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AWS Announces Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain
SEATTLE–AWS re:Invent, Amazon Web Services, Inc. (AWS), an Amazon.com company (NASDAQ:AMZN), announced two new services to help companies manage business transactions that require full auditability. Amazon QLDB is a transparent, immutable, and cryptographically verifiable ledger for applications that need a central, trusted authority to provide a permanent and complete record of transactions (for example, supply chain, financial, manufacturing, insurance, and HR). For customers who want to build applications where multiple parties can execute transactions without the need for a trusted, central authority, Amazon Managed Blockchain makes it easy to create and manage scalable blockchain networks using the popular, open source Ethereum and Hyperledger Fabric frameworks. With a few clicks in the AWS Management Console, customers can set up a blockchain network that can span multiple AWS accounts and scale to support thousands of applications and millions of transactions. To learn more about Amazon QLDB, visit https://aws.amazon.com/qldb. To learn more about Amazon Managed Blockchain, visit: https://aws.amazon.com/managed-blockchain.
Amazon QLDB: A transparent, immutable, and cryptographically verifiable ledger database service (available in preview)
Customers looking to implement blockchain technologies are typically trying to accomplish one of two things. Some need a centralized ledger that records all changes or transactions and maintains an immutable record of these changes (for example, tracing the movement of an item through a supply chain network, tracking the history of credits and debits in banking transactions, or validating incidents filed against an insurance claim). This ledger is owned by a single trusted entity and is shared with any number of organizations that are working together. To do this today, customers can use relational databases, or they can use the ledger technology in one of the open source blockchain frameworks. Neither solution is optimal. Relational databases aren’t built for immutable, cryptographically verifiable ledger entries, so customers must build custom audit tables and audit trails. And, there is no way to verify that no unintended changes were made to the data. Using the ledger in a blockchain framework may give customers an immutable history of data changes, but comes at the cost of the heavy lifting to set up a full blockchain network with at least two nodes and all of the associated access control configuration. Because there are limited database Application Programming Interfaces (APIs) within the blockchain frameworks it is challenging to create tables, index, and query data. Finally, blockchain frameworks are decentralized and require consensus from members in the network before committing new transactions to the shared ledger, which significantly slows ledger performance.
Amazon QLDB is a new class of database that provides a transparent, immutable, and cryptographically verifiable ledger that customers can use to build applications that act as a system of record, where multiple parties are transacting within a centralized, trusted entity. Amazon QLDB removes the need to build complex audit functionality into a relational database or rely on the ledger capabilities of a blockchain framework. Amazon QLDB uses an immutable transactional log, known as a journal, which tracks each and every application data change and maintains a complete and verifiable history of changes over time. All transactions must comply with atomicity, consistency, isolation, and durability (ACID) to be logged in the journal, which cannot be deleted or modified. All changes are cryptographically chained and verifiable in a history that customers can analyze using familiar SQL queries. Amazon QLDB is serverless, so customers don’t have to provision capacity or configure read and write limits. They simply create a ledger, define tables, and Amazon QLDB will automatically scale to support application demands, and customers pay only for the reads, writes, and storage they use. And, unlike the ledgers in common blockchain frameworks, Amazon QLDB doesn’t require distributed consensus, so it can execute two to three times as many transactions in the same time as common blockchain frameworks.
“AWS teams have been using Amazon QLDB for years to maintain a complete, immutable, and append-only journal of data changes. We started out trying to use relational databases to do this, but quickly found they could not scale or deliver the performance we needed to support our most widely-used services,” said Shawn Bice, Vice President, Nonrelational Databases at AWS. “Earlier this year, when we started talking to customers about what they needed from a blockchain solution, we realized that the Amazon QLDB’s ledger technology met a lot of their requirements. They wanted a centrally-owned ledger that provided an immutable way to log the transactions history of their applications and was transparent to all the parties with whom they were interacting. So, today we’re offering an immutable, transparent, and cryptographically verifiable ledger, based on the same one that AWS teams have been using for years at scale, as a fully managed service.”
Smaato, one of the leading online ad exchanges in the world, sees over 20 billion bid requests/day pass through their exchange. “All participants in the online advertising and real-time bidding market segments are interested in transparency throughout the entire lifecycle of an online ad auction, from the initial auction, to the winning bid, and ultimately through to the final impression delivery and who it’s actually shown to,” said Ragnar Kruse, CEO, Smaato. “Since we act as a centralized point of trust in this value chain, we’re really excited about Amazon QLDB. It offers a scalable, immutable, and cryptographically verifiable ledger that would allow us to maintain a complete and auditable record of all our auctions. We’re looking forward to collaborating with AWS and the Amazon Quantum Ledger Database team to bring more transparency to our ecosystem.”
Healthdirect Australia is a national, government-owned, not-for-profit organization that has been helping Australians manage their health and wellbeing for over a decade. “Healthdirect Australia operates in a heavily regulated industry, and it is critical that our compliance data is correct and auditable,” said Bruce Haefele, General Manager, Technology, Healthdirect Australia. “With Amazon QLDB we look forward to having a complete and verifiable history of every change in our system, making it simple to audit when and how we arrived at our current state. Regulatory compliance is a fact of life for healthcare companies, and Amazon QLDB enables us to easily track the controls we have in place and understand how they have changed over time.”
Amazon Managed Blockchain: An easy way to create and manage scalable blockchain networks (available in preview)
Other customers want the immutable and verifiable capability provided by a ledger, however they also want to allow multiple parties to transact, execute contracts, and share data without a trusted central authority. For this, customers use blockchain frameworks like Ethereum and Hyperledger Fabric. But setting up these frameworks is hard and time consuming. Each member of a permissioned network has to provision hardware, install software, create, and manage certificates for access control, and configure network settings. As usage of a blockchain application grows, there is a lot of work involved in scaling the network, including monitoring resources across all nodes, adding or removing hardware, and managing the availability of the entire network. This complexity is the reason many customers typically need the help of expensive consultants to make blockchain work.
Amazon Managed Blockchain is a new, fully managed blockchain service that makes it easy and cost-effective for customers to create and manage secure blockchain networks that can scale to support thousands of applications running millions of transactions. Amazon Managed Blockchain supports two popular open source blockchain frameworks, Ethereum and Hyperledger Fabric, and setting up a blockchain network is as easy as a few clicks in the AWS Management Console. Customers simply choose their preferred framework, add network members, and configure the member nodes that will process transaction requests. Amazon Managed Blockchain takes care of the rest, creating a blockchain network that can span multiple AWS accounts with multiple nodes per member, and configuring software, security, and network settings. For a permissioned network, Amazon Managed Blockchain secures and manages blockchain network certificates with AWS Key Management Service, eliminating the need for customers to set up their own secure key storage.
Amazon Managed Blockchain contains a voting API that allows network members to quickly vote to add or remove members. And, as application usage grows, customers can add more capacity to the blockchain network with a simple API call. Amazon Managed Blockchain offers a range of instances with different combinations of compute and memory capacity to give customers the ability to choose the right mix of resources for their blockchain applications.
Unlike existing blockchain technologies that require custom development to extract blockchain network activity data, Amazon Managed Blockchain makes it easy to replicate transactions to Amazon QLDB. This gives customers the ability to gain advanced insights on how to optimize the blockchain network by querying the change history of their network.
“Many of our customers want to build applications where multiple parties can execute transactions without a central, trusted authority, and they also need to create a blockchain network. Building a scalable blockchain network with existing technologies is just too hard today, and that’s why customers pay expensive consultants to help them,” said Rahul Pathak, General Manager, Amazon Blockchain at AWS. “Amazon Managed Blockchain eliminates the muck involved in setting up a network, adding and removing members, and scaling to meet application demands. Customers can use either Ethereum or Hyperledger Fabric, the two most popular blockchain frameworks, and get a functioning blockchain network set up with just a few clicks.”
The Guardian Life Insurance Company is a financial services and insurance company whose offerings include life and disability insurance, employee benefits, and dental insurance. “Given our vast partner ecosystem, we are exploring the decentralization and immutable tracking benefits of blockchain for potential applications in our insurance business. We believe blockchain can improve the transparency and efficiency for stakeholders in these networks to transact, while still maintaining an independently verifiable lineage of activities,” said Daniel Johnson, CTO and Head of Innovation, Guardian Life Insurance Company. “However, blockchain frameworks are complex and difficult to operate. With Amazon Managed Blockchain, we can now easily create Hyperledger Fabric blockchain networks to test and learn without worrying about managing the underlying infrastructure, networking, and software configuration. We’re also looking forward to the upcoming integration with Amazon QLDB to enable easy analytics and secure, off-chain storage for our blockchain network activity.”
“AWS has been a great partner in our journey to innovate in the field of blockchain, and with Amazon Managed Blockchain, we are able to more efficiently create a blockchain network and configure our member nodes in minutes,” said Jon Ruggiero, Senior Vice President, Workday. “AWS’ use of enhanced Hyperledger Fabric enables the blockchain network to be even more robust, scalable, and easier to manage. We’re excited for what we’ll be able to accomplish with this service as the number of members and transaction volumes grow.”
The Depository Trust & Clearing Corporation (DTCC) provides industry-leading solutions that promote the stability and certainty of global financial markets. “As critical financial market infrastructure, the industry relies on us to provide innovative solutions that reduce risk, increase transparency and evolve with market and regulatory needs,” said Rob Palatnick, Managing Director, Chief Technology Architect, DTCC. “We believe that blockchain technology represents a generational opportunity to re-imagine post-trade infrastructure. We are pleased to be using Amazon Managed Blockchain to explore possibilities with Hyperledger Fabric, where we can continue to lead industry initiatives around the exploration and adoption of blockchain. Amazon Managed Blockchain automates the deployment of blockchain infrastructure, bringing high availability and durability in a fully managed package, accelerating the adoption of distributed ledger technology.”
Change Healthcare is a leading independent healthcare technology company that provides data and analytics-driven solutions that reach approximately 2,100 government and commercial payer connections, 5,500 hospitals, 900,00 physicians, and 33,000 pharmacies. “Change Healthcare is excited to be the first enterprise healthcare technology company to test the Amazon Managed Blockchain,” states Aaron Symanski, Chief Technology Officer, Change Healthcare. “In addition to supporting Hyperledger Fabric, Amazon Managed Blockchain adds flexible storage and peer management features that we believe will help scale the blockchain infrastructure of our Intelligent Healthcare Network™ and achieve our goal of creating an increasingly coordinated, collaborative, and efficient healthcare system.”
About Amazon Web Services
For over 12 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 125 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 57 Availability Zones (AZs) within 19 geographic regions around the world, spanning the US, Australia, Brazil, Canada, China, France, Germany, India, Ireland, Japan, Korea, Singapore, and the UK. AWS services are trusted by millions of active customers around the world—including the fastest-growing startups, largest enterprises, and leading government agencies—to power their infrastructure, make them more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.


