www.rivetzintl.com (PRNewsfoto/Rivetz International)

Rivetz Intl. has announced an advisory agreement with Parity Technologies Ltd (formerly known as Ethcore), the blockchain core technology company and creator of the Parity Ethereum software, to improve cyber security on the blockchain. Parity Technologies will guide Rivetz on the integration of cyber security controls into blockchain networks and smart contracts. The companies’ agreement signals a commitment to developing increased security standards within blockchain transactions, and associated confidence in blockchain networks and services.

Steven Sprague, founder of Rivetz, commented: “We look forward to working with Gavin Wood and his team at Parity Technologies to improve security and consumer confidence in blockchain technology. Parity Technologies will ensure that Rivetz architecture can be efficiently and securely integrated with modern blockchain and smart contract technology.”

Rivetz will provide peer-to-peer transactions with provable cyber controls that become a permanent part of the blockchain record, providing cryptographic proof that measured protections were in place before a transaction can execute. Rivetz is built on TEE technology that has been delivered on over one billion devices containing ARM-compatible processors.

Founder of Parity Technologies and lead developer of the Parity Ethereum client, Dr. Gavin Wood said: “The Rivetz platform combines trusted computing with blockchain technology to offer provable cyber security controls for blockchain. 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.”