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Tokenization : Future of Payment Security

Along with the many gains that come with going cashless today, financial digitisation also gives way to a massive influx of cyber crime. The upsurge in fraudulent transactions and security threats have posed a serious challenge to central banks and clearing houses. According to data breach statistics, 267,088 data records are lost or stolen every hour. Only 4% of the total breaches committed since 2013 were “secure breaches” where encryption was used which rendered the stolen data useless. The social media industry suffered the greatest impact, accounting for 56.18% of the total compromised records in 2018. Identity theft has been the most prevalent breach type since 2013, accounting for a

Patent Alert: IBM Awarded DLT Patent for Data Sharing and Validation

US Patent no 10,268,528 B2 was granted to IBM on April 23, 2019 that describes a method which uses distributed ledger technology (DLT) to verify information shared between multiple devices in real time. The method talks about collecting specific information from every device and sending it to the nearest computer node. The verified information is then stored in a distributed database and is used to update the entries in the blockchain. The devices connected between the proposed system would be able to share information with other mobile devices, while eliminating the need of any central authority. Connected objects can be sensed and / or controlled remotely across existing network infrastru

Patent Alert: PayPal Patent Can Protect PCs From Ransomware Attacks

Online payments company PayPal has been awarded US Patent No. 10262138B2 that describes a technique to combat ransomware attacks. The first method described in the patent suggests an alert system that triggers when a program is attempting to encrypt data where the user has full discretion whether to halt the program or not. The alternative method talks about duplicating the unaffected original file and saving it at a remote server before it gets encrypted. #paypal #technology #patents #fintech #emergingtech #electronics

Working Towards a Greener Future - HyperSolar's Environment Friendly Hydrogen Generator

"The nation that leads in renewable energy will be the nation that leads the world" - James Cameron Our demand for energy keeps escalating. The energy sources we depend on currently for heating our homes and fueling our vehicles are choking up the environment by releasing harmful carbon dioxide into it. It’s the need of the hour that we reduce our dependence on the dirty fossil fuels of the past and shift to alternate sources of energy, the development of which will assist in the protection of the environment. HyperSolar inc. a company headquartered in Santa Barbara, California has been granted patent no CN107075695B, entitled “The artificial photosynthetic battery of more knots of with rais

Patent Alert: Sony's Prescription VR Glasses

US20190101980A1 was published by Sony that describes a head mounted display and prescription glasses to be worn with it. Instead of incorporating the eye tracking system in the HMD alone like their traditional headset, Sony decided to implement it in the prescription glasses as well. This could eliminate the image distortions created by the lens of the prescription glasses as seen before. The user information captured by the glasses is transmitted through a wireless signal to the HMD by the emitter. This signal is in the form of pulses of data that carry the gaze information to the HMD. Electro optical elements such as infrared LEDs are implemented in the glasses to illuminate the user's eye

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