Business Wire

Cambridge Blockchain Launches European Subsidiary and Joins Infrachain Blockchain Initiative to Address Regulatory Compliance Cost Crisis

Del

Cambridge Blockchain announced the formation of a new subsidiary to accelerate European deployments of the company’s digital identity compliance software for financial institutions. The new company, Cambridge Blockchain SAS, is based at the Partech Shaker startup campus in Paris and becomes the first company outside of Luxembourg to join the Infrachain blockchain initiative.

Since the financial crisis, the world’s largest banks have paid more than $321 billion in fines, with total compliance spending topping $270 billion annually. “Thanks to the support of Partech Ventures and Infrachain, we are positioned to tackle the banking industry’s greatest threat: the cost of regulatory compliance,” said Matthew Commons, CEO of Cambridge Blockchain. “It’s exciting to consider how our technology not only aligns with our European partners, but serves as a catalyst to solve some of the most complex regulatory challenges facing financial institutions.”

Financial institutions face growing compliance challenges related to identity, with know-your-customer costs that can reach up to $500 million per year for large banks. Strict data privacy rules such as the European General Data Protection Regulation also limit the ability to access validated customer identity attributes, with potential fines up to €20 million or 4% of annual revenues. Cambridge Blockchain’s distributed architecture resolves the competing challenges of transparency and privacy, resulting in faster customer onboarding, lower costs, and enhanced compliance through a single, trusted and consistent view of customer reference data.

By joining Infrachain Asbl, Cambridge Blockchain extends the reach of the pioneering nonprofit blockchain organization into France. “We are very proud to have Cambridge Blockchain join Infrachain as we create a pan-European community accelerating the adoption of Blockchain technology,” remarked Marco Houwen, Project Lead of Infrachain. “Infrachain acts as an orchestration platform between blockchain applications and a European network of independent certified nodes. We look forward to bridging the gap between the not-yet-compliant public blockchains and the centralized regulatory environment.”

“We are pleased to see Cambridge Blockchain launch its European operations just a few months after our investment,” explained Romain Lavault, General Partner at Partech Ventures. “Thanks to our ‘Europe Made Easy’ support program for foreign entrepreneurs, the Partech Shaker is the perfect place to hire top employees, connect with a highly international startup ecosystem and do business with major corporates from all industries.”

Contact information

Cambridge Blockchain
Pierre-Jean Hanard
media@cambridge-blockchain.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

GTIS Partners Clinches Sustainability Performance Top Honors for Third Year Running20.9.2017 13:32Pressemelding

GTIS Partners LP (“GTIS”), a real estate private equity firm headquartered in New York City, with offices in São Paulo, Los Angeles, San Francisco, Atlanta, Paris and Munich, today announced that the GTIS Brazil Real Estate Fund I has been recognized as 2017’s most sustainable private equity real estate investment fund in South America by the Global Real Estate Sustainability Benchmark (GRESB). This is the third year in a row that the fund has taken top honors. In addition, GRESB awarded GTIS Brazil Real Estate Fund II first place in the specialized category of non-listed real estate funds with hotel concentrations, and a number two ranking overall. GTIS Brazil Real Estate Fund III, which held its final closing in December 2016 with approximately $680 million in commitments, took third place. “GTIS Partners received another top honor with the #1 rank for South America in the

The Meet Group to Acquire LOVOO20.9.2017 12:31Pressemelding

The Meet Group, Inc. (NASDAQ:MEET), a public market leader in the mobile meeting space, today announced it has executed a definitive agreement to acquire LOVOO, a social dating app, for $70 million in cash, inclusive of a $5 million contingent earn-out. This acquisition furthers The Meet Group’s strategy to innovate, acquire, and build the largest mobile portfolio of brands for meeting new people. The LOVOO acquisition is expected to expand The Meet Group’s global footprint, increase the company’s scale and profitability, and diversify its business model by adding expertise in subscription and in-app purchasing. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170920005645/en/ LOVOO is a social and mobile technology company based in Germany: The #1 Dating App in German speaking countries (Ger

Arthur D. Little Urges Network Operators to Prepare for Next-Generation Internet of the GigaWorld20.9.2017 11:00Pressemelding

In its new report, “Unlocking GigaWorld Innovation: GigaApps in a GigaWorld,” Arthur D. Little (ADL) outlines the investment and monetization opportunities available to network operators ready to embrace the “GigaWorld”, the emerging third cycle of the internet. Defined by continuous and intelligent collaboration between individuals, devices and the built environment – and driven by applications in the areas of augmented reality, virtual telepresence and automated living – the GigaWorld has the potential to both power our economy and change the way we live. However, for it to be fully realized, network operators need to deliver improved Quality of Experience (QoE) for consumers and new Quality of Service (QoS) features for content and service providers. While operators have focused on delivering sufficient bandwidth and coverage to drive the current iteration of the internet, the GigaWorld

LINTEC Announces Four New Adhesive Materials for Labels20.9.2017 10:45Pressemelding

LINTEC Corporation (TOKYO: 7966) announced on September 20 that it will launch four newly developed label adhesive materials sequentially from October 2017. The new products will be on display prior to launch at Labelexpo Europe 2017, the world’s largest trade show in the label field. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170920005611/en/ LINTEC's super-strength adhesive labelstocks (Photo: Business Wire) Overview of Labelexpo Europe 2017 Date: September 25 (Mon.) to 28 (Thurs.) Venue: Brussels Expo, Belgium LINTEC Booth: Hall 3 3C 15 LINTEC Press Conference: 11:00 a.m. to 11:30 a.m., September 25, held in the Brussels Expo Press Office Theater Super-strength adhesive labelstocks: Extreme adhesion for rough surfaces Charac

EGS Invests in Artificial Intelligence from Quintiq20.9.2017 10:05Pressemelding

Quintiq, a Dassault Systèmes brand and global leader in supply chain planning and optimization (SCP&O), announces that it has partnered with European Gateway Services (EGS) to bring a new level of intelligence to intermodal logistics. European Gateway Services (EGS) offers the market an integrated network for transport to and from the European hinterland. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170920005578/en/ EGS invests in artificial intelligence from Quintiq (Photo: Business Wire) To better support its customers, EGS takes standard planning strategies to a new level with a synchromodal trip optimizer using Quintiq’s planning and optimization software, which employs artificial intelligence to choose the optimal modes and routes at all times. Quintiq technology makes s

EchoStar 105/SES-11 Shipped from Toulouse to the Cape for SpaceX Launch20.9.2017 09:03Pressemelding

SES, EchoStar Corp., and Airbus Defence and Space announced today that the new EchoStar 105/SES-11 spacecraft, built by Airbus, has been shipped from the Airbus facilities in Toulouse, France, to Cape Canaveral, Florida, for its forthcoming launch by SpaceX in October. The first satellite that EchoStar has constructed with manufacturer Airbus, EchoStar 105/SES-11 will be launched by SpaceX on a flight-proven Falcon 9 rocket from Launch Complex 39A at Kennedy Space Center, Florida. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170920005539/en/ EchoStar 105/SES-11 Shipped from Toulouse to the Cape for SpaceX Launch (Photo: Business Wire) EchoStar 105/SES-11, a high-powered hybrid Ku and C-band communications satellite, is a dual-mission satellite for US-based operator EchoStar and Luxembourg-based

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom