x
Image Source: Pixabay
UK court allows lawsuit to be delivered via NFT
Civil Procedure Rules in the U.K. have previously allowed for lawsuits to be served using Instagram, Facebook, and a contact form on a website.
According to a Tuesday notice from U.K. law firm Giambrone & Partners, a case brought by Fabrizio D’Aloia against Binance Holdings, Poloniex, gate.io, OKX, and Bitkub over allegations someone was operating a fraudulent clone online brokerage has resulted in a legal precedent offering a digital solution to serving someone. On June 24, the judge in the case allowed parties to be served by airdropping NFTs into wallets originally held by D’Aloia but stolen by unnamed individuals.
Until now, Civil Procedure Rules in the U.K. allowed lawsuits to be served by personal services, mail, dropped off at a physical address, or by means of a fax or another type of “electronic communication.” However, using electronic methods to serve someone has usually been in cases where the parties agreed in advance to such delivery, or a court authorizes it for a “good reason.” According to Giambrone & Partners, these methods have included Instagram direct messages, Facebook messages, and a contact form on a website.
“This order is a noteworthy development in the area of service of court documents and a welcome example of a court embracing new technology,” said the law firm. “This judgment paves the way for other victims of cryptoasset fraud to pursue persons unknown who have misappropriated their cryptocurrency in situations where they otherwise would not be able to.” Read More
What Is The Future Of Security In The Post Quantum Era? NIST Reveals First Four Quantum-Resistant Cryptographic Algorithms
The U.S government through the Department of Commerce’s National Institute of Standards and Technology (NIST) recently announced that it has selected four encryption algorithms for consideration in its post-quantum cryptographic standard. According to the announcement, the initiative which has been in the works since 2016 is expected to be completed within the next two years in preparation for the quantum computing era.
As it stands, the existing conventional computers use public-key encryption systems that will likely be vulnerable to decryption by quantum computers. This means that the information stored in these systems will no longer be secure once quantum computers come into the picture. No wonder both governments and private organizations are currently investing heavily in quantum computing research.
“We don’t want to end up in a situation where we wake up one morning and there’s been a technological breakthrough, and then we have to do the work of three or four years within a few months—with all the additional risks associated with that,” previously said Tim Maurer, an adviser to the secretary of homeland security on cybersecurity and emerging technology. Read More
South African exchanges welcome the new ‘crypto is financial asset’ ruling
Major South African exchanges have welcomed the central bank’s plans to regulate cryptocurrencies as financial assets.
The move to classify cryptocurrencies as financial assets and not currency has been talked about for some time by the South African Reserve Bank (SARB). Deputy governor Kuben Chetty confirmed that the new regulations would take effect over the next year, speaking in an online dialogue on Monday.
The cryptocurrency space has been left to develop organically in South Africa, with no clear-cut regulations issued by the SARB until recently. The country has become a leader in cryptocurrency adoption, with more than 6 million South Africans estimated to own some cryptocurrency.
Now that the SARB has finally taken a stance toward the ecosystem, exchanges, traders and investors can begin to take stock of the ramifications. Cointelegraph reached out to prominent exchanges operating in the country to gauge the perception of the SARB’s regulatory attitude.
Marius Reitz, general manager for Africa at global cryptocurrency exchange Luno, has been a proponent of clear regulatory parameters for the cryptocurrency industry. In correspondence with Cointelegraph, Reitz welcomed the regulatory move and believes it will create a safer environment for users in the country:
“It will require crypto asset service providers (CASPs) to obtain FSP licenses and will be easier for the public to identify a trusted and licensed platform. It will create a barrier to entry for those platforms with no regard for the security of customer funds and customer information.” Read More
Russian Blockchain Alternative to SWIFT to Prevent Disconnection of Nations, Banks
A Russian university is ready to test its blockchain-based analog to the global payment messaging network SWIFT, from which Russian banks were cut off as part of Western sanctions. The developers say their system would not allow the disconnecting of countries and banks.
Russian Developers Create SWIFT Substitute Using Blockchain
Experts from the Competence Center of the National Technology Initiative at the St Petersburg State University in Russia announced they are preparing to trial a new interbank payment system, an alternative to SWIFT. The latter is now inaccessible for major Russian banks as a result of financial restrictions imposed over Moscow’s decision to invade Ukraine.
“The pilot version of the decentralized interbank financial messaging system is ready for testing and can be used in banks,” the university said in a statement. The people behind the project, specializing in the field of distributed ledgers, have employed blockchain technologies to create the platform.
The center’s technical director Alexander Kireev said that preliminary testing showed good results. The transfer speeds currently exceed 25,000 messages per second at one node and the network’s capacity can be increased in the future. Read More
We have a lot to be grateful for within Markethive. It’s like stepping out of the rat race into an oasis of humanity at its best. As an inbound marketing, business-based blockchain platform with an inherent entrepreneurial spirit, we have all the tools to get our message out to the whole world. We have a social media interface with a collaborative ethos rarely experienced on legacy social media.
We are starting to see new integrations in the blogging section in preparation for the customized, more intuitive interface and dashboard of Markethive and, of course, the Markethive Wallet that will facilitate the Merchant accounts for members as well as personal transactions, the Vault, etc.
The new-look Blogcasting Hub is located at the top of all blogs in the system. Blogcasting is a term introduced by Markethive and is an enhanced broadcasting system. In the traditional broadcasting sense, only the people who physically subscribe to your blog or newsletter are usually notified of your updates via email.
With this blogcasting system, your social networks are informed of your blog as and when you publish them. What this means is the potential reach is into the millions. Read More
Can Solana Bring 1,000,000,000 More Users to Crypto? Anatoly Yakovenko Explains Goal Behind New Mobile Phone
Solana Labs co-founder Anatoly Yakovenko says the tech firm’s new mobile phone aims to bring droves of new users to the crypto world.
In a new interview on the Bankless YouTube channel, Yakovenko says that Saga, Solana Labs’ new Android-based Web 3.0-enabled smartphone, aims to make transacting with and managing digital assets “as amazing as using Apple Pay.”
“The goal for this product is to build an awesome experience for signing for self custody for those integrations between native applications and digital items, NFTs (non-fungible tokens), and all that stuff you want to do with Web 3.0, just make it as amazing as using Apple Pay.
Every time I use Apple Pay, I don’t [have] to enter another credit card ever again. I’m like ‘this doesn’t suck,’ [and] I want the same experience for crypto.”
Yakovenko says that most people in Europe use Android smartphones as their primary computers and that tapping into that market using Saga could bring nearly a billion more users to the crypto sphere. Read More
Former Coinbase Executive To Launch Decentralized Social Media Project After Raising $30,000,000 From Investors
A former executive from top US crypto exchange Coinbase has raised funds for a new decentralized social network protocol.
In an announcement on his website, former Coinbase vice president Dan Romero says that Farcaster, a protocol for building social networks, has secured funding from a series of venture capitalists.
According to the announcement, the $30 million funding round was led by a16 Crypto, Andressen Horowitz’s crypto arm with over $4.5 billion in assets, as of May.
“Our goal was to build a credibly-neutral protocol where users have direct relationships with their audiences and developers have the freedom to permissionlessly build new clients. We went through a few iterations and ultimately built Farcaster, a sufficiently decentralized protocol for building social networks." Read More
Unstoppable Domains Pairs with MoonPay to Optimise Crypto Payments
Non-fungible tokens (NFT) domain name provider Unstoppable Domains is introducing an easier way for users to buy cryptocurrencies on MoonPay, one of the leading infrastructure service providers in the Web3.0 ecosystem.
Losses due to sending funds to the wrong addresses are almost impossible to recover, and native wallet addresses predispose users to a lot of security risks. The partnership between MoonPay and Unstoppable Domains will resolve this avoidable dilemma and make onboard mass users into the Web3.0 space more realistic.
Per the details of the partnership between Unstoppable Domains and MoonPay, clients will be able to use their customized domain names as a wallet when buying assets on the platform.
Rather than the complicated crypto wallet that many crypto traders are used to, a simple ‘.crypto’ domain can easily be deployed in the MoonPay buying flow.
“MoonPay and Unstoppable Domains share a common mission to make it easier for everyone to onboard into the world of Web3,” said MoonPay co-founder and CEO Ivan Soto-Wright, adding that “MoonPay’s checkout product makes topping up crypto wallets with bank cards, Apple Pay, or Google Pay on the front-end smooth and intuitive. Unstoppable Domains streamlines the tail-end of the journey by removing complex strings of digits and characters for public wallet addresses and replacing them with custom domains.” Read More
Ankr Unveils Its Biggest Upgrade, Ankr Network 2.0, To Truly Decentralize Web3’S Foundational Layer
Ankr, one of the world’s leading Web3 infrastructure providers, is delighted to introduce Ankr Network 2.0, described in the new whitepaper as a “Decentralized marketplace for Web3 infrastructure.” The upgrade brings a full suite of decentralized products and services that serve as the critical infrastructure behind Web3 growth.
There have long been concerns that Web3 is not as decentralized as its boosters claim as the majority of its server (node) infrastructure for underlying blockchains is hosted by centralized companies and data centers. Ankr 2.0 solves this crucial problem with new decentralized web services – a protocol that allows independent node operators to connect developers and dApps to blockchains and earn rewards while they do it.
“Ankr 2.0 is the missing link for Web3 to become decentralized once and for all. Allowing blockchains to work with multiple infrastructure providers on a single network has always been the dream, both for speed, reliability, and decentralization. Now with the Ankr Network, that’s all possible. It’s a major move forward for the industry to keep innovating towards an infrastructure that can handle mass adoption in the years to come,” said Greg Gopman, the Chief Marketing Officer at Ankr.
The new Ankr Network has been over a year in making as Ankr transitioned its centralized infrastructure business to a decentralized protocol, creating the first-of-its-kind node infrastructure protocol for the industry to collaborate on. The fully decentralized Ankr Network brings the following upgrades for the benefit of all stakeholders: Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
