Beyond crypto markets, a groundbreaking exploration of digital identity is unfolding in Buenos Aires 🔍 The city has become the first government globally to implement zero-knowledge proof technology for citizen identity management - marking a significant milestone in blockchain's practical applications. Why this development matters: 1. 3.6 million citizens gain self-custody of verified government credentials 2. Integration of 60+ official documents into the blockchain system 3. Zero-knowledge proofs enable selective information sharing while maintaining privacy The most compelling aspect? This isn't just another blockchain pilot. It's a real-world demonstration of how distributed ledger technology can enhance both security and accessibility in public services. This implementation bridges the gap between innovation and governance, showcasing blockchain's potential to enhance rather than replace existing systems. As more institutions explore digital transformation, this case study offers valuable insights into practical blockchain adoption. #BlockchainInnovation #DigitalTransformation #FutureOfIdentity #ZeroKnowledge Source: Buenos Aires Government Announcement - October 24, 2024
Lockchain.ai
Computer and Network Security
Athens, Georgia 1,284 followers
AI-powered risk management platform for the blockchain: with Lockchain.ai, security, compliance, fraud, and risk teams.
About us
AI risk management for blockchain. Navigate complexities confidently, respond to incidents, ensure safer transactions.
- Website
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https://lockchain.ai
External link for Lockchain.ai
- Industry
- Computer and Network Security
- Company size
- 11-50 employees
- Headquarters
- Athens, Georgia
- Type
- Privately Held
- Founded
- 2023
- Specialties
- blockchain, cybersecurity, and risk management
Locations
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Primary
320 E Clayton St
Unit 310
Athens, Georgia 30601, US
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New York , New York , US
Employees at Lockchain.ai
Updates
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Election Poll Update ⌛️ Mainstream: Data shows Harris with a solid lead Polymarket: Data shows Trump has the edge Why so different? Larger bets on Polymarket can skew the odds and perception, unlike mainstream and traditional polling mechanisms where 1 vote = 1 vote. But average bet sizes are pretty even (which can be queried, given that it's on-chain): Avg Bet ⤵️ Trump Wins / Harris Loses: $4,440.53 Harris Wins / Trump Loses: $4,389.08 We'll know which polls were the most accurate sentiment gauge in 11 short days...
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Major regulatory shifts are coming to the EU’s crypto landscape ⤵️ The MiCAR and DORA frameworks are set to transform how Crypto Asset Service Providers (CASPs) operate. Let’s break down what’s ahead and how you can stay compliant. MiCAR (Markets in Crypto-Assets Regulation) will take effect on December 30, 2024. It’s the EU’s answer to the crypto industry's call for clear, unified regulation. Here’s what it means for crypto firms: 1. Regulatory clarity across the EU 2. Enhanced investor protection 3. Reduced compliance costs With MiCAR, CASPs will no longer need to navigate a patchwork of national regulations. A single licensing regime will allow firms to operate across the entire EU. And it doesn’t stop there... Next, there is DORA (Digital Operational Resilience Act). This regulation, which will be implemented in early 2025, ensures CASPs have the necessary frameworks to manage operational risks. Here’s why it matters: 1. Stronger risk management 2. ICT incident reporting 3. Third-party risk monitoring Third-party risk is especially critical. DORA mandates that CASPs have strategies in place in case providers fail, which avoids major disruptions in the crypto space. With trust in the industry at stake, resilience is critical. But compliance comes with challenges. Manual monitoring and risk assessments can slow down growth. That’s where automation comes in. Lockchain.ai provides a scalable solution for real-time monitoring that reduces costs and improves efficiency by automating many critical compliance tasks required by MiCAR and DORA. This enables CASPs to focus on growth rather than paperwork. Read the full post 🔗 https://lnkd.in/gbrzj6jx
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Crypto's Big Play in Ohio Senate Race The 2024 Ohio Senate race is a critical battleground not just for political control but for the future of crypto regulation in the U.S. Crypto industry players are pouring millions into the race, backing GOP candidate Bernie Moreno against incumbent Sen. Sherrod Brown ⤵ Bernie Moreno, a blockchain entrepreneur, is pro-crypto and wants to foster an environment that boosts the sector. Meanwhile, Sen. Brown, chair of the Senate Banking Committee, has been skeptical, citing concerns over fraud and regulation. Moreno co-founded @BlockCerts, a blockchain startup that uses blockchain technology to manage property titles. The stakes are high: Moreno’s win could reshape the leadership of the Senate Banking Committee and influence the direction of U.S. crypto laws, potentially leading to more favorable regulations for digital assets. The crypto industry sees this race as pivotal in Ohio and nationwide. Millions in campaign funds have come from crypto advocacy groups, hoping to sway the race in favor of Moreno and influence federal crypto policy. Whether Moreno wins or Brown holds his seat, the Ohio Senate race will have significant implications for the future of cryptocurrency in U.S. politics.
