Also, Golden Equator Wealth launches NextGen program, and Google to let users opt out from being online-targeted

Binance hacked, reported losses reaches US$41M [e27]

On its official site, the global crypto exchange Binance has confirmed that there’s been a security breach compromising Binance’s crypto trading. The hackers, the company said, stole 7000 bitcoin in this transaction, translates for US$41 million worth of bitcoins.

The company said that the hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info. The hackers are said to use a variety of techniques, including phishing, viruses, and other attacks.

Binance said that the above withdrawal is the only affected transaction and impacted a hot wallet (which contained about 2 per cent of Binance’s total BTC holdings), while all of its other wallets are secure and unharmed. Hot wallet is a term that refers to a digital wallet that is connected to the internet.

Binance will use the #SAFU fund, an emergency insurance program, to cover this incident in full, and ensures that no user funds will be affected. Binance estimated that the investigation will take about one week.

Singapore’s multi-family office Golden Equator Wealth launches NextGen Programme [Press Release]

Singapore-based multi-family office, Golden Equator Wealth launched its NextGen Programme as well as its Family Office publication. The program aims to open ways for next-generation members of business families into future leaders through a customised curriculum across finance, wealth management, entrepreneurship, and leadership development.

Also Read: Indonesian sharia-compliant fintech ALAMI raises funding from tryb Group

The program was launched on Monday, May 6, 2019, is said to provide each candidate with learning roadmap is crafted to overcome the unique personal and business challenges as they assume their roles as custodians of the family wealth and family enterprises.

“In the next decade, there will be an enormous amount of wealth and businesses changing hands to the next generation. The business and wealth management landscape has been and continues to be impacted by technology. So, the next generation of enterprise leaders would require new and additional skill sets, network, and traits to manage both business and wealth. We hope to revolutionise wealth preservation to help families build a sustainable legacy that lasts for many generations,” said Shirley Crystal Chua, Founder and Group CEO of Golden Equator Group.

The first participant of the program is a NextGen member of a family office managed by Golden Equator Wealth, whose family business lies in the property development sector. The Family Office publication was a project led by this NextGen member.

Alibaba’s Ant Financial invests US$10M in a blockchain privacy startup [The Coindesk]

QEDIT, a Tel Aviv-based blockchain privacy technology developer, announced that it has secured a US$10 million Series A round from investors including Ant Financial, the payments affiliate of Alibaba.

With the investment, Ant Financial will be incorporating QEDIT’s zero-knowledge proof (ZKP) tech into its blockchain projects. Other high-profile partnerships that have been applying QEDIT’s ZKPs include VMWare and RGAX, a subsidiary of Reinsurance Group of America.

QEDIT’s investment round was led by MizMaa Ventures, with participation from Ant Financial and RGAX as well as Meron Capital, Collider Ventures, Jovono and Target Global, which makes up a total of US$14 million in funding comprising the A round.

“The ZKP schemes our company builds are compatible with most varieties of enterprise blockchain, and this has led to the company gaining traction in Asia. We have been getting our product out to large providers in Asia and one of them is Ant Financial,” said Jonathan Rouach, CEO and co-founder of QEDIT.

Also Read: MYPINPAD and Clik aim to unify the digital point-of-sale industry

Zero knowledge schemes provide a way of proving possession of a secret without revealing the secret itself. QEDIT claims that it has demonstrated on the public ethereum blockchain how to prove an individual falls within a certain tax bracket without access to the fundamental data.

Google to let users opt out from being online-targeted [Bloomberg]

In its Google’s I/O Developer Conference, Google’s Alphabet Inc unit announced that it is tightening the rules for how websites track people who use its Chrome web browser. This would be the company’s effort to let users be in control over who watches their moves online.

Browsing platform Google Chrome is being tweaked so that developers will have to specify how far their online tracking software, or known as cookies, can reach. As a result, people can choose exactly which kinds of cookies can follow them and which ones can’t.

The change comes as regulators and consumers around the world are demanding more transparency on how their personal data are being used, and more privacy to shield themselves from online surveillance.

However, the shift could also send shockwaves through the advertising industry considering how Google has been relying on tracking what its users have been doing online to send them targeted ads.

