US Retail Giant Walmart Wants Patent For Blockchain Driven Drone

Walmart Blockchain Drones

Walmart has filed a patent application for a drone communication system based on blockchain technology. With this, the retail giant, one of the largest companies in the business, wants to patent a drone communication system.

With the system, the operating parameters of a drone can be encoded and stored. This allows drones to pass through each other’s locations. This is because the receiving drone can decrypt, read and decrypt the parameters.

Since 2017, the retail giant has patented blockchain solutions for drones. In May 2017, for example, Walmart filed a patent application for a ‘Unmanned Air Delivery to a Safe Place’ system. Walmart has been flirting with cryptocurrencies for some time. Earlier this month, a patent was filed for a digital currency based on blockchain. According to the documents, Walmart ‘wants to launch a digital currency based on a regular currency such as the US dollar. So, this is really a stable currency.

On May 17, 2018, a patent application was filed for a blockchain solution for a market or a second-hand items platform. The application describes a service that records a customer’s purchases in the blockchain. This allows the customer to resell items on a sales platform using proof of purchase.

Users Can Now Add Bitcoin To The Keystore With Latest Samsung Smartphones

Jason Kulpa

Samsung has quietly added Bitcoin (BTC) to its blockchain app store. Their latest smartphones will now support bitcoin in its Keystore Blockchain. Previously, Keystore only supported the Ethereum blockchain (and ERC20 tokens).

The Klaytn blockchain of Internet giant Kakao, written earlier this week, is also supported. With this, Samsung attracts the user base of Kakao applications in South Korea.
Until now, the keystore has a number of limitations in terms of scope. Support is limited to the latest smartphones: Galaxy S10e; S10; S10 +; S10 5G; Note10 and Note10 +.

And not unimportant: users in the Netherlands still cannot activate the functionality on their smartphone. Blockchain Keystore is only accessible to users in countries; Canada, Germany, Spain, UK, WE, South Korea and Switzerland.

There are currently 17 blockchain applications available in Keystore, which was launched earlier this year. Samsung is gradually expanding the store. For example, several dApps have recently been added. Unlike mobile applications, the use of (decentralized) applications is still in diapers. This is partly because there is still much to gain when it comes to interfaces and the ease of use of dApps, among others. Researchers at the marketing agency Zage recently concluded this in a report.

Samsung also competes with this functionality with other mobile wallets to store cryptocurrencies. Because your smartphone acts as a storage for your currencies and, therefore, your private keys, the secret keys of your crypto currency. Like an encryption grant, as a Samsung user, you assume the responsibility of managing your private keys. It depends on the security of Keystore, for example.

As soon as someone knows their private keys, the person will have control over their crypto currency. This means that the person can send them to a different address.

Data Is The New Oil, Blockchain Company Sets Up AI To Analyze Data

Data Is The New Oil

Blockchain startup Bitfury, the company which has recently hit a valuation of more than 1 billion dollars, launched an artificial intelligence unit (AI) to dig deeper and investigate data.

Blockchain, the decentralised digital ledger, became so important as the application it put up, the virtual currency Bitcoin rose to fame with massive adoption. The technology, that further developed in to the public and private sectors, has attracted worldwide attention for its ability to permanently register and track assets or transactions in all industries. Artificial intelligence is one of the technology sectors that attracted large funds to the technology this year.

The European blockchain company, The Bitfury Group, is setting up its artificial intelligence division (IS), the company’s chief executive officer told Reuters in a recent interview. Data is becoming the next oil, says Valery Vavilov, co-founder and CEO of the firm. He added that the company collected so much information that only 2% of this data could be analyzed so far; 98% is still awaiting analysis.

According to reports, the unit of artificial intelligence is still exploring the range of products it offers, and more details are expected by the end of this year or early next year.

Bitfury is supported by significant investors, who collected $ 80 million from risk firms such as Digital Galaxy, Macquarie Capital and Dentsu. The blockchain company was also exploring the making of an initial public offer or IPO last year, possibly in Amsterdam, London or Hong Kong.

People’s Bank of China To Issue Cryptocurrency? Director Says ‘They’re Ready’!

Chinese Digital Currency

PBoC, the People’s Bank of China has stated that its digital currency can now be considered ready. According to Mu Changchun, deputy director of the bank, a prototype that adopts blockchain architecture has developed successfully after five years of research.

His announcement, made at the China Finance 40 forum, was reported by local Shanghai Securities News on August 10.
Two-level operating system. According to the director, it would be difficult to issue a digital currency using pure blockchain architecture in a country as large as China, as retailers demand high competitive performance.

