Rivetz Intl., a newly formed subsidiary of Rivetz Corp., has entered into an advisory agreement with Parity Technologies, a blockchain core technology company, to improve cyber security on the blockchain.
Under this agreement, Parity Technologies will provide guidance to Rivetz on the integration of cyber security controls into blockchain networks and smart contracts. The effort signifies the commitment of the companies to develop increased security standards within blockchain transactions, building a broader sense of confidence in blockchain networks and services.
"We look forward to working with Gavin Wood and his team at Parity Technologies to improve security and consumer confidence in blockchain technology," said Steven Sprague, founder of Rivetz. "Parity Technologies will ensure that Rivetz architecture can be efficiently and securely integrated with modern blockchain and smart contract technology."
Rivetz Corp. is focused on solving problems associated with consumer and machine-to-machine digital transactions. Its technology provides a safer and easier-to-use model for all users to protect their digital assets using hardware-based device identity.
According to the official release, Rivetz will provide p2p transactions with provable cyber controls that will be permanently recorded on the blockchain, providing cryptographic proof that measured protections were in place before a transaction can execute. Rivetz is built on TEE technology that has already been delivered on over one billion devices containing ARM-compatible processors.
"The Rivetz platform combines trusted computing with blockchain technology to offer provable cyber security controls for blockchain," said Dr. Gavin Wood, founder of Parity Technologies and lead developer of the acclaimed Parity Ethereum client. "Every exchange and wallet would benefit from the utility of a provable hardware-based multi-sig or multi-factor authentication and secure display of transaction details for transaction instructions."
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