5 blockchain trends to watch for in 2018 | The Enterprisers Project


Few new technologies have raised as much discussion as blockchain. One reason is the controversy, concern, and perceived opportunity around blockchain-based cryptocurrencies (such as bitcoin and ether) and crowdfunding via initial coin offerings (ICOs). But what is blockchain’s role in the enterprise? 

This article gives some ideas to think about. Take those trends with grain of salt. There will be a crash ans bubble burst on blockchains in few years.


  1. Tomi Engdahl says:

    How a Ugandan prince and a crypto startup are planning an African revolution

    What if blockchain turned out to be just what emerging economies were after?

    Cpto and blockchain enthusiasts have been railing for years against the centralized world of banks, but many have been doing so from the privileged vantage point of developed countries. But what if blockchain technology turned out to be most revolutionary in emerging economies?

    Take Africa for instance. Consumers in those countries became so frustrated with the banking fees imposed on their transactions every time they wanted to merely top up their mobile airtime, that airtime minutes alone actually became a form of money. Banking in the way it’s been developed for the developed world simply does not work when a transaction to top up a phone can cost more than the airtime itself.

  2. Tomi Engdahl says:

    Smart Contract (in)Security – Broken Access Control

    This blog post is the first of a series that will describe some simple real-world smart contract security bugs, how they were exploited, the resulting impacts and the corresponding code fixes. The series will cover more than $250M USD in losses directly attributable to smart contract security bugs.

    What are smart contracts? Imagine relatively short, publicly-accessible programs capable of owning large amounts of money and that execute complex transaction logic in an unchangeable and unstoppable fashion on a platform that is rapidly evolving alongside with its tools. Think blockchain 2.0 where transactions invoke code execution. These autonomous programs issue and manage private currencies, implement novel funding systems, tokenize capital assets, enable new business models and even breed digital cats called CryptoKitties! There is no imagination required – the fascinating and flourishing world of smart contracts is already here with well over $1B USD of Ethereum changing hands daily.

    Bugs are bad! One of the primary challenges limiting the progress of smart contract adoption is security. It is well known that “every program always has one more bug”, and some bugs can be catastrophic. In the case of smart contracts, security bugs may exist wherever code behavior diverges from developer intent. This applies to both local low-level behavior through to the global system or social context (like front-running). Further, sometimes intent is stated and sometimes intent is unstated. Clearly, ‘security’ is a big, broad umbrella term in this application space.

    Solidity is a new language created specifically for Ethereum-based smart contracts and has many similarities to JavaScript, Java and C. Contracts are compiled to bytecode, embedded on the blockchain via a special transaction, and ultimately executed in the Ethereum Virtual Machine when stimulated by other transactions. As most security bugs are shockingly simple in retrospect, this blog series will not require deep expertise.

  3. Tomi Engdahl says:

    Bitcoin’s Double Spending Flaw Was Hush-Hush During Rollout

    For a little while it was possible to spend Bitcoin twice. Think of it like a coin on a string, you put it into the vending machine to get a delicious snack, but if you pull the string quickly enough you could spend it again on some soda too. Except this coin is worth something like eighty-grand.

    On September 20, the full details of the latest fix for the Bitcoin Core were published. This information came two days after the fix was actually released. Two vulnerabilities were involved; a Denial of Service vulnerability and a critical inflation vulnerability, both covered in CVE-2018-17144. These were originally reported to several developers working on Bitcoin Core, as well as projects supporting other cryptocurrencies, including ABC and Unlimited.

    Let’s take a look at how this worked, and how the network was patched (while being kept quiet) to close up this vulnerability.

  4. Tomi Engdahl says:

    BuzzFeed News:
    How a Quebec IT engineer got swept up in the crypto craze and started a multimillion ponzi scheme, defrauding dozens of people after his mining strategy failed

    How A Hapless Bitcoin Entrepreneur Got Swept Up In The Crypto Craze And Started A Multimillion-Dollar Ponzi Scheme

    A Quebec IT worker was certain he’d developed a foolproof way to mine bitcoin. Instead, it led him and his investors to ruin.

