Monthly Archive: March 2019

Working Remotely For Crypto — Is it possible? 0

Working Remotely For Crypto — Is it possible?

Working Remotely For Crypto — Is it possible?

Marist and NPR have conducted a poll to determine how many jobs are held by a freelance. To their surprise, one out of five jobs in the US is taken by a freelance worker. According to their research, this could mean that we would see half of the workforce switching to freelance work by 2027 if the trend continues.

For more and more people, freelance income is their main source of income. We can find a global trend towards freelancing as people prefer to be in control, take on jobs they like, and determine when and where they work. In fact, more than 50% of the full-time freelancers states that they would not switch to a traditional job despite the wage offered

On the other side, freelancers are stuck with unfair platforms like UpWork, Freelancer.com, PeoplePerHour, etc. For most platforms, freelancers are required to bid, the lower you bet the better your chances are you win the job. For most freelancers, this feels like exploiting them as cheap gig workers. Added to that, they have to compete with bids from lower-income countries which makes it even more difficult to land a gig.

Also, receiving the promised money for your hard work is not always as easy as it seems. These freelance platforms are tailored for onboarding employers as they have the money. This implies that employers are always favored as they are the key customer for a freelance platform and giving them revenue. It happens a conflict gets ruled in favor of the customer, even if it’s their fault.

At last, fees on such bidding freelance websites can be as high as 20% which is a ridiculous amount of money for just acting as a bridge between service buyer and provider.

In short, unlike a free market, control is in the hands of bidding sites and their own interests. Let’s take a look at the alternatives our crypto space has to offer.

Gitcoin for Developers

Gitcoin is a platform for freelancers and anyone who loves working on blockchain related issues like writing a technical article, finding bugs in a smart contract, developing integrations, etc. The platform itself is focused open source projects that need help with certain tasks or just want to outsource work to true experts.

As a freelancer, you can claim any bounty and directly talk with the employer. If the employer agrees, he assigns you the bounty. The nice thing is that the price is fixed for the task and paid in crypto.

The mission of Gitcoin is to provide hard-working developers on open source projects a way to get paid for their contributions and grow the open source project.

One thing that you will notice after exploring Gitcoin is that there is no token for the Gitcoin ecosystem. Any ERC20 token can be used as a payment method for a new Gitcoin bounty.

Ethlance — Work for Ether

According to District0x, the creators of Ethlance, Ethlance allows users to create an employer profile, list and apply for open positions, rank and provide feedback for employers, and to send/receive invoices.

The cool thing is that Ethlance is not charging fees, however, users have to pay the gas costs related to broadcasting updates like invoices, posts, or messages.

Besides that, the full source code of Ethlance can be found on Github under the District0x repository. Their Github states that “Ethlance’s front-end source files are written in Clojurescript and served via IPFS. Ethlance’s backend logic is governed by 14 smart contracts deployed on the Ethereum MainNet.”

The only disadvantage we could find is that it only provides the platform for allowing freelancers to get paid with crypto, however, they do not have a dispute resolution system or any tracking of payments as that’s informally agreed between employer and freelancer. Tip: Always check if the employer has sufficient balance for the task he put up.

Ethlance Dashboard

Blocklancer

At Blocklancer, whoever holds the LNC token (Blocklancer native token) is reserved a spot in the so-called tribunal. This tribunal helps to resolve conflicts between freelancers and their customers. Holding the native token gives you the decision right to vote on the dispute. The benefit of this approach is that freelancers can rely on a decentralized dispute resolution system.

At Blocklancer, a 3% fee is collected when a gig has been completed. This fee is equally distributed among token holders.

Cryptotask — Decentralized Freelancing Market

Cryptotask uses smart contracts on the Ethereum network to operate their freelancing platform. In Q4 of 2018, they decided to connect with Hedera Hashgraph who provide blockchain technology tailored for high transaction throughput due to its tangle (DAG technology). Besides that, it also gave Crytpotask the opportunity to lower transactions fees and improve the overall security of the platform.

The resolution system consists of decentralized reviewers who are returned dividend payouts for their contributions. The major benefit is that everything happens within the platform, no need for 3rd party contractors to act as a dispute resolution system.

Cryptohire — Developer for Hire

Cryptohire is a marketplace that focuses on the niche of blockchain developers like Ethereum, Interledger, Hyperledger, Bitcoin, etc. The aim to offer a pool of blockchain expert that can assist in blockchain related projects. For a blockchain project, the benefit is that Cryptohire vets every expert and doing so, saves clients a lot of time finding the right people.

