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Critical readWhat happened. Uber Technologies Inc., known for its innovations in logistics of transportation, has proposed a new investment strategy based on blockchain. This decision is due to the desire to increase returns on its own funds without significantly investing resources in cash.
The ride-hailing company has introduced a new investment strategy based on blockchain that could be replicated by many other companies in the future. The significant change in strategy by Uber is due to collaboration with HSBC Holdings Plc, Tradeweb Markets, and Fireblocks. These partners have enabled the transition to the technology of blockchain, allowing the company to use tokenized deposits (they represent digital bank funds) on blockchain cards.
In the design of the strategy, the company opted for liquidity channels and terminal sectors. The results of this operation were very positive, as Uber was able to obtain an additional 1.5-day return compared to traditional Sunday deliveries when banks and markets close. This blockchain investment strategy is just one example of a more general approach that many large entrepreneurs are trying.
Recently, nearly forty firms have executed stock transactions and credit rates, postponing guarantees while respecting margin requirements. The amount of tokenized assets up to that point is minimal compared to traditional markets: around $40 billion of assets have been tokenized, but these figures are not significant in comparison to traditional financial markets. This blockchain investment strategy by Uber is not the only attempt it has made in its innovative career.
The company was also involved in the Diem stablecoin project, which did not reach its main objective, but provided a basic technique for the future. Manish Kohli, global head of payments at HSBC, emphasized the
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