Its Thursday evening and you are back at it again staring at the charts. You are sitting there pondering to yourself, why is the price dropping again and why did I go all in at $15,000. At the time of…
Fraudsters are increasingly using cryptocurrency in money laundering activities around the world. In an effort to help combat that activity, cyber-security startup CipherTrace announced its Cryptocurrency Anti-Money Laundering (AML) Compliance Solution on July 3.CipherTrace is led by CEO Dave Jevans, who is well-known in the cyber-security industry as the chair of the Anti-Phishing Working Group (APWG) and was formerly the founder of USB hardware security vendor Ironkey, which was acquired by Imation in 2011. With CipherTrace, Jevans has built a platform that makes use of advanced analytics and fraud detection techniques to help financial institutions and cryptocurrency exchanges combat money laundering.”We have seen a dramatic increase in cryptocurrency money laundering in 2018 so far,” Jevans said. “We’ve already tripled 2017, and we’re only halfway through the year.”
After four years at the helm of Messenger, David Marcus will be leaving the team to lead a small group of Facebook employees to explore what blockchain technologies can do for the social media giant.
In a post on Facebook, Marcus noted that he would be “starting from scratch” in these efforts surrounding blockchain tech. His departure from Messenger comes alongside a major organizational restructuring up top at Facebook that saw the roles shift of many key executives at Facebook.
Marcus is notably on the board of directors at the cryptocurrency exchange Coinbase, so this won’t be his first foray into blockchain. Marcus will be joined by Instagram’s Kevin Weil in this new endeavor, Recode reports.
Large institutional financial organizations are continuously exploring and embracing blockchain technology.
Details of a patent filing by JPMorgan Chase & Co. was published by the U.S. Patents and Trademark Office on Thursday, which was originally filed by the bank in October of last year and lists how the leading investment bank plans to utilize the distributed-ledger-based system. It plans to use the system to record payments sent from one bank to another using a peer-to-peer network. The filing goes on to explain the abstract as follows:
Nokia is testing its own commercial blockchain for enterprise applications.
Nokia could become a rival to IBM’s blockchain for enterprise application and healthcare services.
Blockchain is an incorruptible decentralized ledger for any digital transactions. It has no single point of failure and cannot be controlled by one entity.
Nokia has also launched a blockchain-powered Sensing-as-a-Service service for telecom companies to monetize environmental data gathered from smart devices.
Like IBM’s Watson, Nokia also has a cognitive computing platform called AVA.
Here’s where blockchain comes into play. In the past we have focused on data in a particular server or database that needs to be secure. This remains true today no matter what. However what about data that is on a sensor? What if competitors can get access to sensitive data about machinery and confidential processes information? That could create havoc in business.
Many are now seeing blockchain as a viable means to secure the Internet of Things (IoT). This could be a marriage made in data heaven.
Most people associate the virtual shared ledger known as blockchain with bitcoin, a trendy digital currency built on the technology. Federal agencies, however, are thinking about blockchain applications that have nothing to do with trading money.
Those in the federal sector who monitor emerging innovations believe blockchain could revolutionize the way the government operates in nearly every arena, including health information, federal grants, personnel files, procurement and identification.