Today In Data

Today In Data: Blockchain Investments, Cannabis Marketplaces And EDIs’ Decline

Today in PYMNTS’ data, investors are still backing blockchain technology despite an ongoing wave of skepticism, growing cannabis use is resulting in the need for online marketplaces for eCommerce purchasing, integrated treasury management may be the future for large financial institutions (FIs), electronic data interchanges (EDIs) may be on the way out and a large portion of online financial product applications go unfinished.


Here are the numbers:

$2.25 million | Amount that blockchain firm Kadena, created by two JPMorgan Chase developers in 2016, received in fresh investor support this week. Metastable, Kilowatt Capital, Coinfund and Multicoin Capital provided the pre-Series A funding for the blockchain company, all of which came amid a wave of skepticism regarding the technology.

450 | Number of distinct cannabis products, available from more than 60 cannabis brands, that shoppers can peruse on the Eaze logistics marketplace for marijuana users. The marketplace is for the products, not the sellers, and Eaze is the matchmaker connecting customers to dispensaries.

90+ percent | Percentage of large banks that believe integrated treasury management is important to future growth. At the same time, 42 percent reported they wanted to implement such solutions, but only 1 percent had actually done so, according to data from cloud application program interface (API) integration platform provider Cloud Elements.

85 percent | Portion of companies that were still using EDIs in 2015, according to a survey conducted by supply chain and logistics business intelligence company eft. The numbers come despite 43 percent of those surveyed admitting they were frustrated with the tool, and though 57 percent claimed they were not frustrated, eft noted “there is a strong sense that [EDIs’] days are numbered.”

40 percent | Percentage of online applications for FIs that are not finished, according to statistics from identity verification solutions provider Jumio. As many as four in 10 consumers have, at some point, in their journey into online banking found the process frustrating enough to give up, as estimated by identity assurance provider Signicat. The survey was conducted across 2,000 individuals and found 45 percent of consumers have walked away from the process in the past year, up from 26 percent.



Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border.

Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.