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Team Battenhall attended the #GrowWithTwitter event at the London Film Museum today. An event aimed at promoting opportunities for brands on Twitter, the speakers included Stephen McIntyre, Bruce Daisley, Oli Snoddy, Don O’Leary and Dara Nasr from the Twitter UK team as well as Matt Wheeler from Forward Labs, Sharon Flaherty from the Confused.com communications team and Guy Yalif, Head of Global Product Marketing for Twitter.
Stephen McIntyre opened up proceedings. He stated that with 200+ million active users and 10 million in the UK alone, Twitter is changing the nature of live events, giving a first person perspective. In the UK 80% of Twitter users are mobile, meaning they are to be reached on-the-go. Twitter is a short distance between the person (@) and the interest (#) and the top categories people want to hear about are: TV, retailers, tech, news and fashion. 54% of Twitter users follow brands and businesses.
Bruce Daisley, Director of Twitter UK, then discussed how Twitter increasingly acts as a second screen to TV, with 60% of users tweeting while watching TV. It was interesting to see the different types of media and corresponding twitter engagement: with dramas, tweets are ‘bookends’ (low during the show and high before and after); talent shows’ tweet patterns change from constant (through early stages) to high during crucial episodes, such as semi-finals and finals; and there is an interesting correlation between current affairs programmes such as Question Time and chat-shows such as Alan Carr: Chatty Man, in that both genres of show remain constantly active on Twitter, increasing levels of conversation way after the credits.
Planning for the moment is key and the example of Lynx really stood out to us as being timely and conversational. During Oli Snoddy’s talk, he spoke about an episode of #thedoggingtales on Channel 4, where a masked dogger said that he used Lynx as his deodorant. This was seen to be terrible exposure for the brand. However, the response from the Lynx social media team was to play the tweets, show and hashtag to their own advantage, as you can see here. An example of adapting in the moment, using clear guidelines and a decentralised social media management system.
Finally, creativity in 140 characters was touched upon. Guy Yalif argued against the claim that 140 characters is constraining, suggesting that Twitter is a bridge, not an island. Vine was discussed as improving creativity and to finish it off with a very, very creative 140 character tweet from Smart Car Argentina: here it is. Most importantly of all from today, we have some Twitter branded goods for the Battenhall office. Win all round.
We help build brand engagement, protect reputations and devise cutting edge campaigns that matter in our modern times. We eat, sleep and breathe innovation, and we are here to disrupt the old agency model.
From the blog
- Global Social Network and Messaging App user numbers: December 2014 December 19, 2014
- Battenhall’s 2014 in review December 18, 2014
- Just how super is SUPER? December 15, 2014
- Who are these 300m people on Insta? Instagram overtakes Twitter and launches verified accounts December 11, 2014
- New UK laws unveiled to criminalise social media trolling December 4, 2014
- The Influence of Social Media in Modern Politics in the UK December 1, 2014
- YouTubers: brand endorsement crack down by ASA November 26, 2014
- The social media food porn effect November 24, 2014
- Battenhall’s social data insights in today’s Guardian November 22, 2014
- New Social Network ‘This’ launches November 21, 2014
- Changes are afoot at Facebook… again! November 21, 2014
- Future social media trends in healthcare: #AHCM2014 keynote November 20, 2014
- Apple users like grilled halloumi and exercising, while Google users spend 50+ hours online a week November 19, 2014
- Kardashian vs Comet: Did Kim’s bum break the internet? November 14, 2014
- 2014 Christmas adverts, on social media November 12, 2014
- December 2014 (6)
- November 2014 (10)
- October 2014 (4)
- September 2014 (10)
- August 2014 (10)
- July 2014 (11)
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- September 2013 (11)
- August 2013 (5)
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- March 2013 (9)

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Six reasons why it’s still the best time to sell your propertyAugust 25, 2021
There is a lot of talk about the current market for luxury properties. We can confirm, right now, sellers are in the best position to capitalize on buyer interest.
Those still on the fence about selling need only look at the numbers to make their decision.
It’s a seller’s market
Home prices are increasing:
The statewide median sales price for single-family existing homes went up 14.4% from the previous year.
Homes aren’t sitting, they are selling:
At the end of 2020, closed sales of single-family homes statewide were up 21% year-over-year while existing condo-townhouse sales were up 27.7% over
Favorable interest rates:
The interest rate for a 30-year fixed-rate mortgage averaged 2.68% in December 2020, significantly lower than the 3.72% average during the same month a year earlier, according to Freddie Mac.
Fewer days on market:
Nationwide, the average days on the market dropped by 11% compared to December 2019. The nationwide average is 76 days, and even lower in South Florida.
As of December 2020, there was only a 1.8-month supply of single-family existing homes in Florida. For condos and townhouses, there was a 4.2-month supply.
Across the country in December 2020, home showings were up 63.5% over the prior year. In the South, the number was even more impressive, with showings
The bottom line
You want to be sure your selling strategy is in tune with today’s developments, not yesterday’s headlines.
We can help you confidently navigate all of the specifics, from correct listing price to final closing details.
Reach out to us today to get started.


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Continental Tire the Americas Inc., the US subsidiary of Continental Tire and BBS of America Inc. won the top honors in the tire and wheel categories for the development of new products, and won New Products Showcase awards at the 2015 edition of the Specialty Equipment Market Association (SEMA) Show, which is currently being held in Las Vegas.
Continental won the award for its Continental ExtremeContact DWS06 all-season performance tire which was judged as the best new product in the tires category. When it came to wheels and related products, BBS won the award for its BBS 2 PC Motorsport Tuner Wheel.
The awards are given on an annual basis to the products that are considered to be the most innovative and cutting-edge automotive aftermarket products scheduled to hit the retail market in 2016, SEMA said. The show received entries from almost 3,000 products for consideration in the 16 different Showcase categories. An expert panel of judges selected the winners based on numerous criteria like marketability, degree of innovation, quality, consumer appeal, technology etc.
The runners-up in the tires category were two BFGoodrich-brand tires from Michelin North America Inc. — the BFG All-Terrain T/A KO2 / 34×10.50R17LT and BFG g-Force COMP-2 A/S / 235/50ZR18.
The runners-up in the wheels category were Bartec USA L.L.C.’s Tech400 Pro advanced TPMS scan tool and the Pro Comp / Smittybilt / Rubicon Express / G2 Axle & Gear / LRG Rims / Poison Spyder – Procomp 44 Series — Syndrome from ProComp USA. This product also was the winner in the Off-Road/4-Wheel Drive Product category.
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© 2017 Morjan Media LLC. All Rights Reserved.


