A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Blockchain was developed alongside the digital cryptocurrency bitcoin. It works like a huge, decentralized ledger which records every transaction and stores this information on a global network to prevent tampering. Bitcoin, itself, is a virtual currency that allows users to exchange online credits for goods and service
But several organizations have looked into alternative applications for the blockchain, away from the digital currency. Bank of America Merrill Lynch and HSBC published a proof of concept last week showing how blockchain could be used to efficiently complete a trade deal.
"Over $2 trillion of trade today depends on the physical exchange of documents," Vivek Ramachandran, global head of product and propositions for global trade and receivables finance at HSBC, told CNBC Tuesday.
"What we've shown is blockchain has the potential to take away paper, which could be completely revolutionary if commercialised."
According to Ramachandran, blockchain technology could serve as a trustworthy intermediary to share information between buyers and sellers. This would make international trading quicker and cheaper.
"(Blockchain) makes the system much more efficient," he explained. "It's expensive to adopt it, but the upside is huge."
Companies are making a big bet on blockchain technology. A study by Juniper Research published this week found that $290 million of venture capital has been invested in blockchain tech in the first half of 2016, with more than 30 blockchain start-ups receiving funding.
However, the report urges investors and businesses to be cautious in regards to blockchain.
"While blockchain technology offers the potential for increased speed, transparency and security across an array of verticals, there has to be rigorous and robust roadtesting in each unique use case before any decision is taken," research author Windsor Holden said in a press release on Tuesday.
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