PwC: Blockchain technologies could boost the global economy US$1.76 trillion by 2030 through raising levels of tracking, tracing and trust

LONDON, Oct. 13, 2020 /PRNewswire/ — New analysis by PwC shows Blockchain technology has the potential to boost global gross domestic product (GDP) by US$1.76 trillion over the next decade.  

 

 

That is the key finding of a new PwC report Time for trust: The trillion-dollar reason to rethink blockchain,  assessing how the technology is being currently used and exploring the impact blockchain could have on the global economy. Through analysis of the top five uses of blockchain, ranked by their potential to generate economic value, the report gauges the technology’s potential to create value across industry, from healthcare, government and public services, to manufacturing, finance, logistics and retail.

“Blockchain technology has long been associated with cryptocurrencies such as Bitcoin, but there is so much more that it has to offer, particularly in how public and private organisations secure, share and use data,” comments Steve Davies, Global Leader,

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With $300 Million In New Funding, Zymergen Aims To Sustainably Transform The $3 Trillion Chemical And Materials Industry

By making better, greener alternatives to petrochemistry, Zymergen sees a huge economic and environmental opportunity

As the smoke from a dozen wildfires darkened San Francisco, Josh Hoffman took his two children outside to see the surreal morning sky. It looked like a dystopian scene from Blade Runner 2049.

“My kids were scared because the sun never rose, and when it did it looked like a dying planet,” says the CEO of Zymergen, a biomanufacturing company. In the apocalyptic skies, Hoffman saw the end of times that so many warn about if we don’t get a handle on climate

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Exclusive: HSBC targets net zero emissions by 2050, earmarks $1 trillion green financing

LONDON (Reuters) – HSBC HSBA.L will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, Chief Executive Noel Quinn told Reuters.

FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo

The pledge is the strongest statement by Europe’s biggest bank on climate change to date, although it met with criticism from some environmental groups for not taking more immediate action to curb its fossil fuel financing.

“COVID has been a wake-up call to us all, including me personally. We have seen how fragile the global economy is to a major event, in this case a health event, and it brings home the reality of what a major climate event could do,” Quinn told

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HSBC targets net zero emissions by 2050, earmarks $1 trillion green financing

By Lawrence White, Sinead Cruise and Simon Jessop

LONDON (Reuters) – HSBC <HSBA.L> will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, its Chief Executive Noel Quinn told Reuters.

In the strongest statement by Europe’s biggest bank on climate change to date, its CEO outlined HSBC’s ambitions to align its activities with the Paris Agreement.

“COVID has been a wake-up call to us all, including me personally, we have seen how fragile the global economy is to a major event, in this case a health event, and it brings home the reality of what a major climate event could do,” Quinn told Reuters in a video interview.

HSBC aims to achieve net zero in its own operations by 2030, he added.

While other UK banks such as

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IBM Offloads Legacy Business to Focus on $1 Trillion Cloud Industry

Embattled tech relic IBM (NYSE:IBM) has made many attempts to right its flagging business over the years, thus far to no avail. However, in spring 2020, CEO Arvind Krishna — former Senior Vice President of IBM’s cloud and cognitive software segment and a key player in the 2019 acquisition of Red Hat — took the reins of the company. Year-to-date results have again been lackluster, even as cloud computing has become more important than ever before during the pandemic. True to his roots, though, Krishna recently announced IBM will spin off its managed infrastructure services unit into a separate business to focus solely on the cloud.

Someone holding a tablet. Illustrated charts and data are drawn over the screen.

Image source: Getty Images.

Freeing Red Hat from dead weight

During the 2020 second quarter, IBM’s total revenue fell 5.4% year over year to $18.1 billion. Masking cloud computing segment strength — including a 17% increase in Red Hat sales and a total cloud

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China spent a record 2.2 trillion yuan on R&D in 2019 but needs to do more to escape US tech strangulation



a group of people standing in a room: A promoter dressed to look like an astronaut walks past a robot at the China Beijing International High Tech Expo in Beijing, China on Thursday, Sept. 17, 2020. Photo: AP


© AP
A promoter dressed to look like an astronaut walks past a robot at the China Beijing International High Tech Expo in Beijing, China on Thursday, Sept. 17, 2020. Photo: AP

Whatever the outcome of the upcoming US elections, most analysts agree that the tech rivalry between the US and China is unlikely to let up any time soon and therefore Beijing is expected to keep doubling down on its catch-up efforts.

China’s Ministry of Science and Technology last week vowed once again to look carefully at how the work of researchers is evaluated, ensuring that the focus is on research that “achieves real performance” as opposed to simply counting the number of publications.

This is part of Beijing’s wider drive to close a core science gap with the US and reduce its dependence on imported technology. Measures to revise the evaluation of researchers began in 2018 as part

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A Major Tesla Investor Has Predicted Bitcoin Will Be Worth More Than $1 Trillion In Under 10 Years

Bitcoin has had a strong start to the decade, adding over 40% to its price so far this year—and taking its market capitalization to around $200 billion.

The bitcoin price, which began the year at around $7,000 per bitcoin token, has been on a roller coaster through 2020, crashing to under $4,000 in March before rebounding to well over $10,000.

With a raft of established investors turning to bitcoin this year as a potential hedge against the inflation they see coming as a result of unprecedented government spending and money-printing, a prominent investor in electric car-maker Tesla
TSLA
has said it expects bitcoin’s total value to balloon to between $1 trillion and $5 trillion during the next five to ten years.

MORE FROM FORBESBitcoin And Blockchain Are The ‘Future’ Of Twitter, CEO Jack Dorsey Reveals

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Tim Cook Gave This Simple Reason Why Being a $2 Trillion Company Isn’t Apple’s Most Important Thing

Tim Cook was a guest at The Atlantic Festival, where he sat for a virtual interview with Editor-in-Chief, Jeffrey Goldberg. During their conversation Cook talked about everything from climate change, to how Apple is handling the pandemic, both from the perspective of working remotely, as well as what the company is doing to help.

It was at the end of the interview, however, when things shifted to something more personal. Goldberg asked Cook first about whether he had plans to leave (he says he doesn’t), and then what impact Apple’s $2 trillion market cap had on the company (it sits at just under that as of today’s date).

We’ll get to Cook’s response in a moment, because I think it says a lot about Apple and what has long drawn its most loyal fans to the company. That’s an important thing right now as the company has faced criticism over

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Businesses Could Pay $1 Trillion Biodiversity Bill

As the United Nations Summit on Biodiversity meets on Wednesday, governments and businesses are being urged to commit to ambitious new targets.

“We have failed to meet any of the biodiversity targets we set in Japan 10 years ago,” UN Secretary General António Guterres told the virtual Leaders’ Pledge for Nature on Monday. “We need a new biodiversity framework.”

The new framework the UN Convention on Biological Diversity has in mind is to place 30% of the Earth’s surface under conservation status by 2030. This would almost double the amount of land and sea currently under protection.

On Monday, prime ministers of the U.K. and Canada, Boris Johnson and Justin Trudeau, said their countries would commit to protecting 30% of their land and sea by 2030.

Others are expected to follow suit on Wednesday (30 September) as leaders meet virtually for the United Nations Summit on

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