Besides that, Cryptohire also takes care of the paperwork and management. On the other side, when signing a contract via Cryptohire, you are not allowed to take on any other gig. However, it’s not a big issue as most jobs on the platform include full-time work.

CryptocurrencyJobs.co

Cryptocurrencyjobs.co has been built to be the leading portal for long-term freelance jobs for vetted crypto projects. The type of jobs you find here are mostly research and engineering related, some marketing and communications roles can be found as well. The nice thing about the website is that it doesn’t scrape other websites to get their data as the website claims the jobs are ‘hand-curated’.

Reddit

Of course, if you are really desperate, you can find your relief in Reddit where you have subreddits like /r/Jobs4Bitcoins/. These subreddits offer very small gigs in return for some Bitcoin. Many similar boards exist for other coins as well.

The Bottom Line

Several options exist for earning cryptocurrency as a freelancer. Most of the crypto freelance platforms are occupied by blockchain projects which can be an issue for freelancers who don’t know much about the technology. I believe the market still needs to grow to find a larger variety of services asked and offered on crypto freelance platforms. Also, more clarity is needed regarding declaring taxes for cryptocurrency incomes.


Working Remotely For Crypto — Is it possible? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

How to Send and Receive Data, Payments, and More Using Ultrasonic Technology 0

How to Send and Receive Data, Payments, and More Using Ultrasonic Technology

How to Send and Receive Data, Payments, and More Using Ultrasonic Technology.

Discover Data & Payments at the Speed of Sound

The adoption of mobile payments is on the rise. In fact, the majority of smartphone owners, 78%, have made a purchase using their mobile device. However, traditional mobile payment methods are lacking in critical security needed to protect sensitive payment information.

Is there a more secure way to transmit payment data than traditional mobile payment methods? The answer lies within ultrasonic technology.

The LISNR® Ultrasonic Data Platform: How does it work?

A customer initiates a mobile payment using their mobile device, for example buying something at the department store. Through LISNR’s technology, ultrasonic data transmission occurs, enabling secure bi-communication between the mobile device and the point-of-sale payment terminal via speaker or microphone.

Audible or inaudible tones, depending on use case, send encrypted data between devices to create secure communication. LISNR uses KAB® or Kilo Audio Bit, complete with a throughput of 1,000 bit-per-second to send data over audio across bandwidths. Each audio tone has three parts: the Preamble, the Header, and the Payload.

  • Preamble: The tone preamble announces the presence of a tone to begin SDK demodulation.
  • Header: The header contains metadata about the payload and security logic.
  • Payload: The payload is the actual data-containing portion of the tone.

LISNR’s development kit allows devices to utilize ultrasonic sound technologies on various platforms, enabling tone modulation and demodulation. LISNR currently supports platforms such as:

  • Android
  • iOS
  • Linux
  • Windows
  • Python
  • Raspberry Pi
  • Amazon Alexa
  • macOS

This is the actual sample code from our Linux SDK documentation:

You can find other sample codes via GitHub here.

Behind the scenes, LISNR offers two different approaches to security when completing payments using ultrasonic sound, RSA-encrypted payload and TLS 1.2.

Bi-Directional Ultrasonic Payments vs. Traditional Mobile Payment Solutions

LISNR’s ultrasonic technology is a secure medium that enables retailers, merchants and card networks to create a secure payment experience that’s possibly the most secure way to pay. How? LISNR’s ultrasonic payment solution is the first bi-directional exchange that can send a confirmation back, while all other methods are unidirectional.

Existing payment solutions such as EMV, swiped card and NFC are all mostly unidirectional and cannot create an off-line handshake. Instead, they’re sending their data into the cloud which increases the potential risk of payment data being exposed.

Ultrasonic technology uses sound to transmit credit card information without interception or data recording. The handshake is done locally between the two devices, without ever connecting online. A local handshake allows retailers to add additional factors without exposing the handshake to the cloud via tokenized and encrypted credit card data, proximity data, biometric information and more.

The resulting handshake includes multiple authentication factors, resulting in greater security when compared to traditional unidirectional payment technologies.

How Do Ultrasonic Payments Work?

The LISNR bi-directional prototype bridges the last gap between the client and the merchant when a payment is made. Where sensitive payment credentials are being shared, we perform the exchange with similar levels of security already available, such as TLS (Transport Layer Security).

