Deliveroo boss Will Shu gives himself 22.5% rise amid battle over riders’ pay

  • Will Shu, the boss of Deliveroo, handed himself a 22.5% pay rise last year at the same time as the company spent more than £1.5m on legal fees, partly because of the food delivery firm’s battle over pay and conditions for its thousands of couriers.
  • Shu, a former investment banker who set up Deliveroo from his London flat in 2013, increased his salary to £124,999 and handed out close to £4.5m in share bonuses to directors and hundreds of other head office staff, despite a 300%-plus widening in losses.
  • The pay rise also comes as the Central Arbitration Committee investigates whether Deliveroo’s drivers are independent contractors, as the company argues, or whether they should be classified as workers with rights to holiday pay, the national minimum wage and collective bargaining via a union.
  • Deliveroo’s revenues soared sevenfold to £128.6m in the year to 31 December 2016 as it expanded operations in the UK and overseas to 25,000 restaurants in more than 140 cities and 12 countries.
  • Deliveroo’s cash resources stood at nearly £180m at the end of last year after the company raised £209m in new funding from the issue of shares.

Will Shu hikes salary to £125,000 a year as dispute over workers’ status continues and losses mount at the food delivery company
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Will Cryptocurrencies Ever Overtake Cash?

  • Yep, cryptocurrencies have definitely exceeded all expectations, majorly shaking up the financial sector and causing turmoil among various governments due to tax loopholes.
  • What’s most shocking about bitcoin, however, isn’t the amount of millionaires it has created since its inception, but that the experts state that the value is nowhere near the market cap, which could exceed $100,000 within the next decade!
  • Only time will tell…

    According to the Harvard Business Review, “Blockchain technology will have a similar impact on the financial services industry to what the Internet had to media.”

  • While this has little to do with blockchain technology, it’s proof that many of us now regard “physical cash” as a burden.
  • Spectre, the disruptive platform that removes financial brokers out of the equation and decentralizes and tokenises the liquidity pool against which traders trade, is an example of the decentralization benefits of the blockchain, and why many traders are choosing cryptocurrencies over more “tradtional” investments, such as stocks and bonds.

It’s been a crazy year for bitcoin. Not only has it comfortably surpassed the $4,000 mark, it’s now accepted by a variety of major online retailers – eve…
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Everybody Is Talking About Blockchain, And Here Is Why You Should Care

Everybody Is Talking About #Blockchain, And Here Is Why You Should Care | HuffPost

  • Now, it’s very important to point out the fact that Bitcoin, and other currencies like Ether and Litecoin, are based on blockchain technology.
  • That doesn’t work well with currencies, and that’s the “double spending” problem Bitcoin and other digital currencies solve with something called “mining,” a complex process that verifies and adds transactions to a public ledger.
  • The Harvard Business Review describes blockchain as a foundational technology that has “the potential to create new foundations for our economic and social systems.”
  • A World Economic Forum report predicted that by 2025, ten percent of global GDP will be stored on blockchains or blockchain-related technology.
  • The First Aspect Of Blockchain – The Money Part

    To say that they are disrupting the traditional VC funding model would be an understatement.

New technologies with all kinds of interesting names are popping up every day, but few of them are as hyped as the word “blockchain.” This technology has…
Continue reading “Everybody Is Talking About Blockchain, And Here Is Why You Should Care”

Everybody Is Talking About Blockchain, And Here Is Why You Should Care

  • Now, it’s very important to point out the fact that Bitcoin, and other currencies like Ether and Litecoin, are based on blockchain technology.
  • That doesn’t work well with currencies, and that’s the “double spending” problem Bitcoin and other digital currencies solve with something called “mining,” a complex process that verifies and adds transactions to a public ledger.
  • The Harvard Business Review describes blockchain as a foundational technology that has “the potential to create new foundations for our economic and social systems.”
  • A World Economic Forum report predicted that by 2025, ten percent of global GDP will be stored on blockchains or blockchain-related technology.
  • The First Aspect Of Blockchain – The Money Part

    To say that they are disrupting the traditional VC funding model would be an understatement.

New technologies with all kinds of interesting names are popping up every day, but few of them are as hyped as the word “blockchain.” This technology has…
Continue reading “Everybody Is Talking About Blockchain, And Here Is Why You Should Care”

The Exchange Announces a Blockchain Exploration Opportunity

The Exchange Announces a #blockchain Exploration Opportunity

  • MEMPHIS, Tenn., April 13, 2017 /PRNewswire/ — The iconic Merchant Exchange Building in Memphis, Tennessee, joins international efforts in advancing new financial technologies.
  • The Exchange Project team, in partnership with The FedEx Institute of Technology, is spearheading a workshop on blockchain technology on May 15th and 16th at 365 Innovation Drive, Memphis, Tennessee.
  • The spirit of innovation and entrepreneurship that laid the foundation for the Exchange Building has been revitalized in emerging sharing economy financial technologies.
  • Eric Matthews, Founder and CEO of StartCo in Memphis, says The Exchange Building has been an important enabler of the technology startup ecosystem by providing teams landing in Memphis from around the world flexible and affordable housing.
  • The Exchange Project takes this spirit of innovation to a new level by development of distributed ledger technology applications and promoting local adoption of crypto-economic business models.

MEMPHIS, Tenn., April 13, 2017 /PRNewswire/ — The iconic Merchant Exchange Building in Memphis, Tennessee, joins international efforts in advancing new financial technologies.  The Exchange Project team, in partnership with The FedEx Institute of Technology, is spearheading a workshop on blockchain
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HK fintech company Credit China Fintech invests $30 million in blockchain provider BitFury Group

HK fintech company Credit China Fintech invests $30 million in BitFury Group

  • As part of the deal, Credit China Fintech will invest $30 million in BitFury shares and the setting up of the joint venture.
  • Blockchain infrastructure provider BitFury Group announced on Thursday a deal with Hong Kong-listed fintech company Credit China Fintech Holdings to set up a joint venture that will focus on promoting the technology in China.
  • BitFury Group provides hardware and software around blockchain technology and this will be its first major venture in China.
  • Phang Yew Kiat, vice chairman and CEO of Credit China Fintech, told CNBC by email the company was exploring the use of blockchain on some of its fintech platforms, which include peer-to-peer lending and payments services.
  • Blockchain refers to the technology underlying the crypto-currency bitcoin and works like a huge, decentralized ledger that records every transaction made on the chain.

Blockchain service provider BitFury Group announced a $30 million joint venture deal with Credit China Fintech.
Continue reading “HK fintech company Credit China Fintech invests $30 million in blockchain provider BitFury Group”

HK fintech company Credit China Fintech invests $30 million in blockchain provider BitFury Group

  • As part of the deal, Credit China Fintech will invest $30 million in BitFury shares and the setting up of the joint venture.
  • Blockchain infrastructure provider BitFury Group announced on Thursday a deal with Hong Kong-listed fintech company Credit China Fintech Holdings to set up a joint venture that will focus on promoting the technology in China.
  • BitFury Group provides hardware and software around blockchain technology and this will be its first major venture in China.
  • Phang Yew Kiat, vice chairman and CEO of Credit China Fintech, told CNBC by email the company was exploring the use of blockchain on some of its fintech platforms, which include peer-to-peer lending and payments services.
  • Blockchain refers to the technology underlying the crypto-currency bitcoin and works like a huge, decentralized ledger that records every transaction made on the chain.

Blockchain service provider BitFury Group announced a $30 million joint venture deal with Credit China Fintech.
Continue reading “HK fintech company Credit China Fintech invests $30 million in blockchain provider BitFury Group”