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Introduction
 
 
 
 

Welcome to the October edition of the DigitalX Newsletter. In this newsletter we will discuss the results of our fiscal year Annual Report, as well as the expansion of the AirPocket mobile top up service across Latin America. Finally, we will end with an in depth market update on blockchain technology.

If you have any questions or comments for DigitalX, please email us at newsletter@digitalx.com.

 
 
Company Update
 
 
 
 

On September 30th, we lodged our Annual Report to shareholders. Below highlights the Operational Overview as shared in the Annual Report. You can view the entire report here.

“Our mobile bill pay and remittance product, AirPocket, is making big inroads internationally with a global telco partnership with DigitalX and Telef√≥nica International S.A.U. Telef√≥nica’s SMS campaign to promote AirPocket to 230 million user devices has commenced. Already, there has been over 5000 downloads of AirPocket, and it’s still early days of the campaign and we are expecting the rate of downloads to increase in the current quarter as marketing ramps up."

"The DigitalX Direct liquidity desk delivered a record year in revenue and profit boosted by strong bitcoin price appreciation, global financial events such as “Brexit” and growth in global trading volumes."

“In the last financial year, the decision was made to finalise our bitcoin mining operations and allocate our full capacity to driving the commercialisation of AirPocket. An objective review of our bitcoin mining operations and market forecasts for the space revealed disproportionate capital requirements for negligible benefit to shareholders. These resources can now be dedicated to driving the growth of Airpocket in the critical period of development ahead."

Additionally, on September 30th, we announced a partnership with TransferTo, a B2B mobile payment network connecting financial institutions and mobile operators globally. The exciting opportunity to partner with TransferTo allows AirPocket to have access to over 400 carrier networks across the globe and over 4.5 billion mobile users. The TransferTo partnership expands AirPocket’s mobile top up service to all major carriers across Latin America (and across the globe). AirPocket and TransferTo are currently working on integration and testing to be completed by end of October.

As we enter the year-end quarter, we look forward to the announcement of additional partnerships and features coming to AirPocket. Stay tuned!
 
 
Market Update
 
 
 
 

September’s blockchain headlines suggested a turning point for blockchain technologies as several banks and technology companies announced advanced efforts to release products centered around distributed ledgers.

In a survey presented by IBM, it was found that of over 200 financial institutions and operators, 14% expect to launch commercial-scale blockchain services in 2017, and 34% anticipate they would do so by the year 2020.

Echoing IBM’s survey results, Bank of America and UBS announced separate projects aimed at using blockchains to address various pain points in international trade finance. These experiments follow IBM's own blockchain trade finance solution in which they recently deployed for managing their internal supply chain.

Blockchains can be used to expedite and optimize the financing of international trade transactions: for example, a blockchain event can be recorded when crucial points in the supply chain occur: when goods cross international boundaries, when they are received at port, or when final payments are made. The real-time auditing of events reported on a blockchain make it possible to free up capital when it is no longer needed, thus making financing agreements more efficient and cost effective.

The recent moves by major financial institutions are complemented by the increasingly broad work at the open-source consortium Hyperledger project aimed at developing standards for blockchain applications and motivating developers to find real-world solutions. While these efforts continue apace, concrete applications of blockchain technology are still in the process of materializing, offering opportunities for startups to play a significant part in shaping the future of the space. The next 6 months should begin to give a clearer indication of where blockchain and distributed ledger tech is heading.

Blockchain in the News
  1. Banks adopting blockchain 'dramatically faster' than expected: IBM
  2. How blockchain will grow beyond bitcoin
  3. Banks Are Turning To The Blockchain In A Big Way
  4. Blockchain: A Radical New Way To Transact Business
 
 
 
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