RSA-Encrypted Payload Prototype

In the RSA-encrypted payload prototype, the mobile device creates a data message containing credit card data and encrypts it with the terminal’s public RSA key. The data is then broadcast and received by the payment terminal, the only device that can decrypt the message.

After decrypting the data, the server responds with a ServerDone message, which can also be used to convey an error in the transfer. This prototype boasts high levels of security because only the server can decrypt the critical payment data. Plus, it’s fast.

TLS 1.2 Prototype

In the TLS, or transport layer security, 1.2 prototype, a full handshake and data transfer is performed. A handshake is described as a communication between the mobile device and the terminal that determines the ciphersuite used to encrypt the communication. Verification of the server takes place and a secure connection is established before the transfer of data occurs.

The TLS 1.2 is an industry-accepted protocol without a data limit. The handshake can’t be replayed, making it completely secure.

What’s the Main Difference Between RSA and TLS?

When using the RSA protocol, implementation requires the RSA keys to be exchanged beforehand, which will require advance planning. The TLS protocol includes a key exchange so the two clients can communicate. As a result, TLS takes longer to complete.

Using LISNR’s bi-directional ultrasonic solution, both customer and critical business data are protected. Mobile device to server communication is encrypted, further securing customer credit card information on any mobile device with a speaker.

Now You Too Can Create a More Secure Way to Pay

Through LISNR’s bi-directional ultrasonic sound payment solution and software working as an enabler, end users can integrate LISNR’s ultrasonic proximity platform to create the most secure way to accept mobile payments. To learn more about LISNR’s bi-directional solution, get in touch with us.

About Ethan Tyink

Ethan Tyink, Embedded Engineer at LISNR

Ethan completed his undergraduate degree at Purdue in Computer Science and his master’s degree from the University of Cincinnati also in CS with a focus on cybersecurity and embedded systems. He is a Full-Stack generalist specialized in Cyber Security and has been an embedded engineer with LISNR since leaving Northrop Grumman in 2018. He works with C++/C, Objective-C, Java, Perl, Python. Reach out if you share some of his areas of interest around Mobile App Security, Malware Reverse Engineering, Malware detection and prevention, Cryptography Network Security, Embedded Systems and Distributed Systems.

ABOUT LISNR®

LISNR® is data at the speed of sound. LISNR® powers seamless payment experiences, connecting the online to offline customer journey with the most advanced Ultrasonic Data Platform. This is achieved via a secure and scalable software solution that sends micro-communications using sound between devices on standard speakers and microphones.

Data at the speed of sound.

Today, Visa, Jaguar Land Rover, Ticketmaster, and the US Government trust our solution to power data transmission between connected devices. Founded in 2012, LISNR® has offices in Oakland, CA and Cincinnati, OH. Major investors include Visa, Intel, Jump Capital, R/GA, and Synchrony Financial.

Learn more at LISNR.com/resources/developers


How to Send and Receive Data, Payments, and More Using Ultrasonic Technology was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray 0

Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray

Social Media Giants Enter The Crypto Game

Social media companies always seem to be the first to jump on new technologies, just look at Facebook’s acquisition of Oculus. This time, it seems that this subset of the technology industry is going all-in on crypto assets and blockchain technologies in a bid to up its bottom line.

According to RNS, a Russian news agency, Eurasian social media giant Vkontakte, better known as VK, is looking into launching its own digital asset. RNS cites a source familiar with VK’s matters. The outlet explains that the insider, classified as a “he,” explains that the proposed system will allow users of the platform to accumulate the digital currency while they use the platform as normal.

A slide deck obtained by RNS purportedly shows a system that allows the digital asset to get paid out for a user’s time spent in the Vkontakte ecosystem. The asset can also be paid out through likes, shares, reposts/reblogs, and other forms of engagement on media. The cryptocurrency then can be transferred to other VK profiles, exchanged for real-life goods, and even converted into VK Pay, a pseudo-PayPal run by the aforementioned company.

While Vkontakte representatives were unable to comment on the matter, many crypto pundits are hopeful for the offering, that will open up dozens of millions of Russians to this economy (in spite of a skeptical government).

Funnily enough, this comes as Facebook has moved one step closer to launching another digital asset, dubbed “FBCoin.” As reported by BlockGeeks previously, this venture, one of the biggest technology firms in the world, will purportedly first take the form of a WhatsApp-based, USD-backed stablecoin targeted at India’s ~200 million users, as there is a growing need for low-cost, rapid, and easy-to-use remittance transactions. According to the Wall Street Journal, five insiders of the project claim that Facebook has held conversations with presumably notable, regulated, and respected cryptocurrency exchanges, meaning that the asset may be launched in the near future.

