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China’s Ping An Insurance Firm Partner With Sanya City Authorities to Build DLT-Powered Smart City

Ping An Insurance Group, a highly reputed China-based insurance corporation has joined forces with the Sanya municipal government to develop a “smart city” that would be powered by blockchain technology, artificial intelligence (AI) and other new technologies,” according to a local news source, People’s Daily on November 14, 2018. Strategic Agreement Per sources close to the matter, in a bid...Read More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
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Blockchain and AI-Based ‘Smart City’ is Being Built by China’s Ping An Insurance Group and Sanya

According to news outlet, Coin Telegraph (, one of China’s largest insurance, banking and financial services provider, Ping An has signed an agreement with Sanya’s government in what seems like a future “Smart City” based on evolving technologies such as blockchain, artificial intelligence (AI), cloud-computing etc. The signed agreement seems to deal with not only the Smart City, but also collaboration in terms of financial investment in helping to further develop China’s municipal. The news outlet has reported based on another source, dubbed, People’s Daily, whom have since outlined the main aspects of the future city as being, “blockchain […] biometrics and other technologies.” Yet another source, Xinhua News seems to have found out the exact amount of funds Ping An will be contributing to the Sanya government, and it has since been revealed as being “30 billion yuan,” which will not only cover the expenses that will be incurred in the construction of the smart city along but also the necessary financial aid and insurance. In a previous Coin Journal report, dated October 15, 2018, hints of Ping An’s interest in technologies has been noted, in which the firm’s CFO and Chief Actuary, Jason Yao stated the following: “By leveraging five key technologies, namely AI, blockchain, cloud, big data and security, we will keep improving efficiency, lowering costs, optimizing user experience and strengthening risk control, to enhance competitiveness.” And, it was not until August 21, 2018, that the insurance group finally announced its involvement in the plans of building the smart city from the ground up. As per the team involved, Ping An wants to dedicate the next 30 years to the smart city industry, where they will, “actively invest in the construction of new smart cities and contribute to the development of people’s urban livelihood in China.”
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China’s Ping An Insurance Eyes Blockchain and AI FinTech Healthcare Innovation with $15 Billion Investment

Ping An Insurance Is set to Invest about $15B In Fintech, Blockchain, And Health tech The $15B (RMS 100 billion) will be invested by the Chinese holding multinational Ping An Insurance in several developments and research technologies. This includes segments like the AI and blockchains for the next ten years. Annually the company invests one percent of its incomes in Fintech and health tech R & D, with US $7 Billion spent over the past decade. The objective of this financial strategy is to solidify the firm’s role in the financial services space. Jessica Tan, the CEO, CIO and COO of Ping An Insurance group reiterated that the company’s steady focus is to maintain its global leadership role in the blockchain, cloud computing and AI cutting-edge technologies, move that is bearing fruits. According to Jessica, this will help drive advancements in the financial sector in the coming years in real estate services, auto services, healthcare, and smart city services He spoke this during the Group’s Investors Day on technology held on Wednesday in Hong Kong. There is a lot to anticipate from the company He stressed the achievements of Ping An Insurance during the Investor Day, which includes the most far-reaching commercial distributed ledger technology (DLT) on its network, globally. He said the future of blockchain is anchored on the innovations that run on a single connected system. Besides, he also argued that the company has an all-inclusive Zero-Knowledge Proof (ZKP) solution able to deliver less than 0,005 responses per second while the DLT can complete approximately 50,000 Transactions per second (TPS). The objective of the progress is to again establish a substantial leading role in DLT technologies. Ping An has a stable commercial blockchain platform with a capacity of 40,000 nodes spread across 200,000 corporates, 500 entities, and 200 banks. There are so many scenarios in which Ping An blockchain platform is an application in real-life instances. These include HK eTradeConnect, and China’s OneConnect supply chain finance platform. Ping An Insurance maintains a robust team within the group in finance and IT departments endowed with the expertise in the space. Improvements taking place Over the last decade, the company has changed its financial services for the better providing technologies that inspire and improve efficiency, and encourage innovations. Such a move has seen Ping An cut costs and boost its risk management. Tan says the company has deployed its technologies on a commercial scale within the group and its now exporting some to other market players for the application. Ping An played a significant role during the launch of the Hong Kong Monetary authority blockchain-driven trade finance platform. It was able to connect 21 banks like the giant HSBC and Standard Chartered helping restructure the $9Trillion global trade in the finance industry. While staying innovative in the ecosystem, it aims to engage customers with simple, relevant professional financial services that improve the lives and growth of the business. Ping An has four technology strategies; realizing robust business scenarios, large real-life data, capturing competitive talent and long-term sustainable investments. Having achieved a 182 million customer base by the end of September last year, its internet user base has also surpassed half a billion generating more than a third of the 33.4 million it's new customers acquired during the first nine months of 2018.
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Ping An Insurance’s “White Paper on Smart Cities” Promotes Blockchain and AI Use