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With summer now here and the racing season in full-swing, Chevrolet is introducing to North America the 2022 Corvette Stingray IMSA GTLM Championship Edition.
Chevrolet announced it will release 1,000 of these Corvettes in the U.S. and Canada. These limited-edition vehicles are made to resemble the No. 3 and No. 4 Corvette C8.R racecars, and made to commemorate the mid-engine Corvette C8.R’s inaugural season. In 2020, Corvette Racing swept IMSA’s sports car championship series, taking the Manufacturers, Drivers and Team titles.
“Racing has been part of the Corvette’s DNA from nearly the beginning,” said Laura Klauser, general motors sports car program manager in a release accompanying the announcement of the 2022 Corvette Stingray IMSA GTLM Championship Edition. “Both the Corvette Stingray and C8.R have seen tremendous success capitalizing on the benefits of a mid-engine platform – and we’re just getting started.”
The 2022 Corvette Stingray IMSA GTLM Championship Edition is optional on the 3LT trim with the available Z51 Performance Package. As an added bonus, each car will come with Corvette Racing-themed graphics packages.
In addition to the IMSA GTLM Championship Edition, the 2022 Corvette Stingray lineup sports three new exterior colours from which lucky owners can decide upon: Hypersonic Gray, Caffeine, and Amplify Orange Tintcoat.
Corvette Stingray’s LT2 6.2-litre V8 engine has a direct injection fuel system, improved engine calibration and an enhanced Active Fuel Management system, and pumps out an incredible 490 horsepower. The mid-engine Corvette Stingray is offered in coupe and convertible models in 1LT, 2LT and 3LT trims, with the Z51 Performance Package available on all trims.
Dealers can begin to take orders starting July 1.
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So, hey, remember earlier this week when Olive Garden launched a mysterious countdown clock on their website without telling us what it meant or why it was there? Well, now we know what it was all about: The clock was counting down to the moment Olive Garden revealed they have 10 more Annual Pasta Passes to give away to the Italian chain’s adoring public. That's quite the reveal, given that the Annual Pasta Passes fo 2018 sold out in record time. There’s a catch, though: You have to be one of the first 10 people to solve an online scavenger hunt to score one of these coveted prizes. Truly, there is no such thing as a free lunch.
Olive Garden first launched the Never Ending Pasta Pass in 2014. At the time, just 1,000 passes were released; for the… well, either low, low or not-so-low at all price of $100, depending which way you look at it, you could grab a card that granted you the benefit of receiving unlimited pasta, salad, breadsticks, and soft drinks from Olive Garden for seven full weeks. The funny thing is that, according to TIME, the Never Ending Pasta Pass was originally just a stunt meant to draw attention to the return of the Never Ending Pasta Bowl menu — and yet, it proved to be so popular that it has since become A Thing all its own. That first year, all 1,000 passes sold out in an hour and 15 minutes; in later years, however, the passes began selling out in literal seconds, despite being offered in increasingly greater numbers.
On Aug. 23, 2018, Olive Garden released 23,000 Never Ending Pasta Passes for $100 each; as in previous years, these passes are good for “unlimited servings of pastas, sauces, and toppings from our Never Ending Pasta Bowl menu, plus unlimited soup or salad and breadsticks” for a multi-week period (this time, it's eight weeks; the dates are Sept. 24 to Nov. 18, 2018, dine-in only). However, they also added something new to the mix: The Annual Pasta Pass, which grant you the same benefits as the Never Ending Pasta Pass — but for much longer: 52 weeks, beginning Sept. 24, 2018 and running until Sept. 22, 2019. Many fewer of these passes were released, however — just 1,000 — and they were $300 apiece, rather than $100.
Naturally, the Annual Pasta Passes sold out in less than a single second. Because of course they did.
But hey, guess what? You’ve got one more chance to get your hands on an Annual Pasta Pass now, thanks to that seemingly random countdown clock Olive Garden launched a few days ago.
On Monday, this mysterious tweet appeared on the Garden’s Twitter feed:
When clicked, the link brought you to a page featuring the phrase, “IF YOU THOUGHT UNLIMITED BREADSTICKS WERE BIG...” and the aforementioned clock; the timer, it seemed, was counting down to noon ET on Wednesday.
Folks had a lot of ideas about what it might mean; could this be in our future?
Or perhaps this?
Nope. Not that, thankfully. (Although, as IHOP later pointed out, despite the backlash against the “IHOB” stunt, it did its job: Everyone does, in fact, now know that IHOP serves burgers. And burger sales actually quadrupled as a result of the promo, according to Ad Week.)
What about this, though?
This guess, in fact, turned out to be closest to the truth. On Wednesday at noon, the countdown hit zero and Olive Garden made their big announcement: In honor of the fifth anniversary of the Pasta Pass and the massive interest in the brand-new Annual Pasta Pass, the restaurant chain has magicked up 10 more Annual Pasta Passes to give out to those who prove their mettle in a test of wits. A scavenger hunt launched alongside the announcement — and if you’re among the first 10 people to solve it, one of those newly available Annual Pasta Passes will be yours.
Do you have what it takes to win?
Head here to get started and find out. May the pasta odds be ever in your favor.