Facebook has also embraced blockchain technologies for other purposes. Per previous reports from BlockGeeks, Zuck claimed that account authentication is a blockchain use case he is “potentially interested in.” He claimed that if this project comes to fruition, it would replace Facebook Connect, allowing individuals to determine what apps and partners can access their personal data in a decentralized manner.

Instant messaging platform Telegram, too, has plans to launch its own cryptocurrency. The venture, called the Telegram Open Network (TON), is purportedly 90% complete, according to investor documents obtained by The Block. It isn’t clear exactly what TON will do, but the project raised a purported $2 billion during the peak of the 2017-2018 hype cycle, and could be just on the verge of launching to millions worldwide.

Wall Street Wants In On The Pie Too

Of course, all this has arguably been dwarfed by what JP Morgan has managed to do for itself. For those who missed the memo, the Wall Street institutions launched a digital asset this year on Quorum, a private version of Ethereum that JP Morgan has taken a liking to. The asset will first primarily be used for in-company transactions, allowing the firm to transfer a portion of its billions of cross-border transactions through the U.S.-tied stablecoin. Eventually, however, chief executive Jamie Dimon & Co. intend to bring the venture to a public audience, as it looks to make day-to-day transactions more efficient, but in a controversial manner.

Photo by William Hook on Unsplash

The post Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray appeared first on Blockgeeks.

Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray 0

Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray

Social Media Giants Enter The Crypto Game

Social media companies always seem to be the first to jump on new technologies, just look at Facebook’s acquisition of Oculus. This time, it seems that this subset of the technology industry is going all-in on crypto assets and blockchain technologies in a bid to up its bottom line.

According to RNS, a Russian news agency, Eurasian social media giant Vkontakte, better known as VK, is looking into launching its own digital asset. RNS cites a source familiar with VK’s matters. The outlet explains that the insider, classified as a “he,” explains that the proposed system will allow users of the platform to accumulate the digital currency while they use the platform as normal.

A slide deck obtained by RNS purportedly shows a system that allows the digital asset to get paid out for a user’s time spent in the Vkontakte ecosystem. The asset can also be paid out through likes, shares, reposts/reblogs, and other forms of engagement on media. The cryptocurrency then can be transferred to other VK profiles, exchanged for real-life goods, and even converted into VK Pay, a pseudo-PayPal run by the aforementioned company.

While Vkontakte representatives were unable to comment on the matter, many crypto pundits are hopeful for the offering, that will open up dozens of millions of Russians to this economy (in spite of a skeptical government).

Funnily enough, this comes as Facebook has moved one step closer to launching another digital asset, dubbed “FBCoin.” As reported by BlockGeeks previously, this venture, one of the biggest technology firms in the world, will purportedly first take the form of a WhatsApp-based, USD-backed stablecoin targeted at India’s ~200 million users, as there is a growing need for low-cost, rapid, and easy-to-use remittance transactions. According to the Wall Street Journal, five insiders of the project claim that Facebook has held conversations with presumably notable, regulated, and respected cryptocurrency exchanges, meaning that the asset may be launched in the near future.

Facebook has also embraced blockchain technologies for other purposes. Per previous reports from BlockGeeks, Zuck claimed that account authentication is a blockchain use case he is “potentially interested in.” He claimed that if this project comes to fruition, it would replace Facebook Connect, allowing individuals to determine what apps and partners can access their personal data in a decentralized manner.

Instant messaging platform Telegram, too, has plans to launch its own cryptocurrency. The venture, called the Telegram Open Network (TON), is purportedly 90% complete, according to investor documents obtained by The Block. It isn’t clear exactly what TON will do, but the project raised a purported $2 billion during the peak of the 2017-2018 hype cycle, and could be just on the verge of launching to millions worldwide.

Wall Street Wants In On The Pie Too

Of course, all this has arguably been dwarfed by what JP Morgan has managed to do for itself. For those who missed the memo, the Wall Street institutions launched a digital asset this year on Quorum, a private version of Ethereum that JP Morgan has taken a liking to. The asset will first primarily be used for in-company transactions, allowing the firm to transfer a portion of its billions of cross-border transactions through the U.S.-tied stablecoin. Eventually, however, chief executive Jamie Dimon & Co. intend to bring the venture to a public audience, as it looks to make day-to-day transactions more efficient, but in a controversial manner.

Photo by William Hook on Unsplash

The post Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray appeared first on Blockgeeks.

