From renting the power of a computer to eliminating single points of failure, dApps has much to offer for your business functions

These days, Decentralisation and Decentralised Applications (dApps) are the talk of the town because of the attraction they bring to every industry from various developers in various parts of the world.

What makes dApps so special?

dApp development services provide businesses with advanced software programmes or tools that operate using the decentralised platform of blockchain. It intrigues many developers around the world regarding its functionality and operability.

Unlike traditional applications, dApps does not require third-party entities to connect developers and users. It connects peers together directly and instantly provides a strong P2P connection.

This kind of permissionless accessibility has increased the demand for blockchain dApp development services globally. Thus, newer dApps development companies are emerging by the day.

The rules of developing a dApp cannot be changed once built. This there is no central authority or there is no single point of failure. This enhances payment distribution dApps to function more effectively and increase user experience.

Everyday, dApps are incorporating more into our lives. This article discusses how blockchain-based distribution dApps are changing the basic business functions.

Features of dApps that make it the best in blockchain-based payment scenarios

1. A consensus in operating without central control
With dApp, validation of any transaction can be accomplished without the requirement of any kind of centralisation. Every dApp will have its own nodes that connect with each other instantly and directly without the need for a central clearinghouse to pass through payments.

Also Read: A decade of innovation: How East Ventures is building Indonesian tech ecosystem from the ground up

Thus, the transaction process is faster and more secure.

2. dApps are open-sourced and less risky
Typically, in a closed-source application, users can only trust the developers for security as they do not have direct access to their data or how their data is handled. This is due to centralisation.

This also increases the risks of trust between the user and dthe eveloper. But, with dApps the trust is enhanced as it creates a strong P2P kind of business model where users can track all their transactions and data in real-time.

Users have the ability to govern their payment information without anonymity and autonomy.

3. Continuity in operations with no single point of failure
Since dApps do not rely on any central server or single central authority, the chances of data loss or data manipulation are pretty much lower than traditional applications.

dApps store data across different nodes within a system and each node is independent of each other. Thus, even when one node fails, data can be accessed and retrieved from other active nodes.

Distributed Hash Tables (DHTs) and Interplanetary File Systems (IPFS) can be used to develop such dApps for an efficient distributed payment dApp.

4. Generation of tokens and mining of cryptocurrencies
There is no problem with currency since dApps use its native system of token and cryptocurrencies as a means of transaction.

It is even better that users get accessibility in mining their own cryptos based on their custom preferences. This serves to be as proof of work and proof of value.

Thus, completing instantaneous transactions in transparency and security is a promise made by dApps.

Some real-life scenarios of how dApp changes business operations

1. Changing insurance functions
dApps help to provide proof of evidence of documentations uploaded digitally as well as proof of stake for digital asset liquidation. Thus, in the industry of insurance dApps provide a tamper-proof environment.

With the integration of smart contracts, dApps can also automatically trigger payments from user accounts (eg. Aigang Network).

2. Changing functionalities of real-estate operations
Using blockchain Software as a Service (SaaS), dApps reduce the time taken to process mortgage applications. It helps to address and focus on challenges that arise in application submission by making it digital and direct submission of sellers.

Thus, financial operations are transparent and there is no possibility for fraudulent activities (eg. Red Swan).

3. Shaping IPR and media operations
dApps help media industries protect content from digital piracy and extend its audience simultaneously without border limitation or legal restriction. Licensing of media and review is faster than ever.

Tapping into the value creation for smart media content is highly possible with decentralisation (eg. Hearo.fm).

4. Renting the power of a computer
dApps is highly beneficial for designers, animators and anyone who require large computational loads for their work.

Also Read: A hyper-intelligent workforce and the future of work

Using dApps, peers can connect with each other and instantly rent computer hardware, software or even use virtual machines to share computing power and pay for them all through tokens or cryptocurrencies.

Say goodbye to buying computers. Instead, users can avail this Airbnb type of concept for renting computers (eg. Golem).

The dApps framework will increase the scalability of all business entities

The successful implementation of dApps outlines the idea that it will allow business operations to take place smoothly without any hindrance.

Though the technology is new and its potential has yet to be realised globally, the demand for it has still been robustly increasing by the minute.

With blockchain, dApps also help with decentralised storage of data, identity protection, managing financial volatility and controlling autonomous operations without error.

So, how are dApps changing your business function?

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Image Credits: theromb

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This marks the first international money transfer that accepts PayNow

TransferWise, the global remittance fintech company, announces that it will allow customers to fund their remittances using Singapore-based mobile payment service PayNow. TransferWise becomes the first international money transfer company to do so.

