TechTaffy

tech:

taffy

Consumers will be able to exchange bonus points using Blockchain, says IBM

By TechTaffy Desk

Consumers will be able to exchange bonus points from among any of the banks they do business with to select the rewards they want, said IBM in a statement. IBM China Research Lab and China UnionPay E-payment Institute have created a business platform on IBM Blockchain, that uses the Hyperledger Fabric to create a permissioned network for the exchange of bonus points, as part of a pilot project.

This joint effort also integrates online and offline channels using blockchain. As a result, it will be possible for China UnionPay card holders to go to any offline supermarket or mall equipped with intelligent point-of-service (POS) devices, to exchange bonus points for commodities by direct scanning.

It is anticipated that bonus points from flight mileage, mobile phone bills, gas cards and food and beverage purchases can be freely exchanged and swapped in the future.

China UnionPay is a core transfer, settlement and clearing organization in China’s bank card industry, and its transfer, settlement and clearing network operates in over 150 countries.

[Image courtesy: IBM]

Just in

Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services. 
Industry

Intel appoints Kevin O’Buckley as SVP and GM of Foundry Services

Intel announced the appointment of Kevin O'Buckley as senior vice president and general manager of Foundry Services, the customer service and ecosystem operations division of Intel Foundry.
Industry

Squarespace to be acquired by Permira for $6.9B

Squarespace will be acquired by global private equity firm Permira in an all-cash transaction valued at approximately $6.9 billion.