One of the bigger trends in the blockchain world, particularly when it comes to financial services and specifically capital markets operations, has been a need for privacy and confidentiality in the course of daily business. This has meant that blockchain solutions are being designed with this primary need in mind. This has led to all the private blockchain solutions being developed today. http://bravenewcoin.com/news/the-trend-towards-blockchain-privacy-zero-knowledge-proofs/ |
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WISeID is a personal security application for smartphones that gives users control over their personal information. “Only the user determines which identification attributes are shared with social media, credit cards, merchant sites etc,” the company claims. The application, from Geneva-based security giant WISeKey, also acts as an encrypted messenger app, password vault, a secure password generator, and a multi-device data synchronizer on a secure cloud network. To strengthen security, the app requires users to pass a facial recognition check before accessing any sensitive areas. The newest iteration of of the WISeID app, version 6, includes a public blockchain. App users act as peers, and each downloads a copy of the blockchain. Acting as a “dual factor authentication technology that sits on top of a BlockChain,” there is no cryptocurrency or token residing on this ledger, just user data. http://bravenewcoin.com/news/identity-protection-suite-wiseid-6-uses-a-blockchain-for-id-storage-and-validation/ |
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The Internet of Things is evolving into a world of interconnected smart devices that communicate all manner of information. Smart homes can be filled with appliances that can be controlled remotely, while the smart grid promises to dynamically react to power requirements. Cities are also turning smart. Systems already exist for using mobile phones to pay for parking on city streets, video cameras monitor crowd control and safety at large events, and acoustic detection is used by police departments to identify gunfire. The gun itself has a smart progression. Smart guns can identify authorized users with RFID chips, fingerprint recognition, magnetic rings, or mechanical locks. The security features are designed to prevent misuse, accidental shootings, gun thefts, and use of the weapon against the owner. http://bravenewcoin.com/news/blocksafe-wants-to-reduce-gun-violence-with-a-hybrid-iot-blockchain-network/ |
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Deutsche Bank, Santander, ICAP, BNY Mellon, UBS, and Clearmatics recently announced plans to test UBS' Utility Settlement Coin (USC) in a real-world market environment. UBS is the largest Swiss bank by assets, reporting CHF 942,819 million in assets at the end of 2015. The bank also opened its own innovation lab that year, at Europe’s largest technology accelerator and incubator, Level39, in London's Canary Wharf. The lab explores “potential applications for Blockchain and other disruptive digital technologies in financial services,” according to the company's annual report. In May, the bank released a white paper on how the blockchain could transform finance and the world. http://bravenewcoin.com/news/financial-institutions-to-test-utility-settlement-coin/ |
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It’s no secret that crypto-ransomware has become a huge problem for cybersecurity over the last few years. The powerful tools typically encrypt files on an infected computer, and extort a bitcoin ransom from victims. In 2015, the Assistant Special Agent in Charge of the FBI’s CYBER and Counterintelligence Program, Joseph Bonavolonta, said that “the ransomware is that good” that the agency “often advise people just to pay the ransom.” http://bravenewcoin.com/news/ransomware-is-growing-quickly-but-chainalysis-expects-arrests-soon/ |
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Australia’s largest Stock Exchange, the Australian Securities Exchange (ASX), recently published its Annual Report, revealing the company's progress and near-future plans for its blockchain, or Distributed Ledger Technology (DLT), projects. ASX is one of the world’s leading financial markets, with a total market capitalization of around $1.5 trillion. Employing a team of 530 people, their customers include 6.7 million share owners, 180 participants and, according to the annual report, 2,204 listed companies and issuers. http://bravenewcoin.com/news/major-stock-exchange-completes-blockchain-trial-for-replacement-settlement-system/ |
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In Trade Finance there’s a lot of activity. HSBC and Bank of America are working with HyperLedger; R3 is trialling with 15 banks based upon Corda; Ripple is working with Standard Chartered and DBS; and JPMorgan have been developing a trade finance trial with Digital Asset Holdings. These are platforms and industry developments, but there are a number of standout companies developing specific solutions as start-ups focused upon blockchain distributed ledgers for trade finance. In this case, I’m going to pick out five that have grabbed my attention, although there are seven other contenders for the crown. http://bravenewcoin.com/news/five-standout-start-ups-focused-upon-blockchain-trade-finance/ |
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