Blockchain
Bairong Inc. Reinforces Data Privacy Protection with New Patent
Bairong Inc. (“Bairong” or “the Company”, 6608.HK), a leading independent AI-powered technology platform in China, has been making efforts to develop new technologies to better protect personal privacy. Its new patent based on federated learning can effectively protect privacy by restricting certain personal data from being transmitted from users’ mobile devices.
The patent – “A credit anti-fraud prediction method and system for mobile devices based on federated learning” – can be applied as an important data processing and analysis solution to protect private personal information. With individual private data not leaving users’ mobile devices, the solution can realize joint modeling between individual users and commercial institutions, so as to avoid leakage of personal information from the source and secondary leakage under technical analysis.
“Data security relies on advanced privacy computing technologies,” said Shaofeng Zhang, Founder and CEO of Bairong. “It is crucial to lay a solid foundation for privacy protection with patented technologies before commercial applications are widely deployed. We have long recognized the importance of data security for the digital economy, and have been developing innovative technologies in the field of data security and privacy computing.”
In a common scenario of financial data collection and analysis, if users want to borrow money online through their mobile devices, they first need to send their personal information, including app list, contact information, geographical location, and equipment identity number, to the server of financial institutions during the application process. The privacy and security of personal information may be at risk in this process.
With Bairong’s innovative patent, users no longer need to send their personal information from their mobile devices. The new solution can directly develop a federal learning model between users’ mobile devices and financial institutions, which can avoid leakage of user information from the source. While solving the problem of data security, more information on mobile devices can be leveraged to improve the accuracy of the prediction model.
Bairong’s patented technology has already been adopted by some financial institutions. For a key FSP client, Bairong’s federated learning technology was applied to upgrade its credit evaluation model. By ensuring security of data privacy and compliance, Bairong broke through “isolated island” limitations and integrated data from multiple parties, which increased the client’s model evaluation index K-S, directly improved the asset business efficiency with AI enabling transformation, and promoted cross operations with wealth management business.
China’s long-term blueprint for economic development has prioritized data security to include protection of trade secrets and personal privacy, legislation of data security and personal information protection, and security of data resources throughout their life cycle.
Bairong’s patent on privacy protection is a pioneering technology in the industry, which will provide an innovative solution to data security and business development in the future. In recent years, Bairong has increased investment in R&D, and developed advanced technologies in artificial intelligence, cloud computing, blockchain, and privacy computing.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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