“White Paper On Smart Cities” Promotes The Integration Of Blockchain, AI, and Other Data Technology For Largest Insurance Group in China On August 21nd, Pin An Insurance of China released an article that described their support for technologies that could help them to better serve their customers. The article, titled “White Paper on Smart Cities,” specifically discussed blockchain, artificial intelligence, big data, and cloud computing technology. The article was announced by People’s Daily on August 22nd. Ping An Insurance is presently one of the biggest insurance company groups that the world has ever seen, and they provide their customers with insurance, banking, and other financial services. In fact, their performance with customers has earned them a strong place in the world as the third-most valuable company for financial services, based on their performance since May 2018. In the report from People’s Daily, they found that the goal of this white paper and their new plan is to “help the government to create a new model of ‘city as a service’ governance,” as well as to “propose a comprehensive, systematic, highly-recognized methodology and solution, with ‘wisdom, [and intelligence]” as the main line of thinking. Upon reading the document from Ping An Insurance, it also says, “In promoting the development of “smart city”, Ping An puts forward the system of [intelligence] in the perspective of service and creativity and promotes it with practice. At present, Ping An has mastered a large number of core professional technologies and is more confident in this field. Ping An's five core technologies: biometrics, big data, artificial intelligence, blockchain and cloud platforms have reached the global leading level.” Right now, China is leading the world in innovative technology, and it continues to implement new opportunities for the community to move forward. Blockchain technology, artificial intelligence, and Internet of Things (IoT) are all major components of the “smart cities” that China is working to develop. Presently, the goal is to develop and institute at least 1,000 of them. The country has already established several of these cities, like Xiong’an. Xiong’an was classified as a special economic zone last year in a declaration from President Xi Jinping. To help the government further develop their blockchain solutions, ConsenSys signed a memorandum of understanding (MoU) with them as they create additional software.
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IOTA Introduces Permanode Tech For Long-Term Data-Storage

The IOTA Foundation is taking a major step towards ensuring permanency in the Tangle, announcing a “Permanode” technology called Chronicle. IOTA is designed as a protocol for the permissionless and frictionless exchange of value between machines and humans, with the Tangle acting as a distributed ledger. Using the new permanode technology, users will be able to securely store data, where it will be  “verifiable to third parties for free.”   While some data doesn’t need to be stored for years, decades, or lifetimes, certain sorts of data require greater permanence. “For example,” the IOTA blog explains, “financial data must be stored for 10 years in some cases, and identity data needs to be kept for the lifetime of the identity.”  The IOTA Foundation describes the new permanode technology as a “crucial building block” for enabling these types of use-cases. The Foundation describes Chronicle as the “official permanode solution,” enabling easy access to the Tangle’s entire history, which is stored indefinitely via the technology.  The system is described as a “distributed fault-tolerant permanode that scales out and up…”     source: IOTA Foundation   Chronicle has some unique and interesting use-cases for community members and businesses, such as offering “query as a service.” Node owners might find a new stream of revenue charging IOTA tokens to access Tangle data. Further services could be added through “Multiplex networks,” offering “microservices… that can communicate with public and private dataset(s) under different policies.”  Chronicle is due for a third-party audit to ensure it is ‘water-tight’ before it is released to the public. The IOTA Foundation invites community members to take part in the work, with grants available for “developing and expanding the notion of permanodes.”   source: CoinMarketCap   IOTA joined the altcoin surge today, enjoying a healthy bump of more than 14% in value against USD and BTC over the past 24 hours. The token has enjoyed a positive week, with over 10% growth in USD price over the past seven days.   The post IOTA Introduces Permanode Tech For Long-Term Data-Storage appeared first on Crypto Briefing.

HUGE Altcoin Updates! Stellar, Binance US, Tomochain, Digibyte, NEO, Monero, Bitcoin Bakkt

Binance Adds BNB to Binance US A brief history of the world of crypto. Plus, all of the latest news and updates from the Stellar Developers ecosystem How TomoChain’s TomoZ intends to take on Ethereum market share! Virtual Rehab with Virtual Reality is now solving real-world problems Celer Network and NEO Are Launching a Partnership Bitcoin #Bakkt Tweet Big! #Monero ready to use Zcoin’s Privacy protocol #digibyte lists on UpHold #bitcoin #cryptocurrency #altcoin #altcoins #crypto #btc $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news Bitcoin cryptocurrency altcoin altcoins crypto btc $BTC bitcoin price ethereum electroneum enjin cardano digibyte bitcoin news btc libra chainlink ripple xrp ripple Binance bitcoin news today crypto news Litecoin cryptocurrency news hpb high performance blockchain $xrp $enj $etn $ltc $dgb $ada NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

The Celsius app offers the industry highest rates and supports six different stablecoins all eligible to earn up to 12.03% annually with interest paid out weekly Celsius Network (, the industry-leading cryptocurrency platform, announces today it has increased interest rates for stablecoin deposits to 12.03% APR. Users who choose to earn interest in Celsius Network's blockchain-based CEL token can earn up to 30% more than the 9.25% depositors who are paid in-kind on their coins. Celsius is raising its rates because it is consistently earning higher returns on its deposits and distributes 80% of its income to its depositors; as it earns more, it distributes more. Unlike other platforms, ...Full story available on

VanEck, SolidX Pull Bitcoin ETF Filing From SEC Consideration

Less than two weeks after VanEck and SolidX rolled out the VanEck SolidX Bitcoin Trust ETF (XBTC), a bitcoin exchange traded product aimed at institutional investors, the firms said they're withdrawing plans for bitcoin exchange traded fund aimed at a broader swath of investors. What Happened The ETF issuer and the fintech firm pulled the filing from consideration by the Securities and Exchange Commission on Sept. 13. The agency had delayed an ultimate decision on that product, as it has with various other bitcoin ETF proposals, several times, but was facing a hard and fast deadline of Oct. 18 to approve or disapprove the VanEck SolidX Bitcoin Trust. “Tuesday’s filing marks the second time VanEck and SolidX withdrew the proposed ETF. ...Full story available on

IOTA Introduces Chronicle Permanode to Amend Scalability Issues

IOTA, a permissionless trust protocol designed to revolutionize the Internet of Things (IoT) ecosystem by facilitating a frictionless exchange of value between machines and humans, has announced the launch of Chronicle, a permanode solution the team hopes will give node operators an unlimited amount of storage space in their Tangle distributed database, according to aRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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