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Duality Technologies Launches Platform for Analyzing Big Data While Keeping It Private

The platform is a step forward in practical uses for Homomorphic Encryption, letting multiple actors conduct analysis while keeping the data encrypted.




Encryption may not seem sexy, but it’s never been more important. 

Duality Technologies, a  provider of privacy-enhancing tech, (PETs), is launching SecurePlus Statistics, a privacy-enhanced “statistical analysis solution” that uses Homomorphic Encryption (HE).

While it may sound dry, it marks a step forward in practical uses of HE, which lets multiple actors conduct data analysis on a variety of datasets while keeping that information encrypted and protecting things like personally identifiable information. 

“HE is relevant for any industry dealing with highly sensitive data, such as health care and the financial services industry, but other regulated industries such as telecom, insurance and academic research that involves personal data, can also benefit from HE applications,” said Dr. Alon Kaufman, CEO and co-founder of Duality, in an email. 

“In financial services industries, HE can facilitate privacy-enhanced, collaborative financial crime investigations across firms and legislations, by enabling institutions to share information and insights while complying with privacy regulation.”

What is homomorphic encryption?

HE lets math calculations be done on data in its encrypted form. The result of the calculations is also encrypted, but when the result is decrypted it is identical to the result had the data not been encrypted in the first place. 

So if data is sent to a commercial cloud, large-scale analysis can be done on it without putting sensitive information such as people’s medical or financial information at risk. 

In encryption, plaintext is converted to ciphertext, or its encrypted form. Ciphertext can be converted back to plaintext, but only by certain parties possessing a secret key that decrypts the information using that secret key. 

Read more: Community Behind Privacy-Focused Smart Contract Forges Ahead After Settlement

In traditional forms of encryption, data is only protected in storage and during communications. In the case of HE, which is named for homomorphisms in algebra (or the ability to mirror the operations on one algebraic structure with operations on another), analysis can be done without access to that secret key which would decrypt the information. 

When thinking of HE, said Kaufman, imagine placing the pieces of a jigsaw puzzle, representing your data, in a box. Then you lock that box using encryption and hand it to somebody else. This person is actually able to assemble the puzzle (run analytics on your data) without unlocking the box and seeing the pieces, because the box is still  encrypted. You then receive the box back and unlock it to see the assembled puzzle, or the encrypted results that you then decrypt. 

“In this way, Homomorphic Encryption enables computations, including advanced analytics and Machine Learning, on encrypted data, assuring data privacy throughout the analytics cycle,” said Kaufman in an email to CoinDesk. “Homomorphic Encryption allows multiple parties to collaborate on data without seeing each other’s data assets, thus generating valuable insights from them.”

Why homomorphic encryption matters now

In a world where privacy concerns are advancing, particularly amid the pandemic, and disparate privacy laws are resulting in countries revoking some form of data access to others, tools like HE could give companies a way to get data insights without creating the potential not just for non-compliance, but also for big data abuse that has driven concerns about Big Tech. 

Earlier this year researchers showed how HE can enable analysis on genomic data in such a way that it preserves data privacy. Such analysis can help us understand complex or novel diseases, such as COVID-19. 

Duality piloted SecurePlus Statistics at the Tel Aviv Sourasky Medical Center in Israel where it was used to analyze data regarding the prevention, diagnosis and treatment of cancer studies while protecting personal health information. 

Read more: EU Privacy Shield Ruling Is an Opportunity and Conundrum for Decentralized Tech

Numerous proposals have also been written for how HE could benefit blockchain-based projects. One paper, published in 2019, proposed using HE to protect sensitive data generated from the ever-expanding internet of things (IoT). 

“Previous blockchain-based IoT systems have issues related to privacy leakage of sensitive information to the servers as the servers can access the plaintext data from the IoT devices,” reads the abstract. “So, we present the potential of integration of blockchain based-IoT with homomorphic encryption that can secure the IoT data with high privacy in a decentralized mode.”

Another proposal, published earlier this year, experimented with applying blockchain technology in edge computing to improve edge computing’s performance of secure storage and computation. The researchers introduced HE  as a way to ensure the “noncorrelation, anonymity and supervision of identity privacy in blockchain systems,” and found promising results they said would lay the groundwork for future research. 

“Privacy-preserving data collaboration – even among competitors – is also important in solving other global challenges, such as fighting different types of cyber and financial crimes that are committed by increasingly sophisticated global networks,” said Kaufman. 




Marathon invests $150 million in Bitcoin




Bitcoin mining firm Marathon has purchased 4,812.66 BTC for a total of $150 million, according to a press release shared with Coin Rivet.

The Nasdaq-listed company executed the trade in collaboration with financial services provider NYDIG.

“By purchasing $150 million worth of Bitcoin, we have accelerated the process of building Marathon into what we believe to be the de facto investment choice for individuals and institutions who are seeking exposure to this new asset class.

“We also believe that holding part of our Treasury reserves in Bitcoin will be a better long-term strategy than holding US Dollars, similar to other forward-thinking companies like MicroStrategy,” said Merrick Okamoto, Marathon’s chairman & CEO.

Okamoto goes on to state that Marathon is contracted to purchase 103,060 miners that will be fully operational by the end of the first quarter of 2022.

Robby Gutmann, co-founder and CEO of NYDIG, added: “We deeply admire Marathon’s commitment to the Bitcoin ecosystem, and we are very pleased to add them to the list of companies who utilise NYDIG as the institutional choice for Corporate Treasury Solutions.

“NYDIG is uniquely positioned to help corporations navigate the challenges they face around executing and structuring the holding of large Bitcoin positions, and our ability to deliver Marathon a tailored and custom solution, with a quick turnaround, and no market impact, is why corporations and insurance companies choose NYDIG.”

Marathon is the latest in a long list of companies to put respective balance sheets into Bitcoin, with MicroStrategy holding more than $1 billion while Square purchased $50 million late last year.

For more news, guides and cryptocurrency analysis, click here.


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PayPal allows Bitcoin and cryptocurrency transactions




Just a few years ago, Paypal used to categorically oppose Bitcoin as a payment method. For those who used to buy Bitcoin during the prior bull run, in 2017, you might remember the large interest of Paypal users in finding ways to obtain cryptocurrency. Paypal did not only take an opposing stance but they even closed accounts associated with cryptocurrency purchases.


Fast forward to 2020, and we are seeing an incredible development taking place – Paypal finally supports cryptocurrency transactions. While the new feature of the payment system is only a few weeks old, many people are not yet aware of the specifics. And that’s exactly why we wrote this article.


Over the next few paragraphs we will break down the new offer of Paypal, and how it affects the industry as a whole. Let’s get started.

Paypal enables cryptocurrency storage

As of November 2020, users are now able to purchase Bitcoin, Ethereum, Litecoin and Bitcoin Cash directly through Paypal.


<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Now you can buy, hold and sell <a href=”;ref_src=twsrc%5Etfw”>#Crypto</a> with PayPal. Start with as little as $1 in the PayPal app today. Terms apply. <a href=””></a> <a href=””></a></p>&mdash; PayPal (@PayPal) <a href=””>November 23, 2020</a></blockquote> <script async src=”” charset=”utf-8″></script>


The offer initially rolled out for users who reside in the United States, and was later enabled to more than 380 active Paypal users around the globe.


Here’s how the process works:

  • Users can select to either buy or sell the cryptocurrency they want from the dashboard of Paypal.
  • After making a purchase, the coins remain in their account and cannot be transferred elsewhere. Paypal thus offers “paper crypto”, also known as a representation of cryptocurrency backed by the real asset.
  • Due to being unable to transfer the funds. Users are eventually prompted to sell their coins back to the platform.
  • While this limits the use of cryptocurrency obtained through the platform there is some great news as well. Until 2021, users do not need to pay any fees when buying or selling coins through the platform.