The launch will allow TransferWise customers in Singapore to have four options for making payments: credit card, debit card, bank transfer, and PayNow, which allows it to offer the most number of payment methods in Singapore.

“PayNow has become a widely-used method of instant payment by consumers in Singapore. Our customers told us they like PayNow for its speed and convenience, so we added the implementation of PayNow to our engineering plans and worked to launch the feature as quickly as possible,” said Timothee Ledure, Lead Product Engineer at TransferWise.

TransferWise was founded in 2011 and headquartered in London with a mission to make international money transfers instant, convenient, transparent and eventually free. The company said that it handles US$3.9 billion (S$5.34billion) in cross-border transfers every month for its 4 million customers.

TransferWise was launched in 2016 in Singapore and said to have moved over US$1.3 billion (S$1.7 billion) in and out of Singapore every year ever since.

Also Read: Gobi Partners names ex-Sony Chairman as advisor for Japan

PayNow Corporate was launched in August last year, giving businesses and corporate bodies access to peer-to-peer instant payment service PayNow which allows transfers using just mobile phone numbers eliminating the need to exchange bank account numbers.

Users who choose to pay via desktop browsers or mobile apps using PayNow by either inputting the TransferWise Unique Entity Number (UEN) – which is 201422384R – to their PayNow app or scanning a QR code provided.

Later on, TransferWise will also offer a form of instant verification for new users when it was made available to businesses here with MyInfo.

To date, TransferWise has sent money from 43 countries to 71 countries.
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Waterdrop Company consists of three business lines; Waterdrop Crowdfunding, Waterdrop Mutual, and Waterdrop Insurance

Waterdrop Company, China-grown insurtech with subsidiaries in Southeast Asia, announced the closing of its Series B funding. The company’s business that focusses on crowdfunding platform and insurance reportedly completes nearing US$74 million fund.

The funding was led by Tencent and co-invested by Banyan Capital, IDG Capital, BlueRun Ventures, Sinovation Ventures, DST Global’s Founder Yuri Milner, former CEO of Tencent’s E-Commerce Company Wu Xiaoguang, and other reputable investors.

Waterdrop noted that the fund raised will be used to build a more seasoned and extensive health insurance team and to better utilise AI application in the company’s insurance services. ’

“In the year 2019, we are aiming to provide more affordable medical alternatives including crowdfunding, mutual, and insurance products. We will also try to better our user experience by establishing a complete medical support system,” said Waterdrop’s founder and CEO Shen Peng.

“We believe that providing healthy individuals with sufficient insurance protection, as well as aiding those who are in need of help during disease-stricken times is a very philanthropic cause. We have a strong belief that Waterdrop would become the next business leader in the Insurtech space,” said Banyan Capital’s co-founder Zhang Zhen, representing the VC that has co-led Waterdrop’s angel series and co-invested in waterdrop’s Series B financing.

Also Read: PayNow Singapore partners with TransferWise, facilitating international money transfer

As the unicorn of insurtech in China, Waterdrop managed to expand its business in China’s third, fourth and fifth-tier cities over the past three years.

Waterdrop Crowdfunding is the illness support internet platform in China, as well as the zero service fee business model in the industry highly aligned with the government’s plan of poverty alleviation, in specifics issues such as poverty resulting from high medical-care expenses and providing medical-care services.

Waterdrop Mutual is the medical funds internet mutual support platform that works through each members’ mutual aid effort to help each other during plague times and prevent the aforementioned poverty resulting from medical-care expense issue. Waterdrop provides its members with value-for-money, low threshold, and affordable medical-care protection.

As for Waterdrop insurance, it is an Internet insurance platform in cooperation with more than 50 renowned insurance companies domestically and launched more than 60 value-for-money insurance products. Waterdrop Insurance has “traffic-directive scenarios” and claims to have over 10 million users.

Also Read: Gobi Partners names ex-Sony Chairman as advisor for Japan

Data collected from platforms including Itjuzi, Sinovation Ventures, and Crunchbase shows that the Series B financing of Waterdrop is one of the largest deals in the Insurtech and healthcare market in China, since the global economic slow-down in 2018.
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There has been no information on who is going to replace her position at Facebook, and where she is heading next

As reported by Kumparan, Facebook Indonesia has confirmed the resignation of Country Director Sri Widowati from the position that she has held in the past three years. There has been no information on who is going to replace Widowati, and where she is going next.

A Facebook spokesperson told DailySocial that “Widowati has decided to develop her career beyond Facebook. We extend our gratitude for the positive impact that she had given in the past three years in executing Facebook programmes in Indonesia, and we wish her the best in her future endeavour.”

