Cryptocurrency startup has released Civic automatic for sale beer

Where today there is a long line for a beer, one can receive the vending machine Civic. At its booth at the annual SXSW festival in Austin, Texas, start-up Civic that represents a global system of identification of personal data, demonstrated three vending machine selling local products — beer Shiner Bock and Amber Austin.

It was a test product that Civic plans to formally introduce at the end of the year: the machine cost $ 15,000 US, which can confirm the age of the purchaser and to accept cryptocurrency payment.

“We combine identity and payment in one transaction”, — said the representative of the Civic Kapelaan Titus (Titus Capilnean).

Since opening the business last Sunday, Kapelaan estimated that the machines have sold about 150 bottles of beer a day, with a total value of 100 000 CVC — or 7600 USD. According to Kapilian, the cost of a bottle of beer is about 200 CVC or $ 12. IPhone owners who have downloaded the app Civic Pay and confirmed his identity, got a fairly CVC to buy one bottle. Then you should use the QR-code, which is scanned via the app and payment is done automatically.

“In fact, we have created the machines and tested them here,” said Capernian about the demonstration at SXSW. The first Civic was able to sell, and identity simultaneously, with the participation of a large number of people.

Although all transactions through the app, pay in bitcoin, the idea is that buyers can use the crypt as easily as Fiat money. Civic for the first time has demonstrated its ability to verify the age, by organizing the sale of beer Anheuser-Busch on the blockchain Consensus conference in 2018, but this year, the startup has increased the functionality of its machine by using the mobile app.

Technical problems were not the only obstacle that had to overcome the company.

“We forced the Texas Commission on alcoholic beverages to participate in this event,” said Capernian.

After state regulators became convinced that the law on the sale of alcoholic beverages to the adults only is observed, the organizers of SXSW, too, felt safe.

Not to disclose information about potential partners, Kapelaan reported that the Civic is already in talks with companies that would be interested in cooperation with Civic in places where it is possible to increase sales of alcohol. For example, sporting events and bars can use vending machines to verify age.

However, the company Civic believes that music festivals are better suited to selling beer through vending machines.

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Global adoption of the cryptocurrency will not begin with the Bitcoin: why? Response Of The European Union

“First wave” of the global adoption of cryptocurrency begins not with Bitcoin. According to experts of the Observatory and the forum block-the EU, the largest contribution to this process will make customized designs. By focusing on the specific needs of their clients, they will become very popular among ordinary users.

Who will start here?

The forecast is detailed in a recent report titled “Scalability, compatibility and reliability of blockchains”. According to the document, the developers of the private platforms have much more freedom than independent programmers public blockchains.

However, the global adoption of the technology still has obstacles. First, projects need to reach a much larger number of transactions per second. Second, between different blockchains need to establish a connection for data exchange. Finally, in the third such platform must be resilient to hacker attacks in the long term.

“It is clear that a huge variety of blockchains without clear links can not fully reveal their potential. Users of such systems will benefit tremendously from the possibility of a transaction between different projects.”

In the foreseeable future, the crypt will be “less energy”, but this commands CryptoStream “we need to clearly define their purpose of development.” Although Europe supports the development of the industry, the developers of the block chain still “have a lot to discover and a lot to learn”.

“The United States and China expressed their willingness to support research kriptonyte. The Chinese government even incorporated the relevant expenditure in the new budget. We recommend the EU to follow a similar policy and explore ways to apply blockchains to the infrastructure.

Note that the following intelligence report released in the second half of 2019. Let’s hope that Bitcoin will grow well.

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Students free bottom cryptocurrency

Universities and College campuses have become not only a favorable environment for young minds, but these mining centers.

According to researchers in the field of safety Cisco which track the mining of crypto-currencies in various industries, College campuses are in the second place after the energy sector and utilities.

According to Cisco, the energy sector accounts for 34% of the mining of cryptocurrencies, followed by the University towns, which is 22%.

“You leave [the miner] in his Dorm room for four years and come out of College with a huge Luggage”, – said the expert of Cisco Austin McBride.

Because the electricity in dorms is free, students are engaged in the mining of virtual currencies without any costs than the national average.

“The difficulty of mining many coins is now very high, accordingly, this increases energy costs and reduces the profits from mining coins. If you don’t have to pay the costs, you can make good money”, – the expert added.

McBride noticed that mining crypto-currencies is practiced not only by the students. Hackers regularly hack into vulnerable networks, installing malware for mining cryptocurrency.

Moreover, the majority of companies operating in the energy and utilities sectors using outdated computers, which makes it easy to infect the network with malware.

In January 2018 the University of Stanford has sent students a message that warned against the mining of cryptocurrencies, in particular Bitcoin (BTC) and Ethereum (ETH), using the resources of the institution.

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Wallet Coinomi is vulnerable: the user of the stolen cryptocurrency is worth more than $60 000

The Coinomi wallet passphrase sends users to a spell check service Google unencrypted, revealing fraudsters access to private information and giving the opportunity to seize the funds of users.

About the problem became known after angry posts on Twitter programmer Warita al Mawali, who discovered the security gap, investigating the mysterious theft of 90% of their funds.

