Day: November 13, 2018

Iran Disconnected From SWIFT, Launches State Backed Crypto Rial

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Global provider of secure financial messaging services, SWIFT, has ousted the Central Bank of Iran (CBI) from its financial banking system. The US-led sanctions will make it difficult for Iran to settle its international deals. In response, the authorities in Iran have accelerated the development of their state-backed national digital currency. Central Bank of Iran’s State Backed Cryptocurrency According to a local media source, Informatics Services Corporation (ISC), a private tech wing of the CBI, confirmed that they had developed the said crypto-rial. The company’s CEO Seyyed Abotaleb Najafi claimed…

Electronics Giant Bosch Partners with IOTA to Launch New Device for IoT Data Collection

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Engineering and electronics manufacturer Bosch has partnered with IOTA, integrating its new data collection Internet of Things (IoT) device with the decentralized IOTA Data Marketplace, according to a tweet from Bosch Nov. 12. The IOTA Marketplace is a decentralized data marketplace where parties can buy or sell access to active data streams, using MAM (Masked Authenticated Messaging). According to a post on Bosch’s blog, MAM is a second-layer data communication protocol that allows for data to be shared peer-to-peer securely via an encrypted channel. Data subscribers can in this way…

ArcBlock, Soar Partner to Build Super Map using Blockchain

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ArcBlock, which offers an application development platform for decentralized applications and blockchain-enabled services, has formed a partnership with Soar to collaborate on building the world’s first decentralized super-map using blockchain technology. Soar aims to use blockchain technology to create a new decentralized platform for high-resolution drone, aerial, and satellite imagery that provide incentives to content creators and offers access to images, video, and aerial maps for end users to purchase. “We believe that Soar is redefining the mapping industry by empowering content creators and meeting an increasingly important customer need…

New Linux-Targeting Crypto-Mining Malware Combines Hiding and Upgrading Capabilities

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Japanese multinational cybersecurity firm Trend Micro has detected a new strain of crypto-mining malware that targets PCs running Linux, according to a report published Nov. 8. The new strain is reportedly able to hide the malicious process of unauthorized cryptocurrency-mining through users’ CPU by implementing a rootkit component. The malware itself, detected by Trend Micro as Coinminer.Linux.KORKERDS.AB, is also reportedly capable of updating itself. According to the report, the combination of hiding and self-upgrading capabilities gives the malware a great advantage. While the rootkit fails to hide the increased CPU…

Ripple Takes China By Storm Through A Joint Venture With AmEx and LianLian Group

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Ripple has finally made its way into the Chinese market. This is through an approval of a joint operation of LianLian Group and American Express (AmEx) by the Chinese authorities. The approval will enhance the processing of card payments in China. As Ripple goes to China, AmEx becomes the first American company to gain a direct entry into the China e-commerce market. In the recent past, the rapid growth of the Chinese market has continued to hit headlines. This has attracted traders from all walks of life. A further prediction…

Bitmain Co-Founder Jihan Wu Loses Executive Power in Board Reshuffle, Says Chinese Media

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Cryptocurrency commentators are eyeing Bitmain Nov. 13 after Chinese industry media outlet Sanyang Blockchain reported a board reshuffle had resulted in co-founder Jihan Wu being unable to influence corporate decisions. Citing an unnamed “financial news” source, Sanyang quotes a lawyer for Bitmain, Tian Yangang, saying that as a result of the redistribution of positions at the company’s executive board, Wu had been demoted from being a “director” to a “supervisor.” “After changing to a supervisor, there are no voting rights, so [Wu’s] power is smaller and [he] cannot participate in…

Endchain to Develop Blockchain Tracking Solution For Chinese Factory

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Blockchain logistics firm Endchain says that it will build a blockchain-powered tracking solution for Chinese maker of electrical equipment Ming Kee Factory. The blockchain tracking solution will allow Ming Kee to better track consumer electronics. Ming Kee is a 40-year-old manufacturer based in the port and industrial hub of Ningbo, North-Eastern China. “We believe there is a symbiotic relationship between EndChain and Ming Kee. It is also a proof of concept of EndChain’s product as well as a validation of EndChain’s idea. Ming Kee has chosen to partner with EndChain…

The Hong-Kong Based Bitcoin Exchange, BTCC Is Shutting Down Its Mining Pool

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After more than four years of being in the business, the oldest Bitcoin exchange in China is calling it quits. The Hong-Kong based Bitcoin exchange, BTCC, will close indefinitely from what it has described as business adjustments. What the adjustments are exactly is not known to the public and the firm did not divulge any details surrounding the closure. Its mining servers will shut down on November 15 and will have a complete halt of operations from November 30. Many have questioned the closure of the exchange given that it…

A new research explains how Bitcoin hackers can now steal your crypto

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Cryptocurrency theft is being increasingly faced by many in the cryptocurrency community. However,  when talking of bitcoin hackers, many turn to think about of hack on cryptocurrency exchanges. However, there are many skilled criminals who focus on individuals rather than large scale such as exchanges. According to a new research by Kaspersky Labs, Malware keeps evolving and it’s at its now prime targeting cryptocurrency users and services. According to the research, this quarter has seen a spike in Bitcoin sextortion emails. With this form of theft, Bitcoin hackers and thieves…

IBM Patent Says Blockchain Can Help Track Open Scientific Research

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A Watson Research Center team at IBM recently filed a patent application that says blockchain technology can be of great help in tracking open scientific research. According to the patent, blockchain can help researchers track their work across institutions. This new development based on distributed ledger technology (DLT) is one more non-financial application from the IT giant that is continuously researching blockchain and related technologies for applications. As per the filing, the latest patent makes the scientific research log tamper-resistant. The filing for the patent from IBM says, “The blockchain…