Working Remotely For Crypto — Is it possible? 0

Working Remotely For Crypto — Is it possible?

Working Remotely For Crypto — Is it possible?

Marist and NPR have conducted a poll to determine how many jobs are held by a freelance. To their surprise, one out of five jobs in the US is taken by a freelance worker. According to their research, this could mean that we would see half of the workforce switching to freelance work by 2027 if the trend continues.

For more and more people, freelance income is their main source of income. We can find a global trend towards freelancing as people prefer to be in control, take on jobs they like, and determine when and where they work. In fact, more than 50% of the full-time freelancers states that they would not switch to a traditional job despite the wage offered

On the other side, freelancers are stuck with unfair platforms like UpWork, Freelancer.com, PeoplePerHour, etc. For most platforms, freelancers are required to bid, the lower you bet the better your chances are you win the job. For most freelancers, this feels like exploiting them as cheap gig workers. Added to that, they have to compete with bids from lower-income countries which makes it even more difficult to land a gig.

Also, receiving the promised money for your hard work is not always as easy as it seems. These freelance platforms are tailored for onboarding employers as they have the money. This implies that employers are always favored as they are the key customer for a freelance platform and giving them revenue. It happens a conflict gets ruled in favor of the customer, even if it’s their fault.

At last, fees on such bidding freelance websites can be as high as 20% which is a ridiculous amount of money for just acting as a bridge between service buyer and provider.

In short, unlike a free market, control is in the hands of bidding sites and their own interests. Let’s take a look at the alternatives our crypto space has to offer.

Gitcoin for Developers

Gitcoin is a platform for freelancers and anyone who loves working on blockchain related issues like writing a technical article, finding bugs in a smart contract, developing integrations, etc. The platform itself is focused open source projects that need help with certain tasks or just want to outsource work to true experts.

As a freelancer, you can claim any bounty and directly talk with the employer. If the employer agrees, he assigns you the bounty. The nice thing is that the price is fixed for the task and paid in crypto.

The mission of Gitcoin is to provide hard-working developers on open source projects a way to get paid for their contributions and grow the open source project.

One thing that you will notice after exploring Gitcoin is that there is no token for the Gitcoin ecosystem. Any ERC20 token can be used as a payment method for a new Gitcoin bounty.

Ethlance — Work for Ether

According to District0x, the creators of Ethlance, Ethlance allows users to create an employer profile, list and apply for open positions, rank and provide feedback for employers, and to send/receive invoices.

The cool thing is that Ethlance is not charging fees, however, users have to pay the gas costs related to broadcasting updates like invoices, posts, or messages.

Besides that, the full source code of Ethlance can be found on Github under the District0x repository. Their Github states that “Ethlance’s front-end source files are written in Clojurescript and served via IPFS. Ethlance’s backend logic is governed by 14 smart contracts deployed on the Ethereum MainNet.”

The only disadvantage we could find is that it only provides the platform for allowing freelancers to get paid with crypto, however, they do not have a dispute resolution system or any tracking of payments as that’s informally agreed between employer and freelancer. Tip: Always check if the employer has sufficient balance for the task he put up.

Ethlance Dashboard

Blocklancer

At Blocklancer, whoever holds the LNC token (Blocklancer native token) is reserved a spot in the so-called tribunal. This tribunal helps to resolve conflicts between freelancers and their customers. Holding the native token gives you the decision right to vote on the dispute. The benefit of this approach is that freelancers can rely on a decentralized dispute resolution system.

At Blocklancer, a 3% fee is collected when a gig has been completed. This fee is equally distributed among token holders.

Cryptotask — Decentralized Freelancing Market

Cryptotask uses smart contracts on the Ethereum network to operate their freelancing platform. In Q4 of 2018, they decided to connect with Hedera Hashgraph who provide blockchain technology tailored for high transaction throughput due to its tangle (DAG technology). Besides that, it also gave Crytpotask the opportunity to lower transactions fees and improve the overall security of the platform.

The resolution system consists of decentralized reviewers who are returned dividend payouts for their contributions. The major benefit is that everything happens within the platform, no need for 3rd party contractors to act as a dispute resolution system.

Cryptohire — Developer for Hire

Cryptohire is a marketplace that focuses on the niche of blockchain developers like Ethereum, Interledger, Hyperledger, Bitcoin, etc. The aim to offer a pool of blockchain expert that can assist in blockchain related projects. For a blockchain project, the benefit is that Cryptohire vets every expert and doing so, saves clients a lot of time finding the right people.

