A renowned cryptographer joins the Symbiont team.
Symbiont, the smart contracts platform for institutional applications of blockchain technology, has appointed Dr. Lisa Yin as its Chief Security Officer and Chief Cryptographer. In her new role, Dr. Yin will lead the development of advanced security and privacy solutions of Symbiont’s platform.
Symbiont is a blockchain-based company that specializes in smart contract securities and distributed ledger applications. The startup was founded in 2015 by Adam Krellenstein, Mark Smith, Evan Wagner, and Robby Dermody. The company’s platform has been tested by Credit Suisse and fifteen other financial institutions experimenting with smart loans.
Dr. Lisa Yin, who will also serve as chief cryptographer, was one of three academics to publish a 2005 paperoutlining an attack on SHA-1. In the eleven years since, further research has been published highlighting attacks on the hashing algorithm, and in recent years tech firms have called for its retirement. Yin also served as chief editor of the IEEE P1363 project, which develops and publishes standards for public-key cryptography. She received her Ph.D. in Applied Mathematics from the Massachusetts Institute of Technology.
“Cryptography and computer security are extremely fast-moving fields, so it is imperative to be able to take full advantage of the latest developments, to anticipate and proactively address new forms of attacks,” “Lisa’s deep knowledge in cryptography and her broad connections to the research community and the industry will allow us to leverage a wide spectrum of expertise in the field,” said Adam Krellenstein, CTO and co-founder of Symbiont.
Symbiont is providing the technology for the most complex, multi-party distributed ledger pilot project to date which incorporates strict privacy requirements to keep information confidential among parties sharing data on-ledger. Credit Suisse announced completion of milestones in the project in September, which involves 15 financial institutions and includes Symbiont’s joint venture partner, Ipreo, and R3. In June the Europe-based companies Allianz and Nephila Capital also completed a pilot with Symbiont’s platform.
Alongside these trials, the company is working with the U.S. state of Delaware and its governor Jack Markell. The state’s government hopes to use the platform to secure and digitize state records. Symbiont architecture will store Delaware public archives on its distributed ledger platform.
“The Symbiont team has already solved hard problems that give its platform a competitive edge in terms of both security and performance,” “I am very excited to join the team, and I look forward to keeping Symbiont ahead of the curve on developments in cryptography, which is a critical building block for distributed ledger technology,” said Dr. Yin.
Symbiont’s hiring of Dr. Yin shows the company is quite serious about progressing forward in this technological race. Many distributed ledger projects, trials, and tests are taking place while the original bitcoin blockchain continues to improve. It will be interesting to see if these blockchain concepts remain prominent over the next few years
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