Blockchain
Sixgill Launches Integrity, The Blockchain Data Authenticity Solution
Santa Monica, CA, Nov. 19, 2019 (GLOBE NEWSWIRE) — (via Blockchain Wire) Sixgill, LLC, a leader in data automation and authenticity products and services, today announced the commercial launch of Sixgill Integrity™ 1.0 for blockchain-enforced data authenticity.
Sixgill Integrity fulfills the critical enterprise need for end-to-end, real-time data authenticity assurance with robust capabilities to monitor and guarantee the veracity of any data stream, including today’s sensors emitting time-series data in any form.
Integrity provides organizations with absolute assurance that the data they create, transmit, process, act on, and store remains unchanged and tamperproof throughout its lifecycle. In short, Integrity ensures that organizations – including their stakeholders, regulators, clients and others – can truly trust their data, particularly for high-stakes data automation applications.
Blockchain is too slow to achieve real-time operational performance for most mission critical use cases if all the data must flow through the blockchain. Sixgill chose a hybrid, on-chain/off-chain architecture. Integrity ensures that organizations will benefit from the unparalleled security, transparency and immutability of private and public blockchain networks, while using off-chain capabilities for storing, processing, verifying and safely operationalizing vast amounts of data.
Use cases for Sixgill’s new blockchain-secured data authenticity solution span a wide range of industries and needs, including these:
- Healthcare: Permanent auditability, traceability and certainty required for regulatory-grade medical and clinical trial data records
- Supply Chain: Immutable data evidence of authenticity of goods origin and permanent traceability to originating data source(s)
- FinTech: Unalterable transaction records for permanent audit trails
- Utilities: Backbone data integrity for widely distributed infrastructures enabling centrally managed, system-wide programmatic actions triggered by device, data, and contextual rules for operating on data truth
- Insurance: Verified data lifecycle authenticity from smart devices, smart homes, sensor-intensive vehicles, smart buildings, etc. for rate setting and claim settling
- Video Surveillance: Permanent data immutability and auditability for tamperproof video data streams with configurable alerting to any tampering
Integrity’s benefits are already being realized in the healthcare industry. New York and Austin-based Litmus Health – an early pilot adopter – uses Sixgill Integrity in its end-to-end data science platform for clinical research to ensure the immutability of clinical trial data.
“We needed to be able to provide sponsors and, ultimately, the FDA, with an ironclad lineage for their data,” says Dr. Samuel Volchenboum, Chief Medical Officer for Litmus Health. “Implementation of Sixgill Integrity helps ensure that all data is collected, stored and analyzed in an immutable, trackable and auditable way,” says Dr. Volchenboum.
For industries that rely on audit trails, Integrity provides a vital solution for compliance support and defense against data breaches involving electronic records. This can include health information and clinical research data, as well as financial, accounting and billing records, manufacturing design controls, ecommerce sales, IT helpdesk records, university student records, quality assurance and control, 3-D printing and CNC instruction sets, and even voting records.
“In today’s highly digitized and data-intensive world, ensuring the authenticity and integrity of data has become a mission critical concern,” says Phil Ressler, CEO of Sixgill. “Any data compromise whatsoever can have disastrous business, operational, legal, regulatory, or even life-threatening consequences. Sixgill Integrity improves on the unrivaled integrity of blockchain by adding in real-time operational speed and scale that today’s organizations require.”
Sixgill Integrity 1.0 Technical Details
Integrity stands apart from other data security offerings in that it combines the maximum-integrity properties of distributed ledger technology (DLT) with the speed of a modern distributed data system. This is made possible by Integrity’s unique on-chain/off-chain architecture that marries the immutability of private and public blockchains with an off-chain data layer that preserves real-time performance at scale.
By combining DLT and (where possible) Edge computing, Integrity is able to use blockchain and cryptography to completely authenticate data origin and verify data content and chronology.
Sixgill Integrity 1.0 provides organizations with:
- End-to-end data lifecycle immutability
- Permanent and continuous regulatory-grade data auditability
- A powerful, fully configurable rules engine that can define and trigger actions
- Full functionality that is data-, device-, and ledger-agnostic
- A comprehensive dashboard for rules and operations monitoring, with real-time analytics
- Automated real-time alerts of any data compromise
- Device authenticity validation
- Deployment to single tenant private clouds or custom on-premise deployment
- SaaS version coming in 2020
Data Integrity Is An Emerging Enterprise Necessity
The need for data security and authentication has never been greater. The continued rapid expansion of data processing in the cloud makes these complex networks ever more vulnerable to intrusions, while the proliferation of connected devices vastly expands the attack vectors into device networks. Sixgill regards networks as indefensible and assumes bad actors can and will get into any system. Sixgill sees data itself as defensible, with Integrity the result.
Data streams exploding from the Internet of Everything (IoE) can be tampered with, hacked or changed without even the most diligent organizations ever knowing – or not knowing soon enough to avert severe damage. Sixgill Integrity provides the data security backstop that today’s organizations so desperately need.
Contact Sixgill for more information. View or download a Sixgill Integrity product overview here, along with this independent IoT Data Security Market report from Frost & Sullivan, which profiled Sixgill as “a leading provider of IoT data services.”
About Sixgill
Sixgill provides a full suite of universal data automation and authenticity products and services that enable organizations to govern IoE assets. With the Sixgill® product suite, organizations easily acquire, analyze and act on IoE data, at any velocity or scale. Meeting the increasing necessity for end-to-end sensor data management, process automation and analytics for sensor-informed operations, Sixgill offers Sense™ for IoE data enrichment and automation, Sense Vision™ for ML-based camera data intelligence, and Integrity™ for blockchain-based authenticity. HyperLabel™, by Sixgill, is a desktop application for creating, automating, updating, and managing annotated datasets for Machine Learning. To learn more, visit Sixgill.com.
© 2019 Sixgill, LLC. All rights reserved. Trademarks and logos are the property of their respective owners.
Daniel Kehrer | Sixgill, LLC | [email protected]
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Blockchain
ASIC cracks down on blockchain mining firms
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
-
Blockchain4 days ago
Open-Source Intelligence (OSINT) Market is expected to reach a revenue of USD 64.9 Bn by 2033, at 25.6% CAGR: Dimension Market Research
-
Blockchain3 days ago
Blockchain Transforming Travel: Quantum Temple’s Innovative Venture
-
Blockchain Press Releases3 days ago
Bybit and Franck Muller Partner with Sidus Heroes to Launch Cosmic Gears: A Pioneering Web3 Game with a $250,000 Prize Pool and Exclusive Watch Collection
-
Blockchain4 days ago
Bybit and World Leaders Forge Major Alliance to Direct Web3 for Social Good
-
Blockchain2 days ago
Quantum eMotion Files a Patent for Quantum-based Blockchain Wallet Under the Patent Cooperation Treaty (PCT)
-
Blockchain2 days ago
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
-
Blockchain Press Releases1 day ago
Canaan Shines at Blockchain Life 2024 in Dubai
-
Blockchain3 days ago
Evolution of the Blockchain World: Doric Blockchain Drives Education and Adoption of Blockchain Technology and Tokenization in Latin America