Weekly Roundup – April 10-April 16

Weekly Roundup – April 10-April 16

The branch of IBM responsible for blockchain research announced that they are partnering with three major music distribution companies to develop new blockchain-based ways of distributing music and compensating rights holders.

The Cornell-based think-tank Initiative for CryptoCurrencies & Contracts (IC3) has announced a partnership with Fidelity Investments.

It has been another bullish week for Litecoin, as signalling for Segwit continues to look strong, driving the price up. BW.com., who mine about 6.6 precent of Litecoin, tweeted on April 12 that they were signalling support for Litecoin.

And in another sign that Litecoin is on the ascendency, mining hardware manufacturer Bitmain released specifications for new Litecoin miners, set to hit the shelves in July, citing consumer demand.

Litecoin is not the only coin moving towards implementing SegWit. Vertcoin announced they would be implementing SegWit, and prices tripled from April 9 to April 10.

In spite of all its woes, Bitcoin adoption is still pushing ahead. That is the conclusion of an academic study led by Dr. Garrick Hileman. The research, funded by Visa, found that the number of wallet in use quadrupled from 8.2m in 2013 to nearly 35m four years later.

Following Japan’s announcement last week that they would be regulating Bitcoin, Russia looked set to follow suit. Deputy Finance Minister Alexey Moiseev was quoted by Bloomberg on April 10 as saying the government would recognize in in 2018. Maxim Grigoriev, head of the Center for Financial Technologies at the Bank of Russia, backed down from these claims.

Two prisoners in Ohio were busted in an extraordinary scheme to commit cybercrimes from inside prison. They were busted with two computers hidden in the ceiling of their cells. The report does not go into detail of the nature of the crimes, but mentions that Bitcoin wallets were used.

In Maine, a proposal to implement blockchain-based voting has failed to pass senate committee. It is now marked ‘DEAD’ in the public record.

Zcash developers Zooko Wilcox and Paige Peterson announced in a blog post on April 12 that a vulnerability had been found that would allow an attacker to crash a node by sending a particular kind of malicious transaction. Another blog post just a day later announced a patch.

A research paper published April 13 claimed to have found a method to reveal information about users of the supposedly anonymous and private cryptocurrency Monero. Monero developer Riccardo Spagni, writing on reddit under the name FluffyPony, said that the vulnerability is not serious, and was already well-known to the designers of the system.

Digital Liquid Venture Fund raised $10m in investment in just six hours on April 10. DLVF increases the liquidity of venture investments by allowing investors to buy in using digital tokens.

A new study on the vulnerabilities of the Bitcoin network has been published. The authors conclude that interference from ISPs is a realistic threat, given the model of routing used by Bitcoin.

The legal battle between Wells Fargo and Bitfinex I wrote about a few days ago is over before it began. Bitfinex’s lawyers filed notice of voluntary dismissal to the court. No reason is cited.

The Swedish investment company Brave New World investments has been allowed by the Swedish government to incorporate with no traditional bank account, using only a Bitcoin account to prove its solvency to the Swedish Companies Registration Office. Brave New World investments allows people to invest in Iran, and it is thought that by dealing in Bitcoin, U.S. sanctions against investing in Iran can be bypassed.

Blockchain-powered decentralized storage company Sia announced on April 11 that they had partnered with Nextcloud. The integration will allow users of Nextcloud, a self-hosted, Dropbox-like service, to use Sia’s file system as a backend.

About The Author

Conor O'Higgins

Conor O'Higgins has been a digital nomad for seven years. He learned the internet marketing game with Google and Facebook ads, but in the wake of the Snowden revelations, abandoned that to help marketing and communications for a more decentralized, encrypted internet. He is not a fan of current implementations of social media, but can be contacted through conorohiggins.com

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