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Gemalto joins Symbiont to use the Blockchain

Recently we talked about several companies all around the world, like Microsoft or IBM, that are conducting tests about the blockchain and how to introduce it on their business.
Well, today is the turn of Gemalto, a digital security multinational who announced today its interest in the bitcoin technology.
Gemalto has in fact started a new partnership with Symbiont, a well-known blockchain startup that aims at “bridging the gap between the emerging blockchain ecosystem and Wall Street, with the first issuance and trading platform for Smart Securities™”.
According to a new interview with Gemalto’s vice president of business strategy Mark Yakabuski, the blockchain has two potential applications within the market.
These are his words:
“We believe that the first generation of blockchain is going to be driven by the financial services industry. The second generation, we believe the blockchain has the ability to be adopted within the Internet of Things. […] From what I’ve seen, security within the bitcoin and blockchain solutions is certainly in its infancy and there’s a lot of room for growth and improvement. […] But we believe that the solutions built on blockchain will expand quite rapidly, and we want to be a leading security option for our customers as that expands.”
So Gemalto – together with Symbiont – wants to find all the possible applications of the blockchain (like smart and programmable contracts, for example) and also wants to use the Bitcoin technology to improve Gemalto’s existing hardware and APIs.
“Our partners are looking for the level of assurance we provide on our products, and that leads us to believe that these ledgers are going to be adopted by those institutions”, he continued during an interview with Coindesk.
However, it is important to remember that Gemalto already works with some bitcoin exchanges, using its HSMs for cryptographic security.
Furthermore their techs can “adopt to new use cases, and we’re doing what we’ve done across financial industries, which is protecting identities and the transactions they perform”, continued Yakabuski.

About the author: Amelia Tomasicchio is a writer and a journalist of Bitcoin-related news and articles. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Royal Bank of Canada wants to use the Blockchain

A good news comes today when Royal Bank of Canada (RBC) confirmed that it is doing tests on the blockchain to improve its consumer rewards and loyalty. 
Royal Bank of Canada has $343 billions of assets and now they want to expand their market using the blockchain.
In fact, during a new interview, Linda Mantia, RBC’s EVP of digital, payments and cards, commented that RBC wants to use the blockchain, focusing on “applications for capital markets, cross-border payments and smart contracts”.
These are her words:
“If you look at every major advancement enabled by technology, there’s always hype. Eighty percent of the money won’t make it, but the last 20% can be massive,” she said.
Bitcoin for loyalty and rewards
According to an interview conducted by Coindesk, she explained the value of the blockchain technology for the RBC’s loyalty project.
In fact, Mantia said that the blockchain would improve the loyalty value for their customers.
“We’ve always said, ‘Your points, your money’. So we don’t lock people into the rewards store. We also let in certain merchants like Best Buy, so clients can use our points to buy from them. We were moving pretty aggressively to let our clients think of it as another form of cash.”
In addition to this, Mantia commented that RBC wants to enlarge their payment products and wants to take advantages from privacy and anonimity of Bitcoin.

About the author: Amelia Tomasicchio is a writer and a journalist of Bitcoin-related news and articles. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio