Week Ending November 25, 2016

Three things to know

Goldman Sachs, Santander, Morgan Stanley and National Australia Bank are leaving the Blockchain consortium R3.  As of Friday, there were unconfirmed reports that US Bancorp, JP Morgan, and Macquarie also plan to exit R3.  Some reports describe the reasons for leaving as being unable to agree on terms of the next round of funding. 

It’s not that members are leaving R3, it is which members are leaving. The exits raise questions about what might be the underlying and non-reported reasons for the exits. Could it relate to sharing proprietary development?  When looking at the companies that are leaving, one commonality is that they have been among the most innovative in developing and deploying Blockchain.  For example, NAB was among the first to make a cross-border transfer.  Santander was among the early developers of numerous use cases and cost savings estimates. Goldman Sachs developed innovative FX methods it is patenting.  

Perhaps these more innovative members have determined they don’t need to operate in a consortium to make major breakthroughs. If this is the case, what are the implications? In one scenario, the consortium will be comprised of companies that may perhaps be a bit less innovative and less committed (at this stage) to Blockchain. These companies can benefit from collaboration and shared ideas. 

While losing key members isn’t the best-case scenario, it may be the scenario that ultimately holds the widest scope of benefits.  Innovators can progress at their own pace, while those requiring more development and guidance can find it in the consortium.


Goldman Sachs Drops Out of R3 Blockchain Group

Santander Quits R3 Blockchain Consortium

Why Goldman Sachs and Santander Are Bailing on R3’s Blockchain Group

Morgan Stanley plans to quit R3 blockchain consortium

Exodus continues from R3 blockchain consortium

Blockchain startup R3 cuts fund-raising target to $150 million: source

Weekly Blockchain

Financial Services

Overstock.com (OSTK) Raising Capital from Its t0.com Blockchain Trading Platform

Why Remittance Giant MoneyGram Won’t Be First with Blockchain

Energy
The Blockchain Energy System Is Going To Be Great For Consumers

A Majority of the German Energy Industry is Interested in Blockchain Tech

Blockchain may fuel the energy industry

Siemens to Reform New York’s Energy Market with LO3 Blockchain Microgrids
The Blockchain Energy System Is Going To Be Great For Consumers

#Blockchain Technology Could Herald the Start of a New Model for Transactive Energy, According …

How blockchain can change the future of IoT

Blockchain technology is coming to the solar panels on your roof

Healthcare

Can blockchain bring interoperability to healthcare?

Gates Foundation Grant Boosts Factom’s Blockchain-Based Medical Record Development

Factom, Inc. Receives Grant to Create Secure Medical Records Using its Blockchain Technology

Teleradiology platforms: the business case for blockchain

Global

The Swiss Government is Paving the Way for Crypto Banks

Blockchain technology – opportunities and challenges

How South Africa’s ‘Shark Tank’ Saw its First Bitcoin Investment

Moscow Bitcoin Conference: Finding Solutions for Pressing Industry Challenges

Blockchain Interest is Rising in Russia (Despite Legal Concerns)

Korea Exchange opens the Korea Startup Market with blockchain technology

Chinese dominance in the blockchain space now includes startup investments
Taiwan Considers Fintech Overhaul, Blockchain Tech May See Adoption

India’s Demonetization: Cash is Not Holy Cow, in Bitcoin Blockchain We Trust

Government

Blockchain technologies could transform government services

Blockchain News: Bitcoin Threatened by IRS Investigation

Is Blockchain Technology Going to Disrupt Our Political System

Uses and Applications

ABN Amro applies blockchain tech to the logistics sector

Advertising Industry Starts Looking at Blockchain at ad:tech event in NYC

Walmart Tests the Blockchain to Tackle Food Safety

Potchain 1.0 and Blockchain

Lab: Create and deploy chaincode to the IBM Blockchain service on Bluemix

Making Sense of Blockchain Governance Applications

Incent ICO Raises $1 Million for its Blockchain-Based Loyalty Token

Using blockchain to manage automotive cybersecurity

Blockchain opens 10 millionth bitcoin wallet after Brexit and Trump boost

From Bitcoin to puke-tracking: Walmart uses blockchains to monitor food

Bitcoin Pioneer Charlie Shrem Launches New Blockchain Venture

NFC and blockchain combined to create supply chain security solution

Transparency in Music – Powered by Blockchain

Thought Leadership

In a Blockchain world, the ‘first mover’ matters as there is no time to be second.

The Death of Charities

Trump Could Unleash Blockchain Potential

When Blockchain and Decentralization Disrupt Gambling

Seven Reasons Why Investment in Blockchain Has Slipped

How Blockchain Can Help Reduce Money Laundering
Bitcoin and blockchain seem more and more like solutions looking for a problem

Ethereum Users Need to Raise Gas Limits to Fight Blockchain Bloat

Preparing for Digital Taxation in a Blockchain World

Blockchain Has Potential Outside of Finance, Creates New IT Infrastructure