SUSS Node for Inclusive FinTech (NiFT)

Node for Inclusive Fintech (NiFT) under Singapore University of Social Sciences provides more than 20 courses today ranging from traditional aspects of finances to technical trainings for the fast-growing fintech industry. NiFT's objective is to promote public awareness on fintech knowledge and literacy which helps students, professionals and SMEs to better embrace digital transformation. NiFT also serves to deliver quality research and risk assessments on blockchain technology, cryptocurrencies, ethics and governance of decentralised finance, Metaverse, Web3 and green finance. We aim to provide the most updated and relevant information to our students and the public. Visit our website to know more about NiFT https://sussblockchain.com! #fintech #blockchaintechnology #blockchain #research #education #metaverse #web3 David LEE Kuo Chuen 李国权 Swee-Won Lo Qinxu Ding Carmen Shih Zhiguo Wang, PhD, CFtP

If you talk to anyone in the Web3 industry, they will tell you that no applications in the business world will take off in the absence of security as the foundamental guarantee for sustainability and reputation. Attackers are opportunistic and this should be the reason to be vigilant instead of the other way round. This was a thought provoking closed door discussion. Prof David LEE Kuo Chuen 李国权 urged that we increase the cost of attack instead of focusing on a “perfect” defense mechanism. Jag Foo, CFtP, CPP, PSP, PCI cautioned that sooner or later, digital asset custodies will become the primary targets of attackers. It’s a wake up call and a very enlightening afternoon, without which we wouldn’t know that: - the impact of AI on security for individuals and enterprises is on an unimaginable scale that we should expect that the best and most experienced security practitioner will also fall for scams enabled by AI. - there are solutions from the industry players and the SPF to address security pain points faced by enterprises and individuals but they were not known by many. - there are pressing needs for enterprises to hire competent compliance officers, CEOs who can think and act like a scammer/hacker but there were no courses or programmes that produce such workforce, nor framework that can help the board in deciding how much resources to invest in cybersecurity and why. These are just a few of the much discussed issues on Friday. It’s heartening that while we left the table with many things that should be done, we are determined to get together again in a coordinated effort to build a strong security ecosystem in Singapore. We wouldn’t be able to do this without the support from Singapore University of Social Sciences (SUSS) and members of the SUSS NiFT Blockchain Security Alliance. Look forward to the next time we meet again!

AI is advancing rapidly, driving efficiency by streamlining processes and enhancing operations. However, this progress also introduces vulnerabilities, such as automated attacks, data exploitation, and AI-powered deepfake fraud. Instead of focusing solely on defending against these AI-induced vulnerabilities, it is perhaps timely to look into trust distribution technologies such as Multi-Party Computation to increase the cost of attacks, especially asymmetrically increasing inconvenience of the users, like what Web3 and the blockchain technology teach us. Yesterday, SUSS NiFT Blockchain Security Alliance and Safeheron held another round of closed-door discussion with stakeholders in Web3 (e.g. Banks, Exchanges, DeFi, Custody, Market Makers, Blockchain Security, Payments etc), academia and government. A gap that was identified during the discussion is that individual users must be equipped with the knowledge to not only protect themselves online, but also to know how to respond if they suspect or have already fallen victim to a phishing attack. At the same time, security industry players play a crucial role in making availability of various cybersecurity technologies known and helping enterprises, organisations, and startups balance their investments and resources between business operations and cybersecurity or compliance. Another critical gap identified during the discussion is the lack of professional qualifications in Web3 security. Educational institutions and chartered programs are crucial in developing a competent workforce for roles like the Chief Compliance Officer (CCO), Chief Executive Officer (CEO), and Chief Information Security Officer (CISO). There is a need to provide professional education and practical exposure to certify qualified workforce, not just through easy-to-pass commercial certifications. This conversation is just the beginning. Kudos to everyone who made the discussion insightful and engaging! Strengthening cybersecurity will require coordinated efforts from educational institutions, regulators, industry players, and enterprises to advance the knowledge, awareness, and curate policies that are relevant to individual users as well as organisations. Singapore University of Social Sciences (SUSS) Prof David LEE Kuo Chuen 李国权 Swee-Won Lo Yinghui YU Jag Foo, CFtP, CPP, PSP, PCI #Web3 #AI #Cybersecurity #DigitalEconomy #compliance #Web3regulatory #AIfraud

On August 21, 2024, HeLa Labs announced that they officially joined SUSS NiFT Blockchain Security Alliance. The SUSS NiFT Blockchain Security Alliance, jointly launched by Beosin and SUSS NiFT, consists of several units with diverse industry backgrounds, including university institutions, blockchain security companies, industry associations, fintech service providers, etc. The first batch of board members include Beosin, SUSS NiFT, NUS AIDF, BAS, FOMO Pay, Onchain Custodian, Semisand, Coinhako, ParityBit, and Huawei Cloud. HeLa Labs, a Modular Layer One Blockchain, co-developed with A*STAR’s Institute of High Performance Computing (IHPC) in Singapore. Overall, HeLa is a modular Layer 1 blockchain enabling AI infrastructure for Web2 and Web3 across various sectors, including gaming, DeFi, DePIN, and many more. INFO: https://helalabs.com/ The members of the Security Alliance will work together and cooperate to provide security value to the global blockchain ecosystem by leveraging their technical strengths. The Alliance also welcomes more members in blockchain-related fields to join and jointly defend the security of the blockchain ecosystem. As of today, there are 51 members at Blockchain Security Alliance.

