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Blockchain gets its first test with international trade
Some financial gurus are convinced that blockchain (the underlying tech behind bitcoin) is the future of business, and they might already have some proof. The Commonwealth Bank of Australia and Wells Fargo have conducted the first international, inter-bank trade deal to use blockchain for the transaction. It was a relatively modest experiment that shipped $35,000 in cotton from Texas to China, but it demonstrated the advantages of taking humans out of the equation. The deal included smart contracts that automatically sent payments and transferred ownership as the cargo reached certain locations. The companies involved didn't have to waste time sending documents, processing money or worrying about potential fraud.
MasterCard's QkR mobile payment system enters trial in Australia
MasterCard is all over the map when it comes to mobile payments. The credit company will partner with anyone, anywhere, anytime if it means getting new customers and making a buck on the deal. Its latest offering is called QkR, an Australian effort with support from the Hoyts chain of movie theaters and Commonwealth Bank. The initial trial run will be at La Premiere cinemas, where customers will be able to order and pay for food and beverages right from their seat with the QkR app. To initiate the transaction a you scan the QR code or tap the NFC tag attached to the arm rest, and a staff member delivers the trough of popcorn and kiddie pool of coke right to your seat. Now all we need is this sort of high-end treatment in American movie theaters. Check out the video after the break to see it in action.
Commonwealth Bank's Sydney swaps employee Dells for MacBook Airs
Staff at the Commonwealth Bank in Sydney, Australia are preparing to move to a new location, where a fleet of 11" MacBook Airs will replace their Dell desktops. According to website iTnews, most of the desktop Dell computers used by the bank's 4,000 employees will be replaced with the MacBook Airs. However, those machines will continue to run Windows. "It is just a hardware change," the bank noted in an email obtained by iTnews. It's presumed that the move is meant to prevent bank employees from having to learn a new operating system. It's unknown if proprietary or mission-critical, Windows-only software was a part of the decision, not to mention the bank's IT department. It's also interesting to note that the bank has done away with traditional offices and desks for many. Instead, they've set up many docking stations with a display, mouse, keyboard and network access. Also, LCD collaboration screens and smart whiteboards will be used for presentations. Here's hoping Comm Bank workers enjoy their new Airs, and are prompted to see what they can do with Mac OS X installed.
