Royal Bank of Canada to Use Blockchain in Credit Scoring

According to the application, largest bank in Canada can be interested in blockchain techology
16 March 2018   760

The US Patent and Trademark Office (USPTO) has published a Royal Bank of Canada application for a blockchain platform for automatic credit ratings.

As noted in the document, based on historical and forecast data about the borrower, the platform automatically generates credit ratings. It was also noted that the new solution will use more initial data than in existing credit scoring systems to date. This, in turn, can make the process of analyzing the creditworthiness of the borrower more efficient.

In another aspect there is provided a system for credit and digital identity records with a distributed ledger of a plurality of nodes, each node including at least a computing device, and the distributed ledger having a plurality of blocks, each block comprising identification data linked to a set of identifiers for an individual, transaction data, a timestamp indicating when the block was created, and a hash reference for the distributed ledger.
 

RBC's Application

When a client submits an application for a loan, the system automatically determines the appropriate type of loan, generating a unique smart contract with the terms of its provision.

Also in the patent application it is said that the technology of the distributed registry guarantees the unchangeability of the data. In general, Royal Bank of Canada intends to make the process of assessing the creditworthiness more transparent.

Ledger Team to Find Issue in New Nano S Software

Last update's security improvements have affected the amount of device memory
15 February 2019   114

Ledger hardware wallet developers stated that an unforeseen problem was found in software version 1.5.5 for the Nano S model. Improvements in the security context have affected the amount of device memory.

When planning for this update we didn’t anticipate the impact it would have on Ledger Nano S capacity. This was not planned obsolescence, simply put, we messed up. We apologize and we’re committed to making it right.
 

Ledger Team

The project team apologized for the incident and promised to fix the problem during the second quarter of 2019.

The project also announced the addition of Nano S support in the Ledger Live mobile app on Android.

Earlier, researchers at Wallet.fail discovered a number of vulnerabilities in the Trezor and Ledger hardware cryptocurrency wallets. As a result, they were able to conduct a series of successful attacks on wallets during the Chaos Communication Congress in Leipzig.