IBM and Comcast Ventures Boost Blockchain Startups

MState, the startup accelerator, plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months
08 January 2018   937

IBM Corp. and Comcast Corp.’s venture arm will work together in an investment fund for startups that help corporations use blockchain. Under the partnership, Comcast Ventures will provide funding, while IBM will offer up support services to MState startups.

MState, the startup accelerator, plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months. MState, with locations in New York and San Francisco, will also connect its startups with Fortune 500 clients interested in implementing their technologies.

MState has already invested in its first startup, Blockdaemon, which helps companies roll out blockchain applications faster by letting them deploy and manage network nodes.

According to MState, the company may also accelerate other technologies, such as artificial intelligence and quantum computing soon.

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.
 

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.