Connect with us

Top Stories

Rivetz Enhances Security for Blockchain-based Apps with Trustonic

Published

on

Rivetz Enhances Security for Blockchain-based Apps with Trustonic

05 June 2018, Cambridge, UK and MA, US – Device and application security leader Trustonic today announces the integration of its Trusted Execution Environment (TEE)* APIs into Rivetz’s flagship software development kit for securing blockchain-based applications. The use of Trustonic’s APIs means that developers using the Rivetz platform will automatically have access to the decentralized cyber security protections and controls required when developing blockchain, IoT and cloud applications for high-risk markets such as financial services, legal and healthcare.

Steven Sprague, CEO and Founder, Rivetz, comments: “Our partnership with Trustonic makes it even easier to integrate support for the added protections that the TEE provides into blockchain-based applications and services.

By combining the hardware-backed identity and authentication supplied by the TEE with immutable attestation provided by blockchain technology, the developers of blockchain-based apps and services can prove the data recorded on the blockchain was from a known device in a known condition. This enables a new model for decentralized cybersecurity.”

The integration of Trustonic’s technology into the Rivetz platform means that the private keys and instructions in applications can be executed in an area protected from the device’s normal operating system. This is necessary because rich operating systems (OS) have software and hardware vulnerabilities, which can be exploited by hackers and malware looking to take control of applications or to steal sensitive data. The Rivetz Authenticator uses the Trustonic TEE to provide advanced security capabilities such as storing and creating two-factor codes in a device’s hardware, which provides greater levels of security than software protection alone. Along with an encrypted backup and restore feature, this provides the user with a safer alternative to SMS and other software-only two-factor authentication methods.

Ben Cade, CEO of Trustonic, adds: “Foundational, end-to-end security built in at the hardware level is crucial to protect both consumers and enterprises. Blockchain will enable transformational use cases that unlock tremendous market potential and value, so robust security and trust is essential. We look forward to continuing to enable and support Rivetz as they deliver a new level of truly secure blockchain apps to the market.”

The Rivetz solution is compatible with the 1.5 billion+ Trustonic-enabled devices that have already been deployed in the market, providing developers with simple tools to enhance their applications and offer a simpler and safer solution for the user. The new models of frictionless commerce will both protect users’ identities and improve their privacy on the network.

Learn more about how Trustonic Application Protection could protect your digital service.

At Money2020 Europe? Visit us on stand E121 or get in touch to arrange a meeting.

Top Stories

UK’s Sunak to build bridge to recovery with more spending

Published

on

UK's Sunak to build bridge to recovery with more spending 1

By William Schomberg

LONDON (Reuters) – British finance minister Rishi Sunak will next week promise yet more spending to prop up the economy during what he hopes will be the last phase of lockdown, but he will also probably signal tax rises ahead to plug the huge hole in the public finances.

Sunak, who is due to announce a new budget plan on March 3, has already racked up more than 280 billion pounds ($397 billion) in coronavirus spending and tax cuts, pushing Britain’s borrowing to a peacetime record.

Prime Minister Boris Johnson plans to lift England’s current lockdown entirely only in late June so Sunak is expected to rely heavily on the debt markets again.

His job retention scheme, paying 80% of employees’ wages, will probably be extended beyond a scheduled April 30 expiry date, further inflating its estimated cost of 70 billion pounds. Support for the self-employed looks set to stay too.

Businesses are demanding Sunak keep other lifelines, such as exempting the firms hardest hit by the lockdown from property taxes and giving them a value-added tax cut.

And calls are growing for an extension of a 20 pounds-a-week emergency welfare increase due to expire in April.

The Times newspaper said Sunak would prolong his stamp duty property tax break for three months until the end of June.

Sunak hopes that by then Britain will be emerging from its deep freeze thanks to Europe’s fastest vaccination programme.

Bank of England Chief Economist Andy Haldane likens the economy to a “coiled spring” primed with the savings that households have built up after being stuck at home.

A strong recovery would mean a jump in tax revenues, doing some of the Treasury’s job of fixing the public finances.

Rupert Harrison, an aide to former finance minister George Osborne, said Sunak should not try to slash Britain’s 2.1 trillion-pound debt mountain, equivalent to 98% of GDP – a ratio unthinkable for decades.

Instead he should write new budget rules tied to the cost of debt servicing, which is close to record lows.

“We can safely carry higher levels of debt than before,” Harrison told a webinar organised by Onward, a think-tank.

But the scale of Britain’s borrowing is raising questions about how long Sunak and Johnson can stick to their promises not to raise key taxes, made to voters before the 2019 election.

BROKEN PROMISES?

