PwC: Blockchain technologies could boost the global economy US$1.76 trillion by 2030 through raising levels of tracking, tracing and trust

LONDON, Oct. 13, 2020 /PRNewswire/ — New analysis by PwC shows Blockchain technology has the potential to boost global gross domestic product (GDP) by US$1.76 trillion over the next decade.  

 

 

That is the key finding of a new PwC report Time for trust: The trillion-dollar reason to rethink blockchain,  assessing how the technology is being currently used and exploring the impact blockchain could have on the global economy. Through analysis of the top five uses of blockchain, ranked by their potential to generate economic value, the report gauges the technology’s potential to create value across industry, from healthcare, government and public services, to manufacturing, finance, logistics and retail.

“Blockchain technology has long been associated with cryptocurrencies such as Bitcoin, but there is so much more that it has to offer, particularly in how public and private organisations secure, share and use data,” comments Steve Davies, Global Leader,

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Yelp flags restaurants accused of racism, raising concerns

Now Yelp, the platform that has more than 200 million crowdsourced reviews, announced Thursday that it will start flagging businesses that have been accused of racism, a new practice that some critics say could be abused by users.

In a blog post by Noorie Malik, the vice president of user operations, Yelp announced it will affix a “Business Accused of Racist Behavior” alert on accounts only when there is “resounding evidence of egregious, racist actions from a business owner or employee, such as using overtly racist slurs or symbols.” The alert will always be accompanied by a link to a news story from a credible media outlet, Malik wrote.

“As the nation reckons with issues of systemic racism, we’ve seen in the last few months that there is a clear need to warn consumers about businesses associated with egregious, racially-charged actions to help people make more informed spending decisions,” Malik

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Asia’s capital raising rush delivers record fees for banks in third quarter

HONG KONG (Reuters) – Asia’s equity capital markets generated a record pay day for investment bankers in the third quarter, bolstered by surging appetite for technology deals and a rush to list on China’s new STAR Market, Refinitiv data showed.

Asia Pacific, including Japan, saw bankers garner $3.6 billion in equity capital market (ECM) fees in July-September, up 145% from the same period a year earlier. The previous peak was $3.5 billion in the fourth quarter of 2009.

Bankers are also preparing to fatten their pay packets when Ant Group raises up to $35 billion in a dual listing in Hong Kong and Shanghai likely in October.

“Global capital markets are working. An enormous amount of money is available worldwide,” said Aaron Arth, head of the Asia ex-Japan financing group at Goldman Sachs. “All signs point to a steady desire and need for capital.”

Total equity market capital raised in

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3 Lessons Rebecca Alvarez Story Learned While Raising Capital For A Sexual Wellness Marketplace

When Rebecca Alvarez Story first started Bloomi, a sexual wellness marketplace, she understood that the gap she was trying to fill was one women had traditionally been encouraged to not speak about openly. 

Her mission was to solve for that exact problem. 

“By normalizing conversations around sex and wellness I hope other women, especially other women of color like myself, can feel empowered to embrace their sexuality and make informed decisions for their bodies,” she’d previously shared with Forbes. “It’s important that we talk about sex, because it’s a big part of our overall physical and emotional well-being.”

Now, as Bloomi has entered a round of crowdfunding and updated its strategy to meet the moment, Story has an even clearer view of how mission and product will intertwine. 

“When COVID hit, I began to lead free workshops covering a variety of intimacy and sexual

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Group raising $50,000 to send science kits to schools in South America, Caribbean

ORLANDO, Fla. – A group of passionate science communicators from around the world are working to bring science supplies to students in South America and the Caribbean and one of the group members plans to fly down the supplies once it’s all said and done.

Passage was founded by a growing group of young and veteran leaders in science, with the goal of supplying more than 20,000 pre-kindergarten to high school-age children with the tools to help them learn about science, technology, engineering and math fields.

“It’s for kids and students who, you know, maybe are in high school who are going to be going into college to get into STEM degrees, or just starting off who looked at Bob and Doug go to space and said, I want to be an astronaut,” Passage group member NASA engineer Joan Melendez-Misners said.

[SPACE CURIOUS PODCAST: Astronomers are working to ensure large

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New Rules For Raising Venture Capital

There’s a bit of a chill in Silicon Valley. The reality is that snagging venture funding is getting much harder.

So what should an entrepreneur do? Well, Sash Sunkara definitely has some actionable advice. Keep in mind that she recently secured $10 million in a Series B funding.

Then again, her company, RackWare, is a top player in the fast-growing market for comprehensive cloud computing management. Oh, and she knows how to hit her numbers and milestones. Just some of her marquee customers include Blue Cross Blue Shield of CA, Coca-Cola, IBM SoftLayer, HBO, Crayola and Zebra.

So what does she recommend for entrepreneurs?  Here’s a

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Sequoia Capital China raising $2.2 billion in new yuan fund, say sources

HONG KONG (Reuters) – Investor Sequoia Capital China is raising at least 15 billion yuan ($2.2 billion) in a new yuan-denominated fund, people with knowledge of the matter said, building a war chest as the world’s second-largest economy recovers from a virus-induced slump.

The fund, Sequoia China’s sixth, is likely to be the largest of its kind for the company and is expected to focus on sectors ranging from industrial technology, healthcare and consumer to media, said one of the people.

The early investor in top Chinese technology firms such as Alibaba Group Holding BABA.N reached the first close of the fundraising late last year, according to another person.

The Chinese investment arm of Silicon Valley venture capital firm Sequoia Capital looks to fully close the fundraising in the coming weeks and the final fund size would be about 18 billion yuan, said a third person.

The people declined to

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