Now, Google’s vision is that “websites should be able to identify, remember and track users, as long as those people know about it and can opt out if they want”.
Google also announced a tool being released soon that will help people learn why they were presented with a specific Google-run ad, and which advertising-tech companies provided information to aid the targeting.
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Diversity in any industry leads to better problem-solving

The world of cryptocurrency has changed the way we look at money. Only two decades ago it was hard to imagine that you could invest money in something that you cannot even hold in your hands. But recently, Bitcoin has created such a stir and has become such a debated topic that everyone wants to get a piece of it.

However, not everything is so sunny and optimistic in the world of crypto. Recently, more and more people started to talk about gender equality issues.

But how many People are associated with Bitcoin?

According to a Cambridge University study, there are up to 6 million active Bitcoin users. This data was collected over the year of 2017 but the number of active Bitcoin users is continuously growing. The study only covers active Bitcoin users and does not include those who are only Bitcoin holders.

Among all those active Bitcoin users and traders, only 8.5% are female, as opposed to 91.5% of male users. This number is what has triggered the problem of gender equality in this sphere. This makes us think: Is the crypto world a playground only for boys? Why do so few women invest in Bitcoin? And is Bitcoin’s gender divide a good sign? Let’s find out.

Why Women are Hesitant to invest in Bitcoin

The world of Bitcoin is thought to belong to the male part of society for different reasons. And the way the women are treated in the world of technology has been a serious issue for quite some time. Not only are women outnumbered in the technology-oriented industries, but they constantly face harassment and reportedly have to work harder to get the same acknowledgment as men.

Also read: How do we overcome the low representation of women in leadership roles?

So, even with all the gender equality movements and #MeToo trends that exist to attract attention to diminishing the importance of women and disrespecting their rights, women are still reluctant to participate in developing technologies, including participation in the cryptocurrency-related industries.

So women are hesitant to work on Bitcoin not because they lack knowledge. They are hesitant because of the high rate of sexism and gender discrimination cases in this sphere. They know that there’s a possibility that they might face:

• A hostile work environment;
• Unequal pay;
• Unequal promotion; and even
• Sexual harassment.

That is why many women in the world of crypto tend to conceal their identities. Earlier this year Quartz took some interviews with a few women working with cryptocurrencies. One of them, Elizabeth Stark, a co-founder of blockchain startup called Lightning Labs, said that women working in this field don’t want to speak about being female. This creates an impression that there’s a lack of female representatives in this sphere, which consequently drives away potential female investors.

Another reason is that investing in Bitcoin is quite risky. And, traditionally speaking, risky actions are a male prerogative. We all know that Bitcoin’s value rose almost overnight. And who knows, maybe it’s not here to stay for a very long time. “I know many women who are ready to invest in cryptocurrencies”, says Margaret Reid, a writer at The Word Point. “But it is inconsistency and high risks that usually drive them away.”

Is Gender Divide in the World of Bitcoin a Bad Sign?

Yes. Even though it’s believed that in the risky and unstable cryptocurrency game men are better players, the female potential is largely underestimated.

In the same set of interviews by Quartz that we mentioned earlier, women told their stories of being pushed away multiple times. Some women claimed that they were mistreated during crypto meet-ups by men who even had less experience working with cryptocurrencies. Others tell that they have been blatantly ignored by the male investors during meetings. And the climax to it all is that no one wants to fix the problem and give women a chance.

So even if women have a lower risk tolerance, it doesn’t mean that they lack the knowledge to work with cryptocurrencies like Bitcoin. But it all boils down to the problem of not letting women show their full potential in the tech world.

Can we fix the problem?

Despite the gloomy forecast, women are still optimistic about their opportunities in the Bitcoin world. Earlier this year, Berkeley held a Women in Blockchain conference, which focused on the problems of gender equality in the cryptocurrency world and other important issues. Blockchain Week in NYC also had a day with a program that featured only female speakers.

To fix the gender divide, the crypto world needs more female heroes to look up to, who will inspire women to enter this world and invest in cryptocurrency. Glamour did the whole article dedicated to women being the leaders in cryptocurrency projects, like Kathleen Breitman, CEO of Tezos, Connie Gallippi, CEO of BitGive and other women who decided to invest and work with Bitcoin and other cryptocurrencies.

Also read: Cryptocurrency may be sexist, but it is for women, too

The Bitcoin industry can benefit a lot from attracting more women to become a part of it:

• Women are better communicators;
• Female specialists can solve problems more efficiently as they are capable of analyzing a single problem from different perspectives;
• The Bitcoin industry needs more talent in general, so why not give women a chance they deserve?