Besides that, Cryptohire also takes care of the paperwork and management. On the other side, when signing a contract via Cryptohire, you are not allowed to take on any other gig. However, it’s not a big issue as most jobs on the platform include full-time work.

CryptocurrencyJobs.co

Cryptocurrencyjobs.co has been built to be the leading portal for long-term freelance jobs for vetted crypto projects. The type of jobs you find here are mostly research and engineering related, some marketing and communications roles can be found as well. The nice thing about the website is that it doesn’t scrape other websites to get their data as the website claims the jobs are ‘hand-curated’.

Reddit

Of course, if you are really desperate, you can find your relief in Reddit where you have subreddits like /r/Jobs4Bitcoins/. These subreddits offer very small gigs in return for some Bitcoin. Many similar boards exist for other coins as well.

The Bottom Line

Several options exist for earning cryptocurrency as a freelancer. Most of the crypto freelance platforms are occupied by blockchain projects which can be an issue for freelancers who don’t know much about the technology. I believe the market still needs to grow to find a larger variety of services asked and offered on crypto freelance platforms. Also, more clarity is needed regarding declaring taxes for cryptocurrency incomes.


Working Remotely For Crypto — Is it possible? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray 0

Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray

Social Media Giants Enter The Crypto Game

Social media companies always seem to be the first to jump on new technologies, just look at Facebook’s acquisition of Oculus. This time, it seems that this subset of the technology industry is going all-in on crypto assets and blockchain technologies in a bid to up its bottom line.

According to RNS, a Russian news agency, Eurasian social media giant Vkontakte, better known as VK, is looking into launching its own digital asset. RNS cites a source familiar with VK’s matters. The outlet explains that the insider, classified as a “he,” explains that the proposed system will allow users of the platform to accumulate the digital currency while they use the platform as normal.

A slide deck obtained by RNS purportedly shows a system that allows the digital asset to get paid out for a user’s time spent in the Vkontakte ecosystem. The asset can also be paid out through likes, shares, reposts/reblogs, and other forms of engagement on media. The cryptocurrency then can be transferred to other VK profiles, exchanged for real-life goods, and even converted into VK Pay, a pseudo-PayPal run by the aforementioned company.

While Vkontakte representatives were unable to comment on the matter, many crypto pundits are hopeful for the offering, that will open up dozens of millions of Russians to this economy (in spite of a skeptical government).

Funnily enough, this comes as Facebook has moved one step closer to launching another digital asset, dubbed “FBCoin.” As reported by BlockGeeks previously, this venture, one of the biggest technology firms in the world, will purportedly first take the form of a WhatsApp-based, USD-backed stablecoin targeted at India’s ~200 million users, as there is a growing need for low-cost, rapid, and easy-to-use remittance transactions. According to the Wall Street Journal, five insiders of the project claim that Facebook has held conversations with presumably notable, regulated, and respected cryptocurrency exchanges, meaning that the asset may be launched in the near future.

Facebook has also embraced blockchain technologies for other purposes. Per previous reports from BlockGeeks, Zuck claimed that account authentication is a blockchain use case he is “potentially interested in.” He claimed that if this project comes to fruition, it would replace Facebook Connect, allowing individuals to determine what apps and partners can access their personal data in a decentralized manner.

Instant messaging platform Telegram, too, has plans to launch its own cryptocurrency. The venture, called the Telegram Open Network (TON), is purportedly 90% complete, according to investor documents obtained by The Block. It isn’t clear exactly what TON will do, but the project raised a purported $2 billion during the peak of the 2017-2018 hype cycle, and could be just on the verge of launching to millions worldwide.

Wall Street Wants In On The Pie Too

Of course, all this has arguably been dwarfed by what JP Morgan has managed to do for itself. For those who missed the memo, the Wall Street institutions launched a digital asset this year on Quorum, a private version of Ethereum that JP Morgan has taken a liking to. The asset will first primarily be used for in-company transactions, allowing the firm to transfer a portion of its billions of cross-border transactions through the U.S.-tied stablecoin. Eventually, however, chief executive Jamie Dimon & Co. intend to bring the venture to a public audience, as it looks to make day-to-day transactions more efficient, but in a controversial manner.

Photo by William Hook on Unsplash

The post Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray appeared first on Blockgeeks.

Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray 0

Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray

Social Media Giants Enter The Crypto Game

Social media companies always seem to be the first to jump on new technologies, just look at Facebook’s acquisition of Oculus. This time, it seems that this subset of the technology industry is going all-in on crypto assets and blockchain technologies in a bid to up its bottom line.

