Blockchain
TON blockchain integration enhances digital asset security
Cobo, a digital asset custody and wallet provider, has announced that it will support The Open Network (TON). This integration brings Cobo’s comprehensive custody solutions to the TON blockchain, including custodial wallets and multiparty computation wallet technology. Through this collaboration, Cobo will integrate TON’s native Toncoin (TON) token, Notcoin (NOT), and stablecoins such as Tether (USDT).
TON Integration
The partnership between Cobo and TON follows a significant influx of Web3 support for the TON blockchain, which powers Telegram’s new advertising platform. The integration aims to enhance the security and flexibility of digital asset management for institutional clients and expand Cobo’s service offerings. Although incorporating the TON blockchain into Cobo’s services can broaden token support for the wallet provider, TON’s multichain architecture and sharding technology present multiple technical challenges.
Regulatory Compliance
Cobo’s platform has a strong regulatory compliance history as a provider of institutional client services. The partnership is strategic, especially since Toncoin was recently approved by the Kazakhstan Financial Services and Regulatory Committee (AFSA). Following this approval, Toncoin joined a list of 107 cryptocurrencies sanctioned by the government of Kazakhstan.
Security Concerns
Despite the success of the TON ecosystem, there has been a rise in phishing attacks on the blockchain. SlowMist founder Yu Xian highlighted that the Telegram ecosystem is “too free,” with phishing links spread through the platform’s message groups, airdrops, and other deceptive methods. Although the Telegram messenger typically requires phone numbers for account setup, Xian noted that phishing risks are higher for users with anonymous numbers, as their accounts are not linked to SIM cards and can be lost if targeted by bad actors.
The integration of Cobo with TON, alongside regulatory approvals and enhanced security measures, represents a significant step forward in the digital asset management landscape, aiming to balance innovation with user protection.
Source: tradingview.com
The post TON blockchain integration enhances digital asset security appeared first on HIPTHER Alerts.
The fintech industry is at the forefront of technological innovation, with artificial intelligence (AI) and machine learning (ML) playing a pivotal role in driving this transformation. To remain competitive and meet the evolving demands of consumers, fintech companies must adopt advanced AI/ML-powered models.
The Role of AI/ML in Fintech
AI and ML technologies have the potential to revolutionize various aspects of fintech operations, including:
- Fraud Detection: AI/ML models can analyze vast amounts of transaction data in real-time to identify and prevent fraudulent activities.
- Customer Service: AI-powered chatbots and virtual assistants can provide personalized customer service, improving customer satisfaction and reducing operational costs.
- Risk Management: ML algorithms can assess and predict risks more accurately, enabling better decision-making and risk mitigation.
- Credit Scoring: AI/ML models can analyze alternative data sources to assess creditworthiness, providing more accurate and inclusive credit scoring.
Benefits of Advanced AI/ML Models
Adopting advanced AI/ML models offers several benefits for fintech companies:
- Improved Efficiency: Automating routine tasks and processes can significantly improve operational efficiency and reduce costs.
- Enhanced Accuracy: AI/ML models can analyze data with greater accuracy and speed, leading to more informed decision-making.
- Personalized Services: AI-powered solutions can provide personalized services and recommendations, enhancing the customer experience.
- Scalability: AI/ML models can scale easily to handle increasing volumes of data and transactions, supporting business growth.
Challenges and Considerations
Implementing advanced AI/ML models also presents challenges, including:
- Data Quality: Ensuring the availability of high-quality data is crucial for the effectiveness of AI/ML models.
- Regulatory Compliance: Navigating regulatory requirements and ensuring compliance with data privacy and security standards is essential.
- Integration: Integrating AI/ML models with existing systems and processes can be complex and resource-intensive.
- Talent and Expertise: Accessing skilled talent and expertise in AI/ML is critical for successful implementation and management.
Conclusion
The adoption of advanced AI/ML-powered models is essential for fintech companies to stay competitive and meet the evolving needs of consumers. By leveraging the power of AI/ML, fintech companies can enhance efficiency, improve accuracy, and provide personalized services, driving innovation and growth in the industry.
Source of the news: New Indian Express
The post Fintech Needs to Adopt Advanced AI/ML-Powered Models appeared first on HIPTHER Alerts.
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