Terbium Labs and Skry announced an innovative project last week to increase the scrutiny of bitcoin flows on the Dark Web, hopefully contributing to a reduction of criminal activity, such as theft and fraud, within the Bitcoin ecosystem. Also, the blockchain saw some positive appraisals from Fed Governor Lael Brainard and the US military agency DARPA, expressing interest in the technology.
While in the land of altcoins, the real-life Schrödinger’s Cat that is Ethereum will undergo a two-stage hard fork, with Ethereum Classic also undergoing a single hard fork on the grounds of ‘technical’ considerations. BTCManager also spoke to the CEO of Cashaa in our feature interview on cryptocurrency and the future of blockchain.
Compiled from contributions by Alexander Lielacher, Amy Castor, Farzana Begum, Joseph Young, JP Buntinx, and Michael Scott.
Dark Web Blockchain Startups Develop Fraud Detection Technology
Dark web data intelligence provider Terbium Labs and blockchain analytics startup Skry have entered into a strategic partnership to develop a fraud and illicit transaction detection technology for cryptocurrencies including bitcoin. The joint project, which is called Matchlight, will allow users to securely monitor criminal activity on the dark web, particularly money laundering, fraud, and theft.
Bitbond, Peer-to-Peer Bitcoin Lender, Receives BaFin License to Finance SMEs Globally
Berlin-based bitcoin peer-to-peer lending startup Bitbond is celebrating a milestone for their business. The German Federal Financial Supervisory Authority BaFin has granted Bitbond, as the first blockchain-based financial services company, the license to engage in small business financing in Germany, as well as globally, independently of banks.
Fed Governor Emphasizes Blockchain Security Immutability
Since the beginning of the blockchain hype, banks and financial institutions have emphasized the importance of permissioned blockchains or private networks in overseeing cross-border transactions and the settlement of assets. Federal Reserve governor Lael Brainard disagrees, stating the security of blockchain networks should always be the priority.
Blockchain Technology is on the U.S. Military’s Radar
Blockchain startups are leveraging this open-source technology to record land ownership, combat digital content piracy, authenticate and record the provenance of artwork, register voters, secure file storage, digital identity recording, and verification to name a few. Having said that, tech startups and financial institutions are not the only players in the blockchain space, the U.S. military is also interested.
Where Does Current Research Stand on Blockchain Technology?
The positive characteristics of blockchain technology lead to various technical challenges and limitations that need to be researched and addressed. A recent paper by Yli-Huumo et al. uses a systematic mapping study, finding relevant material within scientific databases to examine research undertaken so far on the technical challenges facing the blockchain. The findings indicate a lot of research is still required for a host of topics such as bandwidth, latency, size, and usability.
Ethereum’s Hard Fork Drags Classic Along with it
Whether all forks are equal or not is up for debate, as the Ethereum Classic network will follow Ethereum in undergoing a hard fork on October 25. The Ethereum Classic community contends that forks that strengthen the network are okay, while those that reverse transactions, like in the instance of the DAO, are not okay.
The Blockchain of Fiat: Feature Interview With Kumar Gaurav, Co-Founder and CEO of Cashaa
Cashaa, a London-based company that capitalizes on the revolutionary power of blockchain technology to fuel a new normal in the cash transfer industry. In this exclusive interview, CEO Kumar Guarav offers a look into his path to co-founding Cashaa, what the company is, and it’s game changing, blockchain-centric solution to global cash transfers.