The huge costs of tackling the worst of the coronavirus pandemic are likely to ease in the months ahead, meaning this year’s 400 billion pound budget deficit should narrow.

But Britain is probably on course to be stuck with a gap of 60 billion pounds between revenues and day-to-day spending by the mid-2020s, the Institute for Fiscal Studies think-tank says.

In a nod to that, Sunak is expected to start raising Britain’s low corporation tax rate.

The Sunday Times said the rate would rise steadily to bring in an extra 12 billion pounds a year by the time of the next election, due in 2024.

Other options include ending a freeze on fuel duty increases which has been in place since 2012 and looks at odds with Britain’s plans to be carbon net zero by 2050.

But higher fuel prices now would hurt the haulage industry, already struggling with Brexit-related disruption, and could alienate working-class voters who backed Johnson in 2019.

Higher capital gains tax or lower pension incentives would anger lawmakers in Johnson’s Conservative Party.

David Gauke, a former deputy finance minister, said the only big revenue-raising options were the ones that Johnson has promised not to touch – income tax, VAT and national insurance contributions.

“In the end, they are going to have to say, sorry we just can’t responsibly maintain that manifesto commitment,” Gauke told the Onward webinar.

($1 = 0.7046 pounds)

(Writing by William Schomberg; Editing by Catherine Evans)

 

Continue Reading

Top Stories

Women inch towards equal legal rights despite COVID-19 risks, World Bank says

Published

on

Women inch towards equal legal rights despite COVID-19 risks, World Bank says 2

By Sonia Elks

(Thomson Reuters Foundation) – Women gained legal rights in nearly 30 countries last year despite disruption due to COVID-19, but governments must do more to ease the disproportionate burden shouldered by women during the pandemic, the World Bank said on Tuesday.

Nations should prioritise gender equality in economic recovery efforts, the bank said, warning that progress on equal rights was threatened by heavier job losses in female-dominated sectors, increased childcare and a surge in domestic violence.

“This pandemic has exacerbated existing inequalities that disadvantage girls and women,” David Malpass, World Bank Group president, said in a statement accompanying the annual “Women, Business and the Law” report.

“Women should have the same access to finance and the same rights to inheritance as men and must be at the centre of our efforts toward an inclusive and resilient recovery from the COVID-19 pandemic.”

A total of 27 countries reformed laws or regulations to give women more economic equality with men in 2019-20, said the report, which grades 190 nations on laws and regulations that affect women’s economic opportunities.

While countries in all of the world’s regions made improvements in the new index – with most reforms addressing pay and parenthood, women on average still have only about three quarters of the rights granted to men, the report found.

Notably, nearly 40 countries brought in extra benefit or leave policies to help employees balance their jobs with the extra childcare needs created by coronavirus restrictions.

But such measures were “few and far between” worldwide and will probably not go far enough to tackle the “motherhood penalty” many women face in the workplace, it said.

The report also noted separate data from a United Nations tool tracking gender-sensitive pandemic responses which found 70% of such measures addressed violence, with just 10% targeting women’s economic security.

The pandemic could result in “a backslide on various hard-won advances in women’s rights achieved in recent years”, said Antonia Kirkland, the global lead on legal equality at women’s rights organisation Equality Now.

“This disruption is a unique opportunity for countries to rebuild more resilient, inclusive and prosperous economies,” she told the Thomson Reuters Foundation by email.

“But this can only be achieved alongside the removal of sex discriminatory laws that prevent women from participating fully and equally in economic, social and family life.”

(Reporting by Sonia Elks @soniaelks; Editing by Helen Popper. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly. Visit http://news.trust.org)

Continue Reading

Top Stories

Digital health checks vital to travel recovery, Heathrow says

Published

on

Digital health checks vital to travel recovery, Heathrow says 3

By Sarah Young

LONDON (Reuters) – Digital health checks will be vital to a recovery in foreign travel from the COVID-19 pandemic, Britain’s Heathrow airport said on Wednesday, after a collapse in passenger numbers saw it plunge to a 2 billion pound ($2.8 billion) loss last year.

The UK government said on Monday trips abroad could restart in mid-May as its vaccination campaign kicks in, sparking a surge in holiday bookings.

It is also looking into a digital health passport or app to help ease restrictions, while conceding the benefits have to be weighed against potential risks to civil liberties.

But Heathrow chief executive John Holland-Kaye said digital technology, and international agreements, would be vital to reviving a travel industry on its knees.

“It’s absolutely critical and that’s one of the main things that government needs to work on,” he said, when asked about a digital health app.

At present, paper checks on COVID-19 test results and passenger locator forms take 20 minutes per traveller at Heathrow, making travel near impossible should passenger numbers rise from current low levels.

