San Francisco-based distributed ledger technology company Chain has been acquired by Lightyear, an entity powered by the Stellar network in an undisclosed agreement. Announced last week, Lightyear will be re-named to Interstellar concurrent with the merger, a company release states. Chain, that builds enterprise-grade blockchain products backed by financial giants Visa, Nasdaq, and Citigroup...
Stellar, the creator of the lumens (XLM) -- often stylized as stellar -- cryptocurrency, is said to be engaged in talks to acquire blockchain startup Chain for $500 million. Citing anonymous sources familiar with the discussions, Fortune reports that Stellar will pay $500 million worth of XLM to acquire Chain, which had previously raised more than $43 million from a variety of financial...
The Bank of England (BoE), Britain's Central Bank, published a Proof-of-Concept (PoC) which analyzes the possibilities of allowing users to share data in a safe and secure network. The bank partnered with blockchain infrastructure provider, Chain, to examine the problem and work on the possible solutions. Fintech Proof-of-Concept While the PoC was not implemented practically, both companies tried...
A regulator at the Securities and Exchange Commission (SEC) rebuked a top union official for denigrating a bitcoin expert at a recent public meeting. This eyebrow-raising event occurred earlier this week, when SEC Commissioner Michael Piwowar scolded Damon Silvers, the AFL-CIO’s policy director, for his aggressive posture in a recent meeting of the SEC’s Investor Advisory Committee. “This...
Chain Inc., a provider of blockchain networks, has integrated a hardware security module from Thales, a provider of data protection solutions, to generate and secure keys used for blockchain transactions. Chain developed its chain key derivation algorithm using Thales CodeSafe technology which provides the capability to move sensitive applications within the protected perimeter of the FIPS 140-2...
Visa has rolled out VisaB2B, which uses blockchain technology developed in partnership with Chain Inc., challenging the SWIFT messaging network as the dominant method for moving large sums across borders. The article stated that amid dozens of blockchain experiments by banks and other players, VisaB2B is among the first commercial blockchain products to emerge. Some technology analysts have...
Adam Ludwin, CEO of Chain, a company that has developed blockchain protocols for Visa and Capital One, told Fortune Magazine that blockchain’s main purpose is to disrupt financial networks and not the non-financial areas that reports have cited as being disrupted. Ludwin said blockchain is a database for money, and he doesn’t know why people talk about its implications for home deeds, voting...
Adam Ludwin, chief executive officer at Chain, a San Francisco, Calif.-based startup that partners with businesses like Visa and Nasdaq to provide blockchain networks, explained how blockchains work and urged bankers to embrace the technology during a keynote address at the International Conference on Policy Challenges for the Financial Sector, held at the Federal Reserve in Washington, D.C...