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Fidelity data-sharing hub aims to end screen scraping

The investment firm is launching a company called Akoya that it says will help ease the technical aspects of data sharing, as well as disputes and liability issues, for banks, fintechs and data aggregators.
American Banker

Fidelity Investments Companies Funding Crypto-Security Firm Fireblocks

Coinspeaker Fidelity Investments Companies Funding Crypto-Security Firm FireblocksA platform for securing digital assets in transit, Fireblocks, announced $16 million in Series A funding from investment bulls like Cyberstarts, Tenaya Capital, and Eight Roads, all the proprietary investment arm of Fidelity International. The additional capital will be used by the company to build out its infrastructure, and court additional firms.The truth is, Fireblocks has been serving prominent companies for the secure transmission of their digital assets over the hot and cold wallets, across the exchanges and counter brokerage. Galaxy Digital and Genesis Global Trading are among their clients who have already been using these services.Founders Michael Shailov and Pavel Berengoltz wanted to change the insurance sector inside the crypto ecosystem, especially after seeing the hacking attacks on the south Korean exchanges in 2017. They decided to set up a blockchain security company in order to eliminate the root cause of digital asset hacks and scams as are private key theft, spoofing, and compromised credentials.In one of his interviews, Shailov said that he and his colleague from Lacoon Mobile Security, acquired by Check Point in April 2015, “reprioritized” their target clients from “traditional financial infrastructure to crypto,” following the “clearly sophisticated hacking by true professionals, including nation states.”Together with security engineers from Symantec, Trusteer, IBM security and leading cryptography advisor, Prof. Ran Canetti, they built a cloud-based security platform that eliminates the hassle of copy and pasting addresses and enables the seamless flow of funds.Shailov said:“While Blockchain based assets by themselves are cryptographically secure, moving digital assets is a nightmare. After interviewing over 100 institutional customers, including hedge funds, broker-dealers, exchanges, and banks, we concluded that the current process is slow and highly susceptible to cyber attacks and human errors.”The digital security platform is built on Ethereum blockchain and is powered to provide an additional layer of security to the financial business. That kind of platform stands out from others, by offering access slots and authorization to the users in terms of time and amount to be transferred.From Fireblocks they said that they have used MPC technology and chip level security for the digital assets that are ready to be transmitted over the blockchain.The company so far has integrated fifteen cryptocurrency exchanges and supports around 180 cryptocurrencies and fiat currencies. In the future, the company is planning to build infrastructure for small and medium scale companies that want to accept cryptocurrency as payment.Fidelity Investments Companies Funding Crypto-Security Firm Fireblocks
Coinspeaker

Bitcoin Mining Report By Coinshares and Fidelity Breaks Rhetoric on Profitability and Geo-fencing

CoinShare released its third edition of Bitcoin Mining Report along with Fidelity Center for Applied Technology. It is an expansive piece of research to address one of the most daunting and rather important aspects of Bitcoin, the mining process. In a game of supply and demand, supply should account for 50% of the price consideration. However, Bitcoin [BTC] is a speculative asset; hence, it’s a little more complicated than that. Bitcoin Mining is Profitable, and the Network is Growing The report suggested that the overall hash rate of the network has increased by 25% in 7 months. Hence, the number of nodes and innovation in the space is continually growing. Moreover, this completely contradicts the assumption that Bitcoin mining is a loss-making business. Because if it were, then miners would have been quitting instead of adding to the process. “Since our last report of November 2018, the hash rate has grown from approximately 40 EH/s to approximately 50 EH/s, an increase of 25%.” According to the reports, Bitcoin mining with the given hardware and associated cost is still ‘highly profitable.’ The institutes have considered long term cost associated with the mining process by accounting for the depreciation cost of hardware, electricity cost, the marginal cost of production, cooling cost, and other overheads. The results reveal that the cost of mining 1 Bitcoin in the range of $6800-$5600 approximately with the current miners. It varies for miners around the world, and the miners also switch between new and old machines due to fluctuations in prices, which varies the cost further. Nevertheless, the process was much costlier as projected in the last report in November 2018. At current Bitcoin prices, it is profitable by 28%. Furthermore, during the quarter of 2019, the process was yielding an equivalent loss as Bitcoin traded in the $4000 range. Hence, while the half-yearly balance seems to have been maintained with the price, the marginal profit is difficult to estimate. Geographic Statistics The report suggested that China continues to dominate mining around the world. The percentage dominance of China was estimated at 60%. The mining industry of China is mainly concentrated in the Sichuan region, which provides cheap hydro-electric power and a habitable climate that reduces the cost of cooling. Geographic Statistics for Mining (Report)  Also Read: Bitcoin (BTC) Price Analysis June 7: Enjoys A Cluster of Technical Support Levels Some of the other countries involved in the process are predominantly New York, UK, Canada, Sweden, Quebec, Norway, Iceland, Armenia, New Foundland and Labrador, Georgia and Iran. The report also estimated that the entire process is run predominantly by renewable energy. Moreover, the miners are running huge farms and are in it for the long haul. The news around the mining ban in China seems to have slight to no effect on the process in China. Moreover, it is generating enormous profits for the local government. Furthermore, mining is spread out across the world. Hence, the chances of the network going down due to a Government crackdown as bleak. Disclaimer: Neither the report, not this article should be considered as investment advice. Moreover, the story is also not authorized, but an attempt to understand the extensive process.  Do you think that more countries would start running nodes? Please share your views with us.  The post Bitcoin Mining Report By Coinshares and Fidelity Breaks Rhetoric on Profitability and Geo-fencing appeared first on Coingape.
CoinGape

