Crypto News of the Day (28.2.) | BTC drops below $ 8,800 • OKEx under DDoS attack • and other news
4 min readTable of Contents
Here you can find an overview of the most important events that took place during the last day in the cryptoworld.
Markets
Bitcoin dropped below $ 8,800 and altcoins follow it to the red with few exceptions. Considerations are beginning to emerge that cryptoin investors in Asia are withdrawing their funds because of problems in local markets due to supply outages and quarantines. And because Asia is one of the most important markets for cryptocurrencies, it has caused a global massive price drop.
You can monitor the current cryptocurrency prices – here.
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Cryptocurrency
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Crypto exchanges, Banks
- Revolut will bring cryptocurrencies to 50 US states
- Coinbase is testing controversial Clearview face recognition technology
- OKEx under DDoS attack, client funds are not at risk
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Blockchain, Technology
- Brave Browser integrated WayBackMachine, a web-based archive
- Kaspersky tests the blockchain application for elections
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Digital money for the first time in the prestigious MIT Top 10 breakthrough technology selection
Here is MIT annual list of technological advances “we believe will make a real difference in solving important problems. How do we pick? We avoid the one-off tricks, the overhyped new gadgets. Instead we look for those breakthroughs that will truly change how we live and work.”
- Unhackable internet
- Hyper-personalized medicine
- Digital money
- Anti-aging drugs
- AI-discovered molecules
- Satellite mega-constellations
- Quantum supremacy
- Tiny AI
- Differential privacy
- Climate change attribution
China’s leaders apparently regard the pound, which was supposed to be secured by a basket of currencies, including the USD, as a threat. It could strengthen America’s disproportionate power over the global financial system, stemming from the role of the dollar as the world’s de facto reserve currency. Now China intends to promote its digital renminbi internationally. The Facebook pound has thus become a geopolitical tool.
In October 2019, Facebook CEO Mark Zuckerberg promised the US Congress that Libra would “extend US financial leadership and our democratic values and world oversight.” So the digital money war began. Why does it matter? With the decreasing use of physical cash, there is also a loss of freedom during transactions. Digital currencies offer no intermediary transactions. Digital currency technology could be used to redistribute the global financial system.
Revolut will bring cryptocurrencies to 50 US states
After Revolut received $ 500 million from investors and thus raised the total value of this unicorn fintech to $ 5.5 billion, Revolut is one of the largest fintech companies in Europe.
Revolut has already a place in Europe, allowing users to buy and sell bitcoins (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and Ripple (XRP) for one of 29 fiat currencies. Revolut is now planning to offer the same service to its clients in all 50 US states.
Coinbase is testing controversial Clearview face recognition technology
Coinbase, an American cryptocurrency exchange with over 30 million total accounts, tested Clearview AI’s face recognition technology, according to BuzzFeed News. However, Coinbase denied that the test included customer data.
Controversial software is under intense scrutiny because an article in the New York Times revealed a company database of over three billion images taken from “millions” of websites and social media platforms without the consent of users or publishers. Some of these companies and platforms, including Facebook, Google, and Twitter, are now threatening Clearview AI with legal action.
OKEx under DDoS attack, client funds are not at risk
The OKEx cryptocurrency exchange experienced a Distributed Denial-of-Service (DDoS) attack last night, but claims no user assets were affected by the attack. A spokesman for OKEx said the attack was a malicious attempt to disrupt the normal operation of the Exchange server. OKEx CEO Jay Hao described the attack as “large” in his Weibo account, with competitors behind this attack. The OKEx technical support team detected the attack and responded “quickly”.
Brave Browser integrated WayBackMachine, a web-based archive
Brave has integrated WaybackMachine, an online archive, into its platform to bring back the “dead pages” that give users an error message. A new version of Brave on your computer detects that the user has received an error message – including the famous 404 error – and sends a pop-up notification asking if he or she would like to see an archived version of this page.
Kaspersky tests the blockchain application for elections
The blockchain elections are gaining more attention in the United States, despite the huge failure of mobile voting in Iowa earlier this month. Companies at the forefront of blockchain technology are aware of the potential of the products they develop to transform not only the global economy, but also the way voters cast their ballots.
This week, it was done by Kaspersky Lab, a cyber security company. The company introduced a new type of blockchain-based voting tool, using the Polys system, launched in November 2017, which aims to provide an effective and safe way to vote online. Polys says voters will be issued with unique QR codes or tokens.
From a cryptographic point of view, the choices under this system would function as distributed book technology; the voice would be encrypted and the connection between the voter who cast it would be verified. The voters could then confirm that their vote was recorded on the blockchain.
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