Willie S. Jincheng Zheng Prof David LEE Kuo Chuen 李国权 Yue Wang 深入分析了加密货币对融资策略的变革性影响，重点探讨了从首次代币发行（ICO）到空投及其他方式的演变。他们探讨了代币的重要性，并阐述了ICO相较于传统融资方法如首次公开募股（IPO）和众筹的优势。此外，本文还对空投作为启动机制和项目发展工具的有效性进行了批判性评估，并提出了一套优化生态系统收益的空投设计机制 阅读文章: https://lnkd.in/gqUJnFvj Singapore University of Social Sciences (SUSS)

In the last ISC2024 conference, Prof. Zvi Wiener guided us through the history of money, and how with the introduction of technology, digital currency is gaining its traction. This has also lead to a complex financial systems we have today. Prof Zvi explained the key functions in the financial market that we have today which includes payment systems, funding and the transfer of economic resources Watch to understand these essential functions and how technology is driving the evolution of financial markets, to bring us to the destination of productive fintech. Understanding these basics helps us appreciate the innovations happening today. #Finance #Blockchain #Innovation #History Watch the full video here: https://lnkd.in/gFhp_hEi Singapore University of Social Sciences (SUSS) The British Blockchain Association SUSS NiFT Blockchain Security Alliance

On August 6, 2024, Global FinTech Institute announced that they officially joined SUSS NiFT Blockchain Security Alliance. The SUSS NiFT Blockchain Security Alliance, jointly launched by Beosin and SUSS NiFT, consists of several units with diverse industry backgrounds, including university institutions, blockchain security companies, industry associations, fintech service providers, etc. The first batch of board members include Beosin, SUSS NiFT, NUS AIDF, BAS, FOMO Pay, Onchain Custodian, Semisand, Coinhako, ParityBit, and Huawei Cloud. The Global FinTech Institute (GFI) is a non-profit think tank fostering cooperation among regulatory authorities, corporations, and academic institutions. Based in Singapore, GFI addresses challenges and drives innovation in the digital assets landscape through research and discussions that shape policy and industry standards while ensuring consumer protection and regulatory compliance. INFO: https://lnkd.in/gSATG82 The members of the Security Alliance will work together and cooperate to provide security value to the global blockchain ecosystem by leveraging their technical strengths. The Alliance also welcomes more members in blockchain-related fields to join and jointly defend the security of the blockchain ecosystem. As of today, there are 50 members at Blockchain Security Alliance.

In the digital age, crypto fundraising is more than just an alternative to traditional financing methods; it signifies a new era of decentralization, transparency, and accessibility. This method provides startups and entrepreneurs worldwide with unique opportunities for growth and innovation. This latest scholarly work by Willie S., Jincheng Zheng, Yue Wang and Prof David LEE Kuo Chuen 李国权 dives deep into cryptocurrency fundraising, explaining the evolution from Initial Coin Offerings (ICOs) to airdrops and the impact of cryptocurrency fundraising mechanisms. This article also critically assesses the effectiveness of airdrops in project development and proposes design criteria to optimize their benefits. Understand how cryptocurrencies are not just changing the way we think about money but how they could redefine the very nature of fundraising in our rapidly evolving world. Download and read the article here: https://lnkd.in/eMbGkkDC Singapore University of Social Sciences (SUSS) SUSS DBAC The British Blockchain Association Global FinTech Institute WAWEB3

In the digital age, crypto fundraising is more than just an alternative to traditional financing methods; it signifies a new era of decentralization, transparency, and accessibility. This method provides startups and entrepreneurs worldwide with unique opportunities for growth and innovation. Our latest scholarly work by Willie S., Jincheng Zheng, Yue Wang and Prof David LEE Kuo Chuen 李国权 dives deep into cryptocurrency fundraising, explaining the evolution from Initial Coin Offerings (ICOs) to airdrops and the impact of cryptocurrency fundraising mechanisms. This article also critically assesses the effectiveness of airdrops in project development and proposes design criteria to optimize their benefits. Understand how cryptocurrencies are not just changing the way we think about money but how they could redefine the very nature of fundraising in our rapidly evolving world. Download the article here: https://lnkd.in/eMbGkkDC

On August 5, 2024, Ample FinTech announced that they officially joined SUSS NiFT Blockchain Security Alliance. The SUSS NiFT Blockchain Security Alliance, jointly launched by Beosin and SUSS NiFT, consists of several units with diverse industry backgrounds, including university institutions, blockchain security companies, industry associations, fintech service providers, etc. The first batch of board members include Beosin, SUSS NiFT, NUS AIDF, BAS, FOMO Pay, Onchain Custodian, Semisand, Coinhako, ParityBit, and Huawei Cloud. Ample FinTech targets next-generation financial infrastructure, focusing on tokenisation solutions for trusted credentials, privacy and programmable payments, and supply chain finance in cross-border trade and inclusive finance. Their solutions streamline processes, reduce transaction costs, and enhance efficiency, all while committing to regulatory compliance. INFO: https://amplefintech.com/ The members of the Security Alliance will work together and cooperate to provide security value to the global blockchain ecosystem by leveraging their technical strengths. The Alliance also welcomes more members in blockchain-related fields to join and jointly defend the security of the blockchain ecosystem. As of today, there are 48 members at Blockchain Security Alliance.