blythe Masters, has raised $52 million from several big banks for a start-up built on the technology underlying the Bitcoin virtual currency.
The start-up Digital Asset Holdings, based in New York, said on Thursday afternoon that it had raised the money from 13 financial institutions, including Ms. Masters’s former employer, JPMorgan, as well as Citi, BNP Paribas and Santander.
Now that Ethereum Frontier has launched, the only thing between us and cyber-utopia is an app. Not just any app–but a P2P blockchain app that makes normal people lots of money. And before that, we need an anti-hero willing to do the work of building the prototype for this world-changing app without getting paid.