Blockchain
RKVST Launches RKVST Free and RKVST Team SaaS Supply Chain Integrity, Transparency and Trust Solution
Green aerospace company SATAVIA chooses RKVST Team to provide immutable evidence trails for aviation industry carbon offsets
CAMBRIDGE UK, SANTA CLARA Calif. – 30 August 2022 – RKVST, a leading provider of supply chain integrity, transparency and trust, announces a Free and subscription-based Team tier of its award-winning enterprise SaaS solution, allowing organisations of any size to collaborate on and share data in near real-time, confident in the trustworthiness of that data.
The RKVST platform removes the hassles, mistakes and risk associated with the manual processes and paperwork involved in sharing data across organisations, enabling all partners in the supply chain to collaborate and work with a single source of truth. RKVST does this by capturing the identity of sources and origin of data, enforcing sharing and visibility rules with strong cryptography, and underpinning that with distributed ledger technology that prevents forgery, back-dating or shredding of evidence. Together, provenance, governance and immutability bring the right level of trust in data for faster, confident decisions with lower business risk for organisations.
Jon Geater, chief technology and product officer at RKVST, says:
“With the RKVST Free tier, we are making our award-winning enterprise blockchain accessible to the mainstream market. Delivering integrity, transparency and trust to digital supply chains is now available to everyone with a single API call or a single click. RKVST ensures that the right data gets to the right place at the right time, matching the speed and complexity challenges of today’s digital infrastructure and delivering the continuous assurance required for zero trust architecture.”
Cost and complexity have traditionally been barriers for unifying supply chain operations, making them the preserve of large government agencies and enterprises, and where small suppliers are often left out. This creates blind spots that increase security and business risks for the entire supply chain as well as significant amounts of human resource spent auditing and validating partner data. RKVST is changing all of that by delivering a range of service options to suit organisations of every size. RKVST Free provides DevOps and R&D professionals with a try-before-you-buy option, and a free-forever service for small businesses. RKVST Team employs a pay-as-you-grow model for increased asset capacity, more features and more users per account tenancy.
Green aerospace company SATAVIA is using RKVST to provide transparent continuous asset assurance for the complex and often opaque carbon offset market in the aviation industry. By enabling aircraft operators to forecast, prevent, quantify and offset surface warming caused by aircraft-generated condensation trails or contrails, aviation’s per-flight climate impact can be reduced by up to 60%. SATAVIA started out using RKVST Free, transitioning to RKVST Team as their user and asset capacity needs increased.
Dr Adam Durant, chief executive officer, SATAVIA, says:
“SATAVIA’s ClimateTech platform DECISIONX:NETZERO optimises aircraft flight plans for contrail prevention and quantifies climate benefit in terms of avoided surface warming. Immutable storage of flight-by-flight data, with clear oversight of provenance and governance, is a central requirement of climate benefit accounting. We’re pleased to be working with RKVST to solve these technical challenges, leveraging data integrity for climate-positive activity.”
The launch of RKVST Free and RKVST Team comes at a time when the push to adopt solutions that build trust and transparency is moving with unprecedented speed. The U.S. Executive Order 14028 highlights the need to transition to a zero trust mindset with supply chain transparency and trust as major pillars. The Internet Engineering Task Force (IETF) has established a new working group focused on the issues of supply chain integrity, transparency and trust, and the latest cybersecurity review from the U.K.’s National Cyber Security Centre highlights the serious threats posed by supply chain attacks.
About RKVST
RKVST enables organizations to collaborate confidently and securely with partners, tracking physical and digital assets, reducing operational costs and increasing business resiliency. Customers use RKVST to provide integrity, transparency and trust for digital supply chains, solving challenges ranging from nuclear waste tracking and compliance in construction and other industries, to zero trust connected devices and software bill of materials (SBOMs). The RKVST software-as-a-service (SaaS) captures the identity of sources and origin of data, enforces sharing and visibility rules with strong cryptography, and is underpinned by distributed ledger technology that prevents forgery, back-dating or shredding of evidence. This zero trust approach, continuously verifying then trusting data, enables organizations to make confident business decisions based on verifiable data with real-time context. To learn more, visit RKVST.com.
Media Contacts
Liz Harris, vice president of marketing at RKVST
[email protected]
Tracey Treanor or Peter Rennison, PR for RKVST (UK and Europe)
[email protected] / [email protected]
+44 (0)1442 245030
Source: RealWire
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
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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
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Blockchain
Crypto and Blockchain Weave Deeper Into the Biometrics Space – Identity News Digest
AuthID Inc. has formed a strategic partnership with the National Notarial Centralized Verification System (NNCVS) to integrate biometric identity verification into NNCVS’s online notary platform. NNCVS, a provider of nationwide online services for notaries, aims to transition from a local, in-person framework to a more secure, digital model. By leveraging AuthID’s platform, NNCVS will authenticate the identities of notarial agents and their clients using biometric checks that compare selfies with ID document photos. This enhancement ensures heightened security throughout users’ interactions with the service.
iVALT has introduced a mobile app called OnDemandID, designed to enable users to verify the identity of individuals during phone calls, video calls, or online interactions with a single click. The app employs multiple verification elements, including biometrics, device ID, and location-based parameters like geofencing and time windowing, to prevent deepfake attacks and identity fraud. OnDemandID prioritizes user privacy by storing biometric data locally on the device and refraining from tracking user movements. Additionally, iVALT offers integration into existing enterprise mobile apps, providing a solution to enhance caller verification processes within corporate environments.
Keyless, a company specializing in secure facial recognition, has partnered with EnQualify, an AI-powered Know Your Customer (KYC) verification provider, to enhance online identity verification. Keyless’s privacy-centric ZKB technology will integrate with EnQualify’s AI for initial user verification, enabling a seamless and secure authentication process. This collaboration eliminates the need for repetitive steps and data storage, offering a faster and more user-friendly verification experience while ensuring robust security measures.
Australian fintech Waave has launched its Wallet app to enhance security and convenience for online payments. Integrated with Waave’s Pay by Bank system, Wallet utilizes fingerprint or facial recognition for secure authentication, eliminating the need for passwords and card details. This approach addresses concerns about online fraud, providing a streamlined payment process for consumers and merchants alike. Additionally, Wallet will introduce expense tracking features later in 2024, further enhancing its utility for users.
BeatBit Wellness Lab has introduced the CUDIS ring, a wearable device focused on user-controlled health data management. Powered by Solana blockchain technology, CUDIS tracks biometric data and offers personalized health insights using AI algorithms. Users can contribute anonymized data to a research network and earn rewards, emphasizing data ownership and privacy. The CUDIS ring integrates securely with other Solana and Web3 products, offering users a comprehensive health monitoring solution within the decentralized ecosystem.
Worldcoin has unveiled World Chain, a new blockchain platform designed to prioritize verified human users over bots, aiming to reduce network congestion and transaction fees. Integrated with the Worldcoin protocol’s Proof of Personhood, World Chain provides verified users with priority blockspace and gas allowances. This Layer 2 solution, secured by Ethereum, offers developers access to a large pool of verified users for deploying utility applications. World Chain is set to be open source and permissionless, with plans for community-based governance in the future.
New South Wales (NSW) has launched an Australia-first trial to test digital birth certificates, involving over 18,000 children associated with specific educational institutions. Led by the NSW Registry of Births, Deaths and Marriages in collaboration with the Department of Customer Service, the pilot explores the use of digital certificates with the same legal validity as traditional paper versions. Digital birth certificates aim to simplify administrative tasks and offer enhanced security and convenience, particularly in disaster-prone areas where paper documents could be compromised.
Source: findbiometrics.com
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