Blockchain
Unbound and KeyFi Form Strategic Partnership to Redefine Crypto Key Management for Non-custodial Pooling of Digital Assets
Unbound Tech, global leader in cryptographic key management and protection, today announced that it has entered into a strategic partnership with crypto-asset security startup KeyFi, Inc. (“KeyFi”) to develop specialized software and services using secure multi-party computation (MPC).
The initial solution released under this partnership enables institutional-grade key management for continuous and automated staking of the QTUM cryptocurrency and will quickly expand to support other crypto assets and value-added services. As part of this relationship, Unbound and KeyFi are also announcing the first of many native DeFi MPC modules for Unbound Tech: non-custodial stake-pooling for groups of distributed, trustless participants through shared vaults.
KeyFi will release the first version of its key management platform in Q2 2020 with a consortium of partners including Celsius Network and Monarch Wallet. KeyFi’s platform, built upon new developments in Unbound’s Crypto Asset Security Platform (CASP) enables users to securely manage their keys, while at the same time offering rails for an array of value-add DeFi services. By combining the low cost of MPC-based self-custody with the value created by seamlessly accessing DeFi services such as staking, lending, and derivative products, KeyFi customers will be able to significantly increase the potential lifetime value of holding a coin while simultaneously reducing their cost and complexity of custody.
“For too long, secure key management has been a problem that has hindered the widespread adoption of digital assets such as cryptocurrencies,” said Professor Yehuda Lindell, CEO and Co-Founder of Unbound Tech. “The traditional means of safeguarding private keys that control these assets have proven to be cumbersome, insufficiently flexible or difficult to implement at scale. Unbound’s CASP, in partnership with KeyFi’s enterprise solutions, will enable users to more easily add digital assets to our MPC-based platform while also utilizing DeFi services such as staking.”
“KeyFi was formed for two reasons,” said Cindy Zimmerman, Co-founder and Lead Security Engineer of KeyFi. “First, to support projects that want professional investor adoption and enterprise support by quickly offering MPC-based wallets and services. Second, to simplify key management processes while adding functionality to support novel value-added DeFi services — such as continuous and automated staking — that coin-holders deploy to maximize the value of holding that coin. By combining MPC-based key management with DeFi services, KeyFi will significantly lower the lifetime cost of custody for many institutional coin-holders.”
“It’s an incredible honor for QTUM to be the first cryptocurrency supported jointly by KeyFi and Unbound Tech,” said Patrick Dai. “This is particularly appealing for the QTUM ecosystem because the Unbound-KeyFi custody solution is a tremendously enabling tool for businesses that will lend new opportunities to QTUM holders. Since the blockchain space has such a well-recorded history of security lapses, we are glad to see companies make key management easier to implement, especially for staking.”
SOURCE Unbound Tech
Blockchain
Digital Payment Gateway Market Industry Trends and Opportunities 2030, with Competitor Analysis for PayPal, Stripe, Adyen, Worldpay, Razorpay Software, Mollie, BlueSnap, Klarna Bank and Dwolla
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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