Lifeboat Foundation

The attack on Rockport is one example in a rising tide of similar invasions of municipal systems across the U.S.—from major cities like Atlanta, which got hit in March, to counties, tiny towns and even a library system in St. Louis. Local governments are forced to spend money on frantic efforts to recover data, system upgrades, cybersecurity insurance and, in some cases, to pay their online extortionists if they can’t restore files some other way.

Hackers are targeting small towns’ computer systems, with public-sector attacks appearing to be rising faster than those in the private sector. Online extortionists demand bitcoin ransom in return for decryption keys.

It seems that Microsoft isn’t done experimenting with blockchain technology.

Microsoft and Ernst & Young (EY) announced the launch of a blockchain solution for content rights and royalties management on Wednesday.

The blockchain solution is first implemented for Microsoft’s game publisher partners. Indeed, gaming giant Ubisoft is already experimenting with the technology.

Continue reading “Microsoft launches ambitious blockchain project to help creators get paid” »

Early adopters, speculators and Geeks are never sufficient to bring a new paradigm to market. Mass appeal and adoption of a mechanism that requires education and a change of behavior is never ‘fait accompli’—until it reaches a tipping point. Once at the tipping point, it can go viral without a structured PR campaign and with risks tied only to technology and scalability.

Continue reading “What will it take for Bitcoin to be widely adopted?” »

The question was asked of me as columnist at Quora.com: Will governments eventually ‘approve’ of cryptocurrency? First let’s agree on terminology…

1. By “approve”, I assume that you are asking if governments will adopt or at least tolerate the use of crypto as legal tender in commerce. That is, not just as a payment instrument, but as the money itself—perhaps even accepting tax payments in cryptocurrency.
2. The word “cryptocurrency” is sometimes applied to altcoins and even to ICOs. These are not the same. Many altcoins meet the criteria of the next paragraph, but none of the ICOs measure up (ICOs are scams). I assume that your question applies to Bitcoin or to a fair and transparent altcoin forked from the original code, such as Bitcoin Cash or Litecoin.

A blockchain-based cryptocurrency that is open source, permissionless, capped, fast, frictionless, with a transparent history—and without proprietary or licensing restrictions is good for everyone. It is good for consumers; good for business; and it is even good for government.

Of course, politicians around the world are not quick to realize this. It will take years of experience, education, and policy experimentation.

Many pundits and analysts have the impression that shifting to cryptocurrency—not just as a payment instrument, but as the money itself—will never be supported by national governments. A popular misconception suggests that a cryptocurrency based economy has these undesirable traits:

Continue reading “Will governments ever approve of cryptocurrency?” »

What would you do if you were a 19-year-old kid with $3.3 million? There are few people more equipped to answer that than teenaged bitcoin millionaire Erik Finman. His answer? You use some of that cash to build a Doctor Octopus-style exosuit and try and shake up the education system.

Cryptocurrency investors can now buy Stellar Lumens on Bitcoin exchange itBit, after NYDFS approved it to add four new cryptocurrencies.

I love clearing the air with a single dismissive answer to a seemingly complex question. Short, dismissive retorts are definitive, but arrogant. It reminds readers that I am sometimes a smart a*ss.

Is technical analysis a reasoned approach for
investors to predict future value of an asset?

In a word, the answer is “Hell No!”. (Actually, that’s two words. Feel free to drop the adjective). Although many technical analysts earnestly believe their craft, the approach has no value and does not hold up to a fundamental (aka: facts-based) approach.

One word arrogance comes with an obligation to substantiate—and, so, let’s begin with examples of each approach.

Continue reading “Technical Analysis: Can it predict future asset value?” »

The EOS blockchain is set to launch after a live-streamed vote among “Block Producers” yesterday unanimously voted “GO”.

E xperts are suggesting quantum computing may render blockchain obsolete. As the tech giants such as Google and IBM are showing interest in Quantum computing the danger is evident. According to MIT Technology Review, this type of computing can hack the cryptography hash that universally secures the blockchain and in general the internet. This would suggest quantum computers may complete fraudulent transactions and steal coins. With its exponential power, quantum computers threaten blockchain’s future security.

Blockchain consists of encrypted nodes connected on a chain, which currently makes it almost impossible to hack. The order of entries adheres to the blockchain protocol, which makes it counterfeit-resistant.

To successfully hack a blockchain, you would need to alter both the targeted block and all of the blocks connected. Blockchains are synced throughout a peer-to-peer network. In this type of system, there is no central point of failure for hackers to penetrate. For a hacker to have a chance of penetrating the network, they would need to simultaneously alter at least 51% of the blockchain.

Continue reading “Quantum Computing: Is it the end of blockchain?” »