The notion of a digital dollar for the United States has been increasingly in the news over the last month. Research into a potential Central Bank Digital Currency (CBDC) was called for by an executive order from President Biden in March, and it’s easy to see why: between efforts abroad from China to make moves in the space, to the increasing adoption rate of cryptocurrencies and other faster payments technologies, it’s clear to see that the technology has caught up to the vision, and implementation could offer significant advantages. However, not everyone thinks that a Federal Reserve-backed digital currency is
AXEL, the leading technology company optimizing data privacy and security through its enterprise software solutions, announces that its AXEL Go app, the secure cloud-based file sharing solution for legal professionals, is now available through Clio, the world's leading provider of legal technology. Starting today, Clio's 150,000 users can collect and share files of any size, all within the Clio platform using AXEL Go, the secure file sharing and transfer software.
AXEL Go's unique security features can provide stringent defense against cyberthreats, while also helping to maintain proper workflow management. With its newly launched metadata preservation feature, AXEL Go is a defensible, cost effective and easy-to-use option for legal professionals to collect evidence, while preserving crucial metadata and for smaller document collections, AXEL Go eliminates the need for costly forensic examiners.
“We're excited that Clio's legal professionals can now experience AXEL Go and benefit from this intuitive and secure software that addresses their most important cybersecurity issues,” says Ben Ow, President and CTO of AXEL. “According to the ABA TechReport 2021, 25% of respondents reported that their firms had experienced a data breach at some point. AXEL Go is an easily implemented solution to help legal professionals organize their digital workspace, as well as keep their clients and practices safe from security risks.”
Clio, the most connected legal technology, is transforming the legal experience for all through cloud-based and client-centered solutions that integrate with 200+ apps. Firms of all sizes and practice areas use Clio to manage firm operations, improve client experiences, streamline billing and payments, and automate legal documents—saving lawyers valuable time and resources.
“AXEL Go deeply aligns with Clio's values of delivering cloud-based and client-centered technology for legal professionals— securely and from anywhere,” says Jack Newton, CEO and Founder of Clio. “This integration furthers our dedication to helping app developers build new experiences, launch their app with impact and reach more customers. We're thrilled to work with the whole AXEL team to bring this exciting integration into the Clio app ecosystem.”
While designed to be user-friendly and easily implemented for individuals and businesses of all sizes to protect data privacy and security, AXEL Go offers significant value to the legal industry in particular, where unique ethical, legal and confidential considerations are a major part of their day-to-day business. Built with blockchain technology and military-grade encryption, the mobile, desktop and web applications include a digital safe for highly sensitive documents with no size limits when sending or sharing files.
When files are shared with AXEL Go's secure sharing, they are split into small “shards” and distributed to various servers closest to the recipient. This process, which uses the same encryption technology that government agencies and the military use to secure their most confidential files, has no file size limits, doesn't require the other party to have an AXEL Go account to receive files and greatly reduces the risk of a data breach when the files are in transit. Users can also access reporting to show when their shared files were viewed and downloaded. And with the “Secure Fetch” feature they can also proactively request files from others through a secure channel with just a simple link, and in turn, recipients of a Secure Fetch link don't need an AXEL Go account to send any number of files or volume of data back.
Clio is transforming the legal experience for all by creating the worldʼs leading cloud-based technologies for law firms—to keep lawyers and their clients better connected throughout the legal process. Firms of all sizes and practice areas use Clio products—Clio Manage, Clio Grow, and Lawyaw—to manage firm operations, streamline billing and payments, automate legal documents, and improve the client experience. Following its UA$250M Series D funding, led by TCV and JMI Equity, and its US$110M Series E investment, led by T. Rowe Price Associates, Inc. and OMERS Growth Equity, Clio has made history by becoming the first legal practice management unicorn in the world. Learn more at clio.com.
By FintechNews staff -We have seen dramatic growth in FinTech during the pandemic. As the banks shut down, people largely relied on virtual financial services. For example, in the United States, 59% of Americans use more fintech apps now than they did prior to the pandemic. With all these changes happening, we highlight 3 […]
Customers are migrating data warehouses to Amazon Redshift because it’s fast, scalable, and cost-effective. However, data warehouse migration projects can be complex and challenging. In this post, I help you understand the common drivers of data warehouse migration, migration strategies, and what tools and services are available to assist with your migration project. Let’s first […]
The Spring Statement isn’t generally a time for large budget measures but in these unusual times several were announced, largely aimed at consumers rather than businesses. The most important changes are: Fuel Duty Headline news is cutting fuel duty for petrol and diesel by 5p per litre across the whole of the UK. Overall, this […]
Federal Reserve Chairman Jerome Powell emphasized on Wednesday that technology transformation is here to stay in the financial sector and that new regulations will be required. Powell revealed some insight into how the United States would govern the market during a presentation at the Bank of International Settlements Innovation Summit on central bank digital currencies. The digital age was not taken into consideration when establishing our current regulatory structures, the Fed official said. “There will be revisions to current laws and regulations, as well as the creation of wholly new rules and structure, if central banks, stablecoins, and digital currencies are to be implemented,” he said during a roundtable discussion on CBDCs at the BISI Summit. Is There A Threat? Powell noted that emerging forms of digital money, like cryptocurrencies and stablecoins, pose threats to the US financial system and will necessitate the adoption of additional consumer protection measures. Powell reaffirmed his position that cryptocurrency should adhere to the “same activity, same regulation” premise. He proposed regulating stablecoin issuers, such as banks, in October 2021. “Stablecoins function similarly to money market funds. They’re similar to bank deposits… and it is reasonable for them to be controlled similarly, same activity, same regulation,” he concluded. Powell Says DeFi Can Improve Finance Sector Despite this, the Fed chairman acknowledged that distributed technology and DeFi have the potential to improve the payment system’s efficiency and foster a more competitive financial sector. This is an impressive recognition from the director of one of the country’s premier financial institutions. Other agencies and their personnel have embraced crypto and blockchain technology as well, albeit they all appear to advocate for some level of regulation. Crypto total market cap at $1.94 trillion on the daily chart | Source: TradingView.com Suggested Reading | Fiat – Not Crypto – Still The Top Choice For Financial Crimes, US Treasury Says Stablecoins are a type of cryptocurrency that are typically backed by the dollar or a commodity such as precious metal. CBDCs are digital representations of dollars or other fiat currencies that governments issue. The Fed is exdigital currencies but has not yet decided whether to issue them. In January, it published a study on stablecoins. Biden’s Executive Order US President Joe Biden signed an executive order earlier this month directing the Treasury Department and other federal agencies to conduct a study on the impact of cryptocurrency on economic stability and national security. Biden’s directive comes as many Democratic legislators, notably Massachusetts’ Elizabeth Warren, have expressed worry that cryptocurrency could be used to circumvent US sanctions against Russia. As part of the executive mandate, the Treasury is leading a report on a CBDC in consultation with the Departments of Justice, Commerce, and State, as well as the Office of Management and Budget, Homeland Security, and the Director of National Intelligence, to determine whether the US should pursue a digital dollar. Suggested Reading | Bitcoin Breaks Past The $40,000 Barrier Again – Can It Sustain The Momentum? Featured image from CryptoSlate, chart from TradingView.com
By FintechNews staff The Internet of Things (IoT) has grown exponentially in a very short period of time. Smart gadgets, although being relatively new, are omnipresent in business and consumer spheres, and they show no indications of slowing down. The use of data-driven and data-acquiring solutions, networks and devices are no longer a luxury but […]