For years, tech companies have touted blockchain technology as a means to develop identity systems that are secure and decentralized. The goal is to build a platform that could store information about official data without holding the actual documents or details themselves. Instead of just storing a scan of your birth certificate, for example, a decentralized ID platform might store a…
Tag: blockchain
How a 10-Second Video Clip Sold For $6.6 Million
In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million. Reuters reports: The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to certify who owns it…
Why an Animated Flying Cat With a Pop-Tart Body Sold for Almost $600,000
In the 10 years since Chris Torres created Nyan Cat, an animated flying cat with a Pop-Tart body leaving a rainbow trail, the meme has been viewed and shared across the web hundreds of millions of times. On Thursday, he put a one-of-a-kind version of it up for sale on Foundation, a website for buying and selling digital goods. In the…
270 Addresses Are Responsible for 55% of All Cryptocurrency Money Laundering
Criminals who keep their funds in cryptocurrency tend to launder funds through a small cluster of online services, blockchain investigations firm Chainalysis said in a report last week. From a report: This includes services like high-risk (low-reputation) crypto-exchange portals, online gambling platforms, cryptocurrency mixing services, and financial services that support cryptocurrency operations headquartered in high-risk jurisdictions. Criminal activity studied in this…
Cryptocurrency Magnate’s Plan to Turn 67,000 Acres into Blockchain-Based ‘Smart City’
“A cryptocurrency company that owns 67,000 acres in rural northern Nevada wants state government to grant technology companies power to form local governments on land they own,” reports the Associated Press. Jeffrey Berns, CEO of Nevada-based Blockchains LLC, ultimately envisions “a city where people not only purchase goods and services with digital currency but also log their entire online footprint —…
Darknet Crypto Kingpin JokerStash Retires After Illicit $1 Billion Run
The kingpin or kingpins of the world’s biggest illicit credit card marketplace have retired after making an estimated fortune of over $1 billion in cryptocurrency, according to research by blockchain analysis firm Elliptic shared with Reuters. From the report: The “Joker’s Stash” marketplace, where stolen credit cards and identity data traded hands for bitcoin and other digital coins, ceased operations this…
Bitcoin Consumes ‘More Electricity Than Argentina’
Thelasko shares a report from the BBC: Bitcoin uses more electricity annually than the whole of Argentina, analysis by Cambridge University suggests. ‘Mining’ for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions. Cambridge researchers say it consumes around 121.36 terawatt-hours (TWh) a year — and is unlikely to fall unless the value of the currency slumps. Critics say…
IBM Blockchain Is a Shell of Its Former Self After Revenue Misses, Job Cuts
Ian Allison, reporting at CoinDesk: IBM has cut its blockchain team down to almost nothing, according to four people familiar with the situation. Job losses at IBM escalated as the company failed to meet its revenue targets for the once-fÃted technology by 90% this year, according to one of the sources. “IBM is doing a major reorganization,” said a source at…
Reddit Joins With Ethereum Foundation To Build Scaling Tools
Reddit is growing its role in the Ethereum ecosystem, with the goal of building out scaling tools for the blockchain network. From a report: The social media platform announced this week that it was expanding its work with the Ethereum Foundation to provide development resources to scaling tools. In the announcement, posted to the Ethereum subreddit, Reddit employee u/jarins said the…
EFF, Cory Doctorow Warn About the Dangers of De-Platforming and Censorship
Last week Cory Doctorow shared his own answer for what Apple and Google should’ve done about Parler:
They should remove it, and tell users, “We removed Parler because we think it is a politically odious attempt to foment violence. Our judgment is subjective and may be wielded against others in future. If you don’t like our judgment, you shouldn’t use our app…