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Kadena Announces Nitin Gaur as Advisor

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    New York, New York, June 27th, 2024, Chainwire

     

    Kadena, the industry’s only scalable Proof of Work blockchain, welcomes Nitin Gaur, the Founder of IBM Blockchain Lab and a former Global Head of Digital Assets at State Street, as an advisor. Gaur, a distinguished leader in blockchain with a robust patent portfolio, brings a wealth of knowledge and expertise to guide Kadena’s strategic direction for implementing a decentralized approach to traditional finance.

    Stuart Popejoy, CEO and Co-Founder of Kadena, expressed his excitement about the new addition to Kadena’s advisory team: “We are thrilled to welcome Nitin Gaur to Kadena as an advisor, joining blockchain inventor Dr. Stuart Haber, among others. His deep understanding of blockchain technology and his institutional background will be instrumental as we continue to push the boundaries of what is possible with our platform.”

    Gaur shared in the excitement to join Kadena. “Kadena has a bright future with a world-class team of executives and advisors. I’m excited to bring my experience in blockchain-powered business networks, especially in financial services, to add to a strong foundation.”

    Nitin’s contributions to the field extend beyond his work at IBM and State Street. He is a sought-after speaker at various global events, advised on digital currency initiatives at Stanford University, and holds 100-plus patents.

    For more information about Kadena and its initiatives, users can visit www.kadena.io.

    About Nitin Gaur

    Nitin Gaur is currently the Founder and CEO of LedgerLink, an AI-driven Web2.5 Platform. The goal of LedgerLink is leading Digital Asset and Technology Design, with aspirations to transition part of the company’s financial market infrastructure and its clients to the new digital economy. In this role, Nitin aims to dedicate energy to bridging traditional finance and emerging decentralized finance with concepts around enterprise-grade digital asset custody, risk model frameworks, tokenization of traditional assets, and fund structures, to transform and modernize the market infrastructure with a vast partner ecosystem. Nitin Gaur also serves as the CTO and Co-Founder at Portal Asset Management, an acclaimed crypto hedge fund. He is also the co-host of the “Beyond Bitcoin” podcast, which offers deep insights into the evolution and adoption of digital assets across industries.

    In his previous role, Nitin Gaur, served as Managing Director at State Street, Founder and Director of IBM Digital Asset Labs – committed to devising industry standards, use cases and working towards making blockchain for enterprise a reality. In parallel Nitin also served as CTO of IBM World Wire – a cross-border payment solution utilizing digital assets. Nitin also Founded IBM Blockchain Labs and led the effort to establish blockchain practices for the enterprise. Prior to this role, he was working in the capacity of CTO, IBM Mobile Payments, and Enterprise Mobile Solutions. Nitin holds an MS in Management Information Systems and an MBA in Finance from the University of Maryland. Nitin was also appointed as an IBM Distinguished Engineer and was recognized as a Master Inventor with a rich patent portfolio.

    About Kadena 

    Kadena, a blockchain technology company founded in 2017 by Stuart Popejoy and Will Martino, who created JP Morgan’s first blockchain and led the SEC’s Crypto Committee, stands as the industry’s only scalable layer-1 Proof of Work (PoW) blockchain. This unique scalability enables Kadena to deliver infrastructure-grade performance for any blockchain project. Along with their smart contract language Pact, Kadena’s platform provides the world with the tools and environment to turn ideas and ambitions into reality, paving the way for true blockchain mass adoption.

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    Deepfake Fraud Doubles Down: 49% of Businesses Now Hit by Audio and Video Scams, Regula’s Survey Reveals

    2024-09-30T11:00:00Z

    RESTON, Va., Sept. 30, 2024 (GLOBE NEWSWIRE) -- In 2024, every second business globally reported incidents of deepfake fraud, revealing a growing trend in AI-related crimes over the past two years. Meanwhile, fraud involving fake or modified documents now outpaces AI-generated scams. These are the first findings from a new survey* “The Deepfake Trends 2024” commissioned by Regula, a global developer of forensic devices and identity verification solutions.

