Blockchain
ICE71 Accelerate unveils third cohort of promising start-ups to spur cybersecurity innovation in Asia
Ten cybersecurity start-ups are the latest graduates of the Innovation Cybersecurity Ecosystem at BLOCK71‘s (ICE71) Accelerate programme, which has empowered and supported 25 companies since it launched in March 2018. At the third ICE71 Accelerate Demo Day, the start-ups pitched to more than 150 investors and cybersecurity leaders from several countries to seek funding and business development opportunities.
Founded by Singtel Innov8, the venture capital arm of the Singtel Group, and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), and supported by the Cyber Security Agency of Singapore (CSA) and the Infocommunications Media Development Authority (IMDA), ICE71 aims to strengthen Singapore’s growing cyber security ecosystem by attracting and developing cybersecurity start-ups with innovative competencies and new technologies.
The start-ups come from diverse backgrounds, originating from seven countries, including Singapore, Australia, Bulgaria, France, India, Nepal and New Zealand. They offer a broad range of cybersecurity solutions that are applicable to consumers, enterprises and governments. Several of them have completed their proof of concept and secured lead customers across different countries. (Information on the ten start-ups can be found in Annex A).
The current batch of start-ups builds on the success of the previous two ICE71 Accelerate cohorts. Many of the start-ups have since raised additional funding, secured new business and expanded internationally. For example, 689Cloud announced last month that it is partnering with Ricoh of Japan to provide its document security technology for Ricoh’s new “RICOH Doc Trace” service. Another start-up, Keyless, which offers a privacy-first biometric authentication and personal identity management platform, has raised US$2.5 million in funding to date from leading venture capitalists in Singapore, Switzerland and the United States. Keyless is building a privacy-first biometric authentication and personal identity management platform. Both 689Cloud and Keyless are from the second cohort of ICE71 Accelerate.
Professor Freddy Boey, NUS Deputy President (Innovation and Enterprise), said, “With an existing vibrant cybersecurity community on campus, NUS continues to expand the cybersecurity ecosystem by creating platforms for business development, networking and learning through ICE71’s programmes and community events. By guiding and connecting our start-ups with investors and other corporates, we hope to accelerate their growth and further develop the cybersecurity ecosystem of start-ups, accelerators, lead demand drivers, government bodies, and institutes of higher learning. We look forward to attracting more cybersecurity entrepreneurs, academics and start-ups from around the world in future cohorts.”
Mr Edgar Hardless, CEO of Singtel Innov8, said, “The growth of the cybersecurity ecosystem has created a fertile environment for start-ups, and we’re pleased to see next-generation ideas and innovations being developed right here in the region. By providing access to valuable resources such as mentorship, investment, partners and customers, and Singtel’s own cybersecurity capabilities, we enable start-ups to go to market and scale to the next level, both locally and internationally. We welcome the talent and energy that each cohort brings with them, and look forward to supporting many more future innovators.”
To deliver the accelerator programme, ICE71 works with CyLon, a dedicated cybersecurity accelerator, originating from London, to support the start-ups in their growth both locally and internationally.
Mr Jonathan Luff, co-founder of CyLon, said, “Singapore is rapidly developing into a global cybersecurity hotspot, as demand increases in the region for sophisticated security products. At CyLon, we are seeing more and more talent emerge from Asia, and the third ICE71 cohort is no exception. Here we have ten new companies building products to keep the region safe and secure. We are confident that the market for cybersecurity products in Asia will continue to grow at speed, and we look forward to working with more exceptional founders in the future.”
After Demo Day, ICE71 will continue to guide and support these start-ups through further fundraising, and commercial expansion. It will also provide access to community events with ecosystem partners, thought leadership programmes, engagements with enterprises and government entities, and opportunities to present at regional cybersecurity conferences.
Applications are now open for ICE71 Accelerate Cohort 4 (taking place from 24 February to 22 May 2020). Interested start-ups and cybersecurity entrepreneurs can find more information at https://ICE71.sg.
SOURCE ICE71
Blockchain
Alpha Transform Holdings Releases March Report on ASC AI Index
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Blockchain
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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