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jerryking : blockchain   23

Global food supply chains are caught in a honey trap
December 22, 2019 | Financial Times | Wendell Steavenson YESTERDAY

Our willingness to pay more for premium is causing counterfeit products to proliferate
blockchain  counterfeits  food  fraud  honey  honeybees  regulators  supply_chains 
december 2019 by jerryking
Fidelity’s search for the technology of tomorrow
October 20, 2109 | Financial Times | by Robin Wigglesworth in Boston.

Buffeted by falling fees and rising costs, the asset manager is investing heavily in an effort to remain competitive...
Bolstered by 2.8 tn invested in their  mutual funds, Fidelity administers another $7.7tn on behalf of various clients, making it one of the biggest, broadest and most powerful financial groups in the world. ....The investment industry has come under intense pressure in recent years, buffeted by falling fees and rising costs.......Abigail Johnson is trying to reforge Fidelity for a new era, where technology permeates and reshapes every aspect of the company’s disparate businesses.......“Across all financial services, the trend is towards fee compression....Fidelity is dabbling in cryptocurrencies...  Ms Johnson is now spending about $3bn a year on tech to modernise every business line, from trading to retirement planning. “Financial services is becoming another winner-takes-all industry, so you need to spend a lot of money on tech to get the advantages of scale and play both offence and defence,”.... the question is whether an organisation as big, established and complex — and with a culture as ingrained as Fidelity’s — can evolve quickly enough to navigate the industry’s ferocious headwinds.......Fidelity is exploring whether virtual reality can make it more palatable to consumers via the Fidelity Center for Applied Technology. .....The technology centre is also where Fidelity’s initial bitcoin experiments took place, which last year evolved into a standalone company, Fidelity Digital Asset Services.....Ms Johnson has embraced the index funds once mocked by her father. Fidelity now has about $530bn in passive funds, making it one of the biggest providers.......Fidelity last year promoted Steve Neff, its chief technology officer, to lead its $2.8tn asset management division....... A lot of asset managers are spending a lot of money on computer scientists, and they don’t end up being used.” Upgrading Fidelity’s core tech infrastructure — which was largely developed in the 1980s — is time-consuming and expensive......Fidelity is using artificial intelligence to write more neutral job ads shorn of subconscious biases, to test the outcomes, and to better target job sites that might have more prospective hires from minorities.
Abigail_Johnson  artificial_intelligence  asset_management  blockchain  CEOs  Fidelity_Investments  financial_services  investment_management  legacy_tech  money_management  organizational_culture  the_great_game  virtual_reality  winner-take-all 
october 2019 by jerryking
How Financial Products Drive Today’s Art World
July 20, 2018 | The New York Times | By Scott Reyburn.

How does one invest in art without going through the complications of buying and owning an actual artwork?

That is the question behind financial products for investors attracted by soaring art prices but intimidated by the complexity and opacity of the market..... entrepreneurs are trying to iron out the archaic inefficiencies of the art world with new types of financial products, particularly the secure ledgers of blockchain...... “More transparency equals more trust, more trust equals more transactions, more transactions equals stronger markets,” Anne Bracegirdle, a specialist in the photographs department at Christie’s, said on Tuesday at the auction house’s first Art & Tech Summit, dedicated to exploring blockchain......blockchain’s decentralized record-keeping could create a “more welcoming art ecosystem” in which collectors and professionals routinely verify the authenticity, provenance and ownership of artworks on an industrywide registry securely situated in the cloud...... blockchain has already proved to be a game-changer in one important area of growth, according to those at the Christie’s event: art in digital forms.

“Digital art is a computer file that can be reproduced and redistributed infinitely. Where’s the resale value?”.....For other art and technology experts, “tokenization” — using the value of an artwork to underpin tradable digital tokens — is the way forward. “Blockchain represents a huge opportunity for the size of the market,” said Niccolò Filippo Veneri Savoia, founder of Look Lateral, a start-up looking to generate cryptocurrency trading in fractions of artworks.

“I see more transactions,” added Mr. Savoia, who pointed out that tokens representing a percentage of an artwork could be sold several times a year. “The crypto world will bring huge liquidity.”......the challenge for tokenization ventures such as Look Lateral is finding works of art of sufficient quality to hold their value after being exposed to fractional trading. The art market puts a premium on “blue chip” works that have not been overtraded, and these tend to be bought by wealthy individuals, not by fintech start-ups.....UTA Brant Fine Art Fund, devised by the seasoned New York collector Peter Brant and the United Talent Agency in Los Angeles.