Voleo Receives Investment from Fidelity National Information Services and Participates in Accelerator Program Hosted by The Venture Center

VANCOUVER, British Columbia, June 06, 2019 (GLOBE NEWSWIRE) -- Voleo Trading Systems Inc. (TRAD: TSX-V) ("Voleo", the "Company"), is pleased to announce the Company is participating in the 2019 Fidelity National Information Services ("FIS") Fintech Accelerator Program.  As one of ten selected start-up companies taking part in the 12-week on-site mentorship program at The Venture Center, Voleo is benefitting from in-depth business support and guidance as its management team meets with dozens of innovative financial institutions. Voleo was the only Canadian fintech company selected from over 225 applicants across 36 different countries. FIS is investing over $100,000 (US$75,000) into Voleo across three equal tranches at a price equivalent to the RTO price of $0.25 per share. This investment is complemented by personal access to FIS's senior executives. The Venture Center is dedicated to developing the financial innovations of the program participants and proactively supporting dialogues between the cohort and financial institutions. FIS is a global leader in financial services and technology, working with over 20,000 clients across 130 countries. FIS' technology connects financial organizations with their customers and powers 27 billion transactions annually, moving over $9 trillion globally each year. The Venture Center has also become a major name in the fintech industry by providing entrepreneurs and start-up corporations with the innovative programs needed to connect with financial institutions and investors on the path to sustain economic growth. In the short time the FIS Accelerator Program has been established, the average capital raise of a portfolio company is over $1.8 million. For its fourth year, FIS and The Venture Center evaluated all applicants on start-up viability, product maturity and market fit, indicating the significant potential of the top ten selected participating companies. Throughout the 12 weeks, FIS and The Venture Center will provide the tools needed to accelerate the selected companies' growth and strategic advancement within the fintech market. Thomas Beattie, CEO of Voleo, commented "We have already started to realize tremendous value from the FIS accelerator program. Voleo is gaining significant exposure to its target market of influential financial institutions and we have direct access to numerous banks and credit unions. We look forward to continuing to build our relationship with FIS through the rest of this program and into the future." The 12-week program commenced April 29, 2019 in Little Rock, Arkansas – regarded by many as the ‘birthplace of fintech' – and will run until July 19, 2019. About Voleo Trading Systems Inc.Voleo is a mobile fintech company that is ...Full story available on Benzinga.com
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Trending: Keep Up with What’s Up

In today’s clickbait culture it may at times come difficult to tune out media noise and make out the news that matter. At Finrazor, we have developed Trending, a handy tool to help you keep up with the most trending topics and events in an organized and rigorous way

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This week, Redditors not only followed the jumps of the rates, but also discussed such sign events as: Roger Ver talks about US Government, BCH founder tries to convey the importance of Bitcoin Cash, more businesses are switching to accepting cryptocurrencies, Fidelity takes a step forward… All that hot threads you can read in our Reddit-digest

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Blockmodo Lets You Create a Snapshot Cryptocurrency Price Widget

