Microsoft to Use Trusted Execution Environment in DLT

IT giant had filed two new applications to the US Patent and Trademark Office (USPTO)
14 August 2018   900

Microsoft has submitted two new applications to the US Patent and Trademark Office (USPTO) for the use of the Trusted Execution Environment (TEE) in future blockchain solutions. This is reported by Coindesk.

According to patents, TEE is listed in the role of code in the node-validator, predetermined by the type of blockchain or other security protocol. In this form, certification based on TEE will be able to verify the participants in the system who own the same information as the nodes.

As indicated in the first patent, this solution will find use in blockchain consortiums. In particular, the first node will store the list of members of the association among another block of information, and TEE will monitor the safe inclusion of new members in the "consortium network."

In the second application, Microsoft said that the solution based on TEE will help in verification of transactions in the blockchain, where the authorized network is the authorized group of persons.

With the TEE-certification process, some transactions can be processed and confirmed without the need for decryption before further transmission on the network.

According to the developers, thanks to the innovation, the network will be able to accept transactions and directly update the structure of the block.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   230

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.