    Regula’s survey data shows a significant rise in the prevalence of video deepfakes, with a 20% increase in companies reporting incidents compared to 2022**. While 29% of fraud decision-makers across Australia, France, Germany, Mexico, Turkey, UAE, UK, and the USA reported encountering video deepfake fraud in 2022, this year’s data — covering the USA, UAE, Mexico, Singapore, and Germany — shows this figure has surged to 49%. This sharp increase across the revised cohort underscores the growing challenge of video deepfakes and their continued threat to businesses.
    Audio deepfakes are also on the rise, with a 12% increase compared to 2022 survey data.

    Identity fraud tactics

    Capture: The 12% rise in audio deepfake incidents and the 20% rise in video deepfake incidents from 2022 to 2024 highlight the need for enhanced detection and prevention measures.

    The survey also reveals industrial and regional differences regarding companies’ experience with deepfake threats. For example, audio deepfakes prevail over video ones among the three of the surveyed sectors, including Financial Services (51%), Aviation (52%), and Crypto (55%). At the same time, Law Enforcement (56%), Technology (57%) and FinTech (57%) are reporting more face video scams.

    The UAE and Singapore show higher susceptibility to deepfake fraud, with 56% of businesses in the UAE experiencing video deepfakes and 56% of businesses in Singapore encountering audio deepfakes. This is above the global average. In contrast, Mexico reported the lowest impact, with only 35% and 38% of businesses encountering video and audio deepfakes, respectively.

    Old threats still persist

    While video deepfakes are seeing the biggest jump over the two-year period (+20%), all other identity-related fraud has also grown, and some of its forms are more common than AI-generated scams.

    As Regula’s survey shows, 58% of businesses globally have experienced identity fraud in the form of fake or modified documents. This happens to be the top identity fraud method for Mexico (70%), the UAE (66%), the US (59%), and Germany (59%). This implies that not only do businesses have to adapt their verification methods to deal with new threats, but they also are forced to combat old threats that continue to pose a significant challenge.

    Interestingly, in a country more exposed to deepfakes, Singapore, this “traditional” threat is much lower than in the world at large: only 43% of businesses there reported having dealt with fake or tampered IDs.

    “Our latest survey demonstrates that AI-generated identity fraud has become an everyday reality. The surge in deepfake incidents over the two-year period of our survey leaves businesses no choice but to adapt and rethink their current verification practices. Deepfakes are becoming increasingly sophisticated, and traditional methods are no longer enough. What we think may work well is the liveness-centric approach, a robust procedure that involves checking the physical characteristics of both individuals and their documents; in other words, verifying biometrics and ID hardcopies in real-time interactions. This is what we adhere to in our R&D and what we recommend that our customers do to protect themselves,” says Ihar Kliashchou, Chief Technology Officer at Regula.

    Stay tuned for further insights as we continue to analyze and release more data on deepfake fraud. We’ll provide key updates to keep you informed and prepared for emerging threats.

    Additional resources:

    *The research was initiated by Regula and conducted by Sapio Research in August 2024 using an online survey of 575 business decision-makers across the Financial Services (including Traditional Banking and FinTech), Crypto, Technology, Telecommunications, Aviation, Healthcare, and Law Enforcement sectors. The respondent geography included Germany, Mexico, the UAE, the US, and Singapore.

    **After aligning the 2024 survey data with the 2022 cohort for a direct comparison, it reveals that 49% of companies experienced both audio and video deepfakes, up from 37% and 29%, respectively, in 2022. However, the unadjusted 2024 survey — which includes a larger sample size and new regions such as Singapore, in place of countries like Australia and Turkey — indicates that 50% of companies were affected by both types of deepfakes.

    About Regula

    Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the most comprehensive library of document templates in the world, we create breakthrough technologies for document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security, or speed. Regula has been repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification.

    Learn more at www.regulaforensics.com.

    Contact:
    Kristina – [email protected]

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59658107-89ca-4806-956c-853e8dfaad3e


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