Fintech PR
For Blockchain, ARPA’s Privacy Computing is the Next Big Thing
Blockchain immutably records information, but ventures such as ARPA are committed to protecting business and people’s privacy. The first-ever privacy-computation network and the world’s first China–South Korea joint initial exchange offering (IEO) project is building a secure computation network that’s compatible with blockchain. (It’s compatible with existing chains such as Ethereum and EOS.) bank
ARPA’s platform gives developers secure analysis and utilization, but also protects data from getting exposed to third parties.
Why is that important?
Because studies show that most users are concerned about the collection of personal information, and that more laws should be passed to defend privacy. Whether or not that happens remains to be seen, given that regulatory guidance worldwide have not kept pace with the speed of crypto and public-ledger innovation. Europe’s GDPR law which took effect last year is being closely followed by companies, regulators, and watchdogs around the world.
In North America, between two-thirds and three-fourths of people are concerned about data protection, depending on the study. A 2018 survey by Akamai found that 71% of respondents actively use software that blocks ads, protects privacy, and similar features. And 66% said more governments should pass privacy-protection laws. If these sentiments hold at scale, then lawmakers have a clear mandate from voters to safeguard personal details.
Protecting Privacy in Computing
“Blockchain privacy and scalability are the two biggest problems faced by public chains,” says Yemu Xu, ARPA co-founder and Chief Growth Officer. “Our technology is based on multi-party security computing (MPC) and we are building what’s called ‘smart contract 2.0’.”
In layman’s terms, MPC allows several parties to perform joint computations in private. For example, financial institutions can search shared blacklists or perform joint risk analysis for borrowers without disclosing each party’s private information. Or in digital marketing, MPC allows advertisers to display ads based on massive user behavior tags, without violating user privacy.
Nearly four-fifths (83%) of security professionals believe that employees have accidentally exposed customer or business sensitive data at their organization, according to a Feb. 2019 survey by Egress.
Architecting Privacy Smart Contracts
ARPA is also developing private smart contracts. Smart contracts (programmable contracts) are expected to become a US$300 million market by 2023. It’s not currently huge, but the innovation is expected to significantly reduce costs for companies and individuals by eliminating middleman fees. Privacy smart contracts protect sensitive data from access by nefarious actors.
When it comes to making blockchains sustainable, ARPA’s founders have plans to develop computational sharding. It’s an ambitious goal because sharding involves the partitioning of chunks of data to make chains sustainable, but a few projects (including Ethereum) have found the solution difficult to implement. Sharding is a proposed solution to blockchain bloat, where networks can get bogged down or become unreliable because of too much data recorded on-chain.
Applications Across Industries
There are some key benefits, but mainly around security and global info sharing.
Data is a new asset class, and computational privacy is key to preventing hacks or unauthorized access. One of the problems in the decentralization movement is that when it comes to cryptocurrency exchanges, private keys are controlled by central entities. Therefore, when sensitive data are safeguarded and distributed across multiple parties, hackers have trouble accessing digital funds or proprietary info.
“Exciting to-B and to-C applications can be implemented on ARPA secure computing network,” says Yemu Xu. “These include enterprise-level credit checking, accurate marketing, medical diagnosis, consumer-level personal data security wallets, distributed key management, among others.”
The need for secure data transcends industries, but it’s especially useful in financial services, healthcare, and related fields. When organizations can secure computations between other collaborating entities anywhere in the world, that can unleash a new flow of information processing that wasn’t possible before.
“The entry point of ARPA is enterprise-level privacy data sharing and secure data monetization,” says ARPA’s CEO Felix Xu. “This includes multi-party joint credit information; data renting; secure data analysis and other scenarios in the financial industry.” The platform also has use cases in insurance, big data marketing, healthcare, and artificial intelligence.
ARPA was founded in April 2018, and has backing from over a dozen institutional investors, including TechCrunch’s founder’s Arrington XRP, GBIC, Genesis Capital and Metropolis VC. It plans a mainnet release later this year. Currently, ARPA token is being traded on gate.io, KuCoin, and soon on Binance DEX.
SOURCE ARPA
Fintech PR
Sustainable Infrastructure Holding Company (“SISCO”) Q3FY24 revenue (excluding accounting construction revenue) increases by 23.8% to 341.8 million
- Revenue grew by 23.8% compared to previous year
- Gross profit of SAR 179.8 million, a 21.7% increase compared to Q3FY23
- Adjusted EBITDA rose 29.5% to SAR 210.2 million
JEDDAH, Saudi Arabia, Nov. 16, 2024 /PRNewswire/ — Sustainable Infrastructure Holding Company (“SISCO”, “TADAWUL: 2190”), Saudi Arabia’s leading strategic investor in Ports & Logistics and Water Solutions has announced its financial results for the quarter ended 30 September 2024.
Revenues for the third quarter of 2024, excluding accounting construction revenue, grew by 23.8% compared to Q3FY23 to reach SAR 341.8 million. On a quarter-to-quarter basis, revenues grew by 13.0% compared to Q2FY24.
The third-quarter gross profit of SAR 179.8 million represents 14.7% quarter-on-quarter growth and 21.7% growth compared to Q3FY23. The gross profit margin for Q3FY24 was down 0.9% year-on-year, due to increased depreciation and direct costs, but was up 0.8% quarter-on-quarter, in line with expectations. Year-to-date saw gross profits increase by 13.8% to SAR 469.5 million.
Adjusted EBITDA growth rose 29.5% to SAR 210.2 million compared to Q3FY23, aligning SISCO with strategic goals. Quarter-on-quarter growth was 20.8%, with a year-to-date increase of 17.7% to SAR 543.8 million.
SISCO reports a strong recovery in the Red Sea Gateway Terminal from subdued Q3FY23 Port segment results due to the Red Sea situation. Port volume reached 828,868 TEUs in Q3FY24, returning to levels similar to Q4FY23.
Commenting on the results: Eng. Khalid Suleimani, Group CEO, SISCO said:
“I am pleased to report that SISCO has continued to demonstrate strong growth and operational performance in Q3FY24, with revenues improving by 23.8% compared to Q3FY23. Our Ports segment, which remains a key growth driver, saw a significant increase, leading to robust results despite the Red Sea challenges.
Net income remains strong, despite the one-off payment of SAR 25 million to Zakat. Another highlight of the quarter is the impressive recovery in the Red Sea Gateway Terminal, highlighting it’s resilience.
We are also excited to announce the Multi-Purpose Terminals (MPT) concession, which will allow us to expand operations across all non-containerised port facilities in the Red Sea Gateway Terminal. This strategic initiative positions SISCO to capture further growth opportunities domestically and internationally.
Looking ahead, we remain committed to executing our five-year strategy to double revenues by 2026 and continue delivering long-term value to our shareholders.”
View original content:https://www.prnewswire.co.uk/news-releases/sustainable-infrastructure-holding-company-sisco-q3fy24-revenue-excluding-accounting-construction-revenue-increases-by-23-8-to-341-8-million-302307352.html
DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
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Fintech PR
Healthcare leaders gather at House of Commons to discuss productivity-boosting tech with MyStaff app
LONDON, Nov. 15, 2024 /PRNewswire/ — Healthcare leaders from 16 NHS trusts gathered at the House of Commons this week to see how Mid and South Essex NHS Foundation Trust is using a groundbreaking new app that transforms staff access to information vital to their patients’ care.
The MyStaff app uses AI and automation to simplify the management of critical policies and procedures, reducing the time staff spend searching for information from almost 10 minutes to under 30 seconds. Over 12,000 of the Trust’s staff have signed up, and around 1,000 are using the app daily.
With £2bn pledged to help digitise the NHS and bring down waiting lists, such time-saving tech is high on healthcare’s agenda. Trust Chief Executive Matthew Hopkins introduced the session, which was hosted by David Burton-Sampson, MP for Southend West and Leigh, and saw technology strategists and users share their experiences of digitising vital healthcare operations.
Matthew said: “Our Trust is working to make the best use of digital technologies wherever this can help staff to provide the best possible care to our patients. MyStaff app is a versatile and easy-to-use tool that improves our governance processes and makes it easy for staff to access the vital clinical information they need when treating patients.”
The Trust developed MyStaff app with digital innovators Diligram, who have created a digital governance solution that helps ensure staff use the latest policies and guidance when delivering patient care. Document compliance rates have grown from 60% to 98%, whilst projections indicate the app could release 55,000 hours’ worth of staff capacity over 3 years, worth almost £4m in staff costs and giving staff more time on patient-facing care.
Diligram CEO Leslie Golding said: “We have worked closely with the Trust on developing groundbreaking technology that supports our healthcare heroes by simplifying access to essential information. We’re proud to be part of this brilliant example of positive digital change.”
Editor’s notes
- Contact: Rob Benson, 07815098560, [email protected]
- Further images, interviews, site visits available
About MyStaff app
The MyStaff app from digital transformation company Diligram is time-saving tech that offers a mobile-first digital corporate governance solution for healthcare providers.
Web: mystaffapp.io
About Mid and South Essex NHS Foundation Trust
MSE is one of the largest Trusts in the country, serving around 1.2million people. Our values are about delivering excellent, compassionate and respectful care.
Web: mse.nhs.uk
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