Blockchain Weekly – February 7th, 2020

Blockchain Weekly features short summaries of the five biggest headlines from the world of blockchain.

Welcome to the third Blockchain Weekly update from Blockdata. In case you missed last week’s post, you can find it on the blog. We also published a list of the 10 biggest funding rounds in the blockchain world from January.

Billion dollar food safety firm Neogen partners with Ripe for blockchain traceability system [Ledger Insights]

Neogen, a publicly-traded company founded in 1982, is using Ripe’s blockchain solution to trace information around food safety and genomics. San Francisco-based Ripe is founded by a former managing director for product at R3, and makes use of R3’s Corda platform for its traceability solution.

Citi and Goldman Sachs execute the first ever blockchain equity swap on Axoni blockchain [Forbes]

According to a press release on February 6th, 2020, Axoni’s digital ledger software AxCore was used to perform an equity swap between banking giants Citi and Goldman Sachs. There are now 15 leading buy- and sell-side firms in the equity swaps market live on the platform, which automates the post-trade reconciliation process.

komgo acquires fellow trade finance platform TRAFEC [Ledger Insights]

Commodity trade finance platform komgo has announced its acquisition of TRAFEC, which “provides an authenticated, electronic channel of communication between commodity traders and their banks.” TRAFEC, which stands for Trade Finance Exchange Console, shared a number of partner banks with komgo, including ABN Amro, ING, BNP Paribas, Crédit Agricole, Société Générale, and Natixis. The network now includes over 100 corporations.

Paystand raises $20 million to expand its zero-fee blockchain payments service [Finextra]

B2B payments startup Paystand has raised a $20 million Series B round. As opposed to the typical transaction fee-based business model, Paystand works on a subscription service. The American firm claims that their Payments-as-a-Service platform can save merchants up to 50% on the cost of accepting payments and processing invoices.

Australia releases its national blockchain roadmap [Sydney Morning Herald]

One year after it was first announced, Australia has released its five year blockchain roadmap. Minister for Industry, Science, and Technology Karen Andrews said that “what’s really exciting is the potential for blockchain to strengthen export opportunities, helping Aussie producers and manufacturers track their goods, which are in demand around the world because of our clean, green reputation.” The Australian government cites research from Gartner that up to $175 billion USD in business value will be created by 2025, and $3 trillion by 2030.

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