New-Tech Europe Magazine | Sep 2019 | Digital Edition

Latest News

cybersecurity in an Israeli intelligence unit.

to criminal hackers or sponsored cyber-attacks. Based on these capabilities, GK8 developed a fully operational end-to-end encrypted system for managing and safeguarding digital assets beyond the reach of hackers. Lior Lamesh, co-founder and CEO of GK8, noted: “Shahar Shamai, GK8’s co-founder and CTO, and I, found security vulnerabilities in one of the most secured cold wallets in the market. After we saw how easy it was, we understood that hackers

GK8 is currently targeting financial institutions, custodians, exchanges and hedge funds which hold cryptocurrencies. GK8’s custodian technology is already operational and helps to securely manage digital assets for clients such as eToro, a global multi-asset trading and investment platform. GK8’s customers manage a total of more than $1 billion in digital assets.

Photo: GK8 co-founders – CEO Lior Lamesh (right) and CTO Shahar Shamai (left). Photo credit Osnat Krasnanski

Current custodian solutions used by financial institutions and state-owned enterprises do not meet institutional scale security standards. In addition to existing security protocols, digital assets based on blockchain technology need a higher security standard since signed transactions are irreversible. Unfortunately, the current blockchain wallet solutions, categorized into “cold wallets” and “hot wallets”, are subject to major cybersecurity vulnerabilities. Cryptocurrency thefts, scams, and fraud worldwide led to the stealing of approximately $4.26 billion in the first six months of 2019 alone. To meet this challenge, GK8 experts have developed proprietary cryptographic techniques that enable real-time blockchain transactions of digital assets without any need for an internet connection. These techniques provide a secure environment to sign blockchain transactions and execute automatic reconciliation confidently. The company’s techniques, protected by five registered patents, can bypass core assumptions related to cryptocurrency transfers and eliminate attack vectors to any asset transfer. These capabilities allowed GK8 to develop the world’s first and only secured cold wallet with hot wallet functionalities. As a result, digital asset transfers secured by GK8 become inaccessible

will invest millions to steal billions, and we decided to develop a secured end-to-end institutional tool for managing digital assets.” Lamesh concluded: “Today, GK8 has a full working solution which is already securing customers who manage around $1 billion for global clients, protected by 5 patents and enjoy the trust and backing of leading cyber-security opinion leaders, partners and investors. This is supplemented by our strong team of cyber- security experts and developers, whose ability to safeguard money is proven, and this has led global organizations to trust our ability to securely manage their digital assets.” “GK8 develops a high security custodian wallet solution, using an exciting and unique approach to cold wallet security,” commented Prof. Eran Tromer, Zcash founding scientist and member of GK8’s advisory board. “Inspired by high assurance critical infrastructure systems, it uses state-of-the-art cryptographic techniques to minimize the wallet’s attack surface and block the influence of a potential attacker on security-critical components.” Eliahu Assif, CISO at eToro, noted: “GK8 provides us with a solution for the entire spectrum of threats, which also includes state sponsored attacks, like the recent attacks we’ve seen on financial industries worldwide.”

Infineon Technologies AG has been again listed in the Dow Jones Sustainability™ World Index. Thus it belongs to the top of the world’s most sustainable companies. Out of 47 companies assessed in the semiconductor sector Infineon is part of the six companies included in the World index. This was announced by the Sustainability Investing specialist RobecoSAM. “It fills us with pride that Infineon has been listed in the Dow Jones Sustainability Index for the tenth time in a row and belongs to the most sustainable companies in the world”, says Dr. Sven Schneider, Chief Financial Officer of Infineon. “To be successful in the long run, business excellence has to go hand in hand with strong environmental and social performance. With its innovative solutions Infineon helps to make more out of less and thus actively contributes to address global challenges like climate change.”, Formula E in Infineon among the top sustainable companies in the world

New-Tech Magazine Europe l 11