So is this a good thing for the growth of the industry?

Many claims that the somewhat “centralized” approach that Paypal adopts when it comes to cryptocurrency transactions gives the wrong message towards the public. Several authoritative cryptocurrency investors believe that new users should be able to use their coins as they please, and not be forced to hold onto them within the platform of Paypal.


However, there are some very good news for the industry as well. These are the developments you need to keep in mind as we are entering 2021 with a nearly fully recovered Bitcoin:

1.   Paypal now buys ±70% of all new BTC

Since their recent announcement, more than 20% of Paypal’s users have already bought some form of cryptocurrency. To support this extremely large user demand, Paypal is now forced to purchase nearly 70% of the daily minted supply, which equals roughly to 630 BTC. This move sharply increases the difficulty of obtaining new Bitcoin, which in turn increases its scarcity and price.

2.   Paypal improves accessibility to crypto

New technologies always take time to develop, especially when the majority of people are not very accustomed to decentralized technology. Paypal’s decision to support cryptocurrencies massively expedites this process, making the UX/UI issues disappear. Every Paypal user has now full access to cryptocurrency and can purchase however much they like.

3.   Cryptocurrency will soon be used when paying all Paypal-supported merchants

Starting from early 2021, Paypal users will be able to use their cryptocurrency to make payments to all 26 million merchants that support the payment system on a global scale. This brings cryptocurrency one step closer to being adopted as a fully capable and globally adopted payment system.

Wrapping up

Paypal’s move towards cryptocurrency support and mainstream adoption makes perfect sense when looking at the recent economic and geopolitical developments. With Bitcoin making a full recovery over the past two years, there is now concrete proof that cryptocurrency is here to stay. Those who welcome new technologies will be the ones that benefit most from it, and Paypal seems to have a low time-preference when it comes to their enhanced business model.

For now, we will need to patiently wait until more payment systems and institutions decide to join the BTC revolution. Who knows what the future may hold? We may soon see Bitcoin climbing to new highs, satisfying even the most demanding Paypal users.



Cryptocurrency Journalist

Santa is a Latvia-based cryptocurrency journalist with a passion for covering the latest happenings in the cryptocurrency and tech world. In addition to being the analytics specialist of Paybis, Santa is also into consulting, reading,




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Bitcoin: Has the bull market faded?

2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, wi

The post Bitcoin: Has the bull market faded? appeared first on AMBCrypto.




2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, with Bitcoin retracing all way from around $41k to where it stood at press time ($32,600).

However, does the reversal signal the end of the bull run or the start of a wider scale correction akin to what happened in January 2018? Or, as most traders would have it, is Bitcoin’s price finally stabilizing above its previous ATH and maintaining much of the gains it raked up since December 2020?

Source: Santiment

Interestingly, Bitcoin’s social volume metric can help elaborate on what happened, with the world’s largest cryptocurrency enduring a price correction amounting to close to 10 percent.

Santiment’s data showed that as Bitcoin fell to $31.1k, its social volume – a metric that helps traders determine the market sentiment and where the price will head in the short-term – increased and registered a 6-day high. Given the increased demand for Bitcoin over the past few months, from both retail and institutions, it wasn’t much of a surprise that many saw the dip in price as an interesting buying opportunity.

Source: Santiment

On the other hand, there have been certain caveats to Bitcoin’s positive sentiment. What was noticed according to the data provider was that there was a sudden surge in negative commentary around Bitcoin. While a major share of the market seemed to have its faith in Bitcoin unshaken, Santiment’s data also hinted at the fact that a bigger price correction cannot be overlooked for the king coin. While it is unlikely that a drop to its November 2020 valuation is going to happen, a further dip that takes Bitcoin’s price below $30k cannot be discounted.

However, there are still strong bullish signs that one needs to consider before coming to any substantial conclusions regarding Bitcoin’s fortunes in the coming weeks and months.