Al Mawali said that during the configuration of the Coinomi wallet, when the user enters a mnemonic phrase (seed), the application Coinomi captures user-entered text data and automatically sends them to the Google Spellcheck API to check the spelling in the clear.

“To understand what is happening, I’ll explain it technically, says al Mawali. The wallet interface is written in HTML and JavaScript and rendered using the embedded browser based on Chromium”.

Like any other app based on Chromium, the wallet application is integrated with various features geared toward Google, such as automatic spell checker for all text boxes for user input. It seems that the problem lies in the fact that the Coinomi team did not bother to disable this feature in the UI code of his wallet, which led to a situation where a backup of the phrases of purses of all of their users were leaked via HTTP during the install process and setup wallet.

Anyone who is able to intercept web traffic from the app wallet will be able to see the seed-phrase application of the Coinomi wallet unencrypted. This phrase allows attackers to obtain with the help of restore access to all of the funds held in the user’s wallet.

Although al-Mawali there is no conclusive evidence that this is the way hackers gained access to his data that he claims was stolen, only the funds that were kept in the Coinomi wallet, and so he sees no other way to steal the cryptocurrency than through the access mnemonic phrase Coinomi.

“Anyone involved in technology and cryptocurrency that knows what (…) 12 random English words separated by spaces will probably become a code phrase for cryptocurrency wallet,” said al Mawali.

The researcher created a special web site where it described the problem and the experiment, which he spent trying to get Coinomi to admit vulnerability. He has also published a video with a test of its concept, which was later independently verified and reproduced by Luke Childs, a security researcher.

Coinomi that offer multi-cryptocurrency app for wallets for Android, iOS, Linux, Mac and Windows, has not responded to the request of the affected user with an offer to compensate for the stolen funds. However, the updated version of the application appeared the next day after the treatment of the user.

Al Mawali claims that he lost from 60’000 to 70’000 US dollars in various cryptocurrencies. His version of the theft of funds was confirmed by other messages in the thread Coinomi on the forum Reddit, where users complain that once they woke up and found that all of their wallets Coinomi, was devastated in one night.

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JP Morgan has launched its own cryptocurrency

The largest Bank in the US JP Morgan has launched its cryptocurrency secured by the US dollar JPM Coin. The investment Bank launched a token, such stablein, which will have wide application: from the settlement of cross-border payments up to the use of Treasury bonds of the Bank.

Banking giant handles daily transactions worth about $ 6 trillion, part of which will be conducted using the established coins JPM. Coin will only be available to its institutional customers, who can buy it for U.S. dollars.

Head blockchain project of the company JP Morgan Umar Farooq sees three main options for the use of a token:

  • International payments. Large corporations transfer millions of dollars every day using Bank transfer network Swift, which usually takes a few days, and using a token, you can perform almost instantaneous calculations.
  • Operations with securities — Faruq argues that JP Morgan has created a certificate of Deposit on the blockchain by $ 150 million to a canadian Bank.
  • Replacement of dollars stored in Treasury bonds. The token can replace the dollars that are owned by subsidiaries of huge corporations around the world.

General Director JP Morgan James Dimon repeatedly criticized and even cryptocurrency called Bitcoin a “Scam”, but now he enjoys the first-mover advantage and seeks to gain a significant share of the market for corporate payments.

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Amazon users voted to issue its own cryptocurrency

Popular financial portal Investing.com conducted a survey among customers of the retailer Amazon, according to the results of which revealed that customers would like to see a wider range of goods produced by Amazon, including its own crypto currency of the company.

The survey involved more than thousands of customers Amazon. Respondents answered questions about frequency of purchases and the level of confidence in the company. It turned out that consumers feel much more comfortable buying products with the brand Amazon.

On the question of what product would like to see the customers under the brand Amazon, 12.7% of respondents answered “cryptocurrency”. Also consumers are willing to buy marijuana with the tag Amazon (13.5%), drug prescription (9.3%), computers (72.9%), coupons and discount cards (10.6%) and health insurance (15.3%). Note that respondents could select more than one option.

In addition, it became known that about a third of respondents at least once a month make a purchase on Amazon.com. Depending on the age of people spend on buying goods on the average from $ 102 to $ 123. With 43% of respondents indicated that they will no longer buy things in traditional shopping centers.

Note that this week the head of one of the largest cryptocurrency exchanges Binance, Chanpen Zhao(Zhao Chanpeng) expressed confidence that sooner or later Amazon will release their own cryptocurrency, which will be used for the purchase and sale of goods.

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Iran has launched a gold-backed cryptocurrency

Iranian authorities have launched a gold-backed cryptocurrency PayMon to bypass international sanctions. On the release Aldona worked banks Parsian Bank, Bank Pasargad, Bank Melli Iran and Bank Mellat, the asset will be presented on the OTC platform Fara Bourse, writes CryptoGlobe.

According to the Director of the company Ghoghnoos Valiollah Fatemi, initially will be issued 1 billion new tokens. They will be used for tokenization of the assets of financial institutions and reduce the negative consequences for the economy when disconnected from the interbank system SWIFT.

