Security Requirements

The Hashstacs Solutions Engineering team set out to implement an authentication and authorization module that would secure all application logins and API access in a secured, scalable and cost-effective manner. We identified the following two security requirements:

· Security Requirement 1: The solution also needed to support integration with Enterprise Identity Providers (IDP) via SAML. [SR1]

· Security Requirement 2: The solution needs to support fine grained access control and user entitlement management. [SR2]

· Security Requirement 3: The developed APIs should not directly be exposed to the public [SR3]

Solution Overview

Security access management is commonly split into two concerns: Authentication (AuthN) which identifies who an entity (principal) is, and then Authorization (AuthZ) which is concerned with what level of access or permissions a principal has. The combination of the two is also sometimes referred to as “AuthX”. …

Project was awarded the Financial Sector Technology & Innovation (FSTI) Proof of Concept Grant by MAS


Singapore, Hong Kong, 14 October 2020 — Hashstacs Pte Ltd (also known as “STACS”), a Singapore FinTech company focusing on Blockchain technology solutions for financial institutions, announced its partnership with EFG Bank (“EFG”) to co-develop a Blockchain platform that will enhance and simplify the processes of structured products.

“Project Nathan — Smart Structured Products”, a collaboration between STACS and EFG, uses Distributed Ledger Technology (DLT) to automate and manage the entire lifecycle of a structured product. …

The STACS Solutions Engineering team was looking to build a fully automated service that processes emails to enhance our existing AWS hosted Application service. This automation would allow a user to send emails to our application service where it would then process the data in the incoming email payload before sending the processed data to digest back to the user.

A few considerations came to mind when designing a robust solution that could scale, namely:

  • We needed to ensure the application service could retry processing of an incoming email should the first attempt failed.
  • The response back to the user is time critical since the sending of the processed payload to the user must be…

THIS WEEK’S TOPIC: Is diversity of directors or their independence the bigger issue in corporate boardrooms?

Below is our Managing Director’s, Benjamin Soh, contribution to Views from the Top in the Business Times:

Companies depend on their directors to provide leadership, guidance and direction. In view of this, the independence of the directors is important in corporate boardrooms in the case of public-listed companies. They should not be an “old boys club” where the directors are merely endorsing what the management proposes.

The directors appointed should ensure that there is no mismanagement of the companies and to safeguard the interests of all shareholders. As an entrepreneur and the founder of Hashstacs, a Singapore fintech company providing enterprise blockchain solutions for financial institutions globally. …

#STACS had the privilege to interview Mr. Chan Boon Hiong, a banking veteran on our video series topic “Digital transformation in the new normal — Blockchain developments in the industry”. Mr. Chan is the Global Head of Securities Market and Technology Advocacy in Deutsche Bank, and has been in the bank for almost two decades. …

#STACS had the honor to interview Mr. Kobsak Duangdee, the Secretary General of Thai Bankers’ Association (TBA) for our video series. Mr. Kobsak has been the Secretary General of TBA since January 2015. …

#STACS had the opportunity to interview Mr. Vijak Sethaput for our video series on the topic “Digital transformation in the new normal — Blockchain developments in the industry”. Mr. Vijak Sethaput is the IT Deputy Director of the Bank of Thailand. He is a senior developer who managed a technical team that contributed to the completion of all three phases of Bank Of Thailand’s Central Bank Digital Currency (CBDC) development, Project Inthanon.

During the interview, Mr. Vijak Sethaput highlighted that the Project Inthanon initiative remains as the focus of corporate CBDC. In the past two years, the team put in place all the sales CBDC processes, and wishes to extend this project to the retail realm. To facilitate work and internal collaboration during this pandemic, Bank of Thailand set up a digital transformation project to accelerate the adoption of modern tools. …

Ms. Benja Supannakul is a partner in the Bangkok office of Baker McKenzie. She joined Baker McKenzie in 2001 and specialises in the area of financial products including but not limited to derivatives, structured products, structured finance, wealth management, private banking, fund management, and debt capital market, especially with regards to the regulatory matters. …

In Hashstacs, we develop various blockchain solutions for Capital Markets. Within our products, we see a big potential to include features that utilize Machine Learning (ML) and Artificial Intelligence (AI) to create additional value for our clients.

Having the STACS blockchain technology as the cornerstone of our applications, Hashstacs is uniquely positioned to harness the synergy of Blockchain and ML, which gives us certain advantages to adopting Machine Learning.

Firstly, the data collected are the one single source of truth. These results in the data to be trusted and more accurate, to be fed into ML models, which improves the quality of our models and gives us confidence in the data that we use for financial use-cases. …

#STACS spoke with top leaders in the FinTech industry for our new “Digital Transformation for Tomorrow” series. In this series, we discussed and asked their opinions and expertise on the topic “Digital transformation in the new normal — Blockchain developments in the industry”.

We are delighted to kickstart the series with an interview with Mr. Chia Hock Lai, the founding president of the Singapore FinTech Association (SFA). He possesses significant experience in the financial and technology industry and has worked in organisations like the Government Technology Agency of Singapore and NTUC Income. …



Digitise All, Digitise the World. — Your Blockchain Development Partner with Core Financial Expertise

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