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Formal Methods for Modern Payment Protocols

MBZUAI ·

Researchers at ETH Zurich have formalized models of the EMV payment protocol using the Tamarin model checker. They discovered flaws allowing attackers to bypass PIN requirements for high-value purchases on EMV cards like Mastercard and Visa. The team also collaborated with an EMV consortium member to verify the improved EMV Kernel C-8 protocol. Why it matters: This research highlights the importance of formal methods in identifying critical vulnerabilities in widely used payment systems, potentially impacting financial security for consumers in the GCC region and worldwide.

Bahrain’s AI Push in Middle East Could Serve as Model for Region, Experts Say - PYMNTS.com

Bahrain AI ·

Bahrain is actively advancing its artificial intelligence capabilities, positioning itself as a potential regional leader in AI development. Experts suggest that the country's strategic approach to integrating AI across various sectors could serve as a blueprint for other Middle Eastern nations. This initiative likely encompasses policy frameworks, infrastructure development, and talent cultivation to foster a robust AI ecosystem. Why it matters: Bahrain's efforts offer a crucial case study for national AI strategies, potentially influencing broader AI adoption and economic diversification across the Gulf region.