China to Lead the Way for Blockchain Usage

Industry experts have said that China is set to lead the way with the use of blockchain as it reinforces the development of digital intelligent services, reports the South China Morning Post.

According to the report, this development is running alongside plans by the country’s telecommunications industry as it works at rolling out 5G mobile services by 2020.

Vijay Mayadas, the vice-president of corporate strategy and head of blockchain strategy at Broadridge Financial Solutions, said to the South China Morning Post, that:

When 5G, the Internet of Things and autonomous driving start to get more prevalent then blockchain could potentially become the underlying ledger to record transactions and maintain trust in those applications.

Even though China has been slower to adopt the technology compared to other countries, it’s certainly making up for lost time. It’s doing this through its banks, which are hiring experts and developers to keep up-to-date with the technology-driven landscape.

Despite housing four of the world’s five largest banks by capital, the Chinese banking system still relies on paper and faxes. However, it is attempting to make the leap to a paperless, secure, auditable, and tamper-proof system through the blockchain as the technology gains pace.

In 2016, 86 percent of companies surveyed in China reported fraud, according to Kroll, a business intelligence firm. As the use of the blockchain gains in popularity for different use cases, Chinese regulators are beginning to see the technology as the ideal solution to stopping fraud.

Other global banks are also turning their attention to exploring blockchain to prevent fraud risk in the $4 trillion trade financing industry.

Not only that, but a survey from IBM, which looked at 200 global banks, found that 34 percent of those surveyed believed that blockchain would occur and ultimately envelop their banking services by 2020.

Digital Currency Interest

China’s boost in blockchain applications is highlighted by its increased interest in digital currency.

At the beginning of the year, the People’s Bank of China (PBOC) announced that it had completed a trial run of digital currency based on blockchain technology. According to the report, it revealed how the government plans on setting up the digital payment infrastructure when functional and ready for deployment.

Such a move clearly demonstrates the country’s commitment to staying ahead of competition and the fact that it understands the benefits that the blockchain can produce in the long-term. With its advancements, it’s set to become the global leader in the technology’s usage.

Source: Cryptocoinsnews

BlackBerry KeyOne Specs & Price

BlackBerry KeyOne is the latest BB phone from TCL. It is the first BlackBerry phone since the PRIV and the first from TCL to feature a physical QWERTY keyboard. BlackBerry KeyOne has a 4.5-inch display and runs on Android 7.1.

Where to Buy BlackBerry KeyOne

BlackBerry KeyOne Key Specs & Features

• 4.5-inch IPS Display, 1080 x 1620 pixels (434ppi)
• Four-Row Physical QWERTY Keyboard
• 2.0GHz Octa-core Qualcomm Snapdragon 625 CPU with 3GB RAM
• Android 7.1 (Nougat) with DTEK Security Software
• 32GB Storage with support for memory card up to 256GB
• 12MP Rear Camera and 8MP Front Camera
• 4G LTE (up to 450 Mbps download)
• Fingerprint Sensor (Front)
• 3505 mAh Battery with Fast Charging

Design, Display, Cameras

BlackBerry KeyOne features the same touchscreen and physical QWERTY keyboard combo of the BlackBerry Priv. However, the keyboard does not slide-in like in the later.

This rigid keyboard design results in a much smaller screen in order to accommodate the QWERTY keys. BlackBerry KeyOne has a 4.5-inch IPS display with 1080 x 1620 pixels resolution.

The display is covered in Corning Gorilla Glass 4. The four-row physical QWERTY keyboard is located below the screen with the space bar of the keyboard also doubling as a fingerprint sensor.

BlackBerry KeyOne has a 12 megapixel camera on the back (Sony Sensor) and an 8 megapixels camera on the front. The rear camera features Phase Detection autofocus, dual-tone LED flash, HDR, Panorama, and Face Detection.

Both cameras record 1080p HD videos.

Hardware & Software

BlackBerry KeyOne runs Android 7.1 (Nougat) on the 2GHz octa-core Qualcomm Snapdragon 625 chipset with 3GB RAM. The Android smartphone sports 32GB built-in storage with support for up to 256GB memory card.

BlackBerry KeyOne supports dual-band Wi-Fi, Bluetooth 4.2, USB Type C, and NFC. The phone support download speeds of up to 450Mbps on 4G LTE with most LTE bands supported depending on region or country. In Nigeria it supports all the 4G networks including MTN, Etisalat, Glo, NTel, Smile, and InterC.

BlackBerry KeyOne is pre-loaded with the DTEK security software that was made popular by earlier phones by TCL like the BlackBerry DTEK50 and BlackBerry DTEK60. While TCL did the design and build, BlackBerry focused on the software.

Pricing and availability

BlackBerry KeyOne will launch on April 2017 starting at a price of around $549. We currently have no data on pricing and availability for Nigeria, Ghana, or Kenya. When available, you can buy the smartphone at leading online stores in the countries. BlackBerry KeyOne Price in Nigeria is expected to range from 195,000 Naira to 300,000 Naira depending on your location in the country.

BlackBerry KeyOne Specs

Here are a few specs of the BlackBerry KeyOne:

General Features

• Platform: Android 7.1 (Nougat)
• Processor: 2.0GHz Octa-core Processor (Qualcomm Snapdragon 625)
• GPU: Adreno 506
• Memory: 3GB RAM
• Colours: Black
• Dimension: 149.1 x 72.4 x 9.4 mm
• Weight: –
• SIM Type: Nano-SIM
• SIM Count: Single SIM

Display

• Display: 4.5-inch IPS Display, 1080 x 1620 pixels (434ppi)
• Screen Protection: Corning Gorilla Glass 4

Camera

• Rear Camera: 12 MP Camera, 1080p HD Video
• Rear Camera Features: dual-LED Flash, HDR, PDAF Autofocus, Geo-tagging, Face Detection, Panorama
• Front Camera: 8 MP Camera, 1080p HD Video

Storage

• Built-in Storage: 32GB
• Memory Card Support: Yes, up to 256GB Storage
• Bundled Cloud Storage: –

Network Support

• 2G GSM: 850 / 900 / 1800 / 1900MHz
• 2G CDMA 1X: No
• 3G WCDMA: 850 / 900 / 1900 / 2100MHz
• 3G CDMA EVDO: No
• 4G LTE: Yes, LTE band 1(2100), 2(1900), 3(1800), 4(1700/2100), 5(850), 7(2600), 8(900), 13(700), 17(700), 20(800), 28(700), 38(2600), 40(2300) [EMEA], LTE band 1(2100), 2(1900), 3(1800), 4(1700/2100), 5(850), 7(2600), 12(700), 13(700), 20(800), 25(1900), 26(850), 28(700), 29(700), 30(2300), 41(2500) [United States v2], LTE band 1(2100), 2(1900), 3(1800), 4(1700/2100), 5(850), 7(2600), 8(900), 12(700), 13(700), 17(700), 19(800), 20(800), 28(700), 29(700), 30(2300), 38(2600), 39(1900), 40(2300), 41(2500) [Canada, LATAM, APAC, US v1]

Internet & Connectivity

• GPRS: Yes, up to 48kbps
• EDGE: Yes
• 3G/WCDMA/HSPA: Yes, up to 21Mbps
• HSPA+: Yes, up to 42Mbps
• CDMA EVDO: No
• 4G LTE: Yes, up to 450Mbps
• WLAN: Wi-Fi 802.11 a/b/g/n/ac, Dual-Band, Wi-Fi Direct
• Wi-Fi Hotspot: Yes
• Bluetooth: Yes, Bluetooth 4.2 with A2DP, LE, EDR
• NFC: Yes
• Infrared Blaster: No
• USB Port: Yes, USB Type C, USB on the Go

Messaging

• SMS/MMS: Yes
• Instant Messaging: Yes
• Push Emails: Yes
• Email Protocol: IMAP4, POP3, SMTP

Entertainment

• Music Player: Yes, mp3, WAV, FLAC, eACC+
• Video Player: Yes, MPEG4, H.263, H.264, XviD
• FM Radio: Yes
• Loudspeaker: Yes (Stereo)
• 3.5mm Jack: Yes

Navigation

• Navigation: Yes, GPS with A-GPS, GLONASS
• Maps: Yes, Google Maps

Sensors & Control

• Digital Compass: Yes
• Accelerometer: Yes
• Proximity Sensor: Yes
• Light Sensor: Yes
• Barometer: No
• Pedometer: –
• Heart Rate Monitor: No
• Gyroscope: Yes
• Fingerprint Scanner: Yes (Rear)
• Iris Scanner: No
• Intelligent Digital Assistant: Yes
• Motion Sensing / Gesture Control: Yes
• Voice Control: Yes

Other Features

• Video Streaming: Yes
• Physical QWERTY Keyboard: Yes, 4-row QWERTY keyboard
• Active Noise Cancellation: Yes (with dedicated mic)
• Built-in Mobile Payment: –
• Wireless Charging: No
• Water Resistant: No
• Dust Resistant: No
• Image Editor: Yes
• Video Editor: Yes
• Document Viewer: Yes
• Document Editor: No (download at store)

Battery

• Battery: 3505 mAh Li-ion Battery (non-removable)
• Talktime: –
• Standby Time: –
• Fast Charging: Yes (Quick Charge 3.0), charge to up to 50% in 36 minutes

Source: naijatechguide

Blockchain Will Be Commercial in 2019, Says CEO of Russia’s Largest Bank

Noted blockchain advocate, bitcoiner and chief executive of Sberbank, Herman Gref, has stated that the commercial applications of blockchain technology in Russia will take shape in two, or two-and-a-half years from now.

According to regional news publication Prime, the chief executive of Russia’s largest bank by assets opined that the timeframe, while optimistic, is likely to be achieved. Gref points to a special working group headed by Russia’s Deputy Prime Minister Igor Shuvalov toward exploring blockchain applications as a “huge step forward” toward development and the plausible deployment of blockchain technology across a “virtually all industries”.

In quotes reported by the publication, Gref added:

Maybe they are a bit optimistic, but 2-2.5 years – is the horizon within which we can speak about the application of blockchain technology in commercial applications.

Sberbank was previously in discussions to join the country’s first financial (private) blockchain consortium spearheaded by the Bank of Russia, the country’s central bank. The central bank’s interest in exploring blockchain applications were first revealed in early 2016, when it established a working group to that end.

Meanwhile, Sberbank has previously expressed its interest to join the banking blockchain consortium led by R3, as early as 2015In late 2016, Sberbank joined the open-source Hyperledger blockchain project, led by the Linux Foundation.

For his part, Gref has publicly stated his support for blockchain-based innovation and poured scorn on the previously proposed and now-defunct bitcoin ban bill proposed by the Russian Finance Ministry. He argued that banning bitcoin would hinder Russia’s own technological progress and will persuade blockchain technology experts to move away from the country to friendlier jurisdictions.

Further, Gref also revealed that he used to trade virtual currencies, specifically bitcoin. Speculating on their value, the banking executive revealed that he exchanged them to rubles and back to bitcoin, speculatively investing in the world’s most prominent cryptocurrency.

Source: Cryptocoinsnews

Report: Nigerian Retail Banking Sector to see 92% Disruption by FinTech

A report has shown that retail banking and fund transfers in Nigeria are the two biggest areas that are most likely to be affected by FinTech over the next five years.

The report, Nigeria FinTech Survey 2017 [PDF], which was released by PricewaterhouseCoopers (PwC), found the likelihood of disruption within these two areas amounted to 92 percent and 85 percent respectively.

Over the last few years, the banking and payments sub-sectors have experienced a large amount of disruption with new technology-driven payments applications and processes as well as innovative digital applications that aid simpler payments, and an increase in the use of electronic devices to transfer money.

FinTech is quickly evolving within the financial services sector which is seeing an increase in the number of technology-focused startups and other entrants changing how the industry works.

In Africa, FinTech investments are estimated to have increasde by a compound annual growth rate of $200 million from 2014 to $800 million in 2016. According to the report, this could potentially increase to a value of $3 billion by 2020, with Nigeria and South Africa receiving a significant portion of the investments.

Changing Customer Needs

The report found that financial services in Nigeria see changing customer needs as the main impactor FinTechs will have on their business. It revealed that 60 percent of those surveyed believe that as much as 40 percent of financial services firms will be at risk by 2020.

With 85 percent of the African population owning a mobile phone and Nigeria leading the world in mobile share of web traffic at 82 percent, financial service industry players need to embrace the digital experience offered by companies such as Facebook, Amazon, and Google, to ensure their customers get the same level of experience from their financial service providers.

Deji Oguntonade, head of the e-Payment Solutions Group, Guaranty Trust Bank Plc, said that FinTechs are more agile and are not bogged down with legacy issues from infrastructure, culture, and manpower perspectives.

He said:

They are therefore more open to try out new technologies and provide customers with endearing products and services in a much quicker manner. It would therefore be good for banks to partner with FinTechs and take advantage of their agility.

Blockchain: An Untapped Technology

Although the technology demonstrates a lot of promise, several challenges and barriers to adoption remain such as cybersecurity, privacy concerns, and restricted governance over decentralized networks.

As such, compared to other trends blockchain ranks lower on the agenda. While respondents recognize the blockchain’s importance, they are unsure of how to or unlikely to respond to this trend.

The survey found that 45 percent of respondents within banking are ‘moderately’ familiar with it while only a few consider themselves to be experts. This lack of understanding could lead market participants to underestimate the impact the blockchain could potentially have on their activities.

Source: Cryptocoinsnews