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Russia’s Blockchain Legislation Could Be Ready in a Few Months

Cryptocurrencies aren’t the only technology getting the regulation treatment in Russia. The country has stated that a legislative framework for blockchain technology could be implemented within the next few months. Russia has made no secret of the fact that they are not cheerleading the decentralized cryptocurrency revolution. However, as with most industries, they are fully on board the blockchain bandwagon. Russian President Vladimir Putin has previously endorsed the technology as a way for the country

The post Russia’s Blockchain Legislation Could Be Ready in a Few Months appeared first on Bitcoinist.com.

ARGO Reality, New AR-Platform for Brands Customers Now on It’s Pre-ICO Phase That Will Continue Through April 10, 2018.

ARGO is a scalable AR-based gaming, advertising and information space, focused on a totally digitalized Generation Z and “digital immigrants” of other generations. We create a new, mutually beneficial channel of interaction between brands and customers who possess specific, “digital” behavior patterns. Why Is It Important? AR is impressive in games, but what about real life? That’s a task we are solving: combining AR and real goods, brands, and profit. The financial potential of augmented

The post ARGO Reality, New AR-Platform for Brands Customers Now on It’s Pre-ICO Phase That Will Continue Through April 10, 2018. appeared first on Bitcoinist.com.

Promoted: ShoCard Hopes to Crack the Emerging Identity Management Problem

Shocard

In case you hadn’t noticed, identity management is broken.


We have been looking for ways to prove that we are who we say we are quickly and safely for years, and it isn’t working. It’s one problem that the Cupertino, California-based blockchain technology startup ShoCard is hoping to solve.


Passwords are toxic, and two-factor authentication is a cumbersome bandage that doesn’t solve the underlying problem: Once we hand over our sensitive data to a third party, we no longer control it.


Some of the most prominent breaches in recent times show why that’s so dangerous. The 2015 attack on the Office of Personnel Management (OPM) saw thieves steal the intimate personal details of 21.5 million Americans. Last year’s Equifax hackers stole the personal information of nearly 150 million people — that’s half of the adult U.S. population. Among that data were peoples’ names, birthdates, home addresses, social security numbers and, in some cases, drivers’ license information. It was a disaster.


We rely on companies like this to store our data and then challenge us with it because there has been no way of proving ourselves without them. It’s an age-old system that worked in an analog world, but it is hopelessly inadequate in 2018. It just doesn’t scale.


Companies like Google and Facebook have tried to solve that problem by letting sites authenticate users using the accounts they have. But this method still leaves users lacking control and a breach of any of these larger companies can still compromise user’s identity at an even larger scale, pointed out ShoCard CEO Armin Ebrahimi.


“If your account at Facebook is locked down or compromised, then you lose that ID,” he said. “That's because the enterprise owns it.”


In any case, your local bank, traffic cop or bartender won’t take your Facebook ID as proof that you can withdraw cash, drive or buy a cocktail.


ShoCard offers an alternative: Use phones and decentralized networks instead. Instead of taking their chances with a company’s leaky servers, users can keep their data encrypted on their mobile devices. They can show portions of their identity to whoever needs it while keeping their data to themselves the rest of the time.


How can a third party be sure that the data on a user’s phone is legitimate? That’s where the blockchain comes in.


Individuals enter their credentials into the app, including everything from a scan of their drivers’ license to their passport and even their biometric data. Others can add data too with their permission, such as the digital equivalent of an airline boarding pass. The app then hashes these credentials and digitally signs them using the individual’s private keys and stores a digital fingerprint of the data (rather than the personal data itself) on the blockchain.


When third parties want to authenticate a user, they request the data, along with a code and the user’s public key from the ShoCard app. They then verify it against the digital certificate on the blockchain to prove that the user owns it.


Low-friction interactions are essential, said Ebrahimi. Online services can display a barcode for the user to scan from a website. Proximity services such as an airport gate could have a Bluetooth device handy to connect with the user’s phone, or an app that can scan data from it. He envisions a time when users can authenticate themselves to enter an airport lounge without breaking stride.


Ebrahimi highlighted another benefit for users. They only give a third party the data that it needs from them. The bank might get their name and address. The airline gate might just get a name and passport number. The local bartender just finds out their age.

While users get convenience, Ebrahimi expects that third parties will enjoy lower fraud rates and customer interaction costs.


“Authentication is a very lengthy and expensive process, and very fraud-prone,” he pointed out.