    In early 2016, a Canadian software engineer named Dominic Pelletier uploaded a video to YouTube announcing a new bitcoin venture.

    off his cryptocurrency mining equipment, which he had set up in his kitchen next to a sink full of dirty dishes.

    He liked to make big promises, even if he couldn’t always deliver. Back in 2016, he was an enthusiastic cryptocurrency convert and had big plans about how to make money. Over the following year, as interest in cryptocurrencies continued to grow, Pelletier pitched himself as an expert who could take people’s bitcoin and grow its value through a complicated mining process. Pelletier was convinced he’d developed a mining method that gave him an edge over everyone else, leading to 30% to 50% more in rewards.

    Pelletier found investors on websites that allowed people to give and receive loans in bitcoin. On one site, he offered a fantastical interest rate of up to 19% a month. He said he would use the loans to buy new equipment, which would in turn enable him to be even more successful at mining bitcoin.

    Pelletier convinced dozens of people to lend him millions of dollars’ worth of bitcoin, sometimes with nothing more than a gentleman’s agreement that he would pay it back.

    In a Facebook Messenger conversation with BuzzFeed News, Pelletier, 38, said he always intended to pay back the loans, and painted himself as an accidental Ponzi schemer.

    “When you have lost you have to paid back and often with the capital of another loan,” he said, explaining that when he lost money, he used new loans to pay people back.

    Today, Pelletier says he regrets ever having touched bitcoin. He doesn’t know exactly how much money he owes dozens of people, but it’s about 200 bitcoins by his own calculations, worth more than $1 million at today’s price. He is deep in debt

    The experience of Pelletier and his lenders is a case study in the irrational exuberance that caused people around the world to place their financial futures at the mercy of a new and volatile internet technology rife with scams and lacking regulatory oversight. From early 2015 to late 2017, the value of bitcoin increased more than 7,500%, fueling a frenzy. It peaked in December 2017 at an all-time high of almost $20,000 before the bubble burst and prices crashed. The price of bitcoin is currently sitting around $6,600.

    This frenzy enabled the emergence of a crypto loans industry that allowed people like Pelletier to create online profiles to entice others to hand over their bitcoin — with no actual legal agreement in place to pay it back. Suddenly, an entire industry was created

    BitConnect was one of the largest cryptocurrency platforms in the world. It offered users the chance to loan the company bitcoin in return for an impossibly high rate of 1% daily compound interest, paid out in its own BitConnect Coin currency. Such an interest rate would turn a $1,000 investment into more than $50 million in just three years — a definite sign it was a Ponzi scheme. That became clear when the site closed in January and the price of BitConnect Coin took a nosedive, wiping out about $2.5 billion in value almost overnight.

  5. Tomi Engdahl says:

    I’m very sorry, but you’re going to have to learn to love the blockchain


    I’m very sorry, but you’re going to have to learn to love the blockchain
    Jon Evans
    @rezendi / 4 hours ago

    I apologize. I get it. You hear “blockchain” and you immediately think “shady get-rich-quick schemes” or “bubble of magical fake Internet money” or “libertarian enfants terribles,” and when a true believer tries to explain to you why you should care, why it will change the world beyond just minting a new set of paper oligarchs, you think “wait, why not just use a database?” I hear you.

    And you’re not wrong. In the developed world, at least, there isn’t a lot that Bitcoin can do which isn’t already handled better, and more safely, by banks and credit cards. The vast majority of other cryptocurrencies are basically penny stocks in an unregulated global stock market

    the ones which are Bitcoin

    Ethereum is more interesting, you might grudgingly concede, with its whole “world computer” concept, running code and storing data on what is essentially a decentralized permissionless virtual machine scattered across thousands of nodes worldwide — but nobody actually uses it except to host the aforementioned stock market / casino, plus maybe the occasional memetic CryptoFad, and even if people did want to use it, they couldn’t, because it doesn’t scale.

    All (currently) true.

    But I think the existence of that alternative will be very important

    The first is advertising-driven media. This is creepy enough in and of itself: it leads directly to user tracking, browser fingerprinting, ad retargeting, clickbait farms

    The second is the simple fact that, unless you design against this from the very beginning, technology tends to centralize power, courtesy of Metcalfe’s Law and other winner-takes-most effects.

    That’s why the mere existence of a permissionless decentralized alternative, one not financed by ads, one not ruled by any central titanic company, is important.

    Some of the most interesting decentralization initiatives, notably Blockstack, use blockchains so subtly that you’ll hardly notice it. But they’re vital to them nonetheless.

    I do believe there’s a genuine technically, politically, financially, and socially interesting alternative movement being born

  6. Tomi Engdahl says:

    Sara Fischer / Axios:
    Forbes partners with journalism blockchain network Civil to become the first major media company to experiment with publishing stories to the blockchain

    Scoop: Forbes is trying out the blockchain

  7. Tomi Engdahl says:

    Nikhilesh De / CoinDesk:
    EU securities watchdog ESMA says it is now examining how ICOs fit into existing regulation case by case, after budgeting €1.1M to monitor crypto assets in 2019

    European Securities Regulator to Report on ICO Rules by 2019

    European regulators are determining whether to regulate initial coin offerings (ICOs) as securities sales on a case-by-case basis, Reuters reported Monday.

    The news comes less than a week after ESMA revealed it was budgeting more than €1 million to monitor cryptocurrencies and other fintech activities next year.

    As previously reported, the agency’s 2019 Annual Work Programme set aside €1.1 million for activities revolving around financial innovation, including crypto assets.

  8. Tomi Engdahl says:

    Alyssa Hertig / CoinDesk:
    Blockstream debuts Liquid, a “federated sidechain” for bitcoin that lets partners, which include two dozen exchanges, quickly transact bitcoin — Three years in the making, bitcoin’s first sidechain “Liquid” is now live. — Launched by San Francisco startup Blockstream …

    Liquid Goes Live: Blockstream’s First Bitcoin Sidechain Has Finally Arrived

    Three years in the making, bitcoin’s first sidechain “Liquid” is now live.

    Launched by San Francisco startup Blockstream, Liquid is arguably the most advanced implementation of a technology called sidechains that’s long been a holy grail for bitcoin coders (though what’s being launched today may be a watered-down version of the original “trustless” vision). Still, that doesn’t dilute the capabilities of what the company, founded by bitcoin’s top open-source coders in 2014, has created.

    Built off of the live blockchain, Liquid will now be used to carry large volumes of transactions at a higher speed for several of bitcoin’s largest companies.

  9. Tomi Engdahl says:

    Ana Berman / Cointelegraph:
    Diar report: as Bitcoin mining revenues reach ~$5B in 2018, rising costs like electricity are making mining unprofitable for all but the biggest of players — Bitcoin (BTC) miner revenues for the first six months of 2018 have already surpassed results in 2017, but the miners themselves see little profit …

    Crypto Mining Becomes Less Profitable, Shifts Towards ‘Bigger Players,’ Report Shows

    Bitcoin (BTC) miner revenues for the first six months of 2018 have already surpassed results in 2017, but the miners themselves see little profit, weekly crypto outlet Diar reports Monday, October 8.

  10. Tomi Engdahl says:

    Research: China has the power to destroy Bitcoin
    … and it’s already manipulating the network

    A damning new study has suggested China holds threatening influence over Bitcoin BTC – and perhaps even the ability to attack and ultimately destroy the entire Bitcoin network.

    Academics from Princeton and Florida International Universities have explored how China “threatens the security, stability, and viability of Bitcoin” with its “political and economic control over domestic [cryptocurrency] activity […] [and] internet infrastructure.”

    According to the paper, China has both “mature capabilities” and “strong motives” to perform a variety of attacks against Bitcoin. Even worse, it is already exerting its power over Bitcoin in a myriad of ways.

    “As the value and economic utility of Bitcoin have grown, so has the incentive to attack it,” the researchers explain.

