Blockchain
DIA Leverages IBM Cloud and Confidential Computing to Help Secure its Decentralized Financial Information Platform
IBM (NYSE: IBM) and DIA announced today that DIA migrated its platform to IBM Cloud and is leveraging IBM Cloud Hyper Protect Services to manage how financial data is sourced, stored, processed and published. IBM Cloud Hyper Protect Services is a hybrid cloud offering designed to deliver sophisticated encryption capabilities to help secure highly sensitive data, which is especially important in the age of hybrid cloud. The migration of DIA’s platform to a cloud environment backed by IBM Cloud confidential computing capabilities is designed to protect data and applications from potential malicious inside and external attacks.
DIA is located in Crypto Valley in Zug, Switzerland and is an open-source financial information platform that incentivizes the sourcing and validation of data and provides the data via traditional APIs as well as oracles. Oracles are the third-party trust mechanisms that allow smart contracts to receive data from sources outside of the blockchain.
Data security is key for success of the fast-growing decentralized finance space
DeFi is an emerging area of digital finance that leverages blockchain-based smart contracts to execute and validate transactions, rather than relying on centralized financial institutions. As the industry grows, transparent data sources and oracles become critical to its reliability and success. Data sources that can be compromised and provide little transparency can lead malicious actors to manipulate attacks on DeFi platforms. To help mitigate this risk, DIA is leveraging the IBM Cloud – the industry’s most secure and open public cloud for business.
IBM Cloud Hyper Protect Services help enable protection and privacy of data infrastructure
Using IBM Cloud Hyper Protect Services, DIA can help provide technical assurance to its clients and users that their workloads are secured by protecting backend infrastructure against attacks on hardware, servers, applications and data layers. By taking advantage of ‘Keep Your Own Key’ (KYOK)1 and confidential computing capabilities delivered via hybrid cloud capabilities from IBM, DIA can protect data with complete authority for their data and workloads.
IBM Cloud Hyper Protect Services provide confidential computing capabilities designed to enable data integrity and confidentiality for current and future workloads within hybrid cloud environments by employing isolation and encryption in security-rich enclaves to run cloud software.
This concept allows the platform’s users to retain sole access to their crypto keys – meaning not even IBM can access them – and helps mitigate the risk of malicious actors viewing or modifying the confidential data. Built on IBM LinuxONE, by using IBM Cloud Hyper Protect Services, DIA has access to the highest level of security offered commercially by any cloud provider in the industry for cryptographic modules.2
“IBM Cloud Hyper Protect Services, confidential computing capabilities and IBM LinuxONE enable us to help implement a high security standard in the oracle landscape,” says Samuel Brack Co-Founder and CTO at DIA. “Being able to assure that no third party can view or manipulate our off-chain computing operations effectively protects DIA and its users from potential malicious inside and outside attacks.”
“As reliance on data grows, especially in the era of hybrid cloud, the need for cutting-edge security to protect digital assets becomes even more critical,” said Hillery Hunter, IBM Fellow, VP & CTO, IBM Cloud. “On its mission to source and validate financial data, DIA’s move toward a confidential computing environment bolsters security for all existing participants within its ecosystem. Now, DIA can work with clients in highly regulated industries and address their higher demand for confidentiality as they access their open source financial information platform.”
DIA continues to explore opportunities to increase security, scalability and compliance of data delivery for both institutional and DeFi actors to help grow the ecosystem and to further increase trust in the still nascent DeFi industry.
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.
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Blockchain
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Blockchain
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