A Growing Reliance On Data Necessitates Comprehensive Digital Storage Solutions
Technology often allows corporations to reduce costs at scale. For example, cloud computing and cloud data warehouses provide an opportunity to get rid of physical infrastructure. In addition, such solutions provide numerous benefits including instantaneous scalability, performance guarantees, failover support, declining pricing and specialized expertise. The technology is also designed to grow with the business; therefore, storage capacity is automatically scaled up as the user nears its limit. Generally, the cloud data warehouse market is driven by a rising usage of the internet of things and cloud computing, as well as rising demand for data extraction through online analytical processing and massive parallel processing. Overall, the cloud data warehouse market is projected to reach USD 39.1 Billion by 2026 while growing at a CAGR of 31.4% during 2021-2026. TD Holdings, Inc. (NASDAQ: GLG), Infosys Limited (NYSE: INFY), Teradata Corporation (NYSE: TDC), Fastly, Inc. (NYSE: FSLY), Wipro Limited (NYSE: WIT)
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An example of how prevalent cloud data centers have become comes from the NASDAQ index. Nasdaq Inc. said that next year, it plans to begin moving its North American markets to Amazon. com Inc.’s Amazon Web Services cloud-computing platform, the Wall Street Journal reported. Nasdaq’s ambition is to become “one hundred percent cloud-enabled,” Adena Friedman, the company’s Chief Executive Officer, said on Tuesday at an AWS industry conference in Las Vegas. “We will follow with more of our markets as we work closely with clients,” Ms. Friedman said.
TD Holdings, Inc. (NASDAQ: GLG) just announced breaking news that the Company and its wholly owned subsidiary, Shenzhen Baiyu Jucheng Data Technology Co.,Ltd (“BJDT”), have entered into a non-binding letter of intent (the “LOI”) with Shenzhen Meifu Capital Management Co., Ltd.(“SMCM”), a private equity investment management institution and a pioneer in guiding government investment funds in South China, to launch a RMB300 million special fund (the “Fund”) to accelerate development of digital cloud warehouse (the “Project”).
The Project is specifically used to build the Company’s digital cloud warehouse platform, which utilizes the Internet of Things and blockchain technology to record and track the data of commodities warehouse, including inventory, logistics, transaction, and financing to ensure that the data is accurate and valid and cannot be tampered with. For the Company’s e-commerce trading platforms and institutional clients, the Project can provide comprehensive services in warehouse management, data sharing, certificate storage, traceability, and verification, aiming to tackle key industry challenges, such as warehouse data lag and fraudulent warehouse data caused by the imbalanced development of data management in the commodities industry. The Project can lead to an effective digital warehouse management so that improving operating efficiency and reducing the risks and costs of transactions and financing in the commodities industry chain.
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Pursuant to the LOI, the Company, BJDT, and SMCM agree to establish a joint venture fund company with an estimated total size of RMB300 million. The Company and BJDT agree to be responsible for Fund operation and contribute 20% to the Fund’s registered capital, while SMCM agrees to contribute 80% to the Fund’s registered capital. Both parties agree to appoint managers and professionals to the new company to manage the fund.
Ms. Renmei Ouyang, the Chief Executive Officer of the Company, stated, “We are excited to establish the special fund of RMB300 million with SMCM and this is the start-up stage of our growth plan. We will increase the investment of the Fund accordingly based on the development of the Project, and we expect the size of the fund will exceed RMB10 billion in the next 3-5 years. In the meantime, we plan to accelerate the construction of domestic and overseas digital cloud warehouses, strengthen the research and development of smart technologies, create a digital economy in commodities industry, and promote the Company’s strategic transformation.”
Infosys Limited (NYSE: INFY) announced last month the launch of ‘The Cloud Hub’, a forum offering insights and learning from successful cloud transformations to help global enterprises accelerate their cloud journey. This collaboration will bring together success stories, expertise and experience from a number of leading global brands to demonstrate how value and competitive advantage can be created by adopting cloud technologies. Elizabeth Bramson-Boudreau, CEO and publisher, MIT Technology Review, said, “Our custom content division, MIT Technology Review Insights, generates original research that helps executives make informed decisions about their companies’ tech strategies and investments. We’re excited to co-create The Cloud Hub in partnership with Infosys as we believe companies can benefit immensely from expert guidance as they find their way through the stunningly complex landscape of cloud and digital transformation.”
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