    Chinese mining pools control Bitcoin

    The paper establishes its thesis by proving the Bitcoin mining ecosystem has become “heavily centralized.” Cryptocurrency miners have banded to such an extent that “over 80 percent of Bitcoin mining is performed by six mining pools,” with five of those managed directly by individuals or companies based in China.

    The primary threat to Bitcoin’s infrastructure is the “51-percent attack,” which consists of mining pools teaming up to control a majority of the hash rate (Bitcoin’s overall processing power), allowing them to directly influence much of what happens on the Bitcoin network.

    When you consider the combined effort of Chinese mining pools accounts for 74 percent of Bitcoin’s hash power, the situation becomes incredibly unsettling.

    The Looming Threat of China:
    An Analysis of Chinese Influence on Bitcoin

  11. Tomi Engdahl says:

    Porn-oriented cryptocurrency SpankChain skips security audit, gets hacked
    SpankChain says a proper security audit would’ve cost too much
    Another day, another cryptocurrency hack. Notorious blockchain startup SpankChain has temporarily taken down its adult streaming platform after attackers exploited its smart contracts to steal $38,000 worth of Ethereum.

    The company, which aims to provide a cryptocurrency payment protocol for the adult industry, confirmed the hack on its official blog. SpankChain further said it expects its streaming platform will remain offline for the next couple of days (and possibly more), until all security flaws have been sorted.

    The worst part is that it appears a chunk of the stolen funds belonged to SpankChain users. The company has since vowed it will conduct an airdrop to reimburse affected users.

    As a result of the hack, $4,000 worth of SpankChain’s native token (BOOTY) has been frozen for the time being.

  12. Tomi Engdahl says:

    Data centers used for bitcoin mining

    Data centers used for bitcoin mining have significant differences from their commercial data center counterparts.

    Defining bitcoin mining and mining data centers

    At a high level, the secure hash algorithm (SHA) is a function that is used to validate bitcoin transactions and ensure the security for the bitcoin network’s public ledger, also known as the blockchain. The speed at which bitcoins are mined is measured in hashes per second. The servers used in mining (referred to as “miners” or “mining servers”) bundle recent bitcoin transactions into “blocks,” then work to solve cryptographic problems to help validate each block, making sure the ledger entries are accurate. These cryptographic problems are where the mining servers and data centers come into play. Solving these problems requires heavy-duty computational power operating for long periods of time.

    The bitcoin network pays bitcoin miners for their time, effort, and financial investment by releasing bitcoins to those who contribute the needed computational power to validate the transactions. The greater computational power a miner has, the greater the portion of compensation—this is the overarching driver for why individuals and corporations are building megawatt bitcoin mining data centers, either to be used by themselves or for paying customers who then have access to mining servers without having to make major capital investments in information technology (IT) and facilities. In either scenario, minimizing first costs and ongoing energy costs is critical to maximizing return on investment (ROI).

    Fundamentally, a mining data center shares the same basic design and operational principles as other types of data centers: Power is brought to the building and distributed to the equipment, air-distribution systems maintain the required environmental conditions, and the building provides protection from outside conditions and security from external threats. Although on a deeper level, there are significant differences to data centers that are used for mining than their commercial data center counterparts. This divergence is readily seen in the examination of the following categories:

    Impacts of mining server design
    Data center structure and envelope
    Cooling and air distribution
    Energy use and efficiency.

    Analyzing the data on the growth of bitcoin from 2014 to 2018 indicates a tremendous growth in mining activities.

    Mining server design

    Two major considerations when investing in mining servers is the first-cost per hash and the electrical efficiency stated in watts per hash. Higher-performing computers have higher hash rates, providing greater computational power to the mining operation. In contrast to enterprise servers, miners are designed to accomplish only one task-mining. Currently, a common type of architecture used for mining servers is based on the application-specific integrated circuit (ASIC) chips, often referred to as system on a chip (SoC).

    When developing a cooling system strategy, an important consideration is that miners can operate with inlet conditions of 80 to 90°F and10% to 80% non-condensing relative humidity. A powerful mining server can have an electrical demand of 1,400 W or more, dissipating the equivalent quantity of heat to the data center.