The digital currency will also adopt a two-level operating system to address “the complex economy of the country with a large territory and a large population”, with the PBoC at a higher level and commercial banks at a secondary level. According to Mu, this will improve accessibility, increase adoption rates among the public and foster innovation among commercial entities.

PBoC executive also mentions that the digital currency is designed to adapt to “high-frequency commercial scenarios for small-scale retail sales.” As reported by Cointelegraph on August 9, the PBoC planned to outperform the US libraries. UU. And Facebook by publishing a national cryptocurrency, while US politicians would curb the stability of the social network for regulatory reasons. However, despite Mu’s optimistic comments, it is difficult to know exactly when the Chinese digital currency will be launched.

New Zealand Makes It Legal For Employees To Get Paid In Bitcoin

New Zealand Makes Bitcoin Legal

In an official ruling, the tax authorities in New Zealand declare that paying in bitcoin for wages or salaries is legally binding. The tax department clarifies the legality of paying employees in Bitcoin (or any other cryptocurrencies) and how it should be handled on an accounting level. However, as an independent entrepreneur, you cannot use this. The notice also contains more information about taxes and refund.

New Zealand Makes Bitcoin Legal

The official document of the ruling can be found here: https://www.classic.ird.govt.nz/resources/1/c/1c6029d0-611c-4a15-9cbf-b712129ab76c/tib-vol31-no7.pdf

The change is effective as of August 29. It includes a special treatment for the income tax of cryptocurrencies. From that moment, cryptocurrencies are accepted in the larger image of the income tax. Another term for this is the tax Paye what you earn. The argument given by the tax authorities is that it is increasingly normal for employees to be paid in cryptocurrencies. Of course, this is the case in the industry related to cryptocurrencies, but also abroad it seems to be increasingly conventional.

The ruling states that you can make a payment in crypto currency in two ways. The first way is to deduct the gross salary or the employee’s salary and the second way is to reduce the gross profit.

All of that may sound a bit vague. To illustrate, the tax authorities have added an example to the resolution: If a person earns NZ $ 10,000 in salary per month. Half of this goes to his or her bank account in NZD and the other half is sent to a bitcoin wallet. The tax is calculated on these NZ $ 10,000 gross and subsequently withheld and paid.

If the person is in a situation to claim a child benefit or a student loan deduction, then this is a tool that can be used to calculate exactly how much and how the payment should be made. The manual for this can be found on the website of the tax authorities.

IBM Applies For Patent For Browser Based On Blockchain Technology

Blockchain vs Traditional Finance System

IBM seems to be working on a web browser based on a blockchain. At least, the company behind the first computer filed a patent application for that.

IBM is also working on its own token for this browser. The brave browser has a basic alert token, with which browser users can be rewarded. The same token can also include the IBM token. The tokens can be used to authenticate on the network.

The IBM patent, filed on August 6 by the United States Patent and Trademark Office, is for a web browser with a point-to-point network. The browser collects information from web browsing sessions. The information is then transferred to a peer-to-peer network of nodes for collection and storage. The collection of information depends on the type of browsing experience chosen.

A blockchain-based browser is ideal for storing data about its use, for example, bookmarks, add-ons and its location. The planned system must guarantee the confidentiality of the users, but it is stored in a Blockchain (to develop?).

If, for any reason, you lose your browser data and wish to return to your old trusted browser, in theory you can access the data stored in IBM.

How it will work in practice is not clear in the patent application. A case of blockchain in practice. But, of course, it remains to be seen how they will achieve it.

FATF To Design Software To Track Bitcoin And Cryptocurrency Transactions

Bitcoin Transactions Tracking

The Financial Action Task Force (FATF), said to be developing a tracker system to find digital currency transactions and about 15 countries to be using this to gain personal transactions data from their citizens, says a recent report by Nikkei.

About 15 countries are considering creating a new system to collect and share personal data from people who perform cryptocurrency transactions. The aim is to prevent money laundering, its use by terrorist organizations or its illicit use.

The system would be designed by the Financial Action Task Force (FATF), an international organization of more than 30 member countries and economies. The goal is to establish detailed measures by 2020 and put the system into operation a few years later.

Once in place, the system would be managed by the private sector. As many countries have not yet established a cryptocurrency regulatory regime, international cooperation could accelerate the development of legal measures. The new system will be developed by some 15 countries, including G-7 members Australia and Singapore.

Japan was the first country to introduce a legal framework for the cryptocurrency trade, creating a record in 2017. But with totally unregulated virtual currencies in some places, developing uniform international rules has been a challenge.

Representatives of the G-20 Finance Ministers and Central Bank Governors meeting in June decided to work on setting up licensing and registration systems for account operators. They also agreed to work together to strengthen surveillance and eliminate loopholes for illicit money transfers.

