Latest Articles

International Communications Companies Deploy Blockchain-Based Security Solution for Mobile Users

This month, mobile security solution provider Rivetz and Spanish carrier Telefónica announced an agreement to collaborate on the development of advanced mobile security protocols for blockchain-based transactions and messaging.

The two companies plan to leverage dual encryption, supporting both the Trusted Execution Environment (TEE) embedded by multiple device manufacturers and the advanced encryption on SIM cards deployed by Telefónica.

"Trusted computing technologies are not an end by themselves, but are an opportunity to improve mobile users' security, providing a research and innovation framework in the context of cybersecurity," said Sergio de los Santos, head of the Discovery and Innovation Lab at Telefónica’s cyber security unit ElevenPaths, according to the announcement.

Telefónica is one of the largest carriers in the world by market capitalization and number of customers. The company has a global presence, which is especially strong in Spain, Europe and Latin America. 

"Blockchain access and secure messaging are core building blocks to automating the user experience when it comes to digital services," said Steven Sprague, CEO of Rivetz, per the announcement. "We're honored to partner with Telefónica to explore how to fully leverage the embedded cybersecurity technologies of mobile to deliver next-generation data services and business models to enhance the quality of subscriber relationships."

Rivetz is a technology company that provides digital security solutions and services using hardware-based trusted execution technology.

“Rivetz is the gateway for developers to include trusted hardware within their applications,” according to a Rivetz blog post.

The company describes itself as a facilitator, focused on making it simple for developers to use a Trusted Execution Environment (TEE). Since a TEE is designed to be secure and unique to each device, it can be used to identify a personal device with military-grade assurance. According to Rivetz, over 2.5 billion devices already have a TEE.

“By using the TEE that has been designed to hold secrets, we can let people keep track of their devices and let the devices remember credentials, securely,” claims the Rivetz post. “You sign into your device, and your device will sign you into your applications.”

Rivetz is initially focusing on the Android platform, which as of mid-2017 had an 87.7 percent share of global sales to end users. Through a partnership with Trustonic, Rivetz has special access to the TEE inside Android phones with ARM’s TrustZone.

The joint press release emphasized that the global rise of distributed ledger technology (DLT) and Internet of Things (IoT) applications requires a decentralized cybersecurity model, and this collaboration will provide state-of-the-art cybersecurity protections by combining advanced network security services, provided by ElevenPaths, with Rivetz's trusted computing and DLT solutions. The project will use split-key encryption across the hardware and the SIM.

Rivetz and Telefónica will use both DLT and trusted computing technology to provide cybersecurity controls and protection to hold multiple cryptocurrencies, assuring that the digital assets and processes are protected within a device's hardware. Later this year, the enhanced solution developed by Rivetz and Telefónica is expected to be integrated into Rivetz's existing application developer solution and made available to selected partners.

The system will also use Rivetz Tokens (RVT), utility crypto-tokens now available on the Bancor network, to enable provable controls for data compliance through DLT.

A Former CFTC Chairman’s Plan for Federal Crypto Regulation

Timothy Massad, the former chairman of the Commodity Futures Trading Commission (CFTC), has outlined a case for better (read: stricter) federal crypto asset regulation in a substantial report for the Brookings Institute, “It’s Time to Strengthen the Regulation of Crypto-Assets.”

Square to Hire Full-Time Team of Open-Source Bitcoin, Crypto Contributors

Source: Twitter

Jack Dorsey, founder and CEO of social media giant Twitter and mobile payments company Square, announced that he is hiring a handful of full-time employees for the latter who will work on open-source contributions to the Bitcoin and cryptocurrency ecosystem. He added that the work done by this team, made up of three or four engineers and one designer, will be independent of Square's business objectives and all resulting work will be open and free.

Will #DeleteCoinbase Hurt Cryptocurrency Adoption?

There has been no shortage of news regarding trust issues in the cryptocurrency sphere. For example, the recent death of QuadrigaCX CEO Gerry Cotten revealed that he personally held the keys for the company’s reserves and they were lost, leaving platform users dependent on the Canadian justice system for a solution.

Huobi Introduces Coin Launch Platform

Source: Huobi

The Singapore-based cryptocurrency exchange Huobi has announce that "Huobi Prime," a coin launch platform, will go live on March 26. The service will allow professional and retail investors to purchase new cryptocurrencies before they are listed more broadly and potentially at lower costs. The announcement appears to compete with Binance's Launchpad service.