    Typically, mining data centers use buildings that are constructed of lightweight materials-including the exterior walls, roof, and windows—such as a storage facility or warehouse. This construction is akin to a Level 1 basic facility as defined in the Telecommunications Industry Association (TIA) 942 Standard. A Level 1 basic facility has the least resiliency of the four levels in terms of systems reliability, handling extreme weather events, security, and many other criteria.

    A Level 1 basic facility data center will have little or no redundancy in the cooling systems. Lower reliability systems do not use redundant equipment

    In a mining data center, the servers are mounted on industrial shelving units, allowing for quick replacement in case of server failure. This shelving arrangement offers cost advantages for procuring the products and labor to install the shelving.

    One of the advantages of using the industrial-type shelving to hold the computers is the openness of the installation.

    As previously mentioned, the mining servers can operate with air temperatures ranging from 80 to 90°F and beyond. If the outdoor air is approximately equal to the maximum allowable server temperature, no mechanical cooling is required. Therefore, the data center’s geographic location and the server’s maximum operating temperature must be taken into consideration in tandem; cooler locations and hotter server operating temperatures will have the lowest energy use, while the hottest locations and lowest server temperatures will use the most energy

    Energy use is a primary concern for mining operations. If operating costs are higher than what is needed for a favorable financial return on the mining operation, the business model will be a non-starter.

    To illustrate this point, in 2009 when bitcoin launched, each block created was worth 50 bitcoins. By design, this figure is scheduled to fall by half every 4 years: 25 bitcoins in 2012, 12.5 bitcoins in 2016, and 6.25 bitcoins in 2020. When the mining industry’s revenue falls by half, its energy consumption must fall proportionately. If it doesn’t fall, mining would become an unprofitable activity. It is necessary to control energy consumption and cost by upfront analysis on location, system type, server performance, etc.


    The mining server has an electrical demand of 1,620 W.
    The server has a hash rate of 18 T-H/s.
    The server’s first cost is $4,800.
    The electricity rate is $0.10/kWh.
    The server will mine the equivalent of $3,200/year in bitcoins.
    The data center’s cooling system power (watts per watt of server power) is 0.392.
    Data center construction costs (dollars per watt of server power) equal $3 per watt.

  13. Tomi Engdahl says:

    Why Everyone Missed the Most Mind-Blowing Feature of Cryptocurrency

    There’s one incredible feature of cryptocurrencies that almost everyone seems to have missed, including Satoshi himself.

    But it’s there, hidden away, steadily gathering power like a hurricane far out to sea that’s sweeping towards the shore.

    It’s a stealth feature, one that hasn’t activated yet.

    That’s almost the entire history of money in one paragraph. Coercion and control of the supply with violence, aka the “violence hack.” The one hack to rule them all.

    When power passed from monarchs to nation-states, distributing power from one strongman to a small group of strongmen, the power to print money passed to the state. Anyone who tried to create their own money got crushed.

    Centralized enemies are easy to destroy with a “decapitation attack.” Cut off the head of the snake

    That’s what happened to e-gold in 2008, one of the first attempts to create an alternative currency

    The power to grant a license is monopoly power.

    E-gold was free to apply for interstate money transmitting licenses.

    It’s just they were never going to get them.

    Kings and nation states know the real golden rule:

    Control the money and you control the world.

    In decentralized systems, there is no head of the snake. Decentralized systems are a hydra. Cut off one head and two more pop-in to take its place.

    And the first decentralized system of money was born:


    It was explicitly designed to resist coercion and control by centralized powers.

    Satoshi wisely remained anonymous for that very reason.

    As Bitcoin rises in value, the hunt for Satoshi will only intensify. He controls at least a million coins that have never moved from his original wallets. If VC Chris Dixon is right and Bitcoin rocket to $100,000 a coin, those million coins will shoot up to $100 billion.

    Wherever he is, my advice to Satoshi is this:

    Stay anonymous until your death bed.

    But resistance to censorship and violence are only one of a number of incredible features of Bitcoin. Many of those key components are already at work in a number of other cryptocurrencies and decentralized app projects, most notably blockchains.