Also Read: Today’s top tech news, March 18: Cambodia’s largest funding round and Tony Fernandes quits Facebook

Prior to leading Facebook operations in Indonesia, Widowati had extensive experience in the FMCG sector, particularly in beauty industry.

As a Country Director, Widowati supervised the prevention of hoax dissemination on the social media platform by working together with Tirto as third party fact-checker.

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The article Facebook Konfirmasi Pengunduran Diri Country Director Indonesia Sri Widowati was written by Amir Karimuddin in Bahasa Indonesia for DailySocial. English translation and editing by e27.

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SALATECH’s aim to improve the quality of tertiary education for Cambodian students is as heartwarming as it is commendable

At the TOP100 competition in Phnom Penh, only one startup managed to clinch the Judges’ Choice award — SALATECH. The company will get to enjoy the privileges of a free exhibition booth space at e27’s Echelon Asia Summit 2019 and a chance to win S$50,000 Startup SG grant.

But while only one received an award, there will be three others representing Team Cambodia on Echelon’s TOP100 stage. These companies will also enjoy intimate investor meetings and inclusion to corporate business matchings on top of five starter tickets and TOP100 Tour access in Singapore.

Without further ado, here’s more on the winning pitch:

SALATECH

For the 70,000 students in Phnom Penh entering adulthood, pursuing a university degree seems like the next viable step to take. However, costly travel expenses and administration fees, coupled with paper-based enrollment methods have become a big deterrent for choosing the most suitable university.

Fortunately, SALATECH recognises their plight and seeks to automate the enrollment system and lower administrative costs so that more K-12 graduates can have access to quality education.

With SALA’s digital platform, all prospective students need to do is log in, find a suitable university, enrol in it, and manage their curriculum from there. No paper and pens required!

Its freemium business model provides free university listings and admission, and has already been rolled out across 19 universities and five K-12 schools.

An upgrade to its ‘Basic’ mode for just US$10 a year will add scoring, timetabling and attendance-taking services to the student’s account. For US$20 a year, an ‘Enterprise’ mode will help manage bills, HR issues and transport fares.

Founders Leap Sok, Thavorac Chun and Matt Rybin, who hail from IT and software engineering backgrounds, plan to tap on Cambodia’s market opportunity of three million students.

Their ultimate goal? Transforming and automating educational systems for affordable quality education.

Also Read: Gobi Partners names ex-Sony Chairman as advisor for Japan

Hats off to SALATECH! Now, here are the other three qualifiers who scored themselves a discounted exhibition booth space in the TOP100 Zone at Echelon Asia Summit 2019.

• Sousdey Cambodia

This tech company provides you with the tools to profile your users and improve marketing engagement via a 1-1 approach.

• Cryptoasia

Cryptoasia is the leading digital currency innovator in Cambodia and is a platform for merchants to buy and sell digital moolah.

• Muuve

Founded by youths, Muuve is a local-food delivery service that makes the whole ordering and delivering process much simpler and convenient.

Congratulations to all who have qualified! Catch us at our next qualifiers in Kazakhstan! Get your Echelon 2019 tickets here.

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Prior to joining Ecosystm, Sharma was the Vice President and Global Head of Business Development at the Indian tech giant

Updates: The previous version of this article incorrectly stated Anika Grant as a former Uber Global HR Director. We apologise for the inconvenience.

Singapore-based tech research and advisory firm Ecosystm today announced the appointment of Amit Sharma as its Principal Advisor, the latest in the company’s string of high profile new hires which includes former Frost & Sullivan MD APAC Manoj Menon and Uber Global HR Director Anika Grant.

Prior to joining Ecosystm, Sharma was the Vice President and Global head of Business Development at Indian tech giant Tech Mahindra where he managed, coached and cultivated a global team of digital evangelists or digital sales associates.

He also established and managed numerous partnerships covering technologies such as blockchain, AI, machine learning, IoT, big data, cloud, analytics, AR/VR, and mobile payments.

Also Read: If data is oil, Singapore startup Ecosystm plans to be the gas station for the tech industry

He currently serves as Founder & CEO at SPREAD, a digital B2B renewable energy funding and trading platform with a mission to invest in and champion green energy projects in developing economies across Asia Pacific.

Sharma has delivered presentations at the Blockchain Economic Forum in Davos; The Global Summit on Blockchain Technology, Berlin; and IoT World Singapore. He had also conducted and published researches on the potential of blockchain to mitigate climate change.

He is also an angel investor with Business Angel Network Southeast Asia (BANSEA) and Create Responsible and Innovative Businesses (CRIB). He also sits as a board advisor for various startups in the Southeast Asian region.