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As we prepare for the “new normal” after the Covid-19 pandemic, companies have an opportunity to — and in some cases, have been forced to — rethink their digital strategies. It is time to ask the question: Should Indonesia push ahead with its digitalisation efforts or is it time to reconsider the path we take?
We think the former – Indonesia should continue to innovate and adopt more technology to become more digital. However, it should not only be a matter of more adoption of technology, but also better implementation of digital innovations. Companies looking at the Indonesian market should be aware of the digitalisation trends that have already taken place in the market, potential areas for more digital innovations, and pitfalls to avoid when exploring these areas.
The period leading up to the onset of Covid-19 saw a number of Indonesian sectors embrace digitalisation, as we observed in our articles on the rise of Indonesia’s super apps and digitalisation trends in Indonesia’s financial services sector. According to one report, Indonesia’s digital economy grew 49% year-on-year between 2015 and 2019, and is poised to become the largest in South East Asia as its value increases from US$40 billion in 2019 to US$133 billion in 2025 (“e-Conomy Southeast Asia 2019” by Google and Temasek). The Covid-19 pandemic has pushed companies and regulators across a number of sectors, including healthcare and financial services, to up their digitalisation game even more, further accelerating the adoption of digital tools and initiatives.
As is the case in other countries that have gone down a similar path, the increased reliance on technology and the migration of more activities from offline to online have exposed a number of shortcomings, such as data leakage incidents and proliferation of fake news. This is unsurprising given the speed at which some of the digitalisation efforts have been implemented.
There is no question that Indonesia should push ahead with digitalisation as initiatives implemented to date have brought many benefits to the people, with many more to reap by pushing the innovation boundaries even further. It should not, however, only be a matter of more adoption of technology, but also better implementation of digital innovations as companies should strive to address shortcomings that have come to light. Each can play a part in creating a more responsible digital ecosystem.
In this briefing, we look at the benefits of Indonesia's digitalisation efforts, some of the challenges faced, and next steps.
Where we are: The benefits of Indonesia’s digitalisation efforts
Support from regulators
It is difficult to engage in a discussion about digitalisation in the Indonesian context without getting into the topic of financial inclusion. Indonesia’s central bank (Bank Indonesia) and Financial Services Authority ( Otoritas Jasa Keuangan or OJK) are acutely aware of the importance of technology in the financial services sector, and have issued a number of regulations to promote digitalisation, covering peer-to-peer lending (P2P), digital banking, regulatory sandboxes, and payment gateways to facilitate online payments. They have been particularly supportive of initiatives that give more Indonesians access to financial services.
Access to financial systems and mobile penetration
As at 2016, only about 36% of Indonesia’s population was connected to formal financial institutions, leaving an estimated 110 million “unbanked” citizens (source: PWC and Indonesian Fintech Association).
A more recent study, carried out in 2018-2019, estimated that 49% of the adult Indonesian population was connected to formal financial institutions, comprising 23% “banked” and 26% “underbanked” (Bain & Company, Google and Temasek, “The Future of Southeast Asia’s Digital Financial Services”).
Interestingly, 64.8% of Indonesia’s total population were already connected to the internet in 2018, and a typical Indonesian spent 8 hours 36 minutes online every day in 2019, making leveraging technology to provide Indonesians with better access to financial services a promising proposition.
Digital platforms for lending, payment, and investment
A number of digital offerings have been launched in Indonesia’s financial services sector in the past few years. Indonesians can now obtain loans from their peers through P2P platforms to pay for purchases on e-commerce platforms. They can also apply for electronic money and wallet accounts to make payments at both online and offline stores, as well as to pay toll road tariffs. Investment accounts have also become more accessible now that some digital platforms allow Indonesians to invest in mutual funds and digital gold with minimum investments of less than a dollar. The digital innovations by new market entrants have also encouraged traditional financial institutions such as banks and insurance companies to move to digital processes for client on-boarding and certain other services, benefitting their customers.
Remote working, studying, and connecting
Super apps for daily activities
The Covid-19 pandemic has, to a certain extent, highlighted the benefits of having digital platforms that allow us to perform many of our activities remotely. It has enabled us to work and study comfortably and, to a large extent, seamlessly from home. Some of these digital platforms are referred to as “super apps” – platforms with multiple functions that allow users to perform a range of tasks, from ordering a motorbike taxi (ojek) or food and drinks, to purchasing mutual fund units online or at offline stores. Given the large-scale social restrictions and discouragement of cash payments, the meal delivery and cashless payment features of these super apps have seen increased volumes of transactions during the Covid-19 pandemic.
Remote working, studying, and socialising
There are also digital platforms that enable Indonesians to work, study, and socialise from home, such as home-grown edutech platforms Ruangguru and Zenius, and globally recognised platforms such as Zoom, Teams, and Skype. The experience using these platforms to work from home has demonstrated that, with the right digital tools and a reliable internet connection, employees can now work effectively from home. That is not a small feat for a country where face-to-face meetings have traditionally been the norm. If the trend continues during the new normal and beyond, companies will be able to increase productivity by reducing travel time in highly congested Jakarta and by operating with smaller office spaces as employees continue to work remotely. In the longer term, it may even help reduce population density as employees have more flexibility in choosing where they work from.
Adoption of remote working by regulators
The increased adoption of digital tools for remote working is not only a trend in the private sector. Government agencies and regulators have also adapted, issuing regulations that allow certain regulator activities to be carried out virtually. For example, in the financial services sector, OJK can now conduct fit-and-proper tests and consultations remotely, by teleconference or video conference.
Regulatory changes allowing remote meetings and signings
The OJK division in charge of capital markets has issued regulations allowing Indonesian public listed companies to hold electronic general meetings of shareholders. Another OJK division, which supervises insurance companies, has, in certain circumstances and subject to satisfaction of the prescribed safeguards, allowed in-person meetings and wet signatures to be replaced by video conferences and electronic signatures during the pandemic.
Retail – wider consumer reach, lower overheads and start-up costs
The rise of online commerce and marketplaces
Digitalisation has transformed the retail sector in Indonesia, with the rise of online commerce and marketplace platforms. According to Bank Indonesia statistics, e-commerce transactions in Indonesia totalled US$5.6 billion in 2016. By 2019, their value had reached US$13.6 billion, and was expected to reach US$21 billion by the end of 2020.
Online commerce has enabled retailers to reach more consumers, including those in remote areas, benefitting Indonesians without access to shopping malls or large brick-and-mortar shops. As a result, retailers can reduce their numbers of physical stores, lowering start-up costs. This trend has also enabled more Indonesians to become online retailers through platforms such as Tokopedia, Shopee and Lazada, and even to sell products on social platforms such as Instagram, WhatsApp and Facebook.
The increasing importance of an online retail presence has become more evident during the pandemic, as brick-and-mortar stores have had to suspend their store operations temporarily and rely on their online stores to sustain their business. For more on the trends and issues facing retail brands today, please see our article here.
The Indonesian government is acutely aware of these developments, and has issued several regulations to more closely regulate online retail transactions and the revenues generated through such activities by both offshore and onshore players. They include Government Regulation No. 80 of 2019 on Trading through Electronic Systems, which sets out a regulatory framework for online commerce transactions, Minister of Trade Regulation No. 50 of 2020, and digital tax regulations that require certain offshore digital platforms with an Indonesian customer base to pay VAT.
Brands opening “official stores”
As e-commerce and marketplace platforms continue to gain popularity in Indonesia, various brands (including those with their own retail websites) have started to open “official stores” on such platforms. This also helps to reduce the risk of having counterfeit products sold online as consumers are more likely to make purchases from official stores rather than from other online merchants.
Direct to consumer business model
A few trends have emerged. First, more brands, from big to small, are moving to a direct-to-consumer (D2C) business model in order to increase their margins, develop more personal relationships with their consumers, and acquire more data about their consumers’ spending patterns and preferences. Second, brands must ensure that they have online store managers ready to respond to customer queries, often using shifts to ensure that queries can be handled 24/7. Some brands have even introduced separate managers for each of their sales channels – WhatsApp, LINE, Instagram, and marketplace platforms.
Growth of supporting players – e-commerce enablers, logistics and postal delivery companies
Third, new opportunities have been created for “e-commerce enablers”, which can assist brands in managing their online stores where they lack the capacity or desire to do this in-house. Fourth, increasing transaction volumes on e-commerce and marketplace platforms have spurred the growth of logistics and postal delivery businesses. This has also highlighted the importance of developing the country’s infrastructure so that more Indonesians outside Jakarta or the island of Java can obtain equal access to goods.
Improved data analytics capability and predictive accuracy
At a more general level, the use of digital tools has enabled companies to consider alternative sources of data, and to improve their data analytics capabilities, to enhance the data’s predictive accuracy.
Big data for credit scoring
One example is the use of big data for credit scoring by banks and P2P platforms. Through the use of data analytics platforms, they are better able to assess potential borrowers’ creditworthiness by collecting and analysing data from sources which were until recently considered unconventional, such as e-commerce and marketplace platforms and telecommunication service providers. This also helps to reduce false negatives for credit card applications, among other things. The availability of these alternative data sources also promotes financial inclusion, since Indonesians with no prior access to financial systems can now obtain loans from banks or through P2P platforms where they give consent for the use of alternative data for credit scoring purposes.
Artificial intelligence in the legal sector
In the legal sector, document review software using artificial intelligence is also starting to be deployed in Indonesia. This software can assist in large due diligence projects, allowing lawyers to focus on higher value work.
Information democratisation and job creation
Democratisation of information
With the increasing use of digital platforms, it has become much easier to disseminate information to other people. Although there are some downsides (discussed below), this development offers several benefits. For one thing, with more access to information, the public can push the government and regulators to increase information transparency, such as on healthcare data during the pandemic.
As information becomes more readily available, this also makes it easier to cross check claims using credible sources.
The digital economy has also helped to create jobs in Indonesia. Online retail and marketplace platforms have made it easier for individuals to become merchants. Some platforms even allow a “dropship” business model, where a middleman can purchase goods from a seller and have the seller deliver the goods directly to the buyer on their behalf, which some may liken to online retail arbitrage.
New types of jobs are also being created as people become “influencers” or “content creators”. These roles have emerged with reduced emphasis on mainstream media and large-scale advertising, allowing previously untapped segments of the Indonesian population to generate income and leading to more opportunities for creative people.
We now look at some of the potential pitfalls that companies should keep in mind and try to address as they develop their tools and strategies.
Over-reliance on technology
It may appear counter-intuitive, but as more processes are automated, we must ensure that there is a person responsible for and overseeing the decisions being made by the machines to which we delegate these tasks.
Financial services and fintech
As another example, several P2P platforms in Indonesia have implemented automated processes for their operations, from client on-boarding to allocation of funds and collection of repayments. In some cases, the use of automated machines to attempt to collect overdue payments from borrowers and answer customer queries without proper supervision or necessary intervention by people can lead to frustrated customers. It is encouraging to hear that OJK and Indonesia’s fintech industry association, Asosiasi Fintech Pendanaan Bersama Indonesia (AFPI), are now looking at introducing safeguards to ensure human representatives are available to respond to customer queries and complaints.
The importance customers place on human interaction is also evident in the retail sector. As mentioned above, brands in Indonesia are aware of the importance of having managers for their online sales channels ready to respond to customer queries. The emergence of social commerce as a subset of e-commerce is also supported by some customers’ preference to maintain interaction with human agents when making online purchases.
Importance of customers’ informed consent
Data protection and customer consent
As more activities are taking place in the virtual world, more electronic data is being generated. Many observers and regulators have noted that in today’s digital world, data is the new oil. Companies are competing to access as much data as possible in order to predict customers’ behaviour and generate more sales. It is critical, therefore, to ensure that customers are made aware of the types of data being collected, and how each type may be used in delivering goods and services to them.
Regulators around the world, including in Indonesia, have put in place some form of data protection frameworks. Although these frameworks vary in their sophistication and comprehensiveness from one country to another, most require customers’ consent for the collection and use of their data.
The need to revolutionise procurement of consent
While it can be argued that these customers have chosen not to take up the opportunity to inform themselves on how their data will be used, some observers have commented that the way most privacy policies are written and presented is not very user friendly, not to mention the amount of time required to read the policy. According to an old study , an average customer would require more than 76 working days to read all the privacy policies they encounter in one year. The estimate is likely to be higher now as users install more apps on their phones and visit more websites.
Given the many innovations introduced to digitalise various aspects of our lives, simplifying the way in which privacy policies are presented to make sure customers are properly informed would be both reasonable and a welcome development.
Cybersecurity and resilient digital infrastructures
Closely related to the importance of a data protection framework is the need to have appropriate digital infrastructures in place to ensure the security of electronic systems and data. There have been several major global data breaches, and Indonesia’s online platforms are not immune to them.
In Indonesia, this area can be improved through various means, including public education, a more active cybersecurity agency, and a more comprehensive regulatory framework. If taken together, these initiatives should lead to more investment by companies in ensuring that their digital infrastructures are resilient to cyber threats.
Avoid industry fragmentation and over-dependency
Balancing the merits of competition and standardisation
As in other highly skilled professions, few companies may have the capability to offer certain types of technology. While cultivating competition tends to result in a higher quality of goods and services being provided to customers at lower prices, it is important to balance this against the need for companies to standardise their systems and collaborate in order to avoid over-fragmentation of the industry and over-dependence on one provider.
Payment system standardisation through QRIS
One example where a regulator has encouraged industry players to standardise and collaborate is the implementation of the QR Code Indonesian Standards (QRIS) by Bank Indonesia in early 2020. QRIS enables one QR code to be used to accept payments using different e-money instruments. Prior to the implementation of QRIS, it was common for each merchant to have multiple QR codes – one for each e-money issuer. Bank Indonesia decided to implement QRIS to encourage interoperability between the various e-money issuers’ systems, promote efficiency, and prevent fragmentation in the electronic payment sector.
Address risk of fake news and echo chambers
As alluded to above, there are both upsides and downsides to democratisation of information. As it becomes easier to disseminate information, unfortunately fake news and hoaxes are becoming more common. It is also a human tendency to interact more with people with similar views, potentially leading to echo chambers where misinformation can be amplified.
Government response and public education
The Indonesian government has sought to address this challenge in several ways, ranging from creating official channels to counter fake news to blocking certain social media or communication platforms during certain critical periods. This issue is unlikely to go away, and digital platforms in Indonesia will need to play their part, including by educating their users. Guidelines that govern less formal forms of advertising carried out by “influencers” and “content creators” will help consumers to understand the nature of online content presented to them, and will also introduce a level playing field for all “influencers” and “content creators”. Such guidelines are already in place in other markets, including in the UK.
Where to from here?
There have been many digital advances across a range of sectors in Indonesia. Despite the challenges that need to be addressed and overcome, now is certainly not the time for Indonesia to stop its digitalisation journey. Nevertheless, certain areas would certainly benefit from adopting more advanced technology, and more responsible implementation. We set out below a few examples.
Virtual and open banking
As discussed above, Indonesian banks are increasingly offering their customers digital products. They have also digitalised some processes, including Know Your Customer (KYC) checks and purchases of investment instruments. However, we do not yet have any regulations allowing the setting up of fully virtual banks without a brick-and-mortar presence, unlike the UK, Hong Kong, and Singapore. Such regulations would allow the banking sector to develop further, and could support the Indonesian government and regulators’ financial inclusion agenda.
In its 2025 Indonesia Payment System Blueprint, Bank Indonesia identified open banking as one of five key initiatives. If the European Union’s experience is anything to go by, the opening up of banking data through standardisation of open API (Application Programming Interface) as envisaged by Bank Indonesia is likely to create more opportunities for technology companies, including fintech players. Indeed, Indonesia’s journey towards open banking has already begun, with the adoption of artificial intelligence to engage with customers. One such example is providing customer service through WhatsApp, attended by digital assistants.
As the boundaries of digital innovation are pushed in the pursuit of virtual and open banking, market players and regulators need to keep in mind the pitfalls identified above.
In late August 2020, OJK published its Digital Finance Innovation Roadmap and Action Plan 2020-2024, which emphasises the importance of encouraging innovation while also maintaining adequate operational resilience standards for the fintech industry.
Digital insurance distribution channels
Another subset of Indonesia’s financial services sector that would benefit from more digitalisation and a clearer regulatory framework in which players can operate is the insurance industry.
We understand that OJK is now considering a specific regulation on insurtech. In the meantime, insurance companies have been entering into partnerships to distribute their products using online channels, including with Indonesian tech unicorns. This is not surprising, given the much lower cost of distributing insurance products online compared with using physical branches and offices, which insurance companies had been doing in partnership with traditional channels such as banks prior to the emergence of insurtech.
This market segment is now particularly interesting, as market players innovate while navigating regulations aimed at more traditional distribution channels. It would surely benefit from a clearer regulatory framework that supports the wider adoption of digitalisation. For instance, while OJK has issued a circular letter allowing insurance companies to replace physical face-to-face meetings with recorded video calls to sell unit link products, and to use electronic signatures to execute certain policy-related documents, these measures are only interim, being intended to allow insurance companies to adjust their operations during the current pandemic. It would be helpful if these measures were made permanent, as this would encourage market players to invest more into the digitalisation of insurance distribution.
Provision of healthcare services through digital platforms
Like insurtech, market players in the health-tech sector are innovating while navigating regulations that support healthcare services through “traditional” channels, i.e. brick-and-mortar hospitals and clinics. Covid-19 has led to the issuance of some regulations that permit the supply of prescription drugs through online platforms, and that clarify the permitted scope of online consultations by doctors using health-tech platforms. Again, these regulations are also only temporary in nature, as a response to the pandemic. Once the pandemic status is lifted, the regulatory framework for health-tech will likely become less clear once again.
Regulatory support for Indonesia’s health-tech sector has the potential to benefit the entire population by providing fairer access to quality health services for citizens across this vast archipelago. We are optimistic that the government and regulators will soon develop the necessary regulatory and policy frameworks to encourage market players to innovate.
For more information on health tech in Indonesia, please see our separate briefing here .
Autonomous vehicles and smart cities
There have been plans to deploy autonomous vehicles and create smart cities in Indonesia. In the case of autonomous vehicles, the vehicles need to communicate with one another in order to exchange information about the roads and surroundings. To make this possible, vehicle manufacturers must ensure that their various systems can communicate with one another.
As these plans are being devised and implemented, it is helpful to keep in mind the potential pitfalls highlighted above, including the need to avoid industry fragmentation and over-dependency on one provider. in the case of smart cities, while engaging one company to provide all the technology used in a smart city may create efficiencies, it may also lead to over-dependency, especially if the company’s systems are not easily replaced by or integrated with those of another technology provider.
* * *
Needless to say, there are many other digitalisation opportunities that Indonesia can seize. They include the use of big data, more automated processes in mining and manufacturing, and introduction of augmented reality technology in both online and offline retail stores. While some of these opportunities have already been explored, they have not reached wide-scale implementation. Digitalisation opportunities can be a huge boon to the Indonesian economy, but must be explored carefully and implemented wisely, taking into account some of the principles and issues that we have identified here.


