Sony to use blockchain in user authentication system

Tech giant from Japan shows its interest in blockchain technology
30 October 2017   1318

The Japanese tech giant Sony offered the use of blockchain technology when creating a system of multifactor authentication of users in the performance of certain transactions. The corresponding patent application was published on October 26 on the website of the US Patent and Trademark Office, CoinDesk reports.

The document describes the use of two separate blockchain-platforms, which interact with each other within the framework of the Multifactor User Authentication (MFA) system.

This principle assumes that the user, in addition to the login and password, must also enter additional code that is generated with each new entry to a particular site or platform.

According to the idea of ​​Sony developers, these codes will generate one blockchain platform, after they will be transferred to the second platform to confirm the user's identification data when attempting to commit a transaction.

Possible transactions, as they say in the application, include "transfer of assets and the generation of contracts."

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   555

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.

 

Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.

 

Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.