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Bitcoin vs. US M1 Money Supply (September 2024) ⤵ ♦ BTC market cap: $1.15T ♦ US M1 supply: $18.05T ♦ BTC now ~6.4% of M1 supply In 2020, BTC was <1% of M1—quite the shift in 4 short years. Chart via Perplexity #Bitcoin #Macro
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The recent announcement of World Liberty Financial (WLFI), a project backed by the Trump family to promote US-pegged stablecoins, has sparked both interest and scrutiny. While the Trump family's involvement and potential compensation from the project have made headlines, security concerns should be our top priority—especially given WLFI's ties to Dough Finance, which suffered a $2.1 million hack in July. ⤵ In the Dough Finance hack, the attacker used a series of complex transactions involving flash loans, debt repayment, and manipulation of the 'deloop' feature. The exploit took advantage of a lack of call data validation in the smart contract's functions, which failed to validate flash loan callback data. The Dough Finance exploit highlights 4 critical DeFi security lessons: 1️⃣ Implement rigorous validation: All input data must be thoroughly verified, especially in flash loan callbacks. 2️⃣ Audit complex functions: While innovative, the 'deloop' feature introduced vulnerabilities, so regular audits of new features are crucial. 3️⃣ Limit contract permissions: Implement strict access controls and minimize the potential impact of any single function. 4️⃣ Comprehensive testing: Develop extensive test cases that cover all possible scenarios, including edge cases. As DeFi evolves and attracts high-profile backers, these security considerations become increasingly crucial. The Dough Finance hack serves as a stark reminder that vulnerabilities can result in immediate and significant financial losses for users in the world of DeFi. If this vulnerability existed in Dough Finance, could similar oversights be present in other DeFi projects, including high-profile ones like WLFI? #DeFiSecurity #CryptoRisk #FinancialInnovation #RiskManagement
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Kraken vs. SEC: A Pivotal Moment for Crypto Regulation? Recent developments in the Kraken vs. SEC lawsuit have caught the attention of the crypto industry. ⤵ 1️⃣ A federal judge has denied Kraken's bid to dismiss the SEC's lawsuit, allowing the case to proceed. 2️⃣ The SEC alleges Kraken operated as an unregistered securities exchange, broker, dealer, and clearing agency. 3️⃣ The judge ruled that the SEC "plausibly alleged" some cryptocurrency transactions on Kraken's platform could be considered securities. This case could have far-reaching implications for: ♦ How crypto exchanges operate in the US ♦ The classification of specific crypto assets as securities ♦ The SEC's regulatory approach to the crypto industry The current election season is adding political pressure to the mix, and the outcome of this case could shape the future of crypto in the US 🇺🇸 #Crypto #CryptoRegulation #SEC #FinTech
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$BTC dominance surges to 56% (from 38.7% in Nov 2022), signaling substantial market consolidation. $ETH and alts lose ground as investors pivot to established assets amid market uncertainty, regulatory hurdles, and a maturing crypto landscape. ⤵️ 📉 $ETH dominance is down from 16.8% to 15.2% While ETH remains the second-largest cryptocurrency, its reduced dominance indicates a slower adoption rate than BTC and potential concerns over scalability, network fees, and competition. 📉 Altcoin market share down from 27.2% to 21.3% This contraction reflects a flight to quality, where investors have consolidated their holdings in more established assets like BTC and signals a challenging environment for smaller projects to sustain growth.