Diversity in any industry leads to better problem-solving: Years of research show that a working environment based on diversity leads to a more innovative approach to work tasks and better problem-solving. If the Bitcoin industry lets more women in, it will get generate a flow of talent, innovative ideas, and insights this industry obviously needs.

And to sum up …

The success of the Bitcoin industry is in allowing diversity. As women have to face inequality due to various reasons, among which is unequal treatment and even a lack of venture capitalist support, which doesn’t allow women have their cryptocurrency business, female specialists need more support and appreciation. The fact that the problem of equality in the Bitcoin industry is raising awareness is already a good sign.

So hopefully, the spread of blockchain technology in the nearest future will help boost the participation of women in its development.

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e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Photo by Michael Prewett on Unsplash

The post To fix the gender divide, the crypto world needs more female heroes to look up to appeared first on e27.

A little brain exercise can help you attend Echelon Asia Summit 2019 this May 23-24

Echelon is just two weeks away! If you don’t want to miss out on all the fun, make sure to register here.

If you would like to meet awesome investors, hear from top-notch entrepreneurs and find the next great Southeast Asian startups, we have a challenge for you.

Make sure to follow the format e27-XXXXX when you enter your answer. Results are case sensitive.

Riddle me this

Question: If you have me, you want to share me. If you share me, you haven’t got me. What am I?

Answer: A __________

How do I answer?

Here are the steps to redeem the tickets (assuming you know the answer ) .

1. Visit the registration page.
2. Under the first bar towards the left, underneath the date, you should see a “promotional code” box.
3. Enter the answer
4. NOTE: The answer is one word and it must be entered in ALL CAPS. Also, follow the format e27-XXXX.
5. Limited Starter tickets will appear for free.
6. After that simply click the ‘Buy Ticket’ button and follow through the registration process.
7. Attend Echelon!!

Also Read: 38 fantastic investors that might be your next match at #Echelon2019

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Photo by Kristina Flour on Unsplash

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Medical facilities in Indonesia are not evenly distributed. HaloDoc wants to help tackle this challenge

Get insights from Jon Richards and more at Echelon Asia Summit 2019. Happening on May 23-24 at the Singapore Expo. Tickets are now available at US$10 each!

Healthtech is one of the most exciting sectors in Southeast Asian tech industry today. Hailing from Indonesia, HaloDoc is one of the companies in the region that is working to ensure better access to healthcare for all patients.

The Jakarta-based company had made several exciting milestones, having just announced a US$65 million funding round led by UOB Venture in March.

In addition to the funding round, the company had also seen a 25 times growth in patients helped to get treatment in 2018.

It has also secured over six million monthly active users using the HaloDoc platform to talk to doctors, search for healthcare information, book appointments, and purchase medications.

In an interview with e27, HaloDoc CFO Jon Richards explains that as a telemedicine platform, helping more people in Indonesia getting greater access to healthcare is one of the company’s greatest milestones.

Also Read: Go-Jek integrates Go-Med into HaloDoc app as the two companies strengthen collaboration

“Access to healthcare in Indonesia is, and has always been a challenge. When you live in a big city, the challenge is congestion: The problem of [how to] get there. [Big cities are] congested, hard to get around. If you live outside of the big cities there are just not enough doctors – that in itself is a different set of challenges. But now with HaloDoc, distance is less of a factor,” he says.

“We’re a tech company, we write codes, that’s what we are investing in, and that’s what we apply to healthcare sector,” he adds.

Richards also stressed that the problem in Indonesia’s healthcare sector is not that there are no good doctors. In fact, many healthcare facilities in the country are able to lure in patients from neighbouring countries such as Malaysia and Singapore.

The problem that Indonesia is facing is that the facilities are not evenly distributed.

Before the existence of telemedicine services, the ratio between general practitioners and specialists in islands outside of Java are 90:10. But telemedicine is able to improve the ratio to 60:40, enabling greater access to specialised medical care in the islands.

“We need to use our existing doctors more efficiently, and we can do that through technology,” Richards says.

Also Read: HaloDoc completes US$13M Series A to bolster Indonesia’s healthcare sector

At the moment, 20 per cent of HaloDoc users are based in Jakarta, 50 per cent in Java, and the rest in islands outside of Java.

What are the strategy that the company used to acquire these users? Apart from implementing traditional marketing practices, there is also an emphasis on patients and patients’ journey.