Call centers authenticating users on the phone lose money for every minute they spend asking security questions such as a user’s birthdate and address.


“These are also facts that hackers can get hold of,” Ebrahimi added.


Using ShoCard, a call center agent would take the user’s account number and then ping the app to verify it against the hashed digest on the blockchain, ensuring that it isn’t fake.

Cracking the ID management problem is a tall order, but ShoCard is in a unique position. Ebrahimi has 30 years of experience in Silicon Valley, and the company already has $5.4 million in combined funding from AME Cloud Ventures, led by Yahoo! founder Jerry Yang, and Morado Ventures. In May, it hopes to raise another $20 million with its initial coin offering (ICO).

This promoted article originally appeared on Bitcoin Magazine.

Lightning Network ‘Penalty Scenario’ Works in Old State Channel Incident

Hackers have been repeatedly probing Lightning Network (LN) via various attack vectors. The latest example of the network’s “penalty scenario,” though, came from a user who accidentally broadcast an old, invalid state channel.  Also see: Santander to Launch Payments App Backed by Ripple Tech Subscribe to the Bitsonline YouTube channel for more great interviews featuring industry insiders & […]

The post Lightning Network ‘Penalty Scenario’ Works in Old State Channel Incident appeared first on Bitsonline.

50% Bonus on USAT Token Purchases Until 31st March, 2018; USAT Inc. Uses Blockchain to Help Inventors Patent, Protect, and Develop Their IP

Celebrating the final weeks of its Pre-ICO, USAT Inc. is offering a very short-period promotion of 50% bonus on USAT token purchases before midnight 31st March 2018. Visit https://usat.io to take advantage of this great offer! The Australia-based USAT Inc. allows inventors to patent their ideas for a small fee in USAT Tokens and then store their idea on a private blockchain, protecting the creator from IP theft. Then, if the IP holder wants to

The post 50% Bonus on USAT Token Purchases Until 31st March, 2018; USAT Inc. Uses Blockchain to Help Inventors Patent, Protect, and Develop Their IP appeared first on Bitcoinist.com.

Crypto Exchange Pick Indicates the next Big Cryptocurrency

When cryptos are focused on platform/community development, everybody wins. It has long been said by many that the true value of any cryptocurrency should be placed more in its present and future potential function rather than temporary and relatively volatile hour-to-hour or day-to-day shifts in value. For diligent long-term investors, as well as active traders, … Continue reading Crypto Exchange Pick Indicates the next Big Cryptocurrency

The post Crypto Exchange Pick Indicates the next Big Cryptocurrency appeared first on NewsBTC.

How Paxful is Improving Financial Empowerment With Bitcoin in Underbanked Regions

In regions like the Philippines and India, remittance service providers dominate their respective finance industries due to the lack of affordable and efficient banking systems that accommodate local residents and citizens. Growing Remittance Market A study done by QZ revealed that the global remittance market is valued at $500 billion, with countries like India, China, … Continue reading How Paxful is Improving Financial Empowerment With Bitcoin in Underbanked Regions

The post How Paxful is Improving Financial Empowerment With Bitcoin in Underbanked Regions appeared first on NewsBTC.

Bigbom and Tomochain Sign Strategic Partnership Agreement

Bigbom is proud to announce that it has joined forces with Tomochain to form a long-term collaboration in startup acceleration. Tomochain is an innovative solution to the scalability problem with the Ethereum blockchain. They plan to support horizontal scaling via adding more second layer blockchains with good performance integrated with Ethereum for backup and atomic … Continue reading Bigbom and Tomochain Sign Strategic Partnership Agreement

The post Bigbom and Tomochain Sign Strategic Partnership Agreement appeared first on NewsBTC.

Broker NordFX Offers Unique Terms for Transactions with Crypto Currencies

Having been successful in gaining hold of the cryptocurrency market, the broker company NordFX continues to expand the range of services it offers in this field. The opportunity to trade highly volatile crypto-currencies on the world’s most widely used MetaTrader 4 platform has immediately become popular with NordFX clients, using a host of technical analysis … Continue reading Broker NordFX Offers Unique Terms for Transactions with Crypto Currencies

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China Rushing to Make Blockchain Mobile Phones Despite Confusion

Phone makers in China are rushing to bring blockchain mobile phones to market, but there is significant confusion on the technology itself. There are few things like new technology that gets companies scrambling to find some way to be part of the latest trend. Of course, the main reason is financial as they want to have a healthy portion of whatever revenue said new technology generates. Which is why many different companies are running to

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