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July 22, 2013,
Politically it will be very hard to accomplish. Chamber of Commerce, want the cheap labor. The only way we can implement a pause is by citizen pressure on Congress at their recess town meetings. The true nature of Syriza has been seldom examined and explained. To the foreign media it is no more than “leftist” or “far left” or “hardline” the usual misleading spray. Some of Syriza’s international supporters have reached, at times, levels of cheer leading reminiscent of the rise of Barack Obama.
January 3, 1928 May 6, 2017 Jack’s blessed life embodies the promise and wholesale jerseys opportunity in twentieth century California. His parents, Albert and Alice Cheap married at St. Vibiana’s Cathedral in 1906 and settled in the St. You like furniture, on Black Friday this is the place to come, Magnuson said. That day. Probably won keep many shoppers from braving the Black Friday throngs, but would be customers looking to get a head start on the actual holiday of Thanksgiving might have to wait, depending on where they want to shop.
In 2013, they stood at $3.70. A year ago, they were in a similar range, close to $4 per gallon. This year, as the first winter snowflakes fell in the Fairbanks area, the cost of delivered heating oil was $2.47 a decrease of almost 40 percent since a year ago..
Summer apparel will be heavily discounted during July 4th sales, according to Glaser. However, it could be worth your while to wholesale nfl jerseys wait until August or September for sunglasses when the discounts get even better. Near the end of summer is when retail stores clearance out the majority of their wholesale nfl jerseys seasonal gear, so you find the biggest discounts on everything from to sandals.
Reading articles, educating myself. Perhaps that phase of my life is. Well, it’s not complete, but perhaps it’s just time to change the medium?. One interesting aspect of Luiz’s role is that he has hardlybeen the marauding central defender we remember, even in a formation that would allow him that licence. He has completed just seven dribbles in the league all season. Nor too is he wholesale china jerseys the passing central defender in Chelsea’s team he has completed almost 500 fewer than Azpilicueta and more than 300 fewer than Cahill.
Lentil stew (shared by Maria) is described as “2 C lentils, 1 big can diced tomatoes, 3/4 of a stick of butter, 1 chopped onion, 1 clove garlic (minced), and 1 Tbsp dried dill. cheap jerseys Put it all in a big pot, add some water and then bring to a boil. Lower the heat and cover and let it simmer for about 45 minutes, stirring to make sure the lentils aren’t too dry.


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Great news to those of you looking forward to the HTC Radar 4G arriving on T-Mobile’s network; the carrier has just announced today on its official Facebook page that the phone will be available in stores next week. The HTC Radar 4G is one of the first few second-generation Windows Phone 7 devices, and will feature a 1GHz Snapdragon processor, a 3.8″ (800 x 480) display, Windows Phone 7.5 (Mango), HSPA+ connectivity, a 5-megapixel rear camera, a VGA front facing camera, and 512MB of RAM.
The phone will cost $99.99 after a $50 mail-in rebate with a 2-year contract on T-Mobile, and will go on sale next Wednesday, November 2nd. Anybody planning on picking it up this phone then? Find out more on the official T-Mobile website.
- 2011-12-29: Nokia Lumia 710 appears on T-Mobile's page with SmartStart
- 2011-12-23: HTC Radar gets two toned look
- 2011-12-08: Nokia and T-Mobile event on December 14th
- 2011-11-07: Microsoft lowers Windows Phone hardware requirements
- 2011-10-24: HTC Radar 4G arrives next week
- 2011-09-27: HTC Radar 4G officially announced by T-Mobile
- 2011-09-22: HTC working on integration Beats Audio into their Windows Phone devices
- 2011-09-22: HTC Radar 4G headed for T-Mobile, seen in the wild
- 2011-09-07: HTC Titan and HTC Radar to be released on October 15th in the UK