“What telemedicine represents is a new way for doctors to engage with patients, and vice versa. It requires some education, some awareness. People have to learn that this is a thing that they can do now, and that it is reliable,” Richards says.

The history of HaloDoc itself began when founder Jonathan Sudharta was working as a medical representative of a pharmaceutical company.

Through his work, Sudharta was able to know a great number of doctors, that people began to ask him to forward their medical questions to the doctors that he knew.

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Get insights from Jon Richards and more at Echelon Asia Summit 2019. Happening on May 23-24 at the Singapore Expo. Tickets are now available at US$10 each!

Images Credit: HaloDoc

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Innovation Cybersecurity Ecosystem at BLOCK71 or ICE71 has revealed the region’s cybersecurity startups joining its second ICE71 Accelerate Demo Day in Singapore

ICE71 or Innovation Cybersecurity Ecosystem at BLOCK71 that was born out of the partnership between Singtel Innov8, Singtel Group’s VC arm, and NUS Enterprise of the National University of Singapore (NUS), has shared the latest participants of its second batch, three-month long ICE71 Accelerate program. The participants are said to come from Singapore, India, Turkey, Vietnam, the UK, and the US.

ICE71 event peaked in Demo Day, where the participants pitched to an audience of over 150 investors and cybersecurity leaders, seeking investment, and business development opportunities.

“We believe that enterprises and governments need to work more closely with startups to address the frequency, scale, and sophistication of cyber threats globally. By bringing together these promising start-ups and connecting them with leading investors, enterprises and government agencies, we aim to accelerate their growth to the next stage as well as strengthens Singapore’s cybersecurity ecosystem to power Singapore’s Smart Nation goals,” said Edgar Hardless, CEO of Singtel Innov8, highlighting cybersecurity as one of the key pillars in the country’s Smart Nation goals.

ICE71 Accelerate’s first cohort was unveiled in October 2018, and from it, two startups have already raised additional funding and expanded their operations internationally.

“It is crucial for our people, businesses, and enterprises to be well protected in today’s digital environment. The key to supporting the nation’s ambitions lies in driving cybersecurity innovation and encouraging more enterprising cybersecurity entrepreneurs and startups to make Singapore their home,” said Professor Freddy Boey, Deputy President (Innovation and Enterprise) of NUS.

Also Read: MYPINPAD and Clik aim to unify the digital point-of-sale industry

Here are the ten cybersecurity startups in the second cohort:

• 689Cloud, which uses rights management technology to protect, track, and control access rights on externally shared digital documents, preventing data leaks and unauthorised redistribution of confidential data.
• Aversafe, provides a first-line-of-defense against credential fraud.
• Blue Phish, provides an online platform to drive cybersecurity awareness and play a part in reducing the number of cyber-attacks that are created due to human error.
• GuardRails. makes open-source security tools easily available in GitHub Pull Requests. The solution has been tuned to keep noise low and only report high-impact and relevant security issues.
• INFRA, builds automated solutions for assessment and intelligence without the need for security analysts, eliminating human error and maximising reliability.
• KEYLESS, provides a privacy-first platform for authentication and identity management driven by user-friendly, secure biometrics that makes data privacy and security the rule, not the exception.
• LOKI, provides cloud-based, single point management cybersecurity, and network management services for SMEs using SD-WAN technology in SaaS model.
• oneKIY, addresses data privacy and security, runs on a decentralised, user-controlled security system.
• PhishBase is a mail transfer agent, sitting between the organisation and the internet, analysing emails flowing in and out of the system; preventing data loss, quarantining messages and using fuzzy logic to detect bad emails.
• SECONIZE is an enterprise IT risk assessment product that identifies cyber risks and translates to continuous business impact.

ICE71, whom main mission is to foster cybersecurity innovation in Asia, is supported by the Cyber Security Agency of Singapore (CSA), the Info-communications Media Development Authority (IMDA) and corporate partners such as Cisco. ICE71 partners with CyLon, which delivers the ICE71 Accelerate programme and brings to the table its experience as the global cybersecurity accelerator and early stage investor in cybersecurity startups.

After Demo Day, ICE71 will continue to guide and support these startups through further fundraising, product development, and commercial expansion. It will also provide access to community events with ecosystem partners, thought leadership programmes, engagements with enterprises and government entities, and opportunities to present at regional cybersecurity conferences.

ICE71 Accelerate is now officially open to applications for their third cohort.
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