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Facebook to Launch Cryptocurrency?

Facebook to Launch Cryptocurrency?

Social media giant Facebook is said to be considering entering the crypto sphere according to reports.

With 2 billion users worldwide, if it were to occur it would mark a serious shift in public perception of cryptocurrency and blockchain.

The idea of a 'Facebook Coin' has been floated before, however, the idea may be closer to fruition than ever before with the announcement of the company's newly-formed blockchain group.

Given the Cambridge Analytica data scandal which involved the collection of personally identifiable information from up to 87 million users of the social media platform in 2014. Blockchain's decentralized record-keeping system may help restore the faith of those users that were affected.

It could also help with other issues like advertising sales and identity verification. Blockchain also forms the technology behind the majority of cryptocurrencies, logging transfers and ownership of the digital tokens.

The company said it was investigating ways to harness blockchain technology's power in line with the approach being across all industries.
Facebook typically takes a cautious approach to the roll-out of new features and it is likely to be some time before Facebook's blockchain and cryptocurrency work will be revealed to the world.

Worlds of Fashion and Crypto Continue to Come Together

Worlds of Fashion and Crypto Continue to Come Together

Much like Fashion Coin aims to overhaul the way fashion business is done, those involved in marketing the end product are also looking to change that aspect of the industry.

New York-based Casting Coin, which aims to launch this summer, is a platform that will offer models, fashion and hair stylists, photographers, makeup artists, fashion influencers and more the opportunity to book jobs simply by creating a profile.

Brands are also included and can access the platform to search for, book, and pay talent.

They have ambitious plans to create a revolution in the market for talent globally.

According to their website, work opportunities for fashion industry creative talent tends to be concentrated in the largest cities of the world meaning access to talent of a high-quality becomes difficult and expensive to source.  

Casting Coin promises to change this dynamic - allowing businesses to have access to talent, vetted at all levels across the world. Simultaneously, talent will have access to genuine jobs on a platform with guaranteed payment. 

A rival Dutch-based company iCasting is also eyeing up this market and is also planning an ICO this year, however with a slightly different - more entertainment - focus, looking to list models, actors, extras, TV candidates, presenters, dancers, musicians, hosts and more.

Model (on Instagram): @madhulika

Businesses Who Don’t Consider Blockchain ‘Risk Falling Behind’, According to Deloitte

Businesses Who Don’t Consider Blockchain ‘Risk Falling Behind’, According to Deloitte

In a report just released by audit and consulting firm Deloitte finds blockchain technology is set to become a crucial asset to the retail and consumer packaged goods (CPG) industry.

The report analyzed more than 50 potential cases of blockchain use and goes on to suggests the “potential impact” of this emerging technology “is huge.”

The report, entitled "New Tech On The Block", states blockchain is going to become "standard operational technology across the manufacturing, financial, and consumer industries," and goes on to state the next five years will be "a tipping point" as businesses begin to understand the potential of blockchain. The report also emphasizes businesses need to assess if their strategic objectives should lead to blockchain investment and says those that do not at least consider it are "at risk of falling behind".

The report also covers the rationale for blockchain in three key areas. Those areas are the consumer, chains of supply, and contracts and payments - each is scored in terms of the added-value blockchain systems could bring. While the main focus of the report is business adoption, it also states the consumer will be the ultimate beneficiary if blockchain creates greater efficiencies and cost savings throughout the supply chain. These benefits will be passed on to the consumer in the form of lower prices, safer products and higher quality.       

According to the report, figures from the Gartner market research firm estimates blockchain's value-add to business will grow to $176 billion by 2025 and surpass $3.1 trillion by 2030.

Focusing on both retail and CPG supply-chains, Deloitte claims the technology can solve the four so-called major "pain points" of the industry - compliance, traceability, flexibility and stakeholder management. The report suggests as an immutable, auditable, and system without intermediaries, with the operability of smart contracts, blockchain can address all of these concerns effectively.

Earlier in May, the chief executive of the FedEx of delivery services multinational stated in a speech blockchain was "the next frontier that’s going to completely change worldwide supply chains". 

Also, Oracle, the world’s second-largest software company announced it would be offering blockchain products, including for supply chain management for pharmaceutical companies. In April, Samsung said it intended to use blockchain to manage its global supply chain.