Samsung develops blockchain certification tool for banks | Digital Asia
Digital Asia News Update
Samsung’s IT service arm, Samsung SDS, has built BankSign, a blockchain-powered co-authentication tool for banks, according to a press release.
BankSign, which was developed in a joint venture with Korea Federation of banks, will allow customers to use the mobile services of other banks just by obtaining one joint certification from one bank. Any attempt to forge the certification will be prevented by the tool’s distributed ledger system.
“The blockchain has increased security by encrypting communication segments and double-encrypting data and networks,” allowing the bank to increase the required renewal period for certification from 1 to 3 years.
The authentication method has also been enhanced with passwords, fingerprints, and patterns.
Singapore central bank announces plan to conduct securities trading using blockchain – [Tech News]
Singapore’s central bank The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX), announced yesterday a plan to build a tool that will facilitate the buying/selling of tokenised assets across multiple blockchain platforms.
The goal is to build a Delivery versus Platform (DvP) system that allows for securities to be bought and sold using smart contracts across various blockchain networks. DvP is a finance term that refers to the process of ensuring a buyer’s money for a security has landed before the asset is released.
India-based health info provider myUpchar raises US$5 million – [press release]
India-based health information platform myUpchar has raised US$5 million Series A round from Nexus Venture Partners, Omidyar Network and Shunwei Capital.
The company aims to use the funding to strengthen its products and technology that will include improving its voice, video and virtual reality interfaces, allowing it to develop better health content.
myUpchar has partnered with hundreds of doctors to provide health information in 13 Indian languages across various disciplines. Its text-to-speech functionality helps users who have difficulty typing or reading content on the phone.
Malaysian startup TAG La raises US$184,000 – [press release]
TAG La, a Malaysian startup that helps users find misplaced items, has raised RM 755,000 (US$184,000) through equity crowdfunding platform Crowdplus.Asia.
The funding round was led by Cradle Fund and TBV Capital.
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The startup plans to use the funding to harness analytics the user data from its Bluetooth tracker so it can serve them better and build more features.
There are currently 40,000 TAG La users.
Travel app Travello raises US$3.7 million – [press release]
Australian social networking app for travellers, Travello, has raised AUD$5 million (US$3.7 million) from a consortium of private investors.
The company will use the funding to support its global expansion to the UK and other parts of Europe, enhance the app’s features and its SaaS platform, BlueTee.
BlueTee enables travel businesses to better connect with their customers’ pre, in-destination and post-travel through location-based geo-fences to pinpoint highly targeted push messages.
Founded in 2015, Travello recommends experiences and allows users to browse and book more than 50,000 activities.
The social networking app is currently used by more than 350,000 travellers in 180 countries. In July 2018 alone, Travello recorded 1.8M events on the Travello feed.
The post Today’s top tech news, August 28: Samsung develops blockchain certification tool for banks appeared first on Tech News.