ConsenSys CSO Seeks to Raise $50M for New Blockchain Investment Fund

An executive at the Ethereum blockchain firm ConsenSys is launching a new blockchain-oriented investment firm, Aligned Capital. Sam Cassatt, the chief strategy officer (CSO) at ConsenSys, announced that the firm will be seeking to raise $50 million for its first fund in an announcement on Nov. 15. Cassatt, who has been at the firm for five years, will continue to serve as an advisor to ConsenSys while working full-time as a founding managing partner at Aligned Capital. Apart from blockchain, Aligned Capital will invest in safe AI and innovative healthcare…

Artificial Intelligence Will Enable the Future, Blockchain Will Secure It

Speaking at BlockShow Asia 2019, Todalarity CEO Toufi Saliba posed a hypothetical question to the audience: “How many people would take a pill that made you smarter, knowing they can be controlled by a social entity?” No one raised their hand, and he was unsurprised. “That’s the response that I get, zero percent of you,” he continued. “Now imagine at the same time the pill has autonomous decentralized governance so that no one can control or repurpose that pill but the host – yourself.”  This time hands were raised in…

JPMorgan Automates Derivatives Margin Payments With Blockchain Tech

Major global investment bank JPMorgan has developed a new blockchain-based solution for derivatives designed to speed up cash and collateral transfers. The tool was developed in partnership with California-based fintech firm Baton Systems and aims to enable the real-time movement of transfers to multiple clearinghouses, the firm announced Nov. 14. The current process requires collateral custodians to manually coordinate multiple systems and reports. Integrated with JPMorgan’s proprietary automation system, the new solution reportedly eliminates manual intervention in the collateral process and therefore expedites the collateral workflow.  According to the announcement,…

Carrefour, Nestlé Use IBM’s Blockchain Platform to Track Infant Formula

Retail giants Carrefour and Nestlé are now using IBM’s Food Trust blockchain platform to track the supply chain of milk-based formula for infants, according to a Nov. 14 announcement. By using the platform, the firms aim to advance consumer confidence in the products’ quality by ensuring more transparency of the entire supply chain of formulas produced by Laboratoires Guigoz. The system aims to improve supply chain transparency and conduct checks of infant nutrition products’ origins. Implementation of blockchain-based tracking systems by retail giants Both Carrefour and Nestlé are not new…

Department of Homeland Security Awards $200K to Develop Blockchain Security Tech

The United States Department of Homeland Security (DHS) has awarded Virginia-based Digital Bazaar $199,984 to develop its blockchain security technology, according to a press release, Nov. 14. The Department’s Science and Technology Directorate (S&T) made the Phase 1 award, as it explores blockchain and distributed ledger technology (DLT) solutions to fulfill common needs across DHS missions. Replacing paper-based systems Through U.S. Customs and Border Protection, the Transportation Security Administration, and U.S. Citizenship and Immigration Services, the DHS issues, validates and verifies licenses and certifications for travel, citizenship, immigration and employment…

Nestle, Carrefour Extend Blockchain Tracking Effort to Baby Milk

Nothing is more important to new parents than the safety of their infants, and food giants Nestle and Carrefour aim to use blockchain to help appease that instinct. Following on from a previous food tracking effort by the two companies, based on IBM’s Food Trust platform, Nestle and Carrefour will track baby milk products and provide consumers with data on their origins and movements “from dairy to shelf.” Specifically, the GUIGOZ Bio 2 and 3 infant milk range will be traced on the blockchain platform as a means to provide consumers with more…

Samsung SDS to Use Zero-Knowledge Proofs on Business Blockchain

Samsung SDS, the IT arm of tech giant Samsung, has integrated QEDIT’s zero-knowledge proof solution (ZKP) to its Nexledger blockchain. By applying ZKP, Samsung SDS intends to provide a higher level of privacy for users of its enterprise blockchain platform Nexledger, QEDIT said in a press release on Nov. 14. To apply the technology, Samsung SDS has signed a memorandum of understanding with Israeli privacy-enhancing technology provider QEDIT in Seoul. According to the announcement, the agreement was signed by Jeanie Hong, senior VP at Samsung SDS’ blockchain division, and Jonathan…

‘Run Green Finance on Blockchain,’ Encourages Chief FinTech Officer of Singapore’s Monetary Authority

Sopnendu Mohanty, Chief FinTech Officer at the Monetary Authority of Singapore, spoke at BlockShow Asia 2019 about the importance of blockchain for the economy, highlighting its indispensability for the development of green finance. Mohanty defined green finance as follows: “How to monitor, how to measure, and how to mobilize finance for green assets.” He said blockchain can unite all three components. Climate change is undoubtedly one of the hottest topics of the 21st century. This week Venice, Italy saw its biggest flood since 1966, and it caused irreversible damage to…

Fintech Arm of Chinese Insurance Giant Files for US IPO After Blockchain Push

OneConnect Financial Technology, the fintech arm of China’s largest insurance company, filed a prospectus on Wednesday for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The firm plans to list its shares on NASDAQ. OneConnect’s filing with the SEC today called for a target raise of $100 million, though that figure could go higher. Reuters reported in September that the company was looking for a New York listing after it failed to go public in Hong Kong with a higher valuation. According to the report, the company…