In addition to ZTE, we also have news from Quadrant Protocol and two exciting reports about Asian tech ecosystem
ZTE to resume US operations following three-month ban – Reuters
The US Commerce Department announced on Wednesday that it has signed an agreement with Chinese telco equipment maker ZTE that will enable the company to resume operations in the country following a three-month ban on doing business with American suppliers, Reuters reported.
The ban will be removed once ZTE deposits a US$400 million in an escrow account.
Imposed in April, the report named the ban as a source of friction between China and the US, further fuelling trade dispute between the two countries.
ZTE did not immediately responded to a request for comment.
Blockchain company Quadrant Protocol raises US$15M – e27
Singapore-based blockchain company Quadrant Protocol has raised US$15 million in private token sale from more than 30 backers, including Malaysia’s Coin Capital, China’s Zeroth.AI, and Switzerland’s Block0.
With the aim to bring transparency into the data industry, Quadrant provides the infrastructure that facilitates the exchange of DaaS and AI services between organisations.
Quadrant Protocol is owned by global marketplace for commercial data DataStreamX. Backed by Wavemaker Partners, the company recently announced an agreement to collaborate with Singapore’s Info-communications Media Development Authority to implement a commercial AI and microservices layer on DataStreamX, powered by Quadrant Protocol.
Also Read: Today’s top tech news, April 17: US bans sales to Chinese phone maker ZTE for 7 years
Survey: Bankers see Go-Jek as new competitor – The Jakarta Post
A recent survey on digital banking in Indonesia by PricewaterhouseCoopers (PwC) revealed that 72 per cent of Indonesian bankers see ride-hailing giant Go-Jek as an emerging competitor to conventional banks in the payments sector, The Jakarta Post reported.
The report also revealed that 62 per cent of the surveyed bankers named Alibaba’s Alipay and similar services as serious competitors in the near future.
It also revealed that banks employ digital strategy in order to enhance customers’ and employees’ experience; 56 per cent of bankers indicated they had set a more than five per cent revenue target from digital initiatives.
Asian healthtech sector deploys US$3.3B in H1 2018 – e27
Funding in the Asian healthtech sector reached US$3.3 billion across 107 deals in H1 2018, more than US$550 million higher than the full year figure in 2017, according to a new report by Galen Growth Asia.
The total funding grew by 61 per cent compared to H1 2017; this figure excludes the US$1.1 billion IPO by Ping An Hao Daifu (Good Doctor) in Hong Kong in April.
Called the Asia HealthTech Investment Landscape Half Year 2018, the report also predicted that the figure is on track to reach US$5 billion by the end of the year.
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