Subscribe
April 22, 2026
Sign In

Capitalizations Index – B ∞/21M

Menu
Breaking
Is Bitcoin Legal? Understanding Its Status Worldwide Bitcoin and Anonymity: Understanding Its Pseudonymous Nature Hardware Wallets: The Safest Method to Secure Bitcoin How Bitcoin Network Adjusts Mining Difficulty Regularly Understanding Bitcoin Forks: When a Blockchain Splits

Mastercard Sees Blockchain as a Means to Combat Identity Theft

Cryptovest
Mastercard Sees Blockchain as a Means to Combat Identity Theft

Mastercard has filed for a patent to employ a Blockchain system to keep fraudsters from carrying out their identity theft schemes.

Blockchain on Medium
Samsung Will Track Deliveries Using Blockchain
Mastercard sees blockchain as a means to combat identity theft

International transnational electronics company Samsung plans to use the platform on blockchain to track its own supplies around the world.

The head of Samsung SDS said that the blockchain will reduce the company’s expenses related to transportation of products by 20%. This was reported in an interview with Bloomberg by Song Kwang-woo, a vice president at SDS.

“It will have an enormous impact on the supply chains of manufacturing industries,” said Song.“Blockchain is a core platform to fuel our digital transformation.”

In addition, he noted that the division of Samsung SDS is currently engaged in the development of a platform on blockchain specially for Samsung Electronics, which will uniquely allow the company to take first place among the world’s leading manufacturers who have seriously taken up the innovation with such a huge scale.

SDS has been known to be implementing blockchain into companies, which specialize in logistics and shipping, for quite a while. The proof of this is its first project for registering and tracking exports and imports to Korea, which was completed with great success.

SDS revealed its plans for 2018, which include handling of 488,000 tons of air cargo and 1 million tons of container freight. Samsung flagship devices, such as the Galaxy S9 and Note 9, as well as home appliances, OLED displays that are used to create Apple iPhone and other products will be transported

Mastercard sees blockchain as a means to combat identity theft

The accredited investor limitation exists to protect the public from being misled by bad actors —…

The accredited investor limitation exists to protect the public from being misled by bad actors — presumably because wealthy individuals have the means to sift through the noise and enough disposable income to be ok if the purchased equity becomes worthless. Rebranding tokens from securities to API keys does not eliminate bad actors from potentially exploiting token buyers. Further, the decentralized/unregulated nature of tokens make it an even more ripe environment for exploitation. Is this a problem that needs to be addressed?

Mastercard sees blockchain as a means to combat identity theft

Previous Article

Facts About Corion ICO !!

 Next Article

Startup To Help Traditional Businesses Effectively Embrace Blockchain Technologies

You might be interested in …

Paypal is seeking faster crypto payments tech

PayPal Is Seeking Faster Crypto Payments Tech

PayPal Is Seeking Faster Crypto Payments Tech PayPal is eyeing a way to boost the speed of cryptocurrency payments, a newly-released patent filing shows. An application for an “Expedited Virtual Currency Transaction System” published on […]

Malaysian Government to Introduce Regulatory Framework for Cryptocurrencies

After China and South Korea started cracking down on cryptocurrencies and altcoin exchanges, a new report states that the Malaysian government is preparing a regulatory framework for cryptocurrencies. 

More Cryptocurrency Regulations

 

A few months ago, news emerged that the Chinese regulatory body imposed bans and regulations regarding cryptocurrency activities. The ban mainly focused on Initial Coin Offerings or ICOs, because regulators feared that some of them may have been fraudulent. Regulators demanded that the token sale operators refund their investors and immediately cease activities until further notice.

Shortly after the Chinese financial regulatory body banned ICOs, South Korea’s Financial Services Commission declared a country-wide ban on all ICOs and token sales. Some experts believe that the bans were appropriate so regulators can better understand the ICO market and its mechanism. The Chinese government regulators also warned certain bitcoin and cryptocurrencies exchanges to close down their operations until proper regulatory mechanisms are properly installed. Regulators do not only want to protect consumers but they also want to stop money laundering and terrorist financing operations with appropriate KYC/AML procedures.

Malaysia's  Regulatory Framework

Malaysia’s  Regulatory Framework

Recently, an article by Reuters suggested that Malaysia is also planning to introduce its own regulatory framework for cryptocurrencies. Governor Muhammad Ibrahim stated in a financial summit that through the new regulatory framework, individuals that convert cryptocurrencies into fiat money will be declared “reporting institutions”. This would require financial institutions to properly audit each exchange from cryptocurrencies to fiat, in order to appropriately detect any illegal activities.

Ibrahim stated:

This is to prevent the abuse of the system for criminal and unlawful activities and ensuring the stability and integrity of the financial system,

He also added:

Any information that we have that is relevant to the security of our friends in the region, we will share. My expectation is that will be reciprocated,

Malaysian regulators fear that cryptocurrencies may be used to finance terrorism-related groups and its operations. There have been previous incidents were terroristic groups used bank transfers to finance their illegal activities.

What are your thoughts on Malaysia’s upcoming regulatory framework for cryptocurrencies? Do you think that cryptocurrency users may benefit and be protected by the framework? Let us know in the comments below!

Images courtesy of Pixabay, The Malaysian Reserve

The post Malaysian Government to Introduce Regulatory Framework for Cryptocurrencies appeared first on Bitcoinist.com.

Close Menu