In late January, the network appeared the information that the Central Bank of Iran is preparing to introduce a ban on the use of digital money, which has not received approval from the local financial regulator, to protect its own national cryptocurrency. Citizens will be restrictions that they are unable to hold funds in excess of $ 10 thousand in Bank accounts.

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Christmas collapse: How China can drop the cryptocurrency market in a few days

History of China gave us the Great wall and the “Art of war”. To the question of cryptocurrencies China also came up in a big way — even in 2017, the country banned online trade coins. However, this does not prevent local investors to exchange coins on exchanges because the prohibition does not apply to peer-to-peer and OTC trading.

The upcoming Chinese New year may be another reason for the fall of Bitcoin. The celebration in the most populous country in the world would entail the withdrawal of a huge number of bitcoins in Fiat currency and the potential collapse of the market. According to preliminary estimates, in the coming couple of weeks China will leave tens of millions of citizens to spend their new year vacation abroad.

The bear New year

The first celebration began on January 28, however the official New year in China begins on 5 February. Various national festivals will be held until 19 February.

How all this will affect trading Bitcoin? Despite the restrictions, millions of Chinese captainvalor use VPN and make a significant proportion of liquidity in the auction. Even the largest crypto currency exchange Binance, which had previously been registered in China, left the country to continue their business.

Perhaps the fall of Bitcoin 27 January was partly connected with the Chinese New year. We will remind, a week ago the main cryptocurrency was trading above $ 3,500, but 24 hours later its value drastically fell to a support line in the area of $ 3349.

Let’s hope the Chinese are not withdraw too much money from the capitalization of the cryptocurrency market. February was almost always a positive month for prices of Bitcoin, maybe this time the trend will remain the same. After the end of the festivities, you can also expect the growth of altcoins, which are considered the best among local investors.

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JP Morgan: Investors turn to cryptocurrency, only if you lose faith in other assets

Analysts at investment Bank JP Morgan Chase speak about Bitcoin is not as bright as its CEO Jamie Dimon. Recognizing a low correlation cryptocurrency with any other reserve asset, they nevertheless believe that investors pereorientirovanija on cryptocurrencies only in case will be implemented “dystopian scenario”.

Post-capitalist dystopia, according to a note by JP Morgan to clients of the Bank, is a combination of several factors, including the loss of confidence to all primary reserve assets such as us dollar, Euro, yen or gold, and the existing system for payments service in General. Only in this case investors will start to accept Bitcoin and cryptocurrency as a tool of hedging of risks.

Arguments in favor of crypto-currencies as such a tool is the low correlation of the behavior of the stock market and traditional markets. Despite all attempts to find some connection in the behavior of Bitcoin and other assets, evidence to suggest that such a relationship exists, is still there, I believe JP Morgan.

High, which can be say — a little hint at the relationship with individual indicators, such as the index of emerging markets, than in the past year, said Tom Lee of Fundstrat Global Advisors.

However, in the investment Bank believe that overestimate the resemblance isn’t worth it. The behavior of the cryptocurrency, they take off in 2017 and fall 2018, has the most similarities with the cycles of other assets at different times. Something similar happened with gold in the early 1970s, with the Nikkei in the 1980s, and with the shares of American it companies in the 1990s, experts say.

Interestingly, almost a year ago, the same JP Morgan in its report argued that investors refrain from investing in cryptocurrency is not due to the fact that waiting for the implementation of the “dystopian scenario”, and in the absence of a simple and the usual tools. Such as exchange traded funds, or ETFs, which the Bank called “the Holy Grail” for the stock market.

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China has updated its ranking of cryptocurrency: Bitcoin jumped up

Information center and development of the industry (CCID) has published an updated rating, consisting of 34 cryptoprocta. This is the first rating of 2019, but already the ninth issued by the Agency. At this time, Bitcoin was able to move two places higher in the list, but the first two positions still occupy the same coin.

New top cryptocurrencies from the Chinese

EOS now once again appears in first place among Asian investors. Most of the rankings remained unchanged, experts believe that over the past couple of months the stock market has been no serious shifts. But Bitcoin is a little older in the eyes of the Chinese with 18 positions, the cryptocurrency has risen to 15. BCH is also moved two places up from 30 in 28th place.

The results indicate that EOS and Ethereum is still firmly held on the top of the rankings.

Analysts also mentioned hardwork Constantinople, which will be taken into account when compiling the following rankings. At the same time Ethereum Classic fell 15 positions to 19th place. According to experts, this contributed to a 51 attack, which seriously undermined investor confidence in the cryptocurrency.

All 34 coins were also separately evaluated in three categories: basic technology, application and creativity. Unfortunately, “the total value of the indexes of the categories has slightly decreased since the previous rating.” However, the applicability of the projects remained at the same level.

Among the three evaluations, the most “suffer” the creativity this criterion, the experts identified the activity of developers in Github. The fall of creativity related to the Christmas holiday. Most developers are not involved in the process of applying new innovations in the code that strongly affected the index value.

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