China’s new index, Ethereum is the top cryptocurrency | Digital Asia

China's new public chain assessment index names Ethereum as top cryptocurrency – Reuters

Chinese government's first Global Public Chain Assessment Index has named Ethereum as the top public blockchain in the cryptocurrency space, according to Reuters.

Meanwhile, Bitcoin, which was known as the original virtual currency, is ranked 13th at the monthly index.

Created and released by the China Center for Information Industry Development, a part of the Ministry of Industry and Information Technology, the index evaluates the technological capability, usefulness of the application, and innovativeness of 28 blockchain projects.

Jack Ma believes that there is a Bitcoin bubble – South China Morning Post

Alibaba Group Executive Chairman Jack Ma announced at the World Intelligence Forum in Tianjin on Wednesday that there is a bubble on Bitcoin, South China Morning Post reported.

“There is no bubble for blockchain, but there's a bitcoin bubble,” he said.

His statement followed a rebound of Bitcoin prices last month following “an injection of serious cash,” according to Bloomberg.

Also Read: Crowdvilla enables you to collectively own and use a holiday home –using Ethereum

Kresna Graha Investama prepares 5 portfolio companies to go public in New York, Indonesia – DailySocial

Indonesian asset management firm Kresna Graha Investama announced on Thursday that five of its portfolio companies are set for an IPO in New York and Indonesia this year, DailySocial reported.

Though the firm declined to name the companies, Managing Director Suryandy Jahja said that its portfolio companies in Indonesia are going to hold a public expose “in two weeks” for their IPO, which is planned to happen after Idul Fitri holiday.

Kresna Graha Investama is known as the backer of M Cash, one of the first two Indonesian tech startups to get publicly listed on IDX. The firm has at least 10 portfolio companies working in the digital industry.

Alibaba Health to expand investments in AI, launch new services – South China Morning Post

Alibaba Group's healthcare flagship Alibaba Health plans to expand investment in artificial intelligence (AI) and launch a new range of services as growth in sales and e-commerce services lifted its revenue in the 12 months ended March 31, South China Morning Post wrote.

The company listed a 414.2 per cent increase in revenue to RMB2.4 billion (US$376.5 million), up from RMB475.1 million yuan a year earlier, with losses narrowed from RMB208.6 million to RMB109 million in the previous year.

Its shares jumped 26.13 per cent to close at HK$5.60 on Thursday.

Alibaba Health CEO Shen Difan attributed the improved financial results to the significant rise in healthcare products sales and the company's e-commerce business.

Also Read: Soon you will be able to use Ethereum to pay drinks at Singapore-based night club Skyline

Indian healthtech startup Mfine raises US$4.2M from Prime Venture Partners – LiveMint

Bangalore-based healthtech startup Mfine has raised a US$4.2 million in pre-Series A funding round led by Prime Venture Partners, with participation of existing investors such as Stellaris Venture Partners and healthcare entrepreneurs Mayur Abhaya, LiveMint reported.

Offering on-demand doctor consultation over video chat on a mobile app, the startup plans to use the new funding to expand its presence in Bangalore and enter new cities in India.

It has raised US$1.5 million from Stellaris Venture Partners, healthcare entrepreneurs Mayur Abhaya, and Rohit M.A. in September last year.

Ola COO Vishal Kaul resigns – TechCircle

Vishal Kaul, chief of operations at Indian ride-hailing giant Ola, has resigned from his position after one year and four months, TechCircle reported.

There was no details mentioned on the reason behind his resignation; Kaul said that he had “moved on to another career opportunity.”

The resignation followed a spate of top level exits from the company in the past one and a half years.

Kaul will be temporarily replaced by senior vice president Pallav Singh.

—

Image Credit: Luca Bravo on Unsplash

The post Today's top tech news, May 18: According to China's new index, Ethereum is the top cryptocurrency appeared first on Tech News.