    Blockchains are distributed ledgers, the third entry in the world’s first triple-entry accounting system. And breakthroughs in accounting have always presaged a massive uptick in human complexity and economic growth

    The true power of cryptocurrencies is the power to print and distribute money without a central power.

  14. Tomi Engdahl says:

    Blockchain in 2019: 4 trends to watch

    Let’s do a reality check: What blockchain trends should you be watching in the months ahead?

    1. Growing push to identify best business use cases
    2. The nascent blockchain industry will work on its image
    3. Blockchain tests broaden and involve more business functions
    4. Critical evaluation of scalability and performance

    A public blockchain might process only 15-20 transactions per second, for example.

  15. Tomi Engdahl says:

    A War-Torn Country in Syria Will Use Crypto to Power an Anarchist State

    A region home to 4 million people in Northern Syria is looking to cryptocurrency as a way to overcome economic sanctions.

    Rojava, also known as the Democratic Federation of Northern Syria, has spent the last six years at war for its territory. Now under a fragile peace, the region is under economic sanctions from all sides – Turkey, Iran, Syria, Iraq. In the midst of this uncertainty, however, those backing the state are putting a new emphasis on monetary independence.

    Because its primary currency is the Syrian lira, the main currency of the Syrian state (which Rojava has just spent years fighting), there’s a growing belief in some quarters that cryptocurrency could provide a better alternative

  16. Tomi Engdahl says:

    Coinbase is shutting down its fund aimed at big investors as it pivots to a new retail product

    Quick Take

    Coinbase is shutting down its index fund aimed at wealthy investors as it shifts its focus to a new retail product
    A person familiar with the situation said the fund failed to attract enough interest
    The firm is pivoting its focus to “Coinbase Bundle,” a recently announced product

  17. Tomi Engdahl says:

    Study analyzing 32 biggest bitcoin holders, known as “whales”, suggests they may be stabilizing the market rather than destabilizing it and driving volatility

    The Not-So-Killer Whales of Bitcoin

    New data shows that bitcoin’s largest holders are a diverse group that may be stabilizing, rather than destabilizing, the market.

    In August 2018, rumors flared about a $2 billion whale, or outsized bitcoin holder, who was suspected of single-handedly setting off a 15% plunge in bitcoin’s value by selling off more than 50,000 coins in a month, according to Bloomberg. The abrupt drop in value—and whispers of its shadowy origins—made bitcoin investors of all sizes wary of a market that might be dominated by a few giant players, who could undermine pricing at any moment.

    Intensive analysis of bitcoin’s 32 largest wallets, however, shows these fears to be overblown. Our data demonstrates that Bitcoin whales are a diverse group, and only about a third of them are active traders.

  18. Tomi Engdahl says:


    Mobi Grand Challenge

    The MOBI Grand Challenge hosted by MOBI, the Mobility Open Blockchain Initiative, and TIoTA, the Trusted IoT Alliance, is loosely modelled on the DARPA grand challenge for autonomous driving which captured the public imagination and launched the autonomous driving revolution. However, unlike the DARPA challenge, vehicles won’t be required to navigate a course without a human driver. Instead, the MOBI Grand Challenge will focus on fulfilling MOBI’s purpose, which is to increase access and efficiency, reduce pollution and congestion, and to avoid accidents and save lives. This is the first challenge of a three-year project.

    The ultimate goal is the creation of a viable, decentralized, ad-hoc network of
    blockchain/dlt connected vehicles and infrastructure that can reliably share data,
    coordinate behaviour, and thereby improve urban mobility.

  19. Tomi Engdahl says:

    Firefox, Chrome, Safari and Edge Dropping TLS 1.0, 1.1

    Apple, Google, Microsoft and Mozilla all announced today that they will disable TLS versions 1.0 and 1.1 in their respective browsers by default by the first half of 2020. The TLS protocol is what browsers, instant messengers and even email servers primarily use to secure communications.