Cryptocurrency prices never stop moving, as the market exists in a constant state of flux. There are instances, though, when it’s useful to be able to hit the pause button and view the price of a cryptocurrency at a fixed point in time. For such occasions, Blockmodo’s snapshot widgets provide historical prices that are easy to absorb at a glance. Also read: Bitcoin.com Just Rebranded – Check out Our New Look Snapshot Widget Shows Crypto Prices Frozen in Time If you’re composing an article that addresses cryptocurrency prices at a specific point in time, it may be beneficial to have a visual representation. Until recently, your options were limited to screenshotting the chart and then embedding the image into your report. Blockmodo has now created a snapshot tool that provides a cleaner, lighter and less laborious alternative. Its price widgets page provides the ability to include a snapshot price quote, accompanied by relevant market data. The code can then be embedded into your blog or website as HTML, where it will form an aesthetically pleasing miniature chart. A snapshot widget can be particularly useful for situations where you want to be able to show context to readers. This might be because a particular digital asset has just experienced sudden volatility or passed an all-time high, for example. A snapshot of Bitcoin Cash’s price was taken on June 17th, 2019. The price was 429.91 USD with an open price of 427.06 USD. Bitcoin Cash price quote. Use a Streaming Widget for Real-Time Data In addition to its snapshot widgets, Blockmodo provides more conventional streaming widgets that display the live price of a particular digital asset. Alternatively, for real-time data on BCH and BTC, Bitcoin.com provides a host of streaming widgets. Our bitcoin cash and bitcoin core widgets have recently been updated to reflect Bitcoin.com’s new branding. Available in white or black, Bitcoin.com widgets are finished in a tasteful green, and provide live updates on the state of the bitcoin markets, pegged to various fiat currencies. What are your favorite crypto price widgets? Let us know in the comments section below. Images courtesy of Shutterstock. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. The post Blockmodo Lets You Create a Snapshot Cryptocurrency Price Widget appeared first on Bitcoin News.
Bitcoin News

Bitcoin Cash Developer: If Something Isn’t Done, BCH Will Cease to Exist

Last year’s Bitcoin Cash hardfork has come with multiple negative consequences. Firstly, the BCH blockchain was split into two, leading to the birth of Bitcoin Cash SV and Bitcoin Cash ABC. The BCH community was split into two after the announcement of a proposed upgrade, which resulted in the so-called Bitcoin Cash Hash Wars where organizations supporting Bitcoin Cash ABC and Bitcoin Cash SV were competing with each other to secure the most hash power to their networks. According to a BitMex study, the Hash Wars had a total cost of over $14 million. Now it seems like it is taking its toll on Bitcoin Cash developers who are having a hard time raising the funds they need for the ongoing development of the cryptocurrency’s network, leaked screenshots of messages in a Telegram group show. “Well if something is[n’t] done, Bitcoin-ABC will shut down and BCH will cease to exist,” Bitcoin Cash and Openbazaar developer Chris Pacia said. Decentralized Fundraising While Bitcoin Cash developers need funds to work on the project, they seek to acquire them in a decentralized way. End of the road for BCH development. Even Roger has tapped out. pic.twitter.com/ewH1QR9JiO — Skylark_BitCoin 🐉 (@skylark_bitcoin) June 16, 2019 “TLDR: Amaury complained about structured funding and no one knows how to solve the problem that doesn’t involve centralization of power or requires trust,” a user stated, referring to Bitcoin ABC developer Amaury Sechet. Users in the Telegram group had controversial opinions on Sechet’s way to raise funds. “I don’t see why donations from large entities can’t work, for instance, the Bitcoin.com initiative we have seen recently to raise funds,” a user wrote. “Nobody is donating. That’s why,” Openbazaar developer Chris Pacia replied. “That fundraiser probably won’t hit the goal and the goal is an order of magnitude less than what is needed,” he added. According to Pacia, “multi-coin” companies are the reason why Bitcoin Cash devs are underfunded. “The main problem as I see it is all the large companies that profit from BCH are multi-coin companies. If BCH goes under, they shrug their shoulders and life goes on for them. They have virtually no incentive to fund BCH,” he said. Planning to Raise 800 BCH Bitcoin.com, in collaboration with other projects and organizations such as Electron Cash and the FVNI Development Society, has launched a fundraiser on May 30 to support the Bitcoin Cash development team. The fundraiser has a phase one goal of acquiring 800 BCH (about $348,000) by August 1. Until now, contributors have already donated 348 BCH, reaching 43% of the goal. If Pacia is right and the money acquired from the fundraiser is much less than they need, then it seems like that Bitcoin Cash developers are in a really bad financial situation. However, if the fundraiser reaches its goal, the money should be enough for the devs to cool down and continue working on the project until they manage to find a viable long-term solution for their financials. The post Bitcoin Cash Developer: If Something Isn’t Done, BCH Will Cease to Exist appeared first on CryptoPotato.
CryptoPotato

