AlphaPoint Names New CEO, Plans for New Public Blockchain Network

Blockchain innovator AlphaPoint has announced plans to build a new public blockchain network that will enable users to digitize real-world assets and monetize them across new markets.  The network, dubbed the AlphaPoint Public Network (APN), will be the first public blockchain built based on Intel SGX technology. AlphaPoint will fund the project via a pre-functional token sale to accredited investors in early 2018.

AlphaPoint’s goal with the APN is to create a “confidential, high-performance public blockchain” that supports tokenization of real-world assets. The company differentiates its planned solution in three ways: (1) the ability to provide hardware-enforced confidentiality of asset data and smart contracts, (2) the ability to migrate tokenized assets across supported public and private blockchains, and (3) the use of JavaScript and TypeScript to simplify blockchain development.

The news marks the second time in as many months that AlphaPoint has put Intel’s Software Guard Extensions technology in the headlines. In October, AlphaPoint launched its trusted virtual machine, AlphaPoint TrustedVM, which is enabled by Intel SGX technology. “Our collaboration with AlphaPoint aims to deliver enterprise-ready blockchain solutions to the financial services community,” Intel’s Rick Echevarria said. “AlphaPoint is expanding blockchain use cases to include illiquid assets, art, collectibles, and real estate, and use of Intel SGX will help increase the security and privacy of those transactions.”

AlphaPoint also named a new Chief Executive Officer, Salil Donde. Donde previously served as EVP of Global Information Services at Nasdaq, where he was instrumental in launching numerous machine learning-based products, data products, indexes, and sponsored exchange-traded funds (ETFs). Donde was CEO and board member of Lewtan Technologies before moving to the Nasdaq in 2015. Previous to his tenure at Lewtan, he was CEO and board member of proptech firm Marshall & Swift/Boeckh (now a part of CoreLogic).

Founded in 2013 and headquartered in New York City, AlphaPoint demonstrated its AlphaPoint Distributed Ledger Platform (ADLP) at FinovateFall 2017. Last month Capital Trust Group and W Ventures (Hong Kong) choose AlphaPoint to provide the blockchain financial technology infrastructure for Trust City, a world exhibition and fintech hub in Thailand that is scheduled to be finished in 2020. In May, AlphaPoint unveiled its solution for initial coin offerings (ICOs), and in March, the company completed a blockchain trial with Scotiabank.

Finovate Alumni News

On Finovate.com

  • AlphaPoint Names New CEO, Plans for New Public Blockchain Network.
  • FI.SPAN Enables Banks to Maximize the Opportunity of Open Banking.

Around the web

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  • Symphony Software Foundation adds to its Open Developer Platform.
  • Turkiye Garanti Bank, Turkey’s second largest private bank, to deploy customer analytics technology from NICE.
  • Cardlytics taps Jed Murphy as new U.K. Head of Strategy and Innovation.
  • Avoka bolsters executive ranks with two new SVPs, Director of Sales.
  • Moxtra wins spot in Prudential PRU Fintegrate program.
  • Wealth management platform aixigo wins Banking IT-Innovation Award from Business Engineering Forum of the University of St. Gallen in Switzerland.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

AlphaPoint Teams with Intel to Launch Secure Smart Contracts Solution

One way to make a smart contract even smarter is to enhance document access and security. Digital currency exchange platform AlphaPoint has achieved that with today’s partnership with Intel. The two have teamed up to launch TrustedVM, a solution for secure smart contracts that enhances AlphaPoint’s Asset Digitization solution.

TrustedVM leverages Intel’s Software Guard Extensions (SGX) technology to enable smart contracts and any set or subset of blockchain data to remain confidential. The data is protected against access by intermediaries and network participants to boost the security of AlphaPoint’s Distributed Ledger Platform (ADLP).

“Our collaboration with AlphaPoint aims to deliver enterprise-ready blockchain solutions to the financial services community,” said Rick Echevarria, Vice President of Software and Services Group and General Manager of the Platforms Security Division at Intel. “AlphaPoint is expanding blockchain use cases to include illiquid assets; art, collectibles, and real estate, and [the] use of Intel SGX will help increase the security and privacy of those transactions.”

AlphaPoint’s President and COO Igor Telyatnikov noted that the company’s customers seek the benefits of the blockchain but don’t want the security and privacy issues that typically come with existing blockchain solutions. Since smart contracts execute inside TrustedVM, the hardware layer ensures that unpermissioned parties never have access to the data.