Broader Adoption Of Bitcoin: Dutch Man Sells House For 30 BTC

Crypto Payments in the Real World: Can You Pay for Coffee With Bitcoin?

A broader adoption of Bitcoin on the way: a Dutch man sells a house for 30 Bitcoin. A Brabant man sells his house for bitcoin, while someone from Arnhem makes his purchases with the largest cryptocurrency. Tim Hanekamp of Eindhoven sells his house for bitcoin (BTC). He tells the Dagblad Brabants about his motives: “I don’t know anyone in Brabant who has done this. But I believe in technology. You don’t have to go to a bank, mortgage advisor or notary.”

The house is for sale for a price between € 250,000 and € 300,000. But Hanekamp prefers to receive hard bitcoins for his house. Hanekamp: “It’s useful because I don’t have to change. There’s a lot involved. You have to go to a mortgage advisor, you have to deal with the interests again.” According to De Brabander, a transaction with bitcoin means that it will mainly have fewer administrative problems. When Hanekamp has sold his house, he goes on a trip to the motor home: “The value could well be one million per coin, so I buy a much nicer house.”

Therefore, Bitcoin is particularly useful in this situation to avoid several intermediaries. Bitcoin is a payment method, but it is by no means suitable for all situations. That does not prevent an Arnhemmer from shopping with BTC. A Redditor proudly shows the receipt of your purchases. The sumBTC user has paid very well through the Bitcoin Lightning Network for, among other things, some nuts and fish sticks.

It is an official payment method in the corresponding supermarket. In many places on the Internet you can already pay with bitcoin, but physical stores do not yet support it. If you still want to pay with bitcoin or other crypto currencies, it depends, for example, on a debit card like Coinbase. In this specific store there is a way to pay directly with bitcoin and the second fast layer called Lightning Network. A scan of the QR code and it’s ready.

Binance Offers 25 Bitcoin For Any Information To Fight KYC Data Hack

Binance User KYC Data Leak

Leading cryptocurrency exchange Binance is in trouble again. It was only a few weeks ago the exchange got hacked and lost over 40 million dollars and from the past few hours rumors been circulating suggesting the KYC data of users of the exchange has been compromised.


A channel in the popular social media communication app Telegram has been posting KYC pictures, with customer selfies and other data, claiming it is from the data they are withholding from Binance. The vigilant exchange took quick notice of this and later released a statement saying this is all false just to create some FUD. Adding that they have also received threats and harassment demanding 300 bitcoin in exchange for withholding more photos.

The statement released by the exchange also mentions that the team is investigating the issue, and has offered “up to 25 bitcoin” for any helpful information that is legally actionable to fight this. “Please remember that protecting our users’ privacy and keeping our systems secure, including the funds stored within, is our utmost priority. We have numerous measures in place to ensure the safe-keeping of our users’ information, and we will continue to maintain the highest degree of transparency while serving our community.” concludes the statement.

Even though the legitimacy of this leak is yet to be confirmed, online discussion groups and crypto communities are filled with messages from concerned users, especially those who have submitted their KYC data to the exchange.

Study Says Only 2% Of Bitcoin Transactions Relate To Anything Illegal

Elliptic, a research firm in collaboration with the Massachusetts Institute of Technology (MIT), investigated more than 200,000 transactions in the Bitcoin network for their connection with criminal activity.

In order to sort out 203,769 transactions for a total of $ 6 billion, the research team used a machine-learning algorithm. The results were highly controversial: 77% of transactions were not classified at all, 21% were recognized as full and only 2% were illegal. And yet, researchers confidently state that artificial intelligence can significantly increase the effectiveness of anti-money laundering procedures.

Less than month ago, a similar study was conducted by Chainalysis and, according to its data, the share of transactions in the Bitcoin network related to criminal activity in 2019 is estimated at about 1%. That is, in general, the data from Elliptic analysts are almost no different from the results of a study conducted by Chainalysis. Note that in 2012 this figure was 7%.

Law enforcement agencies often turn to Elliptic for help, especially when it is necessary to identify cases of illegal use of cryptocurrencies. Algorithms developed by the company help determine whether Bitcoin is used for legitimate purposes, for example, by people who do not have access to banking services, or if unknown attackers try to use cryptocurrency for illegal activities.

“Despite the high performance indicators of our algorithms, their use is still fraught with some problems, the largest of which is false positives. The main objective of this study was to reduce the number of such responses. However, the key conclusion is that such machine-learning algorithms are very effective at detecting illegal transactions, ”said Elliptic co-founder Tom Robinson.

Robinson also noted that in some cases, the system detected patterns for which it is difficult to find a description, but they corresponded to confirmed cases of illegal activities related to darknet markets, attacks by ransomware and other criminal activity.