Monero Price Prediction Today: Daily (XMR) Value Forecast – June 17

On the upside, if the bulls break the $98 overhead resistance, the crypto’s price would rise to $120 price level. On the other hand, if the bulls fail to break the overhead resistance, the market will fall to the previous low of $95. XMR /USD Medium-term Trend: Ranging Resistance Levels: $100, $105, $110 Support Levels: […]
Bitcoin Exchange Guide

Tron CEO Justin Sun to be Accompanied by Litecoin’s Charlie Lee in a Lunch Meet-up with Warren Buffet

Coinspeaker Tron CEO Justin Sun to be Accompanied by Litecoin’s Charlie Lee in a Lunch Meet-up with Warren BuffetJustin Sun, CEO of Tron seems to have some magical powers. As report speculates that the blockchain expert would be meeting with one of the most influential personalities in the financial sector – Warren Buffet, Chairmain and CEO of Berkshire Hathaway. Dated to take place on July 25th, 2019, this 20th annual charity lunch will take place in Silicon Valley, San Francisco. As opposed to Buffett’s New York’s Steakhouse venue for such gathering, this variance is in a bid to honor a local charity that the late billionaire’s wife supports – Glide Foundation.According to a Twitter post, Justin Sun calls out to his fellow crypto colleague Charlie Lee to chaperone him to this prime crypto lunch get-together. Hence, the host has been applauded by the crypto community for such a clever choice of company to this once in a lifetime financial-crypto conference.The crypto power lunch, co-hosted by Omaha-based Oracle corporation, is believed to attract a budget of $4.6 million USD. Expected to be in attendance are institutional financial investors. Subsequently, in what appears to be an optimistic approach to hop into the bandwagon, the investment genius told Bloomberg: “I’m delighted with the fact that Justin has won the lunch and am looking forward to meeting him and his friends.”Speaking on the path of Warren Buffet, the American business magnate happens to be one of the most notable detractors of Bitcoin in the early days. Referring to this neoteric digital currency as a ”worthless gambling” in the past. The Billionaire Investor at some point believed that Bitcoin was a sham, as he told Becky Quick of CNBC that “It [Bitcoin] is a delusion, basically. ”But to the delight of the entire crypto community, this financial mogul seems to be retracting those comments.Where Do We Go From Here?Speaking on behalf of the entire crypto general public, Justin Sun further stipulates that this lunch is set in place to further enlighten the financial entrepreneur and not an actual partnership with the financial powerhouse – Berkshire Hathaway. He stated:“It might be unrealistic to convince Warren Buffett, just in three hours, to buy cryptocurrencies. But we want to show him the recent progress of cryptocurrency and blockchain technology.”Following blockchain’s recent involvement with several fortune 500 companies, an adoption by stellar financial tycoon such as Buffett would go a long way to bolster mainstream endorsement of cryptocurrencies. Tron CEO Justin Sun to be Accompanied by Litecoin’s Charlie Lee in a Lunch Meet-up with Warren Buffet
Coinspeaker

Tech Regulation’s Deft-Hand Problem: CEO DailySalon Viva Technology 2019, Startup connect : Day One At Porte De Versailles In Parisamurrayfortune