Founded in 2013, AlphaPoint powers digital asset networks and maintains the AlphaPoint Distributed Ledger Platform (ADLP), the platform on which the asset issuance and custody solution is based. The ADLP interoperates with more than 20 ledger technologies. Earlier this year, the company launched a crowdfunding capability on the ADLP, which enables users to host ICOs. The ICOs issue newly created digital assets on the exchange, which is hosted on AlphaPoint’s infrastructure.

At FinovateFall 2017, the company showcased the ADLP Reconciliation Platform, which combines blockchain-based asymmetric access controls and machine-enforced domain compliance for order management and other activities. The Reconciliation Platform reduces time and cost associated with manual, post-trade reconciliation processes. The company was recently selected by Capital Trust Group and W Ventures to create a blockchain infrastructure for Trust City. AlphaPoint is headquartered in New York, has raised $3 million, and has 30 employees.

Finovate Alumni News

On Finovate.com

  • AlphaPoint Teams with Intel to Launch Secure Smart Contracts Solution.

Around the web

  • Finextra: Sberbank joins Enterprise Ethereum Alliance.
  • Aerospike announces upcoming new version of its database — Aerospike 4.0 Enterprise Edition.
  • Checkpoint Systems wins Asia Business Achiever Awards.
  • Kony unveils its next generation digital banking platform and suite of applications.
  • FIS to provide cash management and payment solutions for Citi’s corporate treasury customers in new partnership.
  • iSignthis to integrate its Paydentity UBO Service with Web Shield’s InvestiGate platform.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

AlphaPoint Launches Solution for Initial Coin Offerings

With the price of Bitcoin rising past $2,000 this morning and India in the midst of a currency unrest, people are starting to pay attention to digital currencies. All of this makes for perfect timing for digital currency exchange platform AlphaPoint to introduce a solution enabling clients to launch, manage, trade, and maintain Initial Coin Offerings (ICOs).

Founded in 2013, AlphaPoint powers digital asset networks and maintains the AlphaPoint Distributed Ledger Platform (ADLP), the platform on which the asset issuance and custody solution is based. The ADLP, which interoperates with more than 20 ledger technologies, enables users to host crowdfunding events, such as ICOs. The ICOs issue newly created digital assets on the exchange, which is hosted on AlphaPoint’s infrastructure.

“This is an exciting time for technology to drastically change the way companies gain access to capital,” said Joe Ventura, Founder and CEO of AlphaPoint. “ICOs create a new source of funding to accelerate innovation, and we are proud to be building the technology platform to support those initiatives.”

Along with today’s announcement, AlphaPoint reported that it joined the Enterprise Ethereum Alliance, which tripled in size today with a slough of 85 others joining the initial batch of 30 members that piloted the alliance. The company also joined the Hyperledger consortium, an open source collaborative effort to advance cross-industry blockchain technologies.

At FinovateEurope 2015 Ventura, along with AlphaPoint’s VP of Sales, Scott Bambacigno, debuted version two of its digital currency exchange platform. Earlier this year, the company completed a successful blockchain trial with Scotiabank, which tested its internal system with a range of use cases for AlphaPoint’s Distributed Ledger Platform.

Finovate Alumni News

On Finovate.com

  • AlphaPoint Launches Solution for Initial Coin Offerings
  • Finovate Alums Prepare for Citi Tech for Integrity Challenge Finals

Around the web

  • Bellingham, Washington-based Whatcom Educational Credit Union (WECU) to deploy core processing technology from Fiserv.
  • Digital Wealth Insights reviews Moven Enterprise.
  • Ledger announces XRP support on Nano S and Blue.
  • IDology named one of 2017’s Best and Brightest Companies to Work For in Atlanta.
  • Bankless Times: Lighter Capital an alternative for tech startups.
  • Barefoot Innovation Group features Bill Harris, CEO of Personal Capital.
  • Check Point’s SandBlast Mobile receives Miercom’s Certified Secure Award.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinDEVr APIntelligence

FDNY17-Logo-RevFinDEVr New York will be here in just two short weeks! Check out company features and take a look at the previews from upcoming presentations. And of course, don’t forget to register today to save!

