Here’s what you should know today.

1. plans 5 new warehouses to strengthen infrastructure

Fresh off celebrating its first anniversary in Indonesia, the Chinese ecommerce giant is now planning to launch 5 new warehouses in the country.

It is also planning to launch new verticals on the site, including movie and plane tickets.

“What makes our business model unique is that we do more than just selling and buying; we also build an infrastructure. Promos and discounts are merely gimmicks, an entry point for customers to try shopping in our platform,” says Teddy Arifianto, head of corporate communication.

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2. Singapore’s central bank is ready to use the blockchain for inter-bank payments

The Monetary Authority of Singapore (MAS) announced that it has completed a proof-of-concept trial of using distributed ledger technology (DLT – of which the blockchain is a type) to power domestic inter-bank payments.

Next, MAS wants to try to improve investment trading and settlement periods with the help of DLT. It also wants to take payments using digital currency cross-border.

It is also currently talking to other countries to enable digital currency payments to be settled through central bank accounts.
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3. Recommended Reading: What went wrong at BCBG Max Azria

By way of explaining its Chapter 11 protection filings, BCBG said on February 28 that online shopping and changing consumer tastes were responsible for its decline,

“Like so many other great brands, BCBG has been negatively impacted by the growth in online sales and shifts in customer shopping patterns and, as a result, has too large a physical retail footprint. In order to remain viable, the company — like so many others in its industry — must re-align its business to effectively compete in today’s shopping environment,” wrote spokesperson Seth Lubove in an email to RetailDive.

Another problem was that BCBG was overstored. It had approximately 600 boutiques around the world, and not the same margin they once did.

Read the rest of the story here.


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