Tag: identity

Abu Dhabi Global Market (ADGM) recently announced the successful completion of the first phase of a blockchain-based electronic-Know-Your-Customer (e-KYC) utility project. According to the press release published on December 4, 2018, the e-KYC had significantly simplified and improved the KYC process by providing an immutable audit trail. e-KYC Project Demonstrates Tangible Benefits The e-KYC project was a Financial Services Regulatory…

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Lufax, China’s leading peer-to-peer lending and wealth management platform, has hinted its working on integrating distributed ledger technology (DLT) into its operations to reduce cost and increase transparency, reported The South China Morning Post on November 2, 2018. Lufax Joining the Blockchain Movement Per sources close to the matter, Lufax has reportedly declared that it will be integrating blockchain technology…

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Sierra Leone, the UN Capital Development Fund (UNCDF), the UN Development Programme (UNDP) and leading international non-profit Kiva, have recently partnered to launch a national digital identification system. According to a press release published on September 28, 2018, the new initiative will provide Sierra Leone’s seven million citizens a formal digital identity and control over their personal credit information. Unlocking…

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Crytpo-fueled web browser Brave and the DLT-powered digital identity platform, Civic, have decided to work in unison to bring the latter’s KYC services to publishers on the BAT-funded web browser. Per a September 21, 2018, dated announcement during the Consumer Identity World in Seattle, verified publishers on the Brave platform will now have the option to use Civic’s KYC and…

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In a bid to become the Facebook of the crypto sector, Coinbase, the world’s largest exchange for buying and selling digital currencies, announced the acquisition of Distributed Systems, a three-year-old startup building identity standards for dApps known as the clear protocol on August 16, 2018. The Distributed Systems team, lead by Nikhil Srinivasan, will help Coinbase to form a Facebook-style…

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Indiana video games and virtual economies University Professor Edward Castronova published a whitepaper in 2016 about the nature of video games and the future of work. While the gaming industry is one predominantly for leisure, Castranova argued that video games will have a significant impact on the future of work as it will act as a haven for low-skilled workers…

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Ethereum cofounder Joseph Lubin has stated that the world’s second largest blockchain network offers a lot more than merely transfer of value through cryptocurrency. Speaking to LiveMint during a July 23, 2018, visit to India, Lubin said that Ethereum is the only genuinely decentralized network apart from bitcoin and that it offers a world of possibilities in India including cloud…

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The Digital Transformation Agency (DTA), an Australian government division that facilitates government information and services online, will explore new ways in which blockchain technology can deliver government services, given the AU$700,000 ($525,710) allocated in the 2018-19 budget. To start with, DTA will spearhead its study with an aim to bring into play blockchain technology for distribution welfare payments. The government…

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Concerns over data privacy have risen over the past few years, with Facebook’s recent data breach scandal only confirming the grave expanse of the problem. As proved, social networks have become an indispensable part of the average person’s routine, regardless of the vast amounts of data the companies collect. An upcoming company is aiming to solve this issue using the…

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Widely-regarded as a game changer, the blockchain finds itself new use-cases seemingly every day, permeating as much more than a mere cryptocurrency feature. While its most obvious implementations may be that of making supply chain or financial markets more accountable and efficient, several projects prove otherwise, using the blockchain to track tuna or dispense beer. Bahrain’s Blockchain Push On May…

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