Sixgill LLC has been reigning the data automation and authenticity products market since its inception. Now it is all set to launch a blockchain-based data authenticity solution under the name Sixgill Integrity™ 1.0. This authenticity solution is all set to fulfill the most critical data authenticity needs of the enterprises with its robust potential that can monitor the veracities of any kind of data streams.

The need for data authenticity has been manifold. The massive data processing in the Cloud network has not been free from intrusions. Therefore, the present crisis demands something that can assure data security beyond any limits and what else can provide the maximum protection from data vulnerability than blockchain technology. Sixgill experts tried to transform this vision into the reality of creating a blockchain-based data authenticity solution and this gave birth to Sixgill Integrity.

Integrity is a lot different and superior as compared to other data security offerings available. The basic difference lies in the fact that Integrity integrates DLT, which is the distributed ledger technology imbibed in the blockchain technology, with the modern distributed data system. The robust architecture of Integrity that combines the immutable properties of the private/public blockchains with the off-chain and on-chain data layers makes it possible. DLT makes it easier for Integrity to use cryptography and blockchain in authenticating the origin of the data completely. It also helps in verifying the data content and data chronology.

However, instead of using the normal blockchain technology, Sixgill chose the hybrid on-chain and off-chain architecture of blockchain technology. With such an implementation, Integrity is very hopeful about the project and as such, it believes that the organizations will be highly benefitted on aspects like security, transparency, and immutability of both the public and the private blockchain networks.

Indonesian multi-finance company Indosurya Inti Finance today announced that it has managed to raise 50 million Euros worth of funding credit facilities. The money has been raised from two globally renowned institutions; the Netherlands-based FMO and Proparco, From France. However, the important bit about the development is that the money is going to be used to finance a wide range of small and medium enterprises in Indonesia.

Indosurya is going to be involved in providing SMEs in Indonesia with working capital loans. Additionally, it will also provide those businesses with Indosurya products that could improve business operations. On the other hand, it should also be noted that finance companies in Indonesia are currently going through liquidity issues. The fact that Indosurya managed to get a credit facility from two renowned institutions is an indictment of its capabilities as a business.

Both FMO and Proparco have been long term advocates of financing SMEs in developing countries. The SME sector is one of the most important constituents of the Indonesian economy and contributes as much as 57% to Indonesia’s annual GDP. Due to this credit facility, Indosurya will now be able to provide financing support to as many as 400 SMEs in the country.

Indosurya Finance’s CEO, Henry Surya, spoke about the company’s targets with regards to its SME push. He said,

“Our target for channeling financing for SME entrepreneurs in Indonesia through these credit facilities must be achieved within one to one-and-a-half years.”

It is a significant development, and it remains to be seen how the finance company boosts the SME businesses in the country.

Supply chain marketplaces and payments company Tradeshift has moved on to new premises in downtown Bucharest. The move to larger premises signals the company’s continued expansion in Romania. The new office of the company is located in the Tower Center, which is regarded as one of the most highly sought after locations in Bucharest for businesses. The latest move is an indication of the sort of growth that Tradeshift has enjoyed in Romania so far.

The company has also grown at a global level over the past few years. Since June last year, the number of employees at its Bucharest office has risen by as much as 100%. In total, 144 employees have been added to the operations in Bucharest. Since the staff strength has increased to such a degree, the move to new premises had become necessary. The new office will be able to accommodate all the developers, finance, and human resource professionals.

Oana Apostol, Tradeshift DevOps Engineer, Bucharest, spoke about the company and its aims. She said,

“Tradeshift is quite unlike any other tech company present in Bucharest. Employees are empowered to bring forward ideas and work on their own projects, I am encouraged to think for myself, and creativity is highly valued within the organization.”

The company’s operations in Bucharest have become highly important over the past year.

It is the hub of Tradeshift’s app development and cloud operations, which lie at the core of the business. Tradeshift’s Talent Acquisition Head, Eric Knauf, stated that Romania has proven to be an excellent source of talented individuals who have helped the company immensely. The new Bucharest office has also lined up a series of Developer Meetups over the next few months.

Industry veteran Patricia Sutter has been appointed as the new head of the Wells Fargo Corporate Trust Services on October 15. She replaces Troy Kilpatrick, who was presiding the position since 2014. Troy Kilpatrick has now taken charge of the Risk transformation work for the company.

She will work in the Chicago office and will be reporting to David Marks, Head of Wells Fargo Commercial Capital (WLCC). She will be leading a team of 2000 professionals holding the new responsibility.

Sutter has been leading the CTS Chicago office for the last 15 years and is a renowned corporate leader with 31 years of leadership experience at various prominent organizations. She has also headed multiple lead roles within CTS. Previously, she was in charge of the Conventional Debt Specialized Services (CDSS) team.

About Wells Fargo 

Wells Fargo & Company is a prominent global financial services corporation with $1.9 trillion assets. It was founded in 1852 and its headquarters are based in San Francisco. Wells Fargo has a huge network of 7600 offices across 32 countries. With 263,000 employees, it offers investment services, banking, and mortgage product and services and commercial finance.

David Marks, Head of WLCC quoted, “Wells Fargo is a leading provider of trust and agency services related to debt and equity securities, and we will continue to deliver the highest caliber of services to corporate Trust clients under Patricia’s leadership.”

Praising her business acumen, he said, “Patricia has an extraordinary knowledge of the business and our clients and she will be a valued addition to the WFCC leadership team.”

