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SA collaboration wins global blockchain award

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TheBlockchain category in the Banker Technology Project of the Year 2017 Award has gone to a local collaboration by major South African banks and financial services players.

The South African Financial Blockchain Consortium (SAFBC) was recognised by the Banker, a global publication which recognises performance and achievements in the banking and financial services industry.

BankservAfrica, South Africa’s national payments system operator and financial markets infrastructure partner to the South African banking industry, welcomed the award.

“To meet the future payment needs of our community and our economy, businesses need to approach payment system modernisation empirically, inclusively, holistically but above all, collaboratively,” said BankservAfrica chief executive Chris Hamilton. “The South African Financial Blockchain Consortium came together with the aim to demonstrate the transformative potential of blockchain technology and redefine the South African financial system to improve transaction speeds and reduce costs, which will help address financial exclusion issues.

“Partnerships such as the SAFBC are engines in realising the benefits of collaboration to reclaim South Africa’s position as a global centre of excellence in national payments infrastructure. This award is a significant achievement for the industry.”

The SAFBC represents members from 24 banks, financial markets infrastructure providers and other institutions involved in the financial services industry – many of which have traditionally been fierce competitors. Crucially, it includes regulators, who attend in an observer capacity, to address any regulatory issues.

The SAFBC aims to demonstrate the transformative potential of blockchain technology. The consortium came together in 2016 with the intention of redefining the South African financial system based on a technology that has tremendous promise to improve transaction speeds and reduce costs, which will help address financial exclusion issues.

Members include ABSA, Alexander Forbes, BankservAfrica, Bowmans, Capitec, Curo Fund Services, Citadel Wealth Management, Finswitch, FirstRand, FNB, Ince, Investec, JSE, Nedbank, PASA, Rand Merchant Bank, Sanlam, Silica, Standard Bank, Standard Chartered, Strate, ZarX, FSB (observer), SARB(observer)

 

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AppDate: DStv taps Xbox, Hisense

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DStv Now for Xbox and Hisense

Usage of DStv Now, the online DStv service available free to DStv customers, is increasing rapidly with more than two million plays of live and Catch Up content per week. In addition to using DStv Now to watch TV on tablets and smartphones, an increasing number of DStv customers are also opting to use it as their primary method of getting DStv on additional TVs in the house. This is set to increase with the release of two new big-screen TV apps, one for Xbox gaming consoles (Xbox One, Xbox One S, Xbox One X) and another for Hisense smart TVs (2018 and newer models).

Expect to pay: A free download.

Platform: Any of the Xbox One range of gaming consoles and 2018 or later Hisense smart TVs.

Stockists: Visit the store linked to your Xbox console or HiSense smart TV.

Santam Safety Ideas

Start-up businesses that have a FinTech or InsurTech business venture brewing are called to enter the third annual Santam Safety Ideas competition. Safety solutions or InsurTech ventures that are ready for piloting could win up to  R150 000 worth of incubation support and R200 000 in seed funding. 

The Safety Ideas competition was launched two years ago in partnership with LaunchLab,  Stellenbosch University’s startup incubator that facilitates valuable connections for corporates and startups sourced from the startup ecosystem and partner universities in South Africa. The previous winners are Herman Bester and Anton Swanevelder, co-founders of MyLifeLine – a wearable panic device that won the competition last year; and Ntsako Mgiba and Ntandoyenkosi Shezi, co-founders of Jonga – a cost-effective security system for low income families, which won the competition in 2017.

Entries close on 28 February 2019. For more information on how to enter, visit: www.santam.co.za/safetyideas/

Click here to read about the FNB Snapchat lens, Spotify Free with data saver, and 00:37.

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Fortnite fixes hackers’ hole

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Epic Games has repaired a vulnerability that exposed Fortnite, the world’s most popular game of the moment, to hackers. The hole, which was left in Epic’s web infrastructure,  allowed hackers to target players with email that appeared to come from Epic Games, but would have led them to a phishing site, where their log-in details would have been stolen.

Researchers at cyber security solutions provider Check Point Software alerted Epic to vulnerabilities that could have affected any player of the hugely popular online battle game.

Fortnite has nearly 80 million players worldwide. The game is popular on all gaming platforms, including Android, iOS, PC via Microsoft Windows and consoles such as Xbox One and PlayStation 4.  In addition to casual players, Fortnite is used by professional gamers who stream their sessions online, and is popular with e-sports enthusiasts.

If exploited, the vulnerability would have given an attacker full access to a user’s account and their personal information as well as enabling them to purchase virtual in-game currency using the victim’s payment card details. The vulnerability would also have allowed for a massive invasion of privacy, as an attacker could listen to in-game chatter as well as surrounding sounds and conversations within the victim’s home or other location of play. 

While Fortnite players had previously been targeted by scams that deceived them into logging into fake websites that promised to generate Fortnite’s ‘V-Buck’ in-game currency, these new vulnerabilities could have been exploited without the player handing over any login details.

Click here to read how the Fortnite hack would have worked.

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