Commenting on his appointment, Sharma said, “As a change agent, I’ve always been passionate about the potential that disruptive technologies have in transforming organisations, and shaping a better, more sustainable future for our societies. Along these lines, I’m excited to be part of the Ecosystm project, especially with its lofty ambition of data democratisation.”

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Image Credit: Ian Espinosa on Unsplash

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Don’t believe all the doom and gloom surrounding AI — they need us more than we need them!

The rise of artificial intelligence has caused much worry in the workplace, largely because many professionals fear that they’ll be replaced by intelligent software in the near-future.

However, despite the impressive gains that AI has made in recent years, there are plenty of reasons to believe that it will continue to need human workers well into the future. As astonishing as these intelligent machines can be, there are still many things they’re incapable of tackling alone.

Here are some of the ways humans and machines are already working together, and why AI will continue to need human workers despite all the predictions of job loss.

Machines can’t do it all

We need to dispel the myth that ‘machines can do everything’ — human workers will always be necessary to some extent.

While basic labourers who handle mundane, repetitive tasks can easily see their jobs become automated by new innovations, intelligent workers who are needed to analyze large sums of information and make responsible decisions will always be called upon for a diverse array of business purposes.

Furthermore, existing market research demonstrates that modern consumers aren’t too happy about a robot-dominated future and still want to see a human face at the cash register.

Also Read: Smart retail startup Blue Mobile raises Series C funding from Ant Financial

Companies everywhere are racing to digitise and automate as much of their operations as possible, largely because they believe the benefits derived from cutting costs will outweigh everything else. As a matter of fact, consumers are beginning to notice that businesses are benefiting by cutting human workers out of the equation, and they’re not entirely happy about it.

A recent report noted that half of all consumers surveyed said that they preferred a mixture of AI and human shopping rather than an entirely automated process. This is only natural, as customers want a friendly face to turn to when things go wrong or they have a question – or, dare it occur, the pleasure of small talk.

A good experience with AI may be enough to wow some consumers into returning, but businesses of the future will need to take the human element into consideration when thoroughly automating their operations. Going too far into the direction of the robots could give your company a lifeless feel, as customers everywhere are going to want to feel as if they’re doing business with other humans rather than emotionless machines that simply process their payments and ship the products.

Elsewhere, we’ll also see AI continue to need human workers because the robots haven’t always proven adept at taking over our jobs.

Some skills still need a human touch

In a number of industries, some areas still require a human touch — unless you want a commercial disaster or PR nightmare on your hands.

Workers compensation and other employment costs may seem pricey, but there are many jobs that AI can do far better than humans like analysing pictures to detect a constant trend — things that an algorithm can do infinitely better than the human mind. Machines nonetheless have a harder time trying to match human creativity, and many automated programs struggle to appear lifelike and realistic when dealing with human customers.

As Forbes has pointed out, some key jobs will always demand a person for a wide variety of reasons.

Also Read: Fintech startup Mihuru is on a mission to make flying affordable for Indians

Accountability, for instance, is something that simply can’t be automated. A business may think they can save some money by automating the manufacturing process in its entirety, but if they lack a human manager to ensure that safety standards are being met, costly and dangerous floor accidents could occur.

Similarly, automated payment systems aren’t always sufficient at making sure workers are adequately compensated, and fully digitised management systems would have a hard time determining who’s worthy of a promotion and who isn’t.

In other words, don’t expect the machines to swoop in and replace everything just yet!

Deloitte has done an extensive amount of research into how humans and machines can work together to produce better results than ever before, and it’s worth considering if you’re interested in the future of AI in the workplace. By and large, Deloitte’s findings echo the results being championed by other AI experts in the marketplace; machines are going to supercharge humans more than they will come to replace us.

They’re simply tools and can be harnessed for good or evil ends depending on how they’re leveraged by human actors. Human professionals will soon be automating the mundane and repetitive tasks they do every workday, which will enable them to focus more of their time and energy on more creative and specialized pursuits more suitable for humans.

Whether it’s ensuring creativity isn’t stifled or that accountability is maintained, humans will always be needed in the workplace. Don’t believe all the doom and gloom surrounding the rise of AI – intelligent machines will continue to need human workers to operate them for years to come.

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e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

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BCA is the latest Indonesian banks to launch its own accelerator programme

Indonesian banking giant BCA launched coworking space and fintech startup accelerator programme Synrgy at Manhattan Square, Jakarta, as part of its effort to help support the digitalisation of Indonesia. Accelerator programme Digitaraya and Kumpul participating as supporting partners of the programme.