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Sainsbury’s is trying to grab early Christmas BWS sales with an offer of 25% off a purchase of six or more bottles of wine, include Champagne and sparkling.
Oddbins is preparing to trial a small store format under the name Oddies, according to reports.
Fuller’s has launched a poster campaign for its London Pride ale, featuring Top Gear presenter James May, who has recently become its brand ambassador.
The Government has said it will increase the tax on high-strength beer and cut duty on lower abv beer from late 2011.
Evertons Wines, the Worcestershire wholesaler and online retailer, has opened a wine shop.
Plastic bottles used by the soft drinks industry are creating unnecessary environmental problems, according to a report commissioned by Sodastream.
The Association of Convenience Stores has joined the chorus of voices expressing concern about locally-implemented minimum price schemes for alcohol.
John Smith’s has extended its horse racing sponsorship to the Wetherby and Sedgefield courses in 2011.
Pernod Ricard is running its first TV ad with a responsible drinking message in the UK.
The government is ready to announce a ban on sales of below-cost alcohol, based on the combined price of VAT and duty, according to reports.
UBUK is running a two-for-one dining on-pack promotion to support its Phileas Fogg snacks range.
Members of the public are being encouraged to flag up irresponsible alcohol products or inappropriate marketing.
Specialist beer retailer Beers of Europe is working on plans to add a microbrewery at its base at Setchey in Norfolk.
The government has confirmed it is considering forcing tobacco manufacturers to bring in plain packaging for their products.
Customs officers have seized more than 300 litres of illicit alcohol, 7,800 cigarettes and 6.3kg of tobacco in raids on four shops in two areas of Nottingham.
Wine agency Copestick Murray has said it is focusing on independent retailers “more than ever before”.
Sainsbury’s has appointed Lucy Clements as its new winemaker.
The Scottish Parliament has finally rejected minimum unit pricing for alcohol but has accepted a ban on multibuys, which will effectively outlaw three-for- £10 deals and BOGOFs.
A former IT man has opened a beer shop in Cheltenham.
Wine drinkers are not happy with the service they receive from supermarkets, according to research carried out by a consumer website.
Next May will be National Wine Month – an initiative which aims to unite the trade in a drive to boost consumer communications.
Supermarket beer discounts cost retailers £16 million in lost sales in the summer, according to Nielsen.
Majestic has increased its share of the UK wine market despite the recession and intense supermarket competition.
Morrisons is testing a new-look drinks section at a superstore in York.
Off Licence News is moving home after being licensed to publisher Agile Media.
MPs have been told that an “unholy price war” has broken out in the spirits aisles.
A leading health chief championing minimum pricing in Greater Manchester has spoken of plans to help roll out the controversial measure nationally.
The sparkling wine market is worth £669 million, up 9% from last year, OLN has revealed in its first Sparkling Wine Report.
Asda has signed a deal with Broadland Wineries to build its own bottling plant as part of a radical overhaul of its wine supply.
The price of a bottle of wine has gone up just 85p in the past 10 years, according to Nielsen, with New World countries seeing increases as low as 6p.
For more information about recruitment advertising online or within Drinks Retailing News magazine please contact:
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European Bioplastics (EUBP) successfully kicked-off the new event series “EUBP Talk”, which aims to provide greater insights into the latest developments in the bioplastics industry and into relevant EU policy initiatives by bringing together policy makers, R&D experts, and industry leaders to talk about how bioplastics can contribute to tackling some of the major challenges of our times.
The first event entitled “How major players pave the way for a growing industry” took place virtually on 9 March 2022 and was moderated by Tim Sykes from our cooperation partner Packaging Europe. It brought together bioplastics producers as well as other actors involved in establishing harmonized and integrated recycling infrastructures for the future. The presentations and a following panel discussion were preceded by a comprehensive overview on the latest market data of the bioplastics industry. EUBP’s Managing Director Hasso von Pogrell shared insights on the data including the main drivers of growth. The three company representatives Josie Adams from Avon Products Inc., Carolina Gregorio from Dow Chemical Company, and Robert Mack from Kimberly-Clark Europe translated the data into practice by talking about their companies’ sustainability efforts to achieve a circular economy.
In his presentation, Mr. von Pogrell gave an overview on the development of the bioplastics industry within the next five years. The global production capacity for bioplastics is set to increase significantly from around 2.4 million tonnes in 2021 to 7.5 million tonnes in 2026. Biodegradable PBAT (polybutylene adipate terephthalate), the production of which will almost quadruple, but also PBS (polybutylene succinate) and bio-based PAs (polyamides) are the main drivers of this impressive growth. Packaging remains the largest field of application for bioplastics with almost 48 percent (1.2 million tonnes) of the total bioplastics market in 2021. However, the data presented by Pogrell also confirms that bioplastics materials are already being used in many other sectors, and the portfolio of application continues to diversify. He also explained that the shift of bioplastic production from Europe towards Asia continues with around 24 percent of production located in Europe and almost 50 percent located in Asia. “Obviously, the EU policies need to produce some incentives to produce more in Europe”, emphasized the Managing Director of EUPB.
Josie Adams shared very interesting insights on Avon’s perspectives on the potential for bioplastics for sustainable cosmetics, fragrances, and toiletries in the packaging sector. The company assessed that, even with a 100 percent circular packaging, only a 25 percent reduction of the carbon footprint could be achieved. Thus, bioplastics could play an important role in the company’s sustainability goals, including becoming a net zero company by 2030. Avon is particularly interested in PHAs (polyhydroxyalkanoates) that are developed from waste materials especially from waste methane. The company expects price and performance parity to conventional polypropylene (PP) in a reasonable period. However, this would depend on the achievement of a PHA production at scale.
Carolina Gregorio explained that also for Dow Chemical’s global operations bio-based feedstocks are becoming a reality as bio-based plastics help to move plastics closer towards circularity. In this context, she also gave an overview on the European Union’s strategy to fight climate change and plastic waste where she sees a clear role for bioplastics. In the course of her presentation, it became clear that also major companies, such as Dow, have recognized the benefits of bioplastics which come an increasingly important pilar in their business operations.
Robert Mack’s presentation perfectly complemented the previous inputs as he took a closer look from a policy perspective. Kimberly-Clark pays a lot of attention to the end-of-life of their products. By 2030, 75 percent of the material used for their single-use hygiene products has to be either biodegradable or recovered and recycled. Already by 2025, 100 percent of the company’s packaging has to be reusable, recyclable or compostable. They are convinced that biodegradable polymers facilitate a solution with the lowest lifecycle impacts that deliver a circular option. But in order to be able to make sufficient use of this solution, supporting policies from EU institutions are needed. There needs to be a broad recognition of biodegradable materials as they prevent and reduce waste, especially in consumer goods.
In the subsequent panel discussion, the speakers agreed on the importance of a clear framework for bioplastics. At the moment, policy dialogue would move too fast with too many policy processes in parallel which could shut down paths of innovation. It would be important to create more incentives for bioplastics in Europe, not only for R&D activities but also for production. Another important point that was picked up from the presentations was the question of scale. In this regard, it would be important that the recycling industry would open new recycling streams and wouldn’t reject new polymers as contaminants which they aren’t. The discussion was concluded by the claim to give bioplastics a chance to grow.
The second edition of the EUBP Talk is planned to take place in the second quarter or 2022. More information will follow soon.


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MSU economist provides food price outlook
October 4, 2022 By Filed Under: Food, Food Spending, Michigan, News
A food economist says a variety of factors are leading to the highest food prices in four decades.
David Ortega with Michigan State University tells Brownfield, “The rise in food prices at the grocery store has been about 10 percent for the last five months now and I expect food prices to remain elevated in the near term through the end of the year.”
He points to prolonged supply chain challenges, higher energy prices, and Russia’s invasion of Ukraine as leading inflationary challenges.
“Prices likely won’t go back to levels prior to the pandemic because there is a general increase in prices that happens through time, but that rate of increase will return to much more reasonable levels,” he estimates.
Ortega says historically high inputs and weather challenges are likely to impact food prices longer term.
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After hitting local lows of $43,000 in recent days, Monday is seeing a renaissance in momentum on Bitcoin markets, with even Bitcoin-skeptical Citibank flipping bullish on long-term prospects.
Bitcoin to hit $318K by December 2021: CitiBank managing director
The banker points out that ‘the whole existence of Bitcoin has been characterised by unthinkable rallies followed by painful corrections and suggested that another rally is coming’
In a note sent by Citibank to its institutional customers and leaked on a twitter, Fitzpatrick suggests that the price of Bitcoin will reach $318,000 by December 2021. He says: “Improbable though that seems it would only be a low to high rally of 102 times (the weakest rally so far in percentage terms) at a point where the arguments in favour of Bitcoin could be at their most persuasive ever.”
Facebook, Google want to be your banker
In separate announcements, Facebook unveiled a non-blockchain payments tool that could compete with Libra, and Google said it will offer consumer checking accounts
The tech giants that already know everything about you, and now they want to be your banker, too. What could possibly go wrong?
Facebook is joining Apple and Google in coming after Citibank and Chase
The social media giant’s Libra cryptocurrency is about a lot more than just payments
The tech giants are coming for the banks. If there’s one message to be taken out of Facebook’s aggressive push into blockchain-based payments via its new cryptocurrency, libra, it’s that Facebook is now also a FinTech company.


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Unger, a global manufacturer of litter picking tools, is looking for UK organisations to take part in a new case study, that we also plan to feature in the CIWM Journal next year.
As part of the company’s “War on Litter”™ campaign, Unger is keen to provide affordable, high quality tools to everyone fighting litter on the front line.
“We are looking for participants with responsibility for frequent litter picking, who we’d supply with selection of our products such as the Trigger Grip™ Litter Picker and the Waste Bagger, to test-drive over a course of several weeks and provide unbiased feedback on their performance”, says Hanna Maslova, Unger UK’s Marketing Manager.”Whether you represent a local authority, or a cleaning contractor, however big or small your team is, we want to hear from you”.
The case study is to take place early in 2014, with the results planned to be published in the Journal in the April 2014 issue. You must be able to commit to the full trial period and be happy to be contacted by the CIWM team regarding contributions to the case study material.
Register your interest by calling Unger on 01902 306633 or email on email@example.com.
You can find out more about the products and the “War on Litter”™ campaign at www.ungerstore.co.uk.


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US outfit Iovation, has launched a new service that detects online fraud using the unusual technique of logging the precise behaviour and history of client computers.
Instead of simply analysing generalised patterns of behaviour to look for rogue transactions, ieSnare’s DevicePrint system takes the technology a step further by uploading a piece of software to each computer and monitoring its hardware, software and network connection configuration.
Any actions carried out from this PC are then related, via a central database matching system in the ieSnare reputation service, to registered accounts. This approach makes is much harder for criminals to register multiple accounts – sometimes numbering in the thousands - from the same PC using stolen credit card details before extracting cash from the system by manipulating its weaknesses.
The issue is a major one for online businesses as they are held liable for credit card fraud carried out on their systems.
Iovation CEO Greg Pierson said the software had already been used on US gaming websites to stop a series of complex frauds involving large numbers of fake accounts laundering money through the game playing process. Fraudsters were able to exploit the open nature of the Internet to aid their scam.
“Before our system, connections were anonymous. They all looked the same as there was no history,” said Pierson. The ieSnare system would make it easy to spot such problems immediately. “It is not typical for a single device (PC) to set up 10 accounts.”
The service could be used by any online business in practice but was best used by larger enterprises which had users logging on regularly to carry out transactions.
He dismissed privacy concerns about software being loaded on to each PC to link to the device reputation service. This could be carried out as a software application or using ActiveX, but users would always need to be asked for their permission. It monitored only that data required to identify the PC itself.
Sold as a service, the cost of the service would depend on the number of customers of a particular company accessing it. He characterised that as fractions of a cent per user access.


text: Lineapelle 95th edition kicks off at Fieramilano Rho (25-27 September) after the closing, about a week ago, of the finished products fairs, namely Micam and Mipel. Likewise, some fashion events, such as TheOneMilano, White and Super, have just (24 hours ago) said goodbye to their visitors. Conversely, the fashion week bustling shows are still underway. “Premiere Vision looked a bit slow. We are confident that at Lineapelle we will meet more people – points out Alfonso Giannattasio from Effegi tannery, based in Solofra -. What are our expectations about this three-day event? Comforting messages. The market is currently facing a weird situation: 2018 is actually proving to be a positive year in the end. We were concerned about risky problems”. Likewise, some representatives of Tuscan tannery Arnella remark: “We expect, at Lineapelle, visitors to understand and accept our style and product offer. Our presenting half-calf leather is directed at leather goods and footwear”. According to the economic reports, set by Confindustria Moda, the first business sector is speeding up; in contrast, the second one is still facing some difficulties: “We may confirm that – say from Arnella -. However, we ourselves hardly understand why these two markets are running along such discrepant trends”. Let’s wait and see: “Lineapelle95 enables brands and suppliers to meet up – emphasizes an agent who does not want his name to be made public -: this is going to be the real test to understand the future of leather fashion”. Talking about the ongoing several fairs and fashion shows, the same agent knows that another date will influence the manufacturers’ attitude: “As soon as fashion shows are over, winter sales will start”.


