Cryptocurrency News With URL like www.zdnet.com

Singapore, Canada complete blockchain trial for cross-border payments - XRP not involved...
Monetary Authority of Singapore and Bank of Canada complete tests on cross-border payments using digital currencies, tapping distributed ledger technology with the aim to achieve faster, cheaper, and more secured transactions. By Eileen Yu for By The Way | May 3, 2019 -- 10:38 GMT (03:38 PDT) | Topic: Banking The Monetary Authority of Singapore (MAS) and Bank of Canada have completed "a successful experiment" on cross-border payments using central bank digital currencies, tapping distributed ledger technology or blockchain with the aim to achieve faster, cheaper, and more secured transactions. The two central banks also discuss their learnings in a report that suggests design options for cross-border settlement systems and details limitations of a technique used, called Hashed Time-Locked Contracts (HTLC). 

EU to adopt common identity repository with biometric data of EU and non EU citizens.
EU Parliament green-lights the creation of the Common Identity Repository (CIR), a gigantic biometrics database. By Catalin Cimpanu for Zero Day | April 22, 2019 -- 05:40 GMT (22:40 PDT) | Topic: Security The European Parliament voted last week to interconnect a series of border-control, migration, and law enforcement systems into a gigantic, biometrics-tracking, searchable database of EU and non-EU citizens. This new database will be known as the Common Identity Repository (CIR) and is set to unify records on over 350 million people. Per its design, CIR will aggregate both identity records (names, dates of birth, passport numbers, and other identification details) and biometrics (fingerprints and facial scans), and make its data available to all border and law enforcement authorities.

Europol arrests UK man for stealing ?10 million worth of IOTA cryptocurrency
Suspect operated the iotaseed.io portal that generated and secretly logged passwords for IOTA wallets. By Catalin Cimpanu for Zero Day | January 23, 2019 -- 17:32 GMT (09:32 PST) | Topic: Security Europol, German, and British authorities have announced today the arrest of a British national who they believe is behind the theft of more than 10 million ($11.4 million) worth of IOTA cryptocurrency. The man, whose name has not been released yet, is believed to be the main culprit behind a wave of IOTA thefts that occured in January 2018. According to reports from last year, the hacker, who used the nickname of "Norbertvdberg' while providing support online to other IOTA enthusiasts, set up the website iotaseed.io, which he advertised as a random seed (password) generator.

Coinbase files patent for freeze logic cryptocurrency wallet security | ZDNet
The invention aims to add a fresh layer of security to wallets used directly for merchant payments. By Charlie Osborne | August 20, 2018 -- 07:07 GMT (00:07 PDT) | Topic: Security Coinbase has filed a new patent which describes technology intended to improve the security of cryptocurrency wallets and also permit the secure, direct payment of cryptocurrencies to merchants. The cryptocurrency exchange's patent filing has been submitted to the United States Patent and Trademark Office (USPTO). Coinbase's patent application, number 10,050,779, says that "it may be a security concern for users that the private keys of their Bitcoin addresses may be stolen from their wallets, [and] existing systems do not provide a solution for maintaining security over private keys while still allowing the users to check out on a merchant page and making payments using their wallets."

Kodak announces the KodakCoin blockchain cryptocurrency | ZDNet
The KodakCoin cryptocurrency and the KodakOne rights management platform will both be backed by blockchain security, Kodak has announced. By Corinne Reichert | January 9, 2018 -- 20:10 GMT (12:10 PST) | Topic: Security Kodak has announced the launch of its KodakCoin cryptocurrency utilising blockchain security technology, which it said is aimed at enabling image rights management for photographers. "With KodakCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and, for both professional and amateur photographers, sell their work confidently on a secure blockchain platform," Kodak said.

Quantum Computing + Commercialization:
The Q System One has a modular design and parts designed to minimize interference. IBM's plan is to start scaling quantum computational center. By Larry Dignan | January 8, 2019 -- 17:13 GMT (09:13 PST) | Topic: CES 2019: The Big Trends for Business IBM's Q System One quantum computer IBM has launched an integrated system for quantum computing designed for scientists and businesses called IBM Q System One. The system will be unveiled at CES 2019 with a replica of Q System One. IBM added that it will open a commercial Q Quantum Computation Center in Poughkeepsie, New York this year. It is yet to be determined how many quantum systems will be housed in one center, said Bob Sutor, vice president of IBM Q Strategy & Ecosystems.

Coinbase to add Ethereum Classic to exchange within months | ZDNet
The price of Ethereum Classic has surged in response to the announcement. By Charlie Osborne | June 12, 2018 -- 07:39 GMT (00:39 PDT) | Topic: Blockchain Coinbase intends to add support to Ethereum Classic to its exchange "in the coming months." The cryptocurrency exchange said on Monday that the engineering work required to support the trade Ethereum Classic (ETC) is due to begin soon, and customers can expect to soon see public-facing APIs which will indicate the addition of the asset. In a blog post, Coinbase added that the final testing phases are expected to take place in the next few months.

