Reading Time: 2 minutes These mobile users were busy online-shopping, booking hotels and reading about celebrities. Original Link
From ‘the home of fakes’ to China’s ‘innovation capital.’ Tech official shares his take on Shenzhen’s Nanshan District. Original Link
“Do you want to stand in line for two hours [to] renew your driver’s license?” Original Link
It’s 2018 and the flip phone is back, but this time, the Royole FlexPai screen does all the folding. Original Link
AI meets mapping to predict crop yields, assess flood damage, and point skiers to the piste. Original Link
Blockchain might be a much better solution for storing and exchanging information, but it’s not perfect. Original Link
The security of global supply chains has recently been called into question. Original Link
Xiaomi’s wearable device partner sees itself as a sports and health big data firm Original Link
Instead of coins, tokens, and other crypto talk, we’re focusing on actual use cases, especially in China. Original Link
As TechCrunch Shenzhen 2018 is only a few days away, we are releasing the final list of main stage speakers. Original Link
Big data takes the main stage. Original Link
Here is the second batch of speakers we have lined up for TechCrunch Shenzhen 2018. Original Link
A version of this article first appeared on TechCrunch. We’re excited to announce our return to Shenzhen, which will host […] Original Link
Here is the first batch of speakers we have lined up for TechCrunch Shenzhen 2018. Original Link
This year, we will have two blockchain hackathons, in Hong Kong and Shenzhen. Original Link
On November 19-20, hundreds of entrepreneurs and investors will participate in VC Meetup. Original Link
Bring your startup to TechCrunch Shenzhen 2018’s Startup Alley! Original Link
Purchase your ticket for TechCrunch Shenzhen today! Original Link
The amount of financing on Chinese blockchain-related projects in January 2018 alone reached $100 million. Private industries, the central government, […] Original Link
Join us as we document Shenzhen’s “second reshaping.” Original Link
In the age of the internet, we can send data and information to anybody around the world almost instantly at little cost. But when it comes to payments, the process is usually expensive and time-consuming because the architecture today is an antiquated infrastructure built decades ago.
Ripple, a US-based payment network and currency exchange, wants to solve this problem by utilizing the power of blockchain. On TechCrunch Hangzhou Blockchain Side Stage, Emi Yoshikawa, Director of Joint Venture Partnerships at Ripple, spoke about how Ripple is using blockchain technology to improve the fragmented infrastructure of payments today.
The idea behind Ripple’s Interledger Protocol is that anyone should be able to send money to anywhere in the world instantly at little or no cost and without the need for payer and payee to set up accounts on the same global payment service. The Interledger project aims to ease the friction of global payments by connecting banks and financial services into a single network. For banks and payment providers, Ripple is utilizing XRP, a highly-scalable digital asset that is used on the Ripple network, to reduce costs and improve efficiency for high-volume transfers.
When asked about whether Ripple is seen as a threat to existing banks and financial services, Yoshikawa said their technology is not just about reducing cost, but also about creating new opportunities that was not possible before—creating new types of business, providing greater access to financial services, etc.
“People tend to think that blockchain is a threat to existing financial services, but it’s not always the case,” Yoshikawa said. On the contrary: “We are providing solutions to help banks become better, so they can provide better services to their customers.”
In fact, Ripple is partnering with banks and financial services all around the world. While some do see blockchain technology chipping away traditional banking services’ source of revenue, however, Yoshikawa said, some innovative banks look at this as a way to create a new opportunities. Santander Bank, for example, has chosen to work with Ripple because “they were facing a lot of competition from fintech companies, like TransferWise and Paypal, and their market share in cross-border payment was quickly diminishing.” Realizing that sticking with the existing old technology is no longer an affordable option, Santander is focused on creating new opportunities.
Yoshikawa explains that ease of integration is part of why their services have been gaining traction in the financial industry. The integration process is easier than one would imagine because Ripple is not creating a new infrastructure, rather they are leveraging the existing infrastructure to enable ledgers and banks to talk to each other. For smaller banks, the integration process takes roughly three months. Also, Ripple is not only a technology provider, but they are establishing common rules for banks to use the technology.
“Low-value high volume use cases including remittances is an area that we’re focused on,” Yoshikawa said. Remittance is an area where there is still a lot of friction.
Yoshikawa believes that Asia is a critical market for Ripple. “Asia is the world’s center for remittance payments,” Yoshikawa said, “there is a lot of money going into Asia and flowing out of Asia as well.” In China’s case, their service can make far-reaching changes to the lives of migrant workers who rely on cross-border transfer services to send money back home. Other areas such as travel-based payments and e-commerce are also on the rise.
“Today’s cross-border industry is dominated by big western banks,” Yoshikawa said, smaller regional banks in Asia are increasingly seeing Ripple’s solution as a way to differentiate themselves and increase their competitiveness.
Vague, unimaginable, and thrilling. This is our future. With all the uncertainty and unpredictability that the world has to offer, TechCrunch has set out to define what it means to be human, through exploration of the relationship between man and machine.
It’s quite natural for people to talk about the beginning of a period in history with words like “emergence “ and “subversive.” Often times, however, it’s difficult to pinpoint at what particular time has one such phenomenon occurred. Is time and space—the past, present, and future—really linear? What does it mean to define the future?
Human beings have, for a long time, searched for ways to make sense of the world. TechCrunch aims to help people better understand the role that technology has played in shaping our past and our present, so that maybe we can predict how it will shape our future.
The internet, once doubted by even the industry’s smartest leaders, has become essential to our lives. Now, people are talking about how blockchain technology can transform the internet and improve—or destroy—our lives.
Improving healthcare is a timeless effort. Currently, people are looking for ways to apply blockchain technology to optimize health and medicine. LifeCODE.ai, built by TechCrunch Hangzhou after party sponsor WuXi NextCODE, is a blockchain-based data platform that integrates data search, intelligent transaction, distributed accounting, and cloud computing. It aggregates and mines scattered health data, maximizing efficiency in medical record keeping. LifeCODE.ai uses globally recognized data encryption technology combined with blockchain technology to solve privacy and security issues in data storage.
In the first half of the after party, John Gu, Chief Digital Officer of WuXi NextCODE, will introduce the company’s background, its vision for the future, and the overall structure of its blockchain medical database. Duan Tao, former warden of Shanghai First Maternity and Infant Hospital and Founder of Chuntian Medical, and Chen Gang, Microgene Co-founder and CTO, will then discuss how blockchain data banking can be applied and developed in clinical medicine and genetic health.
The rest of the night will be open for mingling!
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