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ALBUQUERQUE, N.M. — The first five ActivateNM startups will begin intensive mentoring, coaching and customer validation efforts to build their businesses during an eight-week accelerator program starting Oct. 15.
The ABQid business accelerator and the WESST Enterprise Center, which teamed up this year to create ActivateNM, announced the first program cohort last week. All participants have new software or software-enabled products and services, reflecting ABQid’s “themed” approach to training entrepreneurs by bringing together companies with a similar focus.
The cohort includes:
— CustomCult, a snowboard and ski maker with software connected to hardware that enables a turnkey approach to rapidly customize products.
— FruitStand Technology, a subscription-based web design, hosting and marketing firm with automation that lowers costs and improves efficiency.
— Hangerang, an app to fight online isolation by connecting people with real social experiences, including places to meet and gather.
— Schedule My Rent, an app to connect landlords and tenants for better property management.
— Think Ubiquitous, a data analytics firm.
Most participants already have a head start on building their businesses, said ABQid Executive Director T.J. Cook.
“Four of the five startups have already achieved some form of revenue,” Cook said. “Some have done meaningful customer discovery, but they want to develop faster than they might on their own. ActivateNM can help them get plugged in and connected.”
The program combines ABQid’s lean startup model with WESST’s focus on building operational foundations for companies to solidify as sustainable businesses.
Through ABQid’s eight-week accelerator, participants conduct direct customer research and market validation of their products and services. That’s backed by constant networking with business consultants, entrepreneurs, professional organizations and investors, all reinforced through workshops and one-on-one mentoring.
WESST helps set up accounting systems and other structures, and assists with regulations and requirements to operate companies.
“We help the entrepreneurs understand the language of business, financing, working with numbers and building capacity,” said Julianna Silva, managing director of the WESST incubator. “The combination of ABQid’s lean startup methodology with our capacity training provides a robust wrap-around system for companies as they explore business opportunities.”
The cohort will be housed at the WESST Enterprise Center’s co-working space Downtown, equipped with computers, printers, telephones and Internet access.
The accelerator culminates with a Demo Day on Dec. 7, but the companies will continue working at WESST and meeting with mentors to keep building their businesses for three or four months after that.


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WH Group delays pricing IPO
April 22, 2014
by Meat&Poultry Staff
HONG KONG – What would have been the second-largest ever initial public offering apparently has evaporated, according to a Reuters report
. WH Group Ltd. slashed its IPO to less than $2 billion from nearly $5.3 billion.
The company set pricing for the IPO for April 22, and the shares were supposed to debut on the Hong Kong stock exchange on April 30. The company delayed pricing after downsizing the IPO. Reuters said the deal failed to attract cornerstone investors. Additionally, a payout of $600 million to WH Group executives raised concerns about corporate governance.


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Breakfast traffic now accounts for 11% of all foodservice visits in the British QSR market, according to new research from The NPD Group.
Although still small, the company notes that breakfast traffic has grown by almost a third in the last five years. In real terms, breakfast now equates to 640 million visits a year and generates £2 billion for the QSR channel.
Retailers and coffee shops are the two biggest providers of breakfast in the QSR channel. They alone account for almost half of all breakfast traffic in the sector. However, they are very closely followed by burger outlets and bakeries.
Although thought to be less valuable, a breakfast visit is on average worth £3.10, which is only 52p less than the total average visit.
Breakfast in the QSR channel tends to be a lonely occasion as 80% of all visits is by a person eating alone. Consumers are also more likely to be men and over 25-years-old.
Muriel Illig, account manager at the NPD Group, commented: “Although Breakfast is performing well, operators must not become complacent. There is still more opportunity to be grabbed in the QSR sector; this would come by developing more social breakfast occasions and more suitable offers to women. Overall, as it is the case in the food service market in general, innovation will be essential to sustain the performance.”


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Last year’s 1st Annual St. Peter Antique and Collectible Show proved to be a big success, with both dealers and customers. Antique Show Chairs Dale and Charleene Smith are now preparing this year’s show to be held on Sept. 14-15. Learning from last year, other changes have been made, but the show is still has free parking and admission. Donations will be gratefully accepted, though. Daily drawings for $25 American Express cards will be held twice each day. Food service for the show has been expanded and will offer more variety and healthy choices. Finally, publicity has been increased. Articles concerning the show have been published in several national antique publications, including Antique Trader, Antique Week and Todays Vintage, with more to come. The show is also listed Coast Views, West Coast Peddler, Pacifica Patch, Cochran’s Collector’s Guide and other online and print calendars.
While the Antique and Collectibles Show is primarily a fund raiser for St. Peter Parish, the Smiths also see the show as another opportunity, like the Fogfest, to promote Pacifica. Like last year, a special table will be set up telling dealers and customers “What’s Happening in Pacifica.” Included will be a book of restaurant menus. Information regarding Spindrift Players, Pacifica Performances, and other entertainment venues will also be provided this year. The Smiths want to provide information about our local art galleries, historic sites, parks and hiking areas, as well as the many specialty and antique stores in Pacifica.
To better accomplish this, the Smiths need information from hotels, motels, restaurants, civic groups, performance venues, stores, and other event organizers. Any business or civic group or event wanting to participate in the show’s “What’s happening in Pacifica” table should contact Dale & Charleene Smith at (650) 359-6910 or (415) 602-6702 or by email at firstname.lastname@example.org. More information on the show is available at www.stpeterantiqueshow.com .
In the next few weeks, committee members will be approaching Pacifica businesses and organizations with posters and fliers about the show.
The show received a lot of support last year from the Pacifica community and St. Peter’s want to give back support to the community. It is the only Antique and Collectible show on the San Mateo Coast. As the show grows more popular, it will draw more people to Pacifica, who will discover what our city has to offer as a community.


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- VillageMD will invest $5.2 billion in the primary clinic Walgreens Boots Alliance Inc., which will double its stake in the company to 63%.
What will happen to the environment after 129 years of Greenhouse Gas?
None of the world s rich and powerful are banking 500 billion in this tax-based tax sanctuary.
None What is the front line of the U.S. Constitution? The deal will increase the number of primary care practices located in Walgreens chain stores to 1,000 by 2027, with more than half ten practices located in underserved communities, the companies said in a joint statement.
Pharmacy dealers are under pressure to expand their offerings as e-commerce firms like Amazon.com Inc. make inroads into the pharmacy sector. Walgreens has raised its profile in value-based primary care, a rapidly growing segment of the health-care market worth about 1 trillion according to the statement.
As of 10: 24 a.m., the shares of Walgreens In New York fell 2.3%. They had risen 19% this year until Wednesday.
The company announced an investment of $1 billion in close held VillageMD on the beginning of last year, with a goal of building 600 to 700 pharmacy-located practices. The partners said in January Walgreens accelerated his investment.
VillageMD will go public in 2013 Bloomberg reported in April, citing people familiar with the matter. The initial public offering could raise as much as $1 billion and value the company up to $10 billion, one of the people said then.
The IPO is now expected towards the beginning of next year, with Walgreens remain the majority shareholder, said James Kehoe, the company's chief financial officer, on a call with investors.
Walgreens released separate quarterly results today that beat analysts estimates. the fourth quarter of fiscal 2017 was $1.17 a share, with sales of $34.3 billion, according to a statement made Thursday. Wall Street had expected adjusted earnings of $1 a share and revenue of $33.1 billion, according to estimates compiled by Bloomberg.
Compounded earnings per share will grow to about 4% in the next three years on a adjusted annual basis, Kehoe said in a presentation. The growth rate of the CFO will be influenced by investments and lower vaccination rates in the fiscal year 2022, the CFO said.
None Jane Fraser Has a plan to remake Citigroup while Tormenting Rivals
Does Homeopathy work? None These Out-of-work American tell Us Job Market Turmoil Is Anything but transitory.
How can white lawmakers protect Black Hairstyles?


