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May 9, 2022
On the web
Google Cloud Assembles Web3 Team to Leverage Emerging Metaverse
“Google Cloud Platform is putting together a Web3 specialist team to take advantage of cryptocurrency and blockchain technology. The cloud computing services suite says its new Web3 team will focus on building services for developers running blockchain applications. In addition, the team will also provide blockchain services to enterprises and customers looking to leverage the technology. The new Google Cloud Web3 division, to be helmed by former Citigroup executive James Tromans, already has a descriptive agenda set out. This reportedly includes better management of blockchain nodes as well as software for exploring blockchain data in third-party applications. Back in January, Google already hinted at this specialist division with pre-existing and established partnerships with blockchain projects. The company believes that the emerging metaverse and all its trappings offer so many untapped opportunities to exploit.”
November 12, 2019
On the web
Alibaba’s Singles’ Day Sales Top $38 Billion
“The Chinese e-commerce giant said its platforms sold goods worth 268 billion yuan, or $38.4 billion today, easily exceeding last year’s record $30.7 billion haul . Electronics gadgets and fashion items were among the most sold goods in the 11th edition of the Singles’ Day annual event, company executives said in an interview.”
September 27, 2018
On the web
Tencent & Alibaba chase remittances in battle for Southeast Asia
“Both companies recently launched money-transfer services that allow Hong Kong-based workers from Indonesia and the Philippines to send money home cheaply and easily. The moves are a first step in going after a global remittance business that moves more than $600 billion around the world annually.”
Alibaba enters Banking Circle for shapely payments
“Anders la Cour, co-founder and CEO of Banking Circle, says: “Payment providers who join Banking Circle can offer ‘local’ cross-border payments, with low fees, good FX rates and fast transfer times. It’s a cohesive solution – there’s no differentiation between local and cross-border payments. All payments occur quickly, at low cost. Payments are simply payments.””
June 29, 2018
On the web
Alibaba Seeks To Eliminate Middlemen In Blockchain Payments Patent
“The patent application – “A System and Method That Adjusts Account Balance on a Blockchain” – was filed with the China State Intellectual Property Office in January of this year and was revealed on Friday. Aimed to tackle the broad concept of adjusting account balances over a blockchain, the company explained how the system could be used to facilitate cross-border transactions that specifically involve a third-party payment vendor. For instance, the document said that third-party payment services and their banking partners in different regions will all function as nodes to form the envisioned blockchain. Subsequently each node will maintain a ledger of user balances, reflecting accounts in third-party payment vendors’ mobile wallets.”
May 4, 2018
On the web
Alibaba beats forecasts with 61% growth and predicts more of the same for the next year
“The firm is taking an option to buy one-third of Ant Financial, which resulted terminated a long-standing revenue-sharing agreement that some analysts believe to be worth as much as one billion RMB ($160 million) per quarter.”
March 1, 2018
On the web
Baidu, Alibaba, Tencent to disrupt Facebook, Amazon, Netflix, Google in Asia
“China’s tech giants are investing heavily across the region, upending a long-held assumption their US rivals – Facebook and Amazon – would dominate the global digital economy. Armed with strong backing from the Chinese government and a huge, digital-savvy market at home, companies like Alibaba and Tencent are catching up with – and in some cases overtaking – their US rivals, according to Jonathan Woetzel, director of the McKinsey Global Institute.”
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