– IBM will promote blockchain and artificial intelligence (AI) technologies in Thailand
– Mining is no longer profitable for ethereum
– Bosch has partnered with IOTA
– GMO has reported a loss of 640 million yen (about $5.6 million) for its cryptocurrency mining business
– Shell and BP are among a group of firms planning to launch a blockchain platform to automate post-trade processes in the energy industry
The Thailand branch of IBM will promote blockchain and artificial intelligence (AI) technologies within the country in collaboration with the Bank of Thailand in order to to help local businesses to digitally transform.
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The business of mining new coins using high-powered computers is no longer profitable for ethereum.
The mining profit per month per one GPU is down from about $150 last summer, to an estimated $0 for November of this year, according to analysis from U.S.-based global trading and technology firm Susquehanna.
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A survey among 200 logistics managers from German companies indicated that one third of respondents believe that blockchain technology has the potential to significantly improve business processess in supply chain management.
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Electronics manufacturer Bosch has partnered with IOTA, integrating its new IoT device for real-time data collection with the decentralized IOTA Data Marketplace.
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Japanese IT giant GMO has reported a loss of 640 million yen (about $5.6 million) for its cryptocurrency mining business in the third quarter of 2018. That figure is markedly worse than its Q2 loss of 360 million yen (around $3.2 million). GMO put the drop down to a “worsening” external environment and increasing depreciation costs.
The firm mined a total of 1,590 bitcoins and 25 bitcoin cash in Q3, according to its latest monthly crypto mining business report.
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Oil industry giants Shell and BP are among a group of firms planning to launch a blockchain platform to automate post-trade processes in the energy industry by the end of 2018.
The platform aims to help companies to move away from traditional and cumbersome paper-based trading contracts and operations documentation to digital smart contracts.
VAKT, the consortium building the platform, also include Equinor, Gunvor, ABN AMRO, Koch, ING, Mercuria and Societe Generale.