Business

Belfrics Group Aims to Raise $30 Mn in Funding Round

A blockchain start-up headquartered in Malaysia, Belfrics Group has shared its vision to raise $30 million through the first-round funding. The CEO of Belfrics Group, Praveenkumar explained, “Blockchain was and is still a nascent concept in the market. Everyone’s talking about Blockchain but only a handful understand the true potential of the technology. We combined the money markets and the DLT technology space to develop meaningful products that can affect socioeconomic empowerment to the region where we operate.”

$18 Mn raised By Multi-Threaded Blockchain Solana

A funding round which was led by Multicoin Capital, and also saw the participation of Distributed Global, Blocktower Capital, Foundation Capital and Blockchange VC have helped blockchain Solana’s POS development team to raise $18 Million, making it valuation to reach $20 million. Co-founder of Multicoin Capital Kyle Samani said, “While many developers have proposed sharding solutions for scaling existing layer 1 solutions…”

Australia’s New Cash Payment Draft Bill Positive For Crypto

The Australian government unveiled a new draft bill which is supportive of digital currencies. In its memorandum: “Digital currency is a new and developing area in the Australian economy. Unlike physical currency, it does not have a firmly established regulatory framework or industry structure. This makes it difficult to apply the cash payment limit in a way that would not largely prevent the use of digital currency in Australia or significantly stifle innovation in the sector.”

Facebook To end Era Of Encryption

It is unveiled that Facebook is developing tools an AI-powered means of bypassing end-to-end encryption on WhatsApp, which will allow the firm to peek into our personal messages, conversation & transactions. A tech entrepreneur Kalev Leetaru said, “will need to quietly stream a copy of the formerly encrypted content back to its central servers to analyze further, even if the user objects, acting as true wiretapping service.”

Samsung SDS and CMC Corporation Sign Strategic Investment Contract

A strategic investment cooperation contract with CMC has been established between the Samsung SDS and Vietnam’s Top IT and Telecommunication company – CMC Corporation. The CEO of CMC Corporation, Mr Nguyen Trung Chinh explained, “We believe this cooperation will create a miracle in the wave of digital transformation, enhancing Vietnam’s position on the world technology map.”

Phone House Joins Hands with UTRUST For Crypto Platform

The Phone House (an European telecom service provider) has partnered with with UTRUST (a digital currency payment provider) which has announced that it is now accepting Bitcoin (BTC) and other digital assets for customer’s payments. General Director of Phone House Pedro Brehm said, “We are excited to announce our partnership with UTRUST, making payment through cryptocurrency possible for our Phone House customers.”

YouHodler Failed To Protect Credit Card Data

The research team from vpnMentor has revealed that YouHodler (a cryptocurrency loan site) has failed to encrypt their servers because of which it exposed customer credit card and user transaction data for almost a month. The researchers noted that they have found enough information have been leaked to make fraudulent card purchases (CVV) and their expiry dates. The website failed to encrypt these sensitive data.

Startup Working On Crypto Data Has Raised $3.2 Mn In Funding Round

Cryptocurrency data and financial technology startup Digital Asset Data announced that it received $3.2 million in funding. Glenn Hutchins, its board of director commented, “Digital Assets Data has built a full stack, institutional-quality data platform that is capable of serving all types of market participants – from data scientists, to quant funds, hedge funds, banks, venture capital funds, and more.”

BitGo & Civic Come Together For Anonymous Crypto Wallet

BitGo (a blockchain security startup) and Civic (a blockchain based identity platform) have entered into partnership with aim to to build a crypto wallet that maintains anonymity while offering a back-up solution. CTO of BitGo Ben Chan said, “decentralized identification verification system allows users to opt in to sharing their underlying data with people they choose,”

Norwegian Air Adds Crypto Payment

The low-cost airline Norwegian Air has announced that it will be accepting Bitcoin payments soon, post ts co-founders set a date for opening their cryptocurrency exchange (NBX). The lead of NBX Kjos-Mathisen said, “First, the marketplace will be launched. Then NBX will make a payment solution for the airline so that airline customers can pay with virtual currency.”