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40-Strong Blockchain Insurance Group B3i Appoints CEO

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Insurance industry blockchain group B3i, which is now building DLT solutions for some 40 member firms, has appointed John Carolin as chief executive officer.

Carolin, who joined B3i as chief financial officer in March 2018, had served as interim CEO since March of this year.

B3i began life back in October 2016 as a blockchain consortium and later became an independent company owned by 17 insurance and reinsurance industry big hitters like Allianz, Munich Re, Swiss Re, Tokio Marine, XL Catlin and Zurich.

The company added $16 million to its coffers back in March 2019, after suggestions it was trying to raise as much as

$200 million, according to some reports.

Last month B3i, which aims to use distributed ledgers to streamline back-office processes and claims handling, held a hackathon to let industry members test its platform.

Speaking about the B3i hackathon, Carolin said:

“Our team of subject matter experts is highly motivated, especially following the very positive feedback received last month at our Hackathon to test the initial product.”

Last year, B3i decided to switch from Hyperledger Fabric to R3’s Corda platform. The move was followed soon after by another blockchain insurance consortium, RiskBlock, also moving to Corda.

“I look forward to leading the B3i team as we execute on a bold vision to enable better insurance through frictionless risk transfer,” Carolin added.

source:coindesk.

Blockchain

Bitfinex Integrates Know Your Transaction by Chainalysis

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Blockchain analysis firms continue to gain more attention. In the case of Chainalysis, the company will now collaborate with Bitfinex to keep criminals at bay. 

It is crucial for any cryptocurrency exchange to ensure no illicit money streams pass through its order books.

CHAINALYSIS TOOL HELPS OUT BITFINEX

That is often easier said than done, unless one has proper countermeasures in place.

Bitfinex is seemingly stepping up its game in this particular department.

The company has begun integrating a new compliance tool developed by blockchain analysis outfit Chainalysis. 

This tool is known as Know Your Transaction, and is designed to detect any and all suspicious transactions in real-time. 

It is not the first major cryptocurrency

exchange to integrate this particular tool.

Both Bittrex and Binance took very similar measures earlier this year.

It has become more than apparent that cryptocurrency exchanges need to step up their compliance measures.

Identifying illicit money streams and ensuring they cannot be utilized in any way is crucial to bring more legitimacy to cryptocurrency. The big question is how users will respond to having their transactions scrutinized even further due to these new tools.

It is not unthinkable that a lot of users will look for alternative exchanges due to these new measures.

Given the current regulatory pressure, it seems tools such as Know Your Transaction will become the norm in the industry sooner rather than later. 

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CHAINALYSIS PARTNERS WITH BITFINEX FOR PRIVACY-SAFE COMPLIANCE

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The Rundown

  • Regulators Worldwide Start Looking at Blockchain Activity Directly
  • Chainalysis Could Track Compromised Wallets

This week, Chainalysis announced the completion of a full AML solution applied on the Bitfinex exchange. The blockchain analysis is becoming the next frontier of verification, as the Financial Action Task Force (FATF) rules start to be unrolled from the summer of 2020.


REGULATORS WORLDWIDE START LOOKING AT BLOCKCHAIN ACTIVITY DIRECTLY

Chainalysis remarks that institutions are starting to scrutinize blockchains themselves. The startup is offering its approach to proving the origin of funds

for multiple coins and tokens.

Jason Bonds, Chief Revenue Officer at Chainalysis, commented,

Bitfinex is known as a destination for cryptocurrency traders seeking liquidity across various cryptocurrencies, and that volume requires an automated blockchain analysis solution in order to comply with regulations across the world…We are thrilled to work with Bitfinex as we mutually invest in supporting multiple cryptocurrencies

Bitfinex is not an exchange without controversy, and has faced multiple explorations into its activity. The market operator also had significant problems with its banking services, and has gone through periods of non-transparent banking. However, the exchange is taking up a significant reporting effort.

Chainalysis already tracks the biggest blockchains, as well as ERC-20 tokens, covering 41 top assets and multiple tokens. The Chainalysis KYT (know-your-transaction) system allows for the monitoring of multiple chains for suspicious activity.

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BitMovio Announces Equity Crowdfunding, New Partnerships for Asia Expansion and Community Development, and New Product Feature Enhancements

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BitMovio’s mission is to bring a Fortnite-style gamified experience to video entertainment. The platform aims to fundamentally change how content creators, viewers, and financiers participate, interact, and engage within the video content ecosystem.

Since launched its open beta in early 2019, BitMovio has attracted more than 1,000 creator channels on the platform with more than 7,000 hours of content uploaded.

Please Note: This is a Press Release

BitMovio Equity Crowdfunding is Live on Netcapital

Contents [Show]

BitMovio recently launched its equity crowdfunding on Netcapital and invites all global supporters to contribute while participating in its mission to redefine the video streaming market. Angel investors, partners, content creators, and fans can support the platform’s mission by pledging with as little as $100. Those who pledge before December 31, 2019 will also receive 20% worth of bonus tokens.

Featuring a freemium revenue model, BitMovio is a blockchain-enabled, gamified video entertainment platform built for the Fortnite generation. Democratizing investment in early stage companies is consistent with BitMovio’s core values as it allows anyone to invest in the company’s success and become brand ambassadors to help grow its community and advocate for its mission. The platform will use its crowdfunding resources to continue to bridge blockchain and the video entertainment free marketplace.

New Partnership with Singapore Management University

BitMovio announced a new partnership with Singapore Management University’s Business Innovations Generator (SMU BIG). This is part of the company’s continuing efforts to capture the rapidly growing entertainment and blockchain industry in Asia, particularly in Southeast Asia. SMU BIG is hosted by SMU’s Institute of Innovation

and Entrepreneurship.

Ecosystem Partners for Product Enhancements and Community Development

To continue to enhance its hybrid video streaming infrastructure and gamified video streaming experience, BitMovio partners with world-class players in the ecosystem for product and community development.

Theta: Decentralized Content Delivery Network

BitMovio is in the process of integrating with ecosystem partner Theta’s Decentralized Content Delivery Network infrastructure. This will also allow the platform to access to Theta’s multi-million-strong community of users. BitMovio anticipates that the Beta version will be online by the end of December 2019 or early January 2020 at the latest.

Razer Gold: Fintech Solution for Emerging eSports Market

BitMovio has announced that it is in the process of finalizing partnership with Razer Gold, a fintech solution for the emerging eSports market by the eSports hardware and system provider Razer. This new partnership will introduce Razer’s community of over 80 million eSports fans to BitMovio, especially in the emerging market.

BitTorrent File System: Decentralized Cloud Storage

BitMovio is also in discussion to integrate with BitTorrent File System (BTFS)’s decentralized cloud storage protocol. It will also allow BitMovio to tap into the BTFS community of over 100 million users.

Recently Launched Usability Survey Campaign

BitMovio has recently launched a product usability survey campaign to continue to improve product usability and increase community adoption. Community members can directly provide feedback and suggestions to the platform’s developers. The first 1,000 respondents will receive 1,000 MoviBits as a token of appreciation. Respondents need to have an account registered on BitMovio to receive the reward.

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