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For the first time ever, Just Magical Marshmallows will be available nationwide at select retailers, Lucky Charms’ maker, General Mills, said.
The 6-oz. pouch features all eight of the delicious charms you’ve been enjoying in your cereal for decades.
General Mills said the marshmallow pouches — which will be more widely available in the U.S. in September — will be about $3.99 and will be available for a limited time.
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- Spotty showers continue overnight as cold front sweeps through
- Local family-owned costume shop struggling amid coronavirus pandemic
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DAINIK NATION BUREAU
Pearl Academy announced a unique initiative – the Quarter Century Scholarships 2018 wherein 525 students will get grants to study design, fashion, media or business at Pearl Academy and the next 1000 will get early admissions in the institute. The scholarship test is scheduled on 18th of November, 2017. Admission forms are available online at https://pearlacademy.com/quarter-century-scholarship. The test centres in North India include Delhi, Lucknow, Noida, Jaipur, Ludhiana and other centers are Kolkata, Pune, Ahmedabad, Patna, Bhopal, Kochi and Bangalore.
Announcing the Quarter Century Scholarships 2018, Prof. Nandita Abraham, CEO of Pearl Academy said, “North India has a huge potential and we have nurtured some of the best creative minds from this state over the last 25 years. We are confident that the Quarter Century Scholarships 2018 will give an opportunity to the students of this state to further their aspirations and us to help hone their skill sets making them future ready for the industry. We have been continuously developing and upgrading our pedagogy to provide a 360o exposure to our students. Its our constant endeavor that every single student gets an opportunity to develop skills, knowledge, and is motivated to embrace change, set trends, lead the change as an innovator and leader of the future, setting new benchmarks in skill development and talent enrichment.”
From being the Best Design Institute in India in ASSOCHAM Education National Excellence Awards to the first and only Indian institute to be ranked amongst the top 25 colleges in BoF Global Fashion School Rankings 2017 (Graduate), Pearl Academy has been winning recognition both at national and international levels.
Considering tremendous growth in media and entertainment sector as per industry reports, Pearl Academy has introduced a new School of Media with UG and PG level courses in Media and Communication with specialisation in Journalism and Entertainment. The academy has also introduced courses in Advertising and Marketing, additional pathways for Textiles and Accessories under Fashion Design and a pathway of VFX and Animation under Communication Design course.
About Pearl Academy
Pearl Academy, India’s leading institution in design, fashion, creative businesses and media studies has been a catalyst for success of the students across creative industries for over two decades. With a legacy of 25 years, Pearl Academy offers over 30 uniquely designed under-graduate, post-graduate and professional development pathway through its campuses in Delhi NCR (East & West), Jaipur and Mumbai. Its reputation of preparing ‘Industry ready’ professionals has been recognized by leading fashion, retail and design brands, which has helped in establishing a healthy track record of over 95 per cent placement for the last three years. Its path-breaking alliances with renowned bodies such as the Fashion Design Council of India (FDCI) and Institute of Indian Interior Designers (IIID) have ensured that its faculty and students get an exclusive access to ‘industry in the classroom’.


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Apple announced in April that it was discontinuing its AirPort lineup products, but that the AirPort Express, AirPort Extreme, and AirPort Time Capsule would remain on sale until existing stock was exhausted. It took seven months, but apparently they’re all finally gone.
MacRumors reports that listings for the AirPort lineup are no longer on the Apple Online Store.
There are no longer any AirPort products available for purchase from the online store or Apple retail locations, with the exception of some refurbished AirPort devices that may continue to be available on the refurbished site.
The AirPort lineup went without an update for quite awhile before Apple’s announcement. The AirPort Express received its last update in 2012, while the AirPort Extreme and Time Capsule both last received any update love back in 2013.
Apple now offers third-party routers in their stores, such as the Linksys Velop mesh Wi-Fi system.
If you’re still using an AirPort device (and you know who you are), you’ll be glad to know Apple plans to provide service and parts for the current generation AirPort devices for the next five years. By then, you should be MORE than ready for a new router.


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Record growth for Irish meat and livestock exports in 2018
Bord Bia said that the significant increase was based on the rise in production volumes across all meat species and the opening of new markets. Furthermore, the report indicated that meat and dairy was amongst Ireland's largest export categories, accounting for 66% of the country's total exports.
Beef exports were valued at €2.5 billion (+ 1 per cent), while strong price growth saw a 15 per cent rise in the value of sheep exports to reach €315 million.
Significant downward price pressure saw the value of pigmeat exports decline by 6 per cent to €666 million for the year, even though production increased by 4 per cent.
The value of poultry exports increased by 8 per cent to €316 million, as the sector reached its highest ever production levels of 157,000 tonnes.
Finally the overall value of live animal exports declined by 8% in 2018 to €161 million despite an increase in the number of animals exported. This was due to an increase in calf exports and a decline in higher value finished cattle.
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Poultry producers from the province of Shandong, China, are clear to export frozen poultry to Rus...


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BMW’s hotly anticipated foray into the electric car market will hit UK streets in January - Will Nichols gets a preview.
BMW's i3 is the first model to emerge from its sustainable all-electric i brand, which was established as a project team in 2007 before taking on a central role in the German car-maker's portfolio. Judging...
HM Treasury says consultation on taxing plastic waste received highest ever response rate from businesses and the public, with strong support for measures to cut demand for takeaway containers
Three companies team up to develop waste plastics as a raw material for making fuels, chemicals and new plastics
BusinessGreen brings you this week's green economy headlines from around the world
Westcott Venture Park plans to build 15MW direct wire solar farm to make it the first "carbon-negative" business park in the UK


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Heinen's has been a favorite among Northeast Ohioans for a more upscale grocery experience, and its shoppers have noticed.
According to Consumer Reports' reader ratings, which were published this month, Heinen's ranks third overall in supermarkets across the country. Central Market in Texas ranked first, followed by Wegmans at No. 2.
Heinen's received an overall score of 89, with "Excellent" ratings for cleanliness, staff help, checkout speed, produce quality and variety, meat quality, healthy selections and local produce selection. Its lowest category score was competitiveness of prices, which received a "Fair" rating.
The overall ratings were based on more than 75,000 responses to a Consumer Reports reader survey, in which respondents discussed their experiences at stores from July 2017 to September 2018.
Heinen's has nearly 20 Northeast Ohio locations and four more outside Chicago. The brand's downtown Cleveland location has become a tourist destination due to its prepared foods and beautiful ceiling.
Despite the chain's success, owners Tom and Jeff Heinen told WKYC in January that they have no current plans to expand to any more markets.


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Few companies leave investors as baffled as Tesla (TSLA -4.59%). The electric car company shocked the Street when it entered the solar power market, and sister company SpaceX actually stands closer to CEO Elon Musk's ultimate vision than Tesla does. Tesla's shares are highly volatile because of the company's unpredictable business moves, and the stock has gained a heart-stopping 348% over the last 52 weeks.
Overstock.com (OSTK -0.04%) plays a similar role in the online retail sector.
I'm not kidding. Overstock is easily misunderstood and often incorrectly valued, giving investors a chance to benefit from a deeper understanding.
Over the past year, Overstocks' share prices rose by 134%. But if you managed to buy Overstock's stock near the market bottom in March, you're looking at a majestic 966% bounce from those 52-week lows. Timing Tesla's stock perfectly basically amounts to holding the stock all year long. The maximum gain from July's lows stops at just 355%.
What's so confusing about Overstock?
You might think of Overstock as a smaller e-commerce store in the mold of Amazon.com (AMZN -3.01%) or JD.com (JD -2.17%). That used to be the case. Overstock started out as a pure play on online retail operations, based on a low-cost business model that involves the selling of excess inventory from factories and other retailers at discounted prices. That's all in the company's name, so many investors don't really look any further. If you want to invest in a great online retailer, it's kind of hard to beat the best. Just stick to Amazon or one of its international rivals.
But then you're missing out on the most interesting part of Overstock's current business. Its tZERO and Medici Ventures divisions both fall under the banner of financial technology businesses. Medici Ventures invests in a variety of start-ups in the blockchain technology space and tZERO operates a blockchain-based trading platform for various securities.
How important is the fintech business?
tZERO was hot stuff in 2017, when cryptocurrency prices were skyrocketing and even downright silly companies could double or quadruple their stock prices in short order just by claiming to have some sort of blockchain-related business idea. These days, Overstock's blockchain businesses account for roughly 3.5% of the company's quarterly revenues. tZERO actually runs a trading platform where investors can trade digital tokens in a system that's similar to a stock market, but with secure transaction tracking based on the blockchain technology that makes the market tick.
It's not a huge business yet, and I have only seen two stock-like tokens on the tZERO platform so far. One is a token representing Overstock and the other is a token-based way to invest directly in tZERO itself. But you have to start somewhere. Overstock's ambitions for tZERO don't stop there and the company is actively looking for more assets to trade and manage using tZERO tokens.
"We connect issuers looking to raise capital and access liquidity with investors interested in trading these securities," said tZERO CEO Saum Noursalehi in Overstock's fourth-quarter earnings call. "For example, in the fourth quarter, we signed an agreement with Alliance Investments to tokenized $25 million of River Plaza, a commercial real estate project in Manchester. Upon concluding their capital raise, which is in progress, we intend to tokenize the asset and have it trade on the tZERO [Alternative Trading System]."
Many other types of capital assets can benefit from a tokenized trading platform like tZERO. Company capital and real estate assets are solid starting points, but this market could eventually be used for tracking ownership in things like art, intellectual property, and industrial machinery.
Where does Overstock go from here?
Overstock has considered breaking the blockchain business apart from the online retail division, but that idea lost most of its shine when cryptocurrency prices crashed in 2018. Digital coins and blockchain technologies are gaining steam again in 2020, and Overstock is in a better position to take advantage of a healthier market this time.
Forgetting about Overstock's blockchain operations is a big mistake, kind of like assuming that Tesla always will focus on electric cars even though Elon Musk has made it perfectly clear that he really wants to run a battery business and send humans to Mars. Both companies have much broader ambitions than the simple e-commerce and electric car ideas that took them this far.


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Best Western International will open its first U.S. sites for a new brand called Vib (pronounced "vibe" for "vibrant) in Miami and Chicago.
The first international hotel site will be in the Gangnam neighborhood of Seoul.
The Miami hotel will feature 10 stories and 200 rooms, and will break ground later this year, according to a company statement. The Chicago site will be close to Midway International Airport with three stories and 74 rooms.
The concept for Vib hotels was rolled out last year. They are meant "to incorporate the local flavor of their individual markets, as well as comfortable and chic guest rooms as a modern, tech-friendly hotel brand" as Best Western described the brand in a statement.
Features include a relaxing Zen Zone, gaming pods in the lobby and a 24-hour fitness center. In addition, there will be a fireplace area for hang time and a grab-and-go food shop open 24/7.