Lifeboat Foundation

“The individuals who do these types of attacks are well aware of the pressure points and pain points, economic-wise,” says Dr. John Hale, a cybersecurity expert at the University of Tulsa. “They know what they can extract, how much they can extract.

“They prey upon two things: an organization’s reliance on information systems and two, the common situation, where an organization is a little bit behind on backup procedures and policies to prevent these types of things. It really is easy pickings for the bad guys.”

Crypto ransomware is designed to encrypt data stored on the computer, making the data useless unless the user obtains the key to decrypt it. A message details the ransom, which is typically paid in digital currencies such as bitcoin. Locker ransomware locks the computer or device’s interface — save for the ability to interact with the hacker — and demands money to restore it.

Continue reading “Ransomware: the digital plague infecting the world” »

Steve Forbes sits across Brian Singer, a partner at William Blair, as Blair explains the potential of blockhain encryption to empower individuals. He also explains why credit card companies are beginning to embrace a technology that undermines their high fees.

https://youtu.be/CecpCepnkAU

Privacy is practically a joke anymore.

A hacker known as “Peace” is selling what is reportedly account information from 117 million LinkedIn users. The stolen data is said to include email addresses and passwords, which a malicious party could use to gain access to other websites and accounts for which people used the same password.

LinkedIn says it has about 433 million members worldwide, so this data could represent 27% of its user base.

Continue reading “A hacker is reportedly selling the stolen emails and passwords of 117 million LinkedIn users” »

Dr. Greg Irving, a Clinical Lecturer from the University of Cambridge, recently authored a research project on the potential impact of blockchain technology on scientific research. While the use is not novel in principle, it underscores the very reason blockchain was created.

Why Scientific Research?

Irving, and rightfully so, says that in order to truly trust scientific research the reader’s must know that the content and subsequent conclusions of the research has maintained its integrity throughout editing and publishing. The author references “outcome switching, data dredging, and selective publication” as just a some of the potential pitfalls that can result in bastardized research. How then can researchers increase the trust that their research is has not been tampered with? In response Irving writes.

Continue reading “Scientific Research Needs a Trustless Blockchain Architecture to Be Trusted” »

QC meets Blockchaining; nice.

CoinFac Limited, a technology company, has recently introduced the next generation quantum computing technology into cryptocurrency mining, allowing current Bitcoin and Altcoin miners to enjoy a 4,000 times speed increase.

Quantum computing is being perceived as the next generation of supercomputers capable of processing dense digital information and generating multi-sequential algorithmic solutions 100,000 times faster than conventional computers. With each quantum computing server costing at an exorbitant price tag of $5 Million — $10 Million, this revolutionary concoction comprising advanced technological servers with a new wave of currency systems, brings about the most uprising event in the cryptocurrency ecosystem.

Continue reading “CoinFac Brings Quantum Computing Technology To Cryptocurrency Mining” »

The question breaks down into two parts:

1. For what public benefit? —and—
2. No, it cannot be achieved in this way

Governments are in the business of regulating certain activities—hopefully in an effort to serve the public good. In the case of business methods and activities, their goal is to maintain an orderly marketplace; one that is fair, safe and conducive to economic growth.

But regulation that lacks a clear purpose or a reasonable detection and enforcement mechanism is folly. Such regulation risks making government seem arbitrary, punitive or ineffective.

«— This is money. It is not a promissory note, a metaphor, an analogy or an abstract representation of money in some account. It is the money itself. Unlike your national currency, it does not require an underlying asset or redemption guarantee.

Continue reading “Can Bitcoin be defeated by legislation?” »

Here in the Lifeboat Blog, I have the luxury of pontificating on existential, scientific and technical topics that beg for an audience—and sometimes—a pithy opinion. Regular Lifeboat readers know that I was recently named most viewed Bitcoin writer at Quora under a Nom de Plume.

Quora is not a typical Blog. It is an educational site. Questions and numerous answers form the basis of a crowd-sourced popularity contest. Readers can direct questions to specific experts or armchair analysts. A voting algorithm leads to the emergence of some very knowledgeable answers, even among laypersons and ‘armchair’ experts.

During the past few weeks, Quora readers asked me a litany of queries about Bitcoin and the blockchain, and so I am sharing selected Q&A here at Lifeboat. This is my professional field—and so, just as with Mr. Trump, I must resist an urge to be verbose or bombastic. My answers are not the shortest, but they are compact. Some employ metaphors, but they explain complex ideas across a broad audience.

Continue reading “Bitcoin Pundicy: A Lifeboat Perspective” »

“Who rumors surfaced early last month that Australian cryptographer Craig Wright would attempt to prove that he created Bitcoin, Gavin Andresen remained skeptical. As the chief scientist of the Bitcoin Foundation, his opinion counts: Andresen is among the earliest programmers for the cryptocurrency, and likely the one who has corresponded more than anyone with Satoshi Nakamoto, Bitcoin’s pseudonymous, long-lost inventor.”

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Recently the Russia’s National Settlement Depository (NDS), an organization that provides settlement and depository services, began testing blockchain technology as a potential solution for a corporate e-proxy voting system. The results will not shock you but the origin of praise for the system just might.

NDS began looking into solutions for e-proxy voting in August of 2014. The prototype they recently tested is based on the NXT platform. The system also adheres to the ISO 20022 standard for messaging. NDS worked with the UK based DSX Technologies to develop the e-proxy voting system. The recent testing was conducted during a bondholder meeting.

With this e-proxy voting system, cascade messaging is enabled through a chain of nominee accounts. This chain is from the issuer to the voter and then back. In this configuration, NSD manages the database for the chain in order to ultimately oversee that all voting protocol was followed during the process. All of the information that is on the blockchain is then encrypted and able to be viewed by participants. The digital signatures embedded in the blockchain provide verification that the voting is within the time constraints allotted, all votes are accounted for, and that the process is transparent.

Continue reading “Russia’s NDS Uses Blockchain For E-Proxy Voting” »