Coinbase suspends Ethereum Classic (ETC) trading after double-spend attacks
Attackers carried out 11 double-spend attacks and stole nearly 88,500 ETC (~$460,000). By Catalin Cimpanu | January 7, 2019 -- 21:56 GMT (13:56 PST) | Topic: Security Cryptocurrency trading portal Coinbase delisted today the Ethereum Classic (ETC) currency after detecting a series of double-spend attacks over the last three days. In layman terms, double-spend attacks are when a malicious actor gains the majority computational power inside a blockchain, which they then use to enforce unauthorized transactions over legitimate ones. According to a security alert published today by Coinbase security engineer Mark Nesbitt, this is exactly what's been happening on the Ethereum Classic blockchain for the past three days, since January 5.

Opera for Android becomes an Ethereum 'blockchain browser' | ZDNet
Opera hopes to make cryptocurrency more than just a speculative asset. By Liam Tung | December 13, 2018 -- 10:08 GMT (02:08 PST) | Topic: Mobility Opera is betting on blockchain technology to reach new audiences keen on or curious about cryptocurrencies like bitcoin and Ethereum. The browser maker today announced that Opera for Android is a now a 'blockchain browser' with bolted-on access to the Ethereum blockchain that builds on its existing built-in cryptocurrency wallet. Opera rolled out a private beta of the Opera for Android crypto-wallet in July, which can be used to store Ethereum and access Ethereum-based decentralized apps, or 'Dapps'.

Hackers ramp up attacks on mining rigs before Ethereum price crashes into the gutter | ZDNet
Attackers scan for Ethereum wallets and mining rigs that have carelessly exposed port 8545 on the Internet. By Catalin Cimpanu | December 10, 2018 -- 23:06 GMT (15:06 PST) | Topic: Security Hackers have set off in motion a massive campaign that scans for Internet-exposed Ethereum wallets and mining equipment, ZDNet has learned today. The mass-scan campaign has been raging for at least a week, since December 3, Troy Mursch, co-founder of Bad Packets LLC told ZDNet. Attackers are scanning for devices with port 8545 exposed online. This is the standard port for the JSON-RPC interface of many Ethereum wallets and mining equipment. This interface is a programmatic API that locally-installed apps and services can query for mining and funds-related information.

[US Department of Homeland Security officials have] had great success with tracking and analyzing Bitcoin transactions already. They are now looking for similar solutions for tracking "privacy coins."
DHS has had great success with tracking and analyzing Bitcoin transactions already. They are now looking for similar solutions for tracking "privacy coins." By Catalin Cimpanu | December 7, 2018 -- 18:38 GMT (10:38 PST) | Topic: Security The US Department of Homeland Security (DHS) is interested in acquiring technology solutions that can track newer cryptocurrencies, such as Zcash and Monero. According to a pre-solicitation document [PDF], the DHS wants to know if this is possible, before filing an official solicitation request later down the line. The DHS said that "prior efforts have addressed Bitcoin analytics," but now the agency and the law enforcement agencies under its supervision are looking into similar cryptocurrency analytics solutions that can be used to track so-called privacy coins --cryptocurrencies that support anonymous transactions.

?South Korea to develop blockchain voting system
South Korea's Ministry of Science and ICT will develop a blockchain voting system that will go on trial in the private sector in December. By Cho Mu-Hyun | November 28, 2018 -- 04:40 GMT (20:40 PST) | Topic: Blockchain South Korea plans to develop a blockchain voting system, with trials starting next month in the private sector. The Ministry of Science and ICT, and the National Election Commission (NEC) said they will develop a blockchain-based online voting system by December. The NEC ran an online voting system, dubbed K-voting, back in 2013, which has since been used by 5.64 million people but trust in the voting system remains low due to hacking and fraud concerns.

Hacker backdoors popular JavaScript library to steal Bitcoin funds
Users of BitPay's Copay desktop and mobile wallet apps are affected. An update has been released earlier today that doesn't contain the malicious code. By Catalin Cimpanu | November 26, 2018 -- 20:31 GMT (12:31 PST) | Topic: Security A hacker has gained (legitimate) access to a popular JavaScript library and has injected malicious code that steals Bitcoin and Bitcoin Cash funds stored inside BitPay's Copay wallet apps. The presence of this malicious code was identified last week, but only today have researchers been able to understand what the heavily obfuscated malicious code actually does. The library loading the malicious code is named Event-Stream, a JavaScript npm package for working with Node.js streaming data.