According to RNS, a Russian news agency, Eurasian social media giant Vkontakte, better known as VK, is looking into launching its own digital asset. RNS cites a source familiar with VK’s matters. The outlet explains that the insider, classified as a “he,” explains that the proposed system will allow users of the platform to accumulate the digital currency while they use the platform as normal.

A slide deck obtained by RNS purportedly shows a system that allows the digital asset to get paid out for a user’s time spent in the Vkontakte ecosystem. The asset can also be paid out through likes, shares, reposts/reblogs, and other forms of engagement on media. The cryptocurrency then can be transferred to other VK profiles, exchanged for real-life goods, and even converted into VK Pay, a pseudo-PayPal run by the aforementioned company.

While Vkontakte representatives were unable to comment on the matter, many crypto pundits are hopeful for the offering, that will open up dozens of millions of Russians to this economy (in spite of a skeptical government).

Funnily enough, this comes as Facebook has moved one step closer to launching another digital asset, dubbed “FBCoin.” As reported by BlockGeeks previously, this venture, one of the biggest technology firms in the world, will purportedly first take the form of a WhatsApp-based, USD-backed stablecoin targeted at India’s ~200 million users, as there is a growing need for low-cost, rapid, and easy-to-use remittance transactions. According to the Wall Street Journal, five insiders of the project claim that Facebook has held conversations with presumably notable, regulated, and respected cryptocurrency exchanges, meaning that the asset may be launched in the near future.

Facebook has also embraced blockchain technologies for other purposes. Per previous reports from BlockGeeks, Zuck claimed that account authentication is a blockchain use case he is “potentially interested in.” He claimed that if this project comes to fruition, it would replace Facebook Connect, allowing individuals to determine what apps and partners can access their personal data in a decentralized manner.

Instant messaging platform Telegram, too, has plans to launch its own cryptocurrency. The venture, called the Telegram Open Network (TON), is purportedly 90% complete, according to investor documents obtained by The Block. It isn’t clear exactly what TON will do, but the project raised a purported $2 billion during the peak of the 2017-2018 hype cycle, and could be just on the verge of launching to millions worldwide.

Wall Street Wants In On The Pie Too

Of course, all this has arguably been dwarfed by what JP Morgan has managed to do for itself. For those who missed the memo, the Wall Street institutions launched a digital asset this year on Quorum, a private version of Ethereum that JP Morgan has taken a liking to. The asset will first primarily be used for in-company transactions, allowing the firm to transfer a portion of its billions of cross-border transactions through the U.S.-tied stablecoin. Eventually, however, chief executive Jamie Dimon & Co. intend to bring the venture to a public audience, as it looks to make day-to-day transactions more efficient, but in a controversial manner.

Photo by William Hook on Unsplash

The post Following JP Morgan’s And Facebook’s Crypto Ventures, VKontakte Joins The Fray appeared first on Blockgeeks.

Kleiman Estate Says Satoshi Reveal ‘Is Relevant’ in Billion Dollar Bitcoin Lawsuit 0

Kleiman Estate Says Satoshi Reveal ‘Is Relevant’ in Billion Dollar Bitcoin Lawsuit

In the state of Florida, there’s an ongoing lawsuit against Craig Wright, the self-proclaimed Satoshi Nakamoto, for billions of dollars. Wright is being sued by the Kleiman family on behalf of the late Dave Kleiman for allegedly misappropriating billions worth of BTC through a partnership years ago. On March 29, the Kleiman vs. Wright discovery meeting transcript was published revealing more interesting details about this unique case.

Also read: Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright

The Billion Dollar Bitcoin Lawsuit Continues With a Discovery Meeting

According to Ira Kleiman, his brother David’s inheritance was allegedly manipulated during a multi-year partnership with Australian native Craig Wright. On Valentine’s Day last year, a case was filed against Wright in Florida which accused him of defrauding Kleiman out of an assumed 1.1 million BTC stash. The lawsuit has continued into 2019, after Wright’s legal counsel attempted to get the case dismissed only for Florida district Judge Beth Bloom to deny the defendant’s dismissal. This week, on March 29, the court’s discovery meeting transcript was released which explains that Wright and Kleiman’s partnership was very complicated. Wright is scheduled to be deposed under oath by Kleiman’s lawyers on Thursday, April 4.