On FinDEVr.com

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  • Scotiabank and AlphaPoint Wrap Up Blockchain Trial
  • Check out these previews from upcoming FinDEVr New York presentations:

Alumni updates

  • BBVA Compass adds cash-back incentive to stimulate interest in mobile banking app.
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  • Bluefin Payment Systems joins forces with The Pinnacle Corporation, bringing point-to-point encryption (P2PE to the latter’s Palm POS platform.
  • Top 10 global bank deploys mobile capture technology from Kofax.
  • IBM forges strategic partnership with Salesforce, connecting AI platforms IBM Watson and Salesforce Einstein.
  • Arxan Application Protection named Best IoT product at the 2017 Cybersecurity Excellence Awards.
  • Kontomatik nominated at the Dutch FinTech Awards 2017.
  • Mambu goes live in the Americas with new offices in Miami and new regional managing director.
  • PayPal partners with Oro ecommerce platform.
  • UK food retailer, The Co-operative Group chooses ACI Worldwide to run wallet service.
  • Palestine’s The National Bank deploys core banking technology from Temenos.
  • Dallas News features Bruce Parker, founder and CEO of ModoPayments.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Scotiabank and AlphaPoint Wrap Up Blockchain Trial

Screen Shot 2017-02-27 at 10.30.02 AM

Blockchain technology infrastructure platform AlphaPoint has finished a successful trial with Scotiabank. The Toronto-based bank tested its internal system with a range of use cases for AlphaPoint’s Distributed Ledger Platform.

The AlphaPoint platform lets banks digitize financial instruments, creating trading venues for blockchain assets, while managing workflows integrated with the bank’s existing infrastructure. Scotiabank tested the platform for multiple months by submitting trade reports to the platform, which ran simultaneously on Microsoft’s Azure cloud and AlphaPoint hardware. The blockchain network converted FIXML messages into smart contracts in real time, establishing a single, permanent record across the network.

“Distributed ledger technology enables institutions to rethink how data flows within their organizations,” stated Joe Ventura, Founder & CEO of AlphaPoint. “Partnering with Scotiabank is an amazing experience – their team is leading the charge by proving out pragmatic, near-term implementations of this revolutionary technology.”

Bitcoin Magazine asked Igor Telyatnikov, president and COO of AlphaPoint, if there were plans to further develop this project. Telyatnikov responded that he could not comment on next steps, but, “he did however indicate that AlphaPoint is planning to reveal some additional news in the near future.”

Founded in 2013, AlphaPoint debuted its digital currency exchange platform at FinovateEurope 2015. Earlier this year, the company appointed former Deutsche Bank director, Scott Scalf, as Vice President. In October 2016, AlphaPoint unveiled StreamCore, a new solution to help banks manage and interact with blockchain data.

Finovate Alumni News

On Finovate.com

  • Lendio Brings the Franchising Model to Small Business Lending.
  • Excited to see Symphony Software Foundation at FinDEVr NY March 21 & 22. Check out our interview with Executive Director, Gabriele Columbro.
  • Scotiabank and AlphaPoint Wrap Up Blockchain Trial.

On FinDEVr.com

  • RSVP for FinDEVr’s International Debut.
  • PwC Brings Blockchain PoC to London’s Specialty Insurers.
  • Shwayhat Steps Up: Greenkey Technologies Announces New CEO.

Around the web

  • Vantiv to provide payment processing for Tyndall FCU ($1.3 billion in assets). See Vantiv at FinDEVr New York this month.
  • Scalable Capital recognized as only European startup on CNBC Upstart 25 roster.
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  • Trustly processes more than €3 billion in payments in 2016, announces UK expansion.
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  • Yandex Money brings bankers onboard.
  • D+H Mortgagebot named HW Tech100 winner.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Passport Raises $8 Million in Series B.
  • OurCrowd Wins Red Herring Awards; Announces Partnerships with Bayer, DuPont.

Around the web

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  • Major update to Xero’s online invoicing technology to help businesses avoid phishing scams.
  • TimeTrade brings its Banking by Appointment functionality to FIS’ mobile banking app.
  • Clover selects DAVO’s Sales Tax App as first app featured on its new blog.
  • ForwardLane and AlphaPoint selected to participate in Accenture’s Fintech Innovation Lab.
  • ENGIE to leverage Kony’s enterprise-mobility platform.
  • SafetyPay increases its volume of transactions paid in cash by 86% compared to last year.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.