The fund aims to invest $250 million in “best-in-class” postwar and contemporary works,...Noah Horowitz, in his 2011 primer, “Art of the Deal: Contemporary Art in a Global Financial Market,”.... funds, tokenization and even digital art are all investments that don’t give investors anything to hang on their walls.

“We should never forget that in the center of it all is artists,”
art  artists  art_advisory  art_authentication  art_finance  auctions  authenticity  best_of  blockchain  blue-chips  books  Christie's  collectors  conferences  contemporary_art  digital_artifacts  end_of_ownership  fin-tech  investing  investors  opacity  post-WWII  provenance  record-keeping  scarcity  tokenization  collectibles  replication  alternative_investments  crypto-currencies  digital_currencies  currencies  virtual_currencies  metacurrencies  art_market  fractional_ownership  primers  game_changers 
july 2018 by jerryking
JetBlue Tech Execs Tap Startups To Help Airline Innovate - CIO Journal. - WSJ
As digital technology transforms business, enterprises can be at a disadvantage relative to newcomers. One solution is to work with startups, but that can be tricky because of security, regulatory and policy requirements at large companies. CIO Journal spoke to the top technology executives at JetBlue Airways about how they make the relationship work through a corporate venture arm, JetBlue Technology Ventures.

The Silicon Valley-based venture group looks for technology that could add business value within 18 months, as well as that which may have longer, 5- to 10-year payoffs. It has made early and mid-stage investments in 18 startups since 2016.

“Being part of the Silicon Valley innovation ecosystem is very important for us,” Eash Sundaram, JetBlue’s chief digital and technology officer, tells CIO Journal.
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Ms. Simi said JetBlue may have never come across the startups in the venture arm’s portfolio if they had simply made a request for proposals for a specific technology project. Instead, the dedicated venture team vets startups, makes strategic investments and works alongside them to match technologies to JetBlue’s current and future needs.

“It’s been hugely helpful at JetBlue in terms of keeping our thinking fresh and innovative,”
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JetBlue  brands  large_companies  airline_industry  innovation  start_ups  CIOs  machine_learning  blockchain 
july 2018 by jerryking
Tech Thinks It Has a Fix for the Problems It Created: Blockchain
March 30, 2018 | The New York Times | By DREW JORDAN and SARAH STEIN KERR

Blockchain allows information to be stored and exchanged by a network of computers without any central authority. In theory, this egalitarian arrangement also makes it harder for data to be altered or hacked.....“Everything is moving toward people saying, ‘I want all the benefits of the internet, but I want to protect my privacy and my security,’” he said. “The only thing I know that can reconcile those things is the blockchain.”.....Blockchains assemble data into so-called blocks that are chained together using complicated math. Since each block is built off the last one and includes information like time stamps, any attempt to go back and alter existing data would be highly complicated. In the original Bitcoin blockchain, the data in the blocks is information about Bitcoin wallets and transactions. The blocks of data in the Bitcoin blockchain — and most of its imitators — are kept by a peer-to-peer computer network.

The novel structure allows people to set up online accounts that can securely hold valuable personal information without having to trust a single entity that can hoard, abuse or lose control of the data, as happened with Facebook and the consumer credit reporting agency Equifax....start-ups are using the blockchain in an attempt to pry control of all that data out of the hands of giants like Facebook, Youtube, etc.. ........Tim Berners-Lee has warned that the development of the blockchain could come with unintended consequences, like more activity from criminals operating outside the oversight of governments...... most blockchain projects are still plagued by concerns about privacy. For example, the widely used Bitcoin blockchain allows certain data — details of the transactions between users — to be seen by anyone, even if other data — the users’ identities — remains obscured.....Blockchain-based accounts also rely on users keeping their own passwords or private keys, which people are famously bad at doing......Michael Casey, a co-author of “The Truth Machine,” a new book on the blockchain.
blockchain  bitcoin  howto  crypto-currencies  books  digital_currencies  currencies  virtual_currencies  metacurrencies  Tim_Berners-Lee  unintended_consequences 
april 2018 by jerryking
Central Banks Consider Bitcoin’s Technology, if Not Bitcoin - The New York Times
By NATHANIEL POPPEROCT. 11, 2016
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central_banks  blockchain  Bitcoin 
october 2016 by jerryking
What you need to know about blockchain technology | Toronto Star
By thestar.com
Fri., May 6, 2016

This Internet of Everything Needs a Ledger of Everything, powered by blockchain.
blockchain  Industrial_Internet  transaction_costs 
may 2016 by jerryking

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