ShoCard Meets EU's GDPR 'Privacy by Design' Standards through its Identity Management Solutions
Blockchain-based identity management platform addresses provisions of EU data legislation
CUPERTINO, Calif., Jan. 22, 2018 (GLOBE NEWSWIRE) -- ShoCard, a leading blockchain-based identity management system (IMS), today announces its technology meets the European Union's (EU) new regulatory framework for data, known as the General Data Protection Regulation (GDPR), "Privacy by Design" standards. The IMS removes the necessity for authentication data to be stored on organization databases. Instead, it is stored completely on the user's mobile device, secured with their private key and shared via the blockchain. Affected EU-based companies, as well as U.S.-based and other foreign-based companies, processing or holding the personal data of persons residing in the EU, no matter where they are located or where its data is processed within the region, are expected to have GDPR compliant solutions in place ahead of the legislation's enforcement date of May 25, 2018.
With user privacy at the core of ShoCard's value proposition, ShoCard solutions meet "Privacy by Design" standards. ShoCard's IMS platform gives users control over their data and helps companies comply with GDPR by allowing companies to authenticate users without storing their authentication personally identifiable information (PII) data. By using the blockchain as a source of validation, ShoCard solutions protect a user's privacy, as the original data can never by reverse engineered. It can only be used, with the user's permission, to independently identify the authenticity of the user.
"The problem with merely encrypting data is that it's not secure enough to be a full solution to GDPR and data privacy requirements. If the key to the encrypted data is ever found, then it can be accessed by hackers," said Armin Ebrahimi, CEO and founder of ShoCard. "IMSs using blockchain technology, like ShoCard's solutions, remove the need to store PII at all, which circumvents the necessity of large, vulnerable databases and meets GDPR requirements."
In addition, using the platform ultimately reduces requests to access, erase and correct user data, as the data is not stored on company databases. Organizations also obtain definitive proof of consent for permission-based user data. ShoCard solutions facilitate permission-based access of information by giving users control of the sharing of their data, leaving an audit trail of consent on the blockchain. The user can remove that consent at any time, satisfying the GDPR's right to erasure.
Learn how ShoCard can help your company with GDPR compliance https://shocard.com/gdpr/.
ShoCard, Inc., based in Cupertino, Calif., is a mobile-identity platform built using blockchain technology that provides a simple and intuitive mobile application for definitive authentication while protecting users' privacy. This allows for a variety of use cases, such as repeat authentication, true-digital signature with non-perishable audit-trail, transaction authorization to prevent fraud, frictionless login services without username/passwords, and user authentication in financial transactions, travel, health, government and industries where digital identity matters.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ShoCard via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Mitratech’s DataStore Helps Financial Services Clients Across the Globe Meet Regulatory Requirements, Reduce Risk and Improve Efficiency12.11.2018 14:01 | Pressemelding
Major DataStore Update Includes New Reporting Resulting in Greater Visibility and Informed Decision Making AUSTIN, Texas, Nov. 12, 2018 (GLOBE NEWSWIRE) -- To continue to meet growing risk and compliance demands, Mitratech DataStore Enterprise Content Management (ECM) solution now offers advanced reporting capabilities to help financial services reduce risk and improve efficiency across the enterprise. With this new release, Mitratech customers and partners can leverage advanced reporting capabilities that include: Inventory management Workflow management Audit management Performance management “DataStore continues to expand globally. As the only ECM solution dedicated to financial services, we continue to develop our product to meet the unique needs of our clients,” said Jason Cropper, Mitratech Global Head of Product Marketing - GRC. “Compliance and efficiency are pretty much top of mind across the board, and with the enhanced reporting capabilities this release provides, our clients
Starry Leverages Quantenna’s 8x8 MIMO Capabilities to Bring Ultrafast 5G Fixed Wireless Access to Consumers12.11.2018 14:00 | Pressemelding
