It's been a busy month for blockchain leader Rivetz, a security platform provider that continues to acquire businesses while also announcing integrations with companies, including Trustonic. Earlier this month, device and application security company Trustonic announced the integration of its Trusted Execution Environment APIs into Rivetz’s software development kit for securing blockchain-based applications.
The use of Trustonic’s APIs means that developers using the Rivetz platform will automatically have access to the decentralized cyber security protections and controls required when developing blockchain, IoT and cloud applications for high-risk markets such as financial services, legal and healthcare.
The integration of Trustonic’s technology into the Rivetz platform means that the private keys and instructions in applications can be executed in an area protected from the device’s normal operating system. This is necessary because rich operating systems (OS) have software and hardware vulnerabilities, which can be exploited by hackers and malware looking to take control of applications or to steal sensitive data. The Rivetz Authenticator uses the Trustonic TEE to provide advanced security capabilities such as storing and creating two-factor codes in a device's hardware, which provides greater levels of security than software protection alone. Along with an encrypted backup and restore feature, this provides the user with a safer alternative to SMS and other software-only two-factor authentication methods.
Ben Cade, CEO of Trustonic explained it this way: “Foundational, end-to-end security built in at the hardware level is crucial to protect both consumers and enterprises. Blockchain will enable transformational use cases that unlock tremendous market potential and value, so robust security and trust is essential. We look forward to continuing to enable and support Rivetz as they deliver a new level of truly secure blockchain apps to the market.”
The Rivetz solution is compatible with the 1.5 billion+ Trustonic-enabled devices that have already been deployed in the market, providing developers with simple tools to enhance their applications and offer a simpler and safer solution for the user. The new models of frictionless commerce will both protect users’ identities and improve their privacy on the network.
Rivetz is indeed a riveting company across the blockchain and IoT domains, having announced last week they acquired DISC Holdings Ltd., a developer of secure mobile blockchain-based payment applications. According to the company's news release, the acquisition is part of the Rivetz strategy that combines the Trusted Execution Environment (TEE) already built into the hardware of millions of devices with the immutable record-keeping of blockchain technology to deliver true e-commerce security to consumers.
The DISC Platform uses blockchain and distributed ledger technology to offer a faster, more efficient, secure and cost-effective alternative to existing payment platforms. Its smart payment app guides consumers toward more efficient and dynamic money management, along with providing secure payment functionality.
Rivetz technology will enable the platform to provide the tools for users to manage and operate their personal digital assets including identity, budgets, fiat payments and cryptocurrency assets. The system leverages the decentralized capabilities of blockchain to enable transparency between merchants and their users, while simultaneously protecting user privacy and data. The DISC solution has been built to support the European Union's General Data Protection Regulation (GDPR) for data privacy and protection.
In March, Rivetz acquired the assets of CyberDeadbolt, a Silicon Valley-based cyber security startup utilizing social encryption for the transfer and protection of digital assets. CyberDeadbolts platform incorporates human factors to authenticate and authorize the exchange of sensitive information, employing phonetics-based voice identification and multi-person authentication to provide customizable levels of security depending on the user's needs.
Looks like Rivetz is going after the financial markets, including mobile payments and data loss prevention, and likely many more. The company has "real products" working today, and moving early in the consolidation of blockchain and IoT security technology, after launching a successful token sale last year, rendering over $18 million.
About the Trustonic integration, Rivetz CEO Steven Sprague said “<t-base TEE technology is one of the most powerful tools available to combat global financial cyber fraud. It presents a unique opportunity to marry secure devices with modern crypto-based currencies and address the nagging security challenges that threaten to hold back adoption. We believe that it is now possible to meet consumers’ need for simple, safe transactions and the emerging demand for hardware-based protection of financial transactions. Our partnership with Trustonic will provide a critical piece to enhance the adoption of Bitcoin globally.”
Edited by
Ken Briodagh