The discovery meeting reveals some fascinating aspects in regard to one of the most compelling Bitcoin-related lawsuits to date. For instance, during the proceedings, the court asked Wright’s legal counsel whether he did or did not collaborate with Kleiman in the development of Bitcoin. Wright’s attorneys replied by saying: “It is Dr. Wright’s position, your Honor, that Dave Kleiman assisted in editing the protocol related to Bitcoin but did not create Bitcoin.” The judge then asked the defendant’s counsel if Wright and Kleiman jointly mined bitcoin and co-owned any cryptocurrencies. The lawyer detailed that Wright’s position is that he never mined bitcoin with Kleiman nor did any co-owned bitcoin exist. Additionally, Wright’s attorney asserted that Kleiman had no legal rights to intellectual property associated with Bitcoin or the Bitcoin protocol.

Parsing Through Thousands of Documents

The judge and the two disputing parties also discussed Wright’s issues with the Australian Tax Office (ATO), which explained that the ATO was and still might be investigating Wright and Kleiman’s collaboration. The lawyer representing the Kleiman estate stated that the plaintiffs were contacted by the ATO while conducting an investigation to find out whether there was information the Kleimans had for corroborating evidence on the matter. Further, the discovery transcript reveals that the late David Kleiman left a significant trail of documents behind which may pertain to the lawsuit. The two disputing parties are parsing through thousands of documents that belonged to David Kleiman, his brother Ira, and the business W&K Info Defense Research. This includes documents that stem from a number of electronic devices, computers, phones, hard drives, encrypted chats, and emails that belonged to Kleiman.

Submitted evidence from the Kleiman estate that allegedly shows Wright promising certain assets to Dave’s heirs.

Kleiman’s Legal Counsel: ‘The Satoshi Nakamoto Story Is Relevant’

Toward the end of the discovery hearing, the parties also discussed the Satoshi Nakamoto moniker and how Wright claimed to be the creator of Bitcoin but failed to provide evidence. Kleiman’s lawyer explained how Andrew O’Hagan, the famous London Review of Books author who wrote an article called “The Satoshi Affair,” had hours of Wright discussing how he invented Bitcoin. The entire story between O’Hagan and Wright makes the plaintiffs believe that Wright came out saying he was Satoshi for “celebrity status” and to “sell his intellectual property that Satoshi Nakamoto created for billions of dollars.” The Kleimans think the Satoshi story is “relevant” to the proceedings and that the late David Kleiman was very much involved in a partnership with Wright involving Bitcoin.

“So the plaintiffs’ position is that admissions with regard to who owned the intellectual property created by Satoshi Nakamoto and the story of Satoshi Nakamoto are relevant to the case because it is plaintiffs’ theory that Satoshi Nakamoto is the name of a partnership between Craig Wright and Dave Kleiman,” explained the Kleiman estate’s lawyer.

In addition to the Wright deposition scheduled for April 4, Ira Kleiman will be deposed as well. After the depositions, the court will reconvene to discuss the matters and come back with any follow up. The judge also gave the plaintiff’s counsel permission to ask Wright about the communications with O’Hagan in order to proportionate the findings. The entire case between Wright and Kleiman goes beyond any scope of all the other high profile BTC cases so far because it involves the creation of Bitcoin itself. Moreover, the lawsuit started many years after Ira Kleiman became his brother’s beneficiary when Dave died from a rough battle with MRSA. The Kleiman vs. Wright case is thought provoking because whatever way it settles, some believe it will either provide answers or even more questions to the Satoshi Nakamoto mystery. So far, Wright has failed to convince the greater Bitcoin community that he is the creator of Bitcoin and has yet to provide any cryptographic evidence.

What do you think about the Kleiman vs. Wright legal battle? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Pixabay, Wiki Commons, Court Listener, and Pacer.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Kleiman Estate Says Satoshi Reveal ‘Is Relevant’ in Billion Dollar Bitcoin Lawsuit appeared first on Bitcoin News.

Exclusive: Crypto Founder Lashes Out, Blames SEC for ‘Starving’ Innovation 0

Exclusive: Crypto Founder Lashes Out, Blames SEC for ‘Starving’ Innovation

“My name is David Siegel, I am a regulatory refugee from the United States.” This is how David Siegel, founder of crypto projects Pillar and 20|30, starts his presentations. What challenges have you faced building projects within the blockchain industry? Siegel understands the need for innovation and disruption within economies, and he can get more done in the UK and Europe than he can in the US. His frustration is that institutional legacy mindsets are holding society back at the precise point when we have the ability to leap forward. I can hear the frustration in his voice as we

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