Recent reshuffle in the company

Recently, Wells Fargo has been going through a reshuffling process to expand its mortgage services and is going to hire more workforce to meet the growing business volumes. This move is followed by the last year’s dismissal of 1000 employees from the same department.

A fresh report has revealed that Brazilian banking giant Banco Inter SA is exploring the option of tying up with ride-hailing giant Uber over a financial services partnership. A partnership of this nature is helpful to both the bank as well as the ride-hailing giant. A source who is close to the developments could not divulge the actual terms of any possible partnership, but it is believed that the partnership is targeted at Uber drivers in Brazil. In addition to the drivers, one must also consider the millions of customers of Banco Inter customers in the South American country. At this point in time, Brazil is one of the most important markets for Uber and has emerged as the biggest market after the United States.

As a matter of fact, Sao Paulo alone records the highest number of Uber rides for any city in the world. In this regard, it is important to point out that Uber has done something of a similar nature in Mexico. It partnered with Mastercard and BBVA to create a debit card for Uber drivers. Countries like Mexico mostly run on cash and such partnerships eventually help in bringing formal banking to unbanked people in a big way. Uber could be trying something of a similar nature in Brazil.

This move will also be beneficial to Uber’s biggest shareholder SoftBank, which has invested billions in South America in recent years. SoftBank has invested in Fintech and healthcare sectors in a big way. This move will, hence, help SoftBank’s larger vision of bringing millions of Brazilians into electronic payments platforms. Back in August, the Chief Operating Officer of SoftBank Marcelo Claure spoke about its plans in South America. He said,

“There are so much innovation and disruption taking place in the region and I believe the business opportunities have never been stronger.”

Leading cryptocurrency exchange Binance has announced the launch of Peer-to-peer trading also known as P2P in China. With the launch, the platform aims to extend support to traders making transactions via many popular Chinese payment apps like Alipay and Wechat Pay. The P2P services can be accessed by the citizens of China.

According to a report, Binance launched P2P trading functionality with ETH, BTC, and USDT for trading against the Chinese Yuan or CNY. Binance has emerged as the world’s leading crypto exchange platform in terms of volume. In the beginning, only Android users with Binance accounts will be able to access P2P trading functionality. Additionally, Android users must have registered the Binance accounts for more than 30 days.

Binance has also assured that it will gradually launch this service for iOS and web interface users.

Changpeng Zhao, CEO of Binance, took to his Twitter handle and divulged that they are beginning with China so that over 1.4 billion people can use the latest P2P functionality. The exchange will soon expand the service in several other regions. When asked about the options of choosing Alipay and Wechat Pay as a mode of payment for the service, Zhao revealed that the leading Chinese apps have been supported for users to make payments for one another without any direct involvement of the company.

As of now, Alipay and Wechat pay have been the dominant players in the local payment market for a few years. Users are allowed to use these two apps almost anywhere in the country. These apps QR codes can be displayed right from the vegetable sellers on streets to luxury retailers. China is fast moving in the direction to become a cashless society. A recent survey reflected a swift rise and popularity of mobile payments in the world’s most populous economy. People in China now seldom use cash to make their transactions.

Alipay and Wechat Pay have emerged a force to reckon with. Now Alipay and Wechat have become so popular in the country that it will not be a big surprise if they become popular with cryptocurrency investors in the coming time.

Zhao also clarified that Binance is in no direct connection with Alipay or Wechat to make these features accessible. He tweeted, “Some confusion by some news outlets.”

Meanwhile, the Malta-based Binance is also planning to provide its services in South Korea by launching a new exchange.

Zhao divulged the exchange plan to offers its services in a new market. In a bid to simplify the process, it has decided to collaborate with local news outlets and local associates.

Zhao said, “We do not know the details related to the establishment of the Korean branch. We are working with local partners, but we do not know the details.”

Binance spokesperson informed that the exchange is planning to work with a blockchain FinTech company, BxB and right now is in discussion with the firm. It has not yet taken any specific decision on it. The exchange has yet to decide and consider whether to build a branch in South Korea or not.

Zhao revealed that the exchange firm is clueless about the establishment details of its new headquarter in S.Korea.

In a bid to provide more connected vehicles in the future, Audi has signed a memorandum of understanding with Deutsche Telekom and Ingolstadt City. According to the press released by the German carmaker, this agreement will enable Audi to use 5G Technology in its cars in the future. The primary aim of the agreement is to provide safe urban mobility with the help of 5G and to aid the overall sustainability of transportation in the coming years. Recently Deutsche Telekom Organization hires a blockchain professor in association with a berlin-based university.

Connected Cars

Audi is planning to use 5G Technology in its future vehicles significantly, and the use of this higher bandwidth will help the occupants to have data access on a real-time basis. 5G will open new avenues of communication between the vehicles on the road, and it could pave the way for the number of future driving technologies included in the automated one. Along with 5G Technology, the internet of things (IoT) will also play a crucial role in providing real-time data to connected vehicles.

Speaking on the development, Managing Director of Audi Electronics Venture GmbH, Peter Steiner, said that the company is working on the theme of “consistently connected” technology and aims to contribute towards improving the urban mobility across the globe. Together with its partners, Audi aims to develop sustainable solutions for safe transportation.

Future Scenarios

One possible future scenario of connected vehicles could manifest in the form of an exchange of information about the traffic and the parking spaces at various road junctions. That will help to streamline the movement of the vehicles as divers can fine-tune their movement according to the available information. Even cyclists and pedestrians are going to get benefited from the adoption of technology, and the overall exchange of information on a real-time basis will help save not only a lot of time but also cost associated with traffic jams and congestions.