10th Oct Blockchain Updates…

  1. Hackers Breach Smart Contract on Ethereum-Based Adult Entertainment Platform SpankChain.

Ethereum-based adult entertainment platform SpankChain has suffered a smart contract security breach that led to loss of around $38,000. Anonymous attackers managed to steal 165.38 Ethereum (ETH) or around $38,000 from the platform’s payment channel smart contract.

Additionally, the security breach caused the immobilization of $4,000 worth of the SpankChain’s internal token called BOOTY. While most of lost or immobilized funds belong to SpankChain itself, the platform claimed that client reimbursements are of “immediate priority.” The company will shortly repay $9,300 worth of Ethereum and Booty coins directly to users’ SpankPay accounts via Ethereum airdrop.

  1. Canadian Crypto Crypto Exchange QuadrigaCX Blames Major Bank for Delays.

Canada’s largest digital currency exchange QuadrigaCX is blaming legal action from a major bank for delays when customers cash out funds, the Globe and Mail. Vancouver-based crypto exchange QuadrigaCX was launched in 2013 and is known as the first exchange in Canada to be licensed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). At press time, Quadriga’s daily trading volume is around $600,000 per CoinMarketCap.

  1. Forbes Partners With Blockchain-Based Journalism Platform to Publish Content.

According to Civil co-founder Matt Coolidge, Forbes is integrating Civil’s software into its own content management system (CMC). From the beginning of 2019, journalists will be able to upload their data to the Civil network while posting it to the Forbes website simultaneously.

According to U.S. news outlet Axios, the new process will initially apply only to crypto-related news items. However, if Forbes considers the experiment to be successful, other pieces will be posted on blockchain as well.

  1. Unconfirmed: IBM, Azeri Central Bank Cooperate on Blockchain Development.

IBM and the Central Bank of Azerbaijan (CBA) will reportedly collaborate on implementing blockchain technology in the country’s economy. Trend News Agency is an established news service provider spanning the Caucasus, Caspian region and Central Asia, with dedicated news platforms in Azerbaijani, Russian, Turkish and Persian, alongside an English-language platform.

  1. Thai Ministry of Commerce Explores Blockchain Solutions for Copyright, Agriculture, Finance.

The Thai Ministry of Commerce has begun to conduct feasibility studies on the use of blockchain in copyright, agriculture, and trade finance.

A Thai official from Thailand’s Trade Policy and Strategy Office (TPSO), Pimchanok Vonkorpon, told the Bangkok Post that the study is being conducted with the help of the British embassy in Bangkok. As per the article, the ministry wants to find out whether decentralized solutions can boost the country’s competitiveness and credibility, especially in relation to small business.

  1. China Launches Licensed Blockchain ‘Pilot Zone’ to Further Tech Usage.

China’s Hainan Province became the host of the country’s “first” officially licensed “‘blockchain pilot zone”.

With its base at the Hainan Resort Software Community (RSC), a dedicated tech space and software park, the pilot zone incorporates several partnerships, chief among which are a blockchain research institute and innovation center.

  1. Australia Trials Blockchain-Based ‘Smart Money’ for National Disability Insurance Scheme.

The Australian federal government is exploring the use of blockchain-based “smart money” for use in its National Disability Insurance Scheme (NDIS).

The trial, dubbed “Making Money Smart,” has been jointly developed by the Commonwealth Bank of Australia (CBA) and Data61. The latter is a digital innovation center that forms part of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) — an Australian government corporate entity that undertakes scientific research to advance diverse local industries.

  1. UK Telecoms Regulator Receives Grant to Deploy Blockchain for Telephone Number Management.

The United Kingdom (U.K.) Office of Communications (Ofcom) has received a £700,000 ($916,00) grant from the Department of Business, Energy and Industrial Strategy (BEIS) to explore blockchain technology.

The grant will purportedly help the U.K. telecoms regulator examine how blockchain can improve the management of landline telephone numbers.

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