2 Executives Are Leaving Blockchain Startup R3 in Management Shake-Up

Distributed ledger technology provider R3 has carried out an extensive internal reorganization, resulting in the departure of two members of its management committee, CoinDesk has learned. Brian McNulty, a managing director and head of global services, and Lauren Carroll, chief administrative officer, are leaving the company, R3 told employees at town hall meetings Friday, according to people familiar with the situation. An R3 spokesperson confirmed the internal reorganization, which he said will include an expansive hiring program for 2019, but declined to comment on individual staff departures. Neither McNulty nor Carroll…

IBM, Aetna, PNC Explore Medical Data Blockchain for 100 Million Health Plans

IBM is collaborating with a group of major players in the healthcare space to improve the way sensitive data is shared and make health claims and transactions more efficient – all in the form of a “blockchain-based ecosystem.” Announced today, Big Blue is joined in this effort by Aetna (acquired last November by pharmacy and health plan provider CVS Health), health plan provider Anthem, Health Care Service Corporation (the largest customer-owned health insurance provider in the U.S.) and PNC Bank. These providers combined account for close to 100 million healthcare…

Nasdaq Leads $20 Million Funding Round for Blockchain Startup Symbiont

Enterprise blockchain startup Symbiont has closed a $20 million Series-B funding round led by Nasdaq Ventures with participation from Galaxy Digital, Citi, Raptor Group and others. The firm, which has kept a fairly low profile the last two years as the cryptocurrency market’s gyrations overshadowed the enterprise sector, previously raised a combined $15.4 million from a seed round in 2014 and Series A in 2017. Symbiont CEO Mark Smith told CoinDesk that the firm doubled its staff last year, and now has more than 60 employees. “We have been very…

Wanchain Joins Telefónica, One of the World’s Largest Telephone Operators, Developing a Mobile Blockchain Future

Blockchain Phone. Image from Shutterstock. Wanchain Symbol Eleven Paths, a subsidiary of Telefónica, has tapped Wanchain in an effort to build a secure blockchain platform for the mobile generation. Rivetz is a security company which works extensively in the blockchain space and also plays an important role in the new effort. Wanchain is an Ethereum fork which specializes in cross-chain compatibility. With Wanchain, users can hold both Bitcoin and Ethereum. In an exclusive talk with Wanchain’s Dan Reecer, CCN learned that its interchain operability is what sets Wanchain apart in…

Ford, IBM, LG Partner to Track Your Smartphone & Car Batteries on a Blockchain

Car charger image from Shutterstock South Korean battery maker LG Chem, tech giant IBM, auto manufacturer Ford Motor and others have partnered in a blockchain project aimed at infusing transparency in the global mineral supply chain, impacting batteries used in smartphones and electric vehiceles. Specifically, the project will track cobalt mined in the Democratic Republic Congo. Cobalt is used in lithium-ion batteries and its demand and price has skyrocketed with the growth of electric vehicle and mobile device sectors. It is estimated that DR Congo produces around two-thirds of the…

Why Ford Believes Blockchain Can Help Fight Child Labor

Ford has partnered with IBM to use blockchain to fight child labor in the cobalt mining industry. | Source: Shutterstock Automotive giant Ford has entered a partnership with IBM, Huayou Cobalt, and LG Chem to build a blockchain platform to monitor the supply of cobalt from the Democratic Republic of Congo as part of an attempt to ensure that child labor does not make up any part of its supply chain. Ford & IBM Partner to Monitor Cobalt Mines Announced on Wednesday, the project, which will be managed by the…

HSBC Completed $250 Billion in Blockchain-Processed Transactions in 2018

HSBC. Image Shutterstock. According to a press release quoted by the Financial Times on Monday, HSBC, one of the largest banking institutions in the world by total assets, reported $250 billion in settled transactions in 2018, using the blockchain technology. The press release revealed that during the last calendar year, HSBC settled over 3 million blockchain-based foreign exchange transactions. Performed through its blockchain platform, “FX Everywhere,” the bank says it has processed 150,000 payments since the platform launched in February 2018. HSBC completed its first blockchain trade finance transaction in May…

Rising Blockchain Dev Salary May Not Mean Increasing Crypto Activity

Rising blockchain developer salaries doesn’t necessarily mean crypto is on the upswing. | Source: Shutterstock Despite the 80 percent correction in the crypto market, blockchain developers are making $130,000 to $180,000 a year. But, the rising salaries of blockchain developers do not necessarily translate to an increase in developer activity in the crypto sector. Too Many Variables in Crypto Over the past two years, especially at the height of the bull market in late 2017, the crypto industry saw an inflow of talent from the technology and financial space. Some,…

India’s Biggest Conglomerates Explore Blockchain for B2B Payments

Despite a plethora of sometimes unclear regulations and restrictions, large businesses and banks in India are still embracing cryptocurrency — or at least some of the technology that underpins it — as a more reliable way to reconcile accounts, make payments, keep proper records, and manage internal funds. According to a report in the India Times, a number of Indian corporations are currently trialing blockchain technology as a means of record keeping. Top Firms in India Eye Blockchain for Payments Despite the traditionally hostile stance of the Reserve Bank of India on cryptocurrency…

What Crypto Winter? Blockchain Developers are Still Making a Killing

Blockchain developers are now earning more than they were six months ago, according to a survey-based report by Computer World. In the course of the last six months, the annual pay for blockchain developers in the highest bracket increased by over US$4,000, as per the survey which was conducted by management consulting firm Janco Associates. The median annual pay for blockchain developers is also considerably higher than that of other software developers at US$132,000. Experienced developers earn even more – US$176,000 – especially when they change employers. Top of the…