In this country, your cryptocurrency must go through your bank
If you think your cryptocurrency is not being watched over by a central authority, think again. By Charlie Osborne | November 26, 2018 -- 14:29 GMT (06:29 PST) | Topic: Innovation When Bitcoin (BTC) took a firm hold on the imagination of the general public, the idea was entrenched as a means to seize the control of personal, financial assets away from centralized authorities. Decentralized, anonymized trading on the blockchain -- also known as distributed ledger technologies -- was touted as a means to keep a central group, such as a bank or corrupt government, from controlling the exchange of assets which had financial worth.

This one is bad....
Trojan also installs a rootkit and another strain of malware that can execute DDoS attacks. By Catalin Cimpanu | November 23, 2018 -- 19:19 GMT (11:19 PST) | Topic: Security Malware targeting Linux users may not be as widespread as the strains targeting the Windows ecosystem, but Linux malware is becoming just as complex and multi-functional as time passes by. The latest example of this trend is a new trojan discovered this month by Russian antivirus maker Dr.Web. This new malware strain doesn't have a distinctive name, yet, being only tracked under its generic detection name of Linux.BtcMine.174.

Switzerland-based loyalty program infrastructure company Momentum Protocol is creating a one-stop shop for consumers to earn, redeem, and manage their loyalty points on the blockchain.
Use the blockchain infrastructure to create holistic offers for your customers and optimise their experience -- even out of the store. By Eileen Brown | November 14, 2018 -- 18:42 GMT (10:42 PST) | Topic: Blockchain Switzerland-based loyalty program infrastructure company Momentum Protocol is creating a one-stop shop for consumers to earn, redeem, and manage their loyalty points on the blockchain. Momentum Protocol is an application that personalizes the retail ecosystem by partnering with businesses to provide good consumer experience. Also: Best Black Friday 2018 deals: Business Bargain Hunter's top picks

IoT security: Why it will get worse before it gets better
IoT brings opportunities but it also brings cyber security risks - some of which have barely been thought about. By Danny Palmer | November 7, 2018 -- 11:00 GMT (03:00 PST) | Topic: Security There are billions of connected devices in use around the world, in our homes, our offices, even inside our bodies as medical devices are connected to an ever-growing internet of things (IoT). Vendors rush to add to the range of devices available, with many looking to gain a hold in the market as quickly as possible, delivering cheap, easy-to-use devices into the hands of users. But this rush to market often comes at a cost, with cyber security often given little or no thought as manufacturers look to be the first to offer connected devices. That has often led to devices hitting the market and selling in large numbers of units, only to be discovered to be completely insecure.

Hackers breach StatCounter to hijack Bitcoin transactions on Gate.io exchange
StatCounter has fixed the issue and Gate.io has removed the script from its site. By Catalin Cimpanu | November 6, 2018 -- 16:54 GMT (08:54 PST) | Topic: Security Hackers have breached StatCounter, one of the internet's largest web analytics platforms, and have inserted malicious code inside the company's main site-tracking script. According to Matthieu Faou, the ESET malware researcher who discovered the hack, this malicious code hijacks any Bitcoin transactions made through the web interface of the Gate.io cryptocurrency exchange. "We contacted [StatCounter] but they haven't replied yet," Faou told ZDNet today in an email. "The JavaScript file at www.statcounter[.]com/counter/counter.js is still compromised."

?Is FOMO making enterprises unnecessarily leap into blockchain?
Gartner believes blockchain in its current level of maturity isn't appropriate for the enterprise. By Asha McLean | October 31, 2018 -- 23:09 GMT (16:09 PDT) | Topic: Digital Transformation Before beginning a blockchain or distributed ledger technology (DLT)-based project, analyst firm Gartner wants those making the decisions to take a look at the technology currently available, as it likely will do the job. How Blockchain Will Disrupt Business Blockchain has the potential to rewrite the economy and change the balance of power across industries. It also has specific uses for the enterprise. VP and Gartner fellow David Furlonger suggests steering clear of jumping on the blockchain bandwagon just yet, at least if it's just something an organisation is doing out of fear of missing out.

Swift partners with Microsoft Azure (just for informational purposes)
The companies are proving out a Microsoft Azure cloud-based solution for payments transfers conducted on the SWIFT network. By Asha McLean | October 22, 2018 -- 01:00 GMT (18:00 PDT) | Topic: Cloud SWIFT Chairman of the Board Yarwar Shah at Sibos in Sydney Microsoft has on Monday announced a partnership with SWIFT, hoping to facilitate the future deployment of the latter's messaging service in the cloud. Announced during day one of Sibos in Sydney, the pair of companies said they have conducted a cloud-native proof of concept to host SWIFT infrastructure and enable payment transfers on Microsoft Azure.

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