The launch of the programme was attended by executives from BCA, Capital Central Ventura, and Digitaraya. BCA President Director Jahja Setiaatmadja explained that his firm started the initiative as a response to ongoing trend of startups offering creative solutions to solve a problem.

“This background has encouraged us to support by launching a platform called Synrgy,” Setiaatmadja explained in a press statement on Wednesday, March 27.

Synrgy is a collaborative platform and accelerator for startup community that aims to encourage growth and innovation in the digital sector; it also serves as an innovation hub with excellent programmes to help startups grow their business faster.

Also Read: BCA Korea Secures $4.2M in Investment

Participating startups will get access to the programmes, which included the accelerator programme run by Google Developers Launchpad-backed Digitaraya.

The accelerator programme will run for three month with an intense monthly bootcamp to support product and business development. In the first month of the programme, the startup will go through diagnostics, leaders lab, and design sprint processes.

In the second month, the startup will learn about Indonesian financial industries regulations and how to build successful partnership. The agenda will also include legal consultation and product mentorship.

The demo day will he run in the third month. The startups will have the opportunity to present its products in front of potential investors and BCA. At the end of the bootcamp period, there will be a selection of startups who will partner with BCA or other potential investors.

Synrgy will also connect startups with competent mentors (including Google) to have a one-on-one consultation, open access to investors, as well as with BCA itself.

Also Read: BCA, IDA launch Green Mark for data centers

“By joining forces with Google Developers Launchpad, we will offer incomparable support for chosen startups,” Digitaraya VP Strategy Nicole Yap.

Registration for Synrgy accelerator programme has been opened on its official site and will be closed on May 17, 2019. For the first batch, BCA will pick eight fintech startups in the big data, digital payments, cybersecurity, blockchain, IoT, and other fintech verticals.

Prior to BCA, a number of Indonesian public and private banks have also launched similar programmes, such as Bank Mandiri, which hosted Mandiri Digital Incubator (through Mandiri Capital Indonesia), and Bank Bukopin, which hosted BNVLabs with Kibar.

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The article BCA Resmikan Coworking Space dan Program Akselerator “Synrgy” Bersama Digitaraya was written in Bahasa Indonesia by Marsya Nabila for DailySocial. English translation and editing by e27.

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Mihuru lets people book their flights and holiday packages by paying a small deposit upfront; the balance can be paid in instalments

Shruti Mehrotra spent the early years of her life growing up in Fiji Islands, before moving back to her home country. In India, given the nature of her father’s job, she had to move around every few years, along with her parents. This ignited a passion for travel in her, and she soon became an avid traveller.

In her childhood years, travelling — especially by air — was considered a luxury in India that only the affluent class could afford. But as the country developed and the market began to open up, travelling became a way of life for many.

“Until now, traveling was considered a luxury,” she tells me. “It has changed for the better now. Traveling is not a luxury any more; it’s now a way of life for many. As we Indians have always been an aspirational bunch, travelling — that too by air — has become more ubiquitous.”

Having said that, there is still a section of people in India, for whom air travel still remains an unaffordable dream. And Mehrotra and her team at Mihuru want this to be a thing of past.

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Tarad has launched U-Commerce, an integrated e-commerce management system for SMEs to help them manage a variety of online stores from a single platform

Tarad.com, one of the oldest e-commerce marketplaces in Thailand, announced today it has pivoted its business model to become a full-service e-commerce services provider.

As part of this, Tarad has launched U-Commerce, an integrated e-commerce management system for SMEs/merchants/vendors to help them manage a variety of online stores from a single platform.

Sellers can use the e-commerce management function to fill up product information, photo, price, and stock into Tarad.com system and all the information will automatically appear in sellers’ shop on various marketplace platforms. It will thus increase the opportunity to generate sales for entrepreneurs to have sufficient potential to compete in a growing market.

Also Read: The Financial Times reportedly acquires Singapore-based tech media Deal Street Asia

The key features of U-Commerce include:

• It connects merchants with leading e-commerce platforms such as Lazada and Shopee.
• It connects merchants with social media platforms like Facebook that can link to their online store.
• It provides an integrated payment system for merchants to accept online payments, payments via credit/debit card, and QR code of payments etc.
• It connects merchants with more than 10 transportation companies via SHIPPOP.com, and warehouse and delivery services SiamOutlet.com.
• It also provide merchants with advertising services in partnership with Google, Facebook, and Line

According to Founder and CEO Pawoot Pongvitayapanu, with 45 million internet users, the Thai e-commerce market has grown 14.04 per cent to 3.15 trillion baht this year. This indicates that e-commerce in Thailand will continue grow big and many businesses will focus more on online channel.

 

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