Sarah Zhang, founder and CEO of Points Technology, was invited to attend World Economic Forum Annual Meeting 2020, held from January 21 to 24 in Davos, Switzerland. The theme for Davos 2020 is Stakeholders for a Cohesive and Sustainable World. A new paper, Reimagining Digital Identity: A Strategic Imperative, which Sarah Zhang participated as a co-author, was officially released by World Economic Forum at Davos. The paper outlines the risks involved for businesses and consumers in the digital management of personal information.
China and Davos have a long history. As early as 1979, after the Reform and Opening up, China received an invitation from Davos for the first time. Since then, an increasing number of Chinese citizens have appeared at the Davos Forum, and more points of view from China have been presented to the world through the Davos Forum. It is the second time that Points Technology has appeared at the Davos Forum. In July 2019, Points Technology won the “Technology Pioneer Award” from the World Economic Forum, which was previously awarded to Google, Wikipedia, Palantir and Ripple back in their start-up days.
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Sarah Zhang is serving as a member of World Economic Forum Global Future Council of Financial & Monetary System, where she has contributed to multiple publications and initiatives in data-based new business models and digital currencies.
At the Davos Forum, Sarah Zhang also discussed with leaders from all walks of life, for instance, artificial intelligence, cloud computing and blockchain, how cutting-edge technologies promote the sustainable development of world economy and social improvement in the era of digital economy.
The paper Reimagining Digital Identity: A Strategic Imperative was co-authored by the high-level international political, academic, technological and non-profit organizations, such as the British government, Stanford University, Google, Points Technology and internet and digital address distribution organizations. This paper points out that the risks involved for businesses and consumers in the digital management of personal information. The World Economic Forum believes this paper provided a framework and insights for managers to rethink how to deal with digital identity in their businesses.
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Along with the development of digital economy, more companies hope to achieve greater business value by mining data as a new type of asset. On the other hand, data privacy and security has raised great attention. At the regulatory level, more stringent laws and regulations have been introduced to regulate the use of data by enterprises and the privacy of users. Through the confidential computing framework based on the trusted execution environment (TEE) and blockchain technology, Points Technology help clients to make data available but invisible.
Points Confidential Computing framework is based on TEE and other encryption technologies. It makes data usable but not visible to ensure data privacy, security and compliance. At the same time, relevant records of data sharing are documented and traced by blockchain. Points Confidential Computation thus can be the underpinning technology for Open Banking, Government-led Data Sharing Initiatives and privacy-perserving cross-marketing campaigns.
Just after their Davos trip, Points Technology announced a mult-million USD series A financing, backed up K2VC, a leading venture capital firm in China. In spite of the challenges and uncertanities in the global economic environment, Points Technology will continue to research and develop new products and advance the fields of private AI and enterprise grade distributed ledger.