    TLS 1.0, 1.1 Deprecated
    Over the past few years, we’ve seen new attacks that exploit weaknesses in the design of the TLS 1.0 and TLS 1.1 protocols and algorithms that were used alongside them. These attacks include BEAST, which allows malicious actors to steal the TLS authentication tokens, Logjam and FREAK, which allow attackers to downgrade the security of a connection to a server, as well as insecure hash functions, such as MD5 and SHA-1.

    In addition to all of this, the TLS 1.2 protocol is more than a decade old, so both browsers and web developers have little excuse not to use it by now. Earlier this year, the IETF also finalized the TLS 1.3 specification

  20. Tomi Engdahl says:

    Crypto Industry on ‘Brink of an Implosion,’ Researcher Says

    By Olga Kharif
    9. lokakuuta 2018 klo 17.25 UTC+3
    Declining daily transaction volume, values seen as negative
    Quarter-over-quarter transactions are seen plummeting again

  21. Tomi Engdahl says:

    The blockchain media startup’s ICO failed

    Blockchain media startup Civil is issuing full refunds to all buyers of its cryptocurrency

    Many doubted The Civil Media Company‘s ambitious plan to sell $8 million worth of its cryptocurrency, called CVL.

    The skeptics, as it turns out, were right. Civil’s initial coin offering, meant to fund the company’s effort to create a new economy for journalism using the blockchain, failed to attract sufficient interest.

    Civil isn’t giving up. The company says “a new, much simpler token sale is in the works,”

    Separate from its token sale, Civil has inked strategic partnerships with media companies like the Associated Press and Forbes

    Forbes became the first major media brand to test Civil’s technology when it announced earlier this month that it would experiment with publishing content to the Civil platform. As for the AP, it granted the newsrooms in Civil’s network licenses to its content.

    Civil, of course, isn’t the only blockchain startup targeting journalism. Nwzer, Userfeeds, Factmata and Po.et,

  22. Tomi Engdahl says:

    PAX stablecoin has backdoor for freezing and seizing cryptocurrency
    Devs built them for ‘LawEnforcement’

    The Ethereum community has found some rather unnerving facts about a new stablecoin known as PAX. It turns out the cryptocurrency – backed by the US dollar – contains backdoors that give law enforcement (or anyone else, for that matter) a concerning amount of control over your funds.

    PAX has a function – called “setLawEnforcementRole” – which creates a new Ethereum address with administrative permissions over the circulating PAX supply. This practically means anyone with these permissions can tamper with any wallet they please.

    The stablecoin allows the new addresses powerful functions – particularly “freeze” and “wipeFrozenAddress” – that lets “authorities” freeze wallets (and addresses) at will, and even destroy any assets they possess.

    The vulnerability in question was first spotted by blockchain developer John Backus. Hard Fork has reviewed the code to corroborate his findings. Note, the rather obvious language, specifically: “setLawEnforcementRole.”

  23. Tomi Engdahl says:

    Kate Rooney / CNBC:
    PitchBook/JMP Securities report: crypto M&A deals have surged over 200% this year with 115 deals having been announced, on pace to hit 145 by year’s end

    Crypto M&A is on a tear as deal-makers see opportunity in bitcoin’s price slump

    Merger and acquisition activity for cryptocurrency companies has more than doubled in the past year amid a 54 percent slump in bitcoin prices, according to JMP Securities and data from PitchBook.
    The value of tokens associated with start-ups remains correlated to bitcoin instead of the value of the actual company, which creates an “ideal opportunity for strategic acquirers,” JMP Securities’ Satya Bajpai says.
    The industry is in a “land grab” for innovative technology, access to new markets, intellectual property, and talented employees through M&A.
    “As soon as a company becomes interesting, they get bought — the deal size may still remain small, but the number of deals will increase because that’s the most viable and fastest way to grow in this environment,” Bajpai says.

  24. Tomi Engdahl says:

    Inti Landauro / Reuters:
    FATF, a global watchdog for money laundering, will set first rules on oversight of cryptocurrencies by June; non-complying countries will be added to blacklist — * FATF to set standards on regulation of crypto firms — * Exchanges, wallet providers, ICO-related firms in focus


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