Fintech, Finance, Technology, Banking Highlights – 12 September 2018
French football team Paris Saint-Germain announces blockchain partnership with SOCIOS.com
Paris Saint-Germain announced a multi-year strategic partnership with blockchain platform Socios.com.
As “Official Branded Cryptocurrency Partner” of Paris Saint-Germain, Socios.com will work alongside the Club to develop Paris Saint-Germain’s blockchain strategy, to leverage the technology to enhance and evolve its fan engagement.
Paris Saint-Germain will be the first team to join the Socios.com platform. As part of the partnership, Socios.com will work alongside the club to develop the world’s first Fan Token Offering (FTO) for the Paris Saint-Germain fanbase.
The Paris Saint-Germain fan token will be listed on the Socios.com platform and will allow fans to engage with the Club through mobile voting and polling platforms. Token owners will also be granted access to exclusive fan rewards, content and experiences.
The partnership forms part of the club’s broader strategy to integrate blockchain technology, to enhance its relationship with fans and business operations.
Through Socios.com, transactions will be fully digital, secure, transparent and entirely connected to the real fan experience.
Marc Armstrong, Chief Partnership Officer of Paris Saint-Germain said, “Always at the forefront of digital innovation, Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide. This revolutionary technology will have an important impact on the Club’s overall business strategy and the way we engage with our fanbase. We are very pleased to welcome Socios.com in the Paris Saint-Germain family.”
Ravelin raises £8m for AI fraud protection
Ravelin, the London-based fraud and risk prediction company, announced an £8M Series B round led by BlackFin Capital Partners to expand its overseas business and extend its market reach.
Existing investors including Amadeus Capital Partners, Passion Capital, and Playfair Capital also participated in the round.
The funding underpins Ravelin’s expansion plans including a new office in the US. The company has also developed a product for Payment Service Providers. The fraud detection company will continue to invest in capabilities complementary to its core of chargeback protection, notably in account security and risk prediction.
Ravelin works directly with online merchants and their payment service providers to reduce losses to fraud and to improve acceptance rates of orders. Ravelin’s choice of machine learning techniques to do this has proven to be both highly effective and extremely cost efficient for its clients. In the last year leading businesses including eShopWorld, Just Eat, Kinguin, and Quiqup have joined its enterprise client portfolio and the company is now helping secure their transactions across 96 countries.
The company’s founders have firmly established Ravelin as a major player in the fraud detection landscape over the last four years. Chargebacks, account takeovers, organised fraud rings and terms of service abuse continues to be a multi-billion dollar problem for the online commerce industry.
Tieto forges blockchain partnership with R3
Tieto, a Nordic software and services company and R3, an enterprise blockchain software firm have partnered to accelerate the adoption of next generation decentralised business networks built on Corda, R3’s open source blockchain platform.
As an R3 partner Tieto will use Corda in various ecosystem projects within financial services, public sector, supply chain, and more.
Tieto, a leading Nordic software and services company and R3, an enterprise blockchain software firm have partnered to accelerate the adoption of next generation decentralised business networks built on Corda, R3’s open source blockchain platform. As an R3 partner Tieto will use Corda in various ecosystem projects within financial services, public sector, supply chain, and more.
Corda is a blockchain platform that removes costly friction in business transactions by enabling organisations to transact directly using smart contracts, while ensuring the highest levels of privacy and security. By partnering with R3, Tieto ensures that its customers are in the forefront in adopting this technology and can benefit from the disruptive new business opportunities that it provides.
Earlier during 2018, Tieto, in co-operation with its customers, created the world’s first decentralized business network that enables the full digital establishment of limited liability companies. This project combined for the first time two major blockchain platforms as a practical implementation. Corda’s process and contract-centric architecture formed the backbone of the network between the different actors, while Hyperledger Indy – the basis for the global Sovrin identity network – provided a decentralised identity platform for exchanging verifiable data.