Britain’s biggest airport said it was “very likely” people would be able to go on their summer holidays, but expects passenger numbers will take time to recover.

The airport, west of London, is forecasting 25 million passengers in the second half of the year, meaning it would be operating at about 50% capacity.

Heathrow, owned by Spain’s Ferrovial, the Qatar Investment Authority, China Investment Corp and others, last year lost its title as Europe’s busiest airport to Paris after its flight schedules shrank more than those of its rivals.

Passenger numbers plunged 73% to 22 million people last year, with half of those travelling during January and February, before the pandemic shut down global travel in March.

Heathrow said it had 3.9 billion pounds of liquidity, giving it sufficient resources to keep going with low levels of traffic until 2023, despite the 2 billion loss before tax for 2020.

The airport urged the government to provide business tax breaks for big airports, something only available to smaller airports so far, and to extend the furlough job support scheme to help it financially before the recovery takes off.

($1 = 0.7044 pounds)

(Reporting by Sarah Young. Editing by James Davey and Mark Potter)

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

Vodafone's towers arm plans biggest European IPO of 2021 so far 4 Vodafone's towers arm plans biggest European IPO of 2021 so far 5
Investing2 hours ago

Vodafone’s towers arm plans biggest European IPO of 2021 so far

By Paul Sandle and Arno Schuetze LONDON/FRANKFURT (Reuters) – Vantage Towers, the mobile masts company spun out of Vodafone Group,...

UK's Sunak to build bridge to recovery with more spending 6 UK's Sunak to build bridge to recovery with more spending 7
Top Stories2 hours ago

UK’s Sunak to build bridge to recovery with more spending

By William Schomberg LONDON (Reuters) – British finance minister Rishi Sunak will next week promise yet more spending to prop...

Oil rises despite surprise U.S. stock build weighs 8 Oil rises despite surprise U.S. stock build weighs 9
Investing2 hours ago

Oil rises despite surprise U.S. stock build weighs

By Ahmad Ghaddar LONDON (Reuters) – Oil prices firmed on Wednesday amid continued outages in the United States and a...

Sterling touches $1.42, hits highest vs euro in a year 10 Sterling touches $1.42, hits highest vs euro in a year 11
Trading2 hours ago

Sterling touches $1.42, hits highest vs euro in a year

By Ritvik Carvalho LONDON (Reuters) – Sterling hit $1.42 on Wednesday, coming within touching distance of $1.43, while also reaching...

Strong German data helps European shares recover; Wall Street futures subdued 12 Strong German data helps European shares recover; Wall Street futures subdued 13
Investing2 hours ago

Strong German data helps European shares recover; Wall Street futures subdued

By Elizabeth Howcroft LONDON (Reuters) – European shares rose but U.S. stocks futures pointed to a further tech sell-off in...

EasyJet to raise up to 1.2 billion euros from bond issue 14 EasyJet to raise up to 1.2 billion euros from bond issue 15
Investing5 hours ago

EasyJet to raise up to 1.2 billion euros from bond issue

By Yoruk Bahceli and Abhinav Ramnarayan AMSTERDAM (Reuters) – EasyJet will raise 1-1.2 billion euros from a seven-year bond sale...

ExxonMobil to sell some UK, North Sea assets to HitecVision for over $1 billion 16 ExxonMobil to sell some UK, North Sea assets to HitecVision for over $1 billion 17
Business6 hours ago

ExxonMobil to sell some UK, North Sea assets to HitecVision for over $1 billion

(Reuters) – Exxon Mobil Corp said on Wednesday it would sell its non-operating interest in its UK and North Sea...

JPMorgan's blockchain payments test is literally out of this world 18 JPMorgan's blockchain payments test is literally out of this world 19
Business6 hours ago

JPMorgan’s blockchain payments test is literally out of this world

By Anna Irrera LONDON (Reuters) – Stuck in space with bills to pay? Don’t worry, the satellites could take care...

Aussie, pound soar on reflation bets; dollar struggles 20 Aussie, pound soar on reflation bets; dollar struggles 21
Trading6 hours ago

Aussie, pound soar on reflation bets; dollar struggles

By Saikat Chatterjee LONDON (Reuters) – The dollar struggled at multi-year lows against the Antipodean currencies and held near a...

Garment workers in Thailand receive full compensation after wages expose 22 Garment workers in Thailand receive full compensation after wages expose 23
Business7 hours ago

Garment workers in Thailand receive full compensation after wages expose

By Nanchanok Wongsamuth BANGKOK (Thomson Reuters Foundation) – Garment workers in Thailand who were illegally underpaid while making products for...

Newsletters with Secrets & Analysis. Subscribe Now