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JPMorgan buying WePay, shifting fintech investment into high gear

“There have been 166 fintech payment deals totaling at least $29.3 billion in 2017, the Journal reported, citing numbers from Financial Technology Partners” writes John Adams for paymentssource.com. The bank has made some investments, including a relatively small $10 million stake in LevelUp, participated in a $100 million investment in Bill.com, and invested in MCX’s mobile payments technology to bolster Chase Pay.For JPMorgan Chase, it’s a substantial commitment to its fintech investment strategy.JPMorgan Chase has made several investments in financial technology startups, but its plan to buy WePay will give…

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IBM set to report earnings after the bell

“IBM will disclose earnings for the third quarter of the year after the closing bell on Tuesday” writes Jordan Novet for cnbc.com. In terms of guidance, analysts are expecting the company to end 2017 with $13.75 in earnings per share, according to Thomson Reuters.If that revenue estimate turns out to be correct, then IBM’s revenue would be down by 3.3 percent year over year, marking the company’s 22nd consecutive quarter of revenue declines. Source: cnbc.com Share This:

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Apple responds to top senator’s privacy questions about the iPhone X’s face scanner

“Senator Al Franken said on Monday that Apple was working with his office to answer any questions about Face ID, Apple’s new facial recognition technology that goes on sale on November 3” writes Kif Leswing for businessinsider.com. I plan to follow up with Apple to find out more about how it plans to protect the data of customers who decide to use the latest generation of iPhone’s facial recognition technology.”.  Source: businessinsider.com Share This:

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Alphabet tests Project Wing drones by delivering burritos and medicine

“The very first testing of Project Wing was carried out in Australia, in 2014, when the company delivered a first aid kit, candy bars, and dog treats to a cattle ranch in Queensland” writes Alex Hern for theguardian.com. That means that in addition to learning what people want delivered, we also have to learn how to best deliver items to people,” the company said. Source: theguardian.com Share This:

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China tries to reassure foreign companies, promises openness

“Trump has ordered an investigation into whether Beijing is improperly requiring foreign companies to hand over technology in exchange for market access” writes The Associated Press for seattletimes.com. He also tried to defuse concern about a technology plan dubbed “Made in China 2025” that calls for developing Chinese competitors in electric cars and other fields. Source: seattletimes.com Share This:

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Apple and Google promise security updates to fix Krack Wi-Fi flaw

“The “Krack” vulnerability that emerged on Monday affects potentially every Wi-Fi network in the world and is seen as one of the biggest security scares in years” writes James Titcomb for telegraph.co.uk. However, since Android manufacturers have to release their own security updates, it may be months until some phones are safe, and others may never be secured.Microsoft said an automatic security update issued last week had fixed the problem for Windows 7, 8 and 10 users. Source: telegraph.co.uk Share This:

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Digital Asset raises $40m Series B funding and appoints Two Sigma CTO Clyde Rodriguez

“The latest round brings the total funding raised by Digital Asset to over $110m as the company expands its global presence” writes Ian Allison for ibtimes.co.uk. Digital Asset, the distributed ledger technology company led by Blythe Masters, has raised over $40m (£30m) of Series B financing, and bolstered its executive team with Clyde Rodriguez, former co-CTO of Two Sigma Investments.”Clyde is a respected technology executive with a strong track record of leading engineering teams to develop mission-critical enterprise software that supports hundreds of millions of customers worldwide. Source: ibtimes.co.uk Share This:

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Crypto News 

Jamie Dimon is betting big on the technology behind ‘fraud’ bitcoin

“The largest U.S. bank is investing in the blockchain technology behind bitcoin, despite its CEO calling the digital currency a “fraud.”” writes David A for cnbc.com. In September, JPMorgan Chase Chairman and CEO Jamie Dimon said bitcoin is a “fraud” that “won’t end well.”. Blockchain technology eliminates the need for a third party intermediary by creating a permanent, open record of all transactions on a network.The digital currency has run up six times in price this year to a record high of $5,856 Friday.But at the same talk Friday, Dimon…

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Crypto News 

IBM releases cross-border blockchain payments system

“IBM has looked to take the pain out of transferring cryptocurrencies across territories with the creation of a new cross-border blockchain payment solution” reports itproportal.com. The solution is based on IBM’s blockchain technology, allowing clearing and trade settlements on a single network and in real-time.Besides KlickEx Group and Stellar.org, there’s also a handful of banks advising and collaborating in the development of the solution. Source: itproportal.com Share This:

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Crypto News 

J.P. Morgan Is Launching a Payments Network Using Blockchain

“The network will be powered by Quorum, a blockchain technology developed by J.P. Morgan” reports fortune.com. J.P. Morgan Chase & Co said on Monday it launched a new payment processing network that uses blockchain technology, in partnership with Royal Bank of Canada and Australia and New Zealand Banking Group.Blockchain, a shared ledger of transactions maintained by a network of computers on the internet, is the technology that underpins cryptocurrency bitcoin.While JPMorgan Chief Jamie Dimon has spoken out against bitcoin, he and other banking executives have lauded the technology. Source: fortune.com Share…

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