Hodlers have traditionally played a key role when it comes to Bitcoin maintaining its price and securing significant returns for its investors. According to Glassnode’s Liquid Supply Change charts for Bitcoin, the crypto’s price continues to be fairly secure, with the same revealing that a large-scale dip on the charts looked quite unlikely.

Source: Glassnode

According to the data provided, Bitcoin is seeing the largest depletion of liquidity in a few years, with a majority of the Bitcoin being moved from exchanges into non-exchange entities that are to be hodled for long periods of time. This is a very important aspect of Bitcoin’s 2021 price action and can back up the argument that Bitcoin’s price is going to hold its ground without losing much to the bears in the coming weeks.

In the past month alone, a whopping 270,000 Bitcoins have moved to entities considered HODLers. With the backing of large accounts that continue to hodl, Bitcoin may see occasional dips and corrections, but the bullish market momentum is likely to remain and help stabilize the coin’s price.


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BTC Price Will Replace S&P 500: Michael Saylor

Michael Saylor, Bitcoin bull and MicroStrategy CEO, spoke on CNBC’s Power Lunch about the future of bitcoin. MicroStrategy just bought $10 million worth of the digital currency, and he was asked about the future of bitcoin. After BTC Replaces Gold As a ‘technically superior asset’, Michael Saylor noted, BTC is the ideal institutional safe haven … Continued

The post BTC Price Will Replace S&P 500: Michael Saylor appeared first on BeInCrypto.




Michael Saylor sees bitcoin, the ideal institutional safe haven asset, replacing stock indices.

Michael Saylor, Bitcoin bull and MicroStrategy CEO, spoke on CNBC’s Power Lunch about the future of bitcoin. MicroStrategy just bought $10 million worth of the digital currency, and he was asked about the future of bitcoin.

After BTC Replaces Gold

As a ‘technically superior asset’, Michael Saylor noted, BTC is the ideal institutional safe haven asset. He sees it as replacing gold.

Besides Saylor, Deutsche Bank, JPMorgan, Blackrock, and others see BTC as affecting the gold price or replacing gold as an asset. However, Saylor took his prognosis a step further and said that BTC could replace stock indices such as the S&P 500 or the Dow. Cash-rich corporations are “saying that cash is a liability; they have to find an asset that’s going to appreciate faster than the rate of monetary expansion.”

After that occurs, bitcoin will find itself even further integrated into the business world. It will become the monetary index that replaces stock and bond indices such as the S&P 500 and the Dow. “People that want a safe haven store of value…for the next 10 to 30 years are going to be attracted to a digital asset that has no inflation in it.”

People that want a safe haven store of value…for the next 10 to 30 years are going to be attracted to a digital asset that has no inflation in it.

70,784 BTC, +/-

Saylor’s CNBC interview came as MicroStrategy announced that it had bought another 10,000. This takes the company’s total bitcoin holdings in its reserves to about 70,784 BTC. MicroStrategy bought this latest round of 314 bitcoin at an average of $31,808 per coin. 

An IT company with a twist

MicroStrategy is still a business intelligence and professional services company. However, Saylor and his team use bitcoin as a store of value for an increasing portion of the corporation’s treasury. As CNBC notes, this results in the company’s stock price tracking bitcoin’s. “It’s almost become a stock market proxy for crypto,” said host Morgan L Brennan.

When Brennan asked Saylor about this, he noted that because companies want to convert the liability of cash into an asset, they will do one of two things. Many will do what MicroStrategy has done. They will directly purchase bitcoin. Others will go the route of Square and Paypal, and will build bitcoin into their product offerings.

Moreover, Saylor noted that the company’s employees are “pretty delighted” with the company’s moves, as they are “pioneers” in terms of utilizing this technology.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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James Hydzik is a finance and technology writer and editor based in Kyiv, Ukraine. He is especially interested in the development of regulation in the face of increasingly rapid technological change. He previously covered the CEE region for Financial Times banking and FDI magazines. An ardent believer in gut renovating eastern Europe one flat at a time, he currently holds more home renovation gear than crypto.

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