SAN JOSE, Calif., Nov. 12, 2018 (GLOBE NEWSWIRE) -- Quantenna Communications, Inc. (NASDAQ : QTNA) and Starry are joining forces to deliver pioneering gigabit Wi-Fi solutions in millimeter wave bands, leveraging Quantenna’s advanced 8x8 MIMO capabilities and Starry’s smart antenna RF technology. The integration of Quantenna 802.11ac and 802.11ax (Wi-Fi 6) chipsets in Starry’s base station technology, Starry Beam, provides end users with ultrafast speeds, increased bandwidth capacity, reliable connections and extended range. Starry first launched its pre-standard 5G, point-to-multipoint fixed wireless technology in 2016 in Boston; with Quantenna, Starry will continue to expand its network footprint to cities across the country, including Los Angeles, Washington, DC and New York City. Quantenna QSR10GU and QSR10GU-AX solutions support up to 10Gbps speed, 8x8 MIMO and advanced multi-user MIMO, delivering the maximum capacity within the minimum utilized spectrum, resulting in superior perf
Bombardier-Alstom consortium to supply 153 additional AZUR metro cars for Montréal12.11.2018 13:48 | Pressemelding
Order valued at approximately $448 million CDN With 60% Canadian content, contract will leverage a network of several hundred suppliers across Québec BERLIN, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Note to editors: To view the photo associated with this press release, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/a083fc50-492b-4958-8e12-e4f8f1a596d1 The consortium comprising Bombardier Transportation and Alstom has signed an amendment to the initial acquisition contract of October 2010, concluded with Société de transport de Montréal (STM), for the supply of an additional 153 metro cars (17 nine-car trainsets). These cars will move more riders each day with greater reliability and comfort. The value of this new order is approximately $448 million CDN ($340 million US, 299 million euro). Bombardier's share is valued at $281 million CDN ($213 million US, 188 million euro), and Alstom's share is valued at $167 million CDN ($127 million US, 112 million euro)
Standard Lithium Signs Joint Venture Term Sheet With Global Specialty Chemical Company LANXESS12.11.2018 12:30 | Pressemelding
VANCOUVER, British Columbia, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLL) (OTC-NASDAQ INTL DESIGNATION: STLHF) (FRA: S5L), announces that it has signed a term sheet (the “Term Sheet”) with global specialty chemical company LANXESS Corporation (“LANXESS”) for a contemplated joint venture in the commercial production of battery grade lithium from brine extracted from the Smackover Formation in South Arkansas. Standard Lithium is working with LANXESS in a phased approach as per terms of a binding memorandum of understanding, to develop commercial opportunities related to the production, marketing and sale of battery grade lithium products extracted from brine produced from the Smackover Formation. Under the proposed terms of the joint venture, LANXESS would contribute lithium extraction rights and grant access to its existing infrastructure to the joint venture, and Standard Lithium would contribute existing rights and leases he
Media Alert: Fifteenth World Robot Olympiad Finals Set in Thailand12.11.2018 11:00 | Pressemelding
Surprise Rules & Automation Will Challenge Young Competitors to Solve Real Problems at Popular Annual Event SUNNYVALE, Calif. and BILLUND, Denmark, Nov. 12, 2018 (GLOBE NEWSWIRE) -- The World Robot Olympiad™ Association plus joint sponsors LEGO® Education and Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, today announced this year’s global finals are due to take place starting this Friday, November 16, in Chiang Mai, Thailand. Four-hundred and eighty-four teams, comprising over 1,200 individuals from 63 different countries, are due to participate across eight age- and task-based categories. The teams will demonstrate their ability to problem-solve and innovate using LEGO-based robots they have designed, built and programmed themselves. This year’s event has a theme of ‘Food Matters’, around which some of the competitive challenges are based. The challenges are known in advance so the teams can prepare their approach, but they must also dea
Mash Group Plc Reports Interim Unaudited Q3 Financials, ended 30th September 201812.11.2018 10:17 | Pressemelding
Record revenue for the first nine months of 2018, up 167% from Q1-Q3/17. EBIT grew by 186% to EUR 9.5 million and lending volume grew by 161% for the same period. Revenue growing faster than lending volumes in the third quarter and strong growth expected to continue in Q4 2018, according to CEO Hickson. The first nine months of 2018 showed record growth in revenue, EBIT, lending volume and loan book as Mash continues to execute its growth plan. Strategic Highlights Mash announces launch of EUR 50 million equity issue as well as Europe’s first regulated digital share issue. Mash pay later services were launched in Sweden with partner Verifone. Mash develops partnership with Nets for ecommerce and point of sale, a leading payment services operator in the Nordic market. Operational Highlights The number of new customers grew by 229% Q1-Q3/18 compared to Q1-Q3/17. Registered merchants for Mash’s pay later point of sale solution grew 1054% year to date. The Mash Net Promoter Score reached 8
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom