Eighteen years after the Florida hanging chads debacle cast the legitimacy of an American president into doubt, the voting technology introduced to fix those problems remains so vulnerable to hacking that the National Academy of Sciences, Engineering, and Medicine in September urged a return to paper ballots and an end to Internet voting. That’s a problem blockchain developers think they can fix.
Financial institutions fighting money laundering warm to blockchain technology
Enterprise blockchain software firm R3 recently completed a proof of concept test of its Know Your Customer (KYC) application built on its Corda blockchain platform, French financial institution RCI Bank and Services announced on Dec. 3. KYC requirements are part of the due diligence needed to meet Anti-Money Laundering (AML) regulations, an important but time- and money-consuming process used in the financial industry. Twenty-six firms participated in the test of CordaKYC, including insurer Allianz France and banks BNP Paribas and Societe Generale. In June, R3 announced that a group of 39 firms in 19 countries, including Deutsche Bank, ABN AMRO, and the Federal Reserve Bank of Boston completed KYC transactions…
