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Korea’s KB Financial Scores Patent for Blockchain Cybersecurity App
South Korean finance juggernaut KB Financial has reportedly been awarded a patent for its blockchain-based cybersecurity app, according to Cointelegraph, citing local news source The Digital Times. The new patent centers on a blockchain-cored solution which improves an “essential” security program for fintech apps by separating it from individual apps, thereby enhancing safety. The separation also has the bonus of
The Cybersecurity Talent Gap Is Getting Even Worse
FinTech
As of 2018, the United States has over 300,000 unfilled cybersecurity related positions. Over 50% of organizations have a skills shortage of cybersecurity talent, up from just 23% back in 2014. According to IT professionals, the shortage in talent problem is cited as the greatest challenge facing their organization across a whole spectrum of industries. For the rest of the
The Big Blockchain Lie
Blockchain
Now that cryptocurrencies such as Bitcoin have plummeted from last year's absurdly high valuations, the techno-utopian mystique of so-called distributed-ledger technologies should be next. The promise to cure the world's ills through "decentralization" was just a ruse to separate retail investors from their hard-earned real money. NEW YORK – With the value of Bitcoin having fallen by around 70% since
Fidelity Launches New Crypto Unit to Service Institutional Investors
Fidelity Investments announced on Monday that it has launched a new unit to manage cryptocurrency assets for hedge funds, family offices and market intermediaries. The new company, called Fidelity Digital Asset Services, LLC, will offer institutional investors custodial services and trade execution. The company said in a statement that it began researching digital assets in 2013 as part of its
M.I.T. Will Open a $1B College For AI, Backed By a $350M Gift From Blackstone's Stephen Schwarzman
The Massachusetts Institute of Technology announced on Monday that it will open a $1 billion college "to address the global opportunities and challenges" presented by the rise of artificial intelligence. The university says that it has two-thirds of the funding for the college already secured, with $350 million of that coming from Stephen Schwarzman, chief executive of the Blackstone Group.
Analyst Upgrades Fitbit Ahead of Push into MedTech Space
Fitness tracker Fitbit Inc (NYSE: FIT)'s announcement it will enter the health care and medical technology space is a bullish catalyst for the stock. The Analyst Wedbush analysts led by Michael Pachter upgraded Fitbit from Neutral to Outperform with an unchanged $6.50 price target. The Thesis Fitbit on Sept. 19 launched a new connected health platform called Fitbit Care, which
Argentina and the IMF: Second Time's a Charm
Like shock therapy, Argentina’s new lending agreement with the IMF delivers immediate benefits: increased funding and front-loaded disbursements to meet the country’s budget through next year. It also comes with serious side effects, including a likely deep recession in Argentina and the risk of political resistance leading up to the country’s elections in 2019. Still, from an investment perspective, we
Seeking Alpha in Bitcoin or Ethereum? Try Cryptocurrency Hedge Funds
Cryptocurrency hedge funds are still a fairly new investment vehicle, but we’re already getting a pretty good idea of how they stack up against simple passive investments in two common underlying currencies. The bitcoin price and ethereum price have both plunged this year, leaving cryptocurrency hedge funds scrambling for cover. However, performance data shows that in a down year, investing
Facebook Says Hackers Accessed Millions of Emails and Phone Numbers
Do you want the good news first or the the bad new? Here's the good news: The security breach Facebook announced in September actually affected 20 million fewer people than initially thought. About 30 million users instead of 50 million were hacked. Here's the bad news: Facebook says that 14 million of the 30 million users who were hacked had
The Big Shorts Dig into Tesla
Tesla, Inc. (NASDAQ: TSLA) short sellers have been an obsession for CEO Elon Musk in 2018. Unfortunately for Musk, the short sellers have had the winning trade as of late, with Tesla stock down 28.9 percent in the past year and Musk being forced out of his chairman role as part of a tentative settlement with the SEC. But rather