Good Monday morning. The rising drum roll to regulate digital platforms has understandable roots. Consider: - From an economics perspective, the marginal benefit of adding each new customer to a digital network is significant while the marginal cost is near zero, creating powerful winner-take-most-or-all dynamics. - From a business perspective, those economics tilt the playing field in a direction that feels vastly unfair to incumbents. (Which may be why upwards of 40% of the Fortune 500 CEOs we polled this year believe Alphabet, Amazon, and Facebook need additional regulation.) - From a media perspective, the tech firms are up against one of the businesses that's been most disrupted. (Check out this new data showing 2 out of every 3 digital ad dollars goes to the three companies mentioned above.) - From a political perspective, tech companies have quickly morphed from superhero to villain. The left hates them because they are big and rich; the right hates them because they tilt left. The problem is that proper regulation of digital platforms will require a deft hand, and deft hands are in short supply in Washington these days. With Teddy Roosevelt in mind, politicians are calling for "trust busting"--ignoring the fact that the network effects that drive these companies' bigness also create benefits for users. A more proper approach might be to create an FCC-style regulatory apparatus that ensures the digital platforms follow certain rules to maximize consumer benefit and minimize anti-competitive effects. But crafting intelligent legislation on such a complicated topic was hard back in the days when government was quasi-functional. In today's polarized environment, it will be near impossible. That's the one thing the tech companies have going for them. Speaking of digital disruption, finance certainly seems teed up for a tumble. (Facebook is reportedly ready to announce its cryptocurrency launch this week.) That's why Fortune is holding its first-ever Brainstorm Finance, in Montauk, N.Y., Wednesday and Thursday. We'll be mixing some of the titans of traditional finance--like Citi CEO Mike Corbat, Bank of America CEO Brian Moynihan, Charles Schwab CEO Walt Bettinger , and Edward Jones CEO Penny Pennington--with some of top digital disruptors--Ripple CEO Brad Garlinghouse, Circle CEO Jeremy Allaire, Clovyr CEO Amber Baldet, and Credit Karma CEO Ken Lin. I'll be reporting from sunny Montauk starting Wednesday. And in case you missed it--the big bombshell this weekend was David Sanger's story in the New York Times saying the U.S. government has buried "digital land mines" in the Russian power grid. President Trump tweeted the story was both "fake news" and "a virtual act of Treason." It should be no surprise, as Fortune's Robert Hackett writes, that cybersecurity IPOs are attracting particular interest this year. More news below. Alan Murray @alansmurray alan.murray@fortune.com Top NewsSouth American Blackout Speaking of power grids and cyber-stuff, an enormous blackout hit Argentina, Uruguay, Brazil, Chile and Paraguay yesterday, and Argentinian President Mauricio Macri said a cyberattack could not be ruled out as the cause. Humidity's another possible culprit. The unprecedented problem originated in Argentina's coastal transmission system--the regional grid got disconnected from all the generators at the Yacyreta hydroelectric dam. Bloomberg Crisper Boeing Boeing CEO Dennis Muilenburg says his company should have communicated more "crisply" with its customers and regulators following the fatal crashes of two of its 737 Max planes. Muilenburg regarding Boeing's safety procedures failing to spot flaws: "Clearly, we can make improvements, and we understand that and we will make those improvements." The FAA may reportedly start trials of Boeing's fixes as early as this week. Reuters Deutsche Bank The Financial Times reports that Deutsche Bank is to shrink or close its U.S. trade business and set up a so-called "bad bank" to hold or sell assets--mostly long-dated derivatives--valued at up to $56 billion after adjusting for risk. "It makes sense for us to put all these long-term, nil-revenue assets in a non-core unit," said one "senior figure at the bank." FT Huawei Hit Huawei has for the first time quantified the hit it will take from the U.S. ban on vendors selling to the Chinese telecoms giant. Founder Ren Zhenghfei said Huawei expects to lose around $30 billion in revenue over the next couple years, with overseas smartphone shipments falling by as much as 60%. Ren: "We didn't expect the U.S. would so resolutely attack Huawei. We didn't expect the U.S. would hit our supply chain in such a wide way--not only blocking the component supplies, but also our participation in international organizations." Bloomberg Around the Water CoolerP&G Wellness Procter & Gamble will try to pitch some of its most popular products, such as Crest toothpaste and Pantene shampoo, as "wellness boosters" by teaming up with Arianna Huffington's "behavioral health" firm Thrive Global. As Fortune's Sy Mukherjee writes: "Thrive's central role across the P&G portfolio will be providing what the company calls behavioral 'microsteps' in order to 'habit-stack'-i.e, build a positive, affirming mental habit into something consumers may already do every day." Fortune China Tariffs Public hearings on the Trump administration's proposed next round of tariffs on Chinese imports begin today, and the Wall Street Journal reports that many businesses have already been writing to the U.S. Trade Representative, complaining that they have no choice but to buy from China. WSJ Stock Link As of today, U.K.-listed firms will be able to also list in mainland China. The London-Shanghai Stock Connect stock link is the first to allow foreign firms to list in China. The move will allow companies in each country to raise money in the other. "Stock Connect is a groundbreaking initiative, which will deepen our global connectivity as we look outwards to new opportunities in Asia," said British Chancellor Philip Hammond. BBC Unconscious Bias Unilever had some of its marketing and ad agency staff in New York, London and Rotterdam take a DNA test and read the results, in order to test whether heritage-related revelations affected their unconscious biases. The consumer goods giant, which worked with University College London staff on the exercise, said reading the results "significantly" reduced the subjects' stereotypical thinking. CNBC This edition of CEO Daily was edited by David Meyer. Find previous editions here, and sign up for other Fortune newsletters here.
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