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US Department of Commerce Looking To Hire Crypto Guru

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US Department of Commerce Looking To Hire Crypto Guru

U.S. Department Of Commerce Looking To Hire Crypto Guru

The United States Department of Commerce is looking to hire a computer scientist specializing in blockchain and identity management.

According to a job listing from Aug. 9, the federal agency is seeking someone with at least one year of specialized experience in developing blockchain infrastructure and conducting research into blockchain technologies, crypto ledgers and crypto contracts.

Focus on identity management and crypto tokens

The Department of Commerce’s listing hints at the future hire’s duties and responsibilities in general terms, revealing only that they will be tasked with research and development into potentially disruptive technologies at the department’s Information Technology Laboratory.

It notes that the candidate’s role will include a focus on the cybersecurity capabilities and requirements necessary for the successful implementation of emerging technologies.

Yet in its outline of the experience required of candidates, the listing indicates that identity management in connection with blockchain will apparently be of particular importance for the role.

Applicants should have experience with:

“National and global identity management programs and identity tokens” and in “standards and national and international standards bodies developing identity management, blockchain and identity token interoperability standards.”

The appointment is for a short-term vacancy — not to exceed one year — at a salary of up to $166,500.

Federal agencies step up blockchain activity

The U.S. federal government is expected to raise its blockchain spending to $123.5 million by 2022 — an over 1,000% increase as compared with the $10.7 million it spent in 2017.

In June, the U.S. National Telecommunications and Information Administration — which forms part of the Department of Commerce — reached out for feedback on blockchain policy,  as officials forecast an increasing focus on the technology in coming years.

The Department of Commerce has been responding to developments in the blockchain sector since 2016.

Blockchain News

U.S. Debt Increase Of Over 1 Trillion May Help Bitcoin

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U.S. Debt Increase Of Over 1 Trillion May Help Bitcoin

U.S. Debt Increase Of Over 1 Trillion May Help Bitcoin

Donald #Trump might not like #bitcoin, but he’s doing an excellent job creating the economic conditions in which the leading cryptocurrency can thrive. Need proof? Just look at the US national #debt, which crossed the $22 trillion mark in February and has ballooned by nearly $400 billion more in the six months since then.

The bad news for fiscal #hawks – and the good news for bitcoin bulls – is that there won’t be a reprieve anytime soon. Despite railing against the national debt during his first presidential campaign, Trump just signed a budget bill that will tack another $1.7 trillion onto the US #government’s liabilities over the next decade.

Want to be even more terrified? Take a brief glance at the US Debt Clock and watch those numbers spiral upwards in real-time. While Trump continues to tout the “phenomenal” bipartisan budget agreement, the government’s debt addiction set the US economy on a dangerous path.

Bitcoin, unlike the US dollar, has a fixed supply. Only 21 million bitcoins will ever be issued, and the keys to 23 percent of the tokens in circulation have reportedly been misplaced already. Unlike government-run currencies, the cryptocurrency’s value depends entirely on one thing: demand. It’s not surprising that institutional investors have started piling into bitcoin already to hedge their bets. Risky or not, BTC might just be the best way to protect yourself against the irresponsible borrowing of the US government.

What comes next for the US economy?

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Regulation News

Facebook Privacy Issue To Stall Libra?

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Facebook Privacy Issue To Stall Libra?

Facebook Privacy Issue To Stall Libra?

 

As if Facebook didn’t have enough privacy issues, the company now confirms that it has been transcribing the audio chats of its users for quite some time.

Facebook claims that the only conversations that were transcribed were from those users who selected that option in the Messenger app.

Facebook also claims that it was on for the sole purpose of making sure the transcription application was performing properly.  Needless to say, it is difficult to believe anything Facebook has to say on this or any other privacy issue. Even worse, third-parties were used to transcribe the audio, but this information was never disclosed to users.

This is not going to help Facebook in regards to the Libra cryptocurrency venture. Cryptocurrency users love the idea that transactions are relatively private and like to hope and believe that what they do with their transactions is not scrutinized. Yet Libra is supposed to be managed by a “trusted issuer,” namely Facebook. Write-access to the transaction ledger for Libra rests solely with authorized members of a corporation consortium. As it is, distrust of corporations, in general, is widespread, but the distrust of Facebook is now legendary. Every week it seems like some other privacy breach is revealed in the Facebook universe. Just when it seems like an issue has been aired, or cleared, another one pops up like Whack-a-Mole.

Believers in cryptocurrency coalesce around the desire to eliminate centralized entities. They don’t want to have any connection to some form of centralized control or valuation. It is becoming increasingly apparent that Libra has fewer and fewer qualities of true cryptocurrencies. Rather, Facebook seems to want Libra to be some kind of innovation with the established financial system – and then control it. Even Congress is concerned. Ed Butowsky, Managing Partner at Chapwood Capital Investment Management, tells CCN that – even though he’s a crypto skeptic – cryptocurrencies and other financial systems have one thing in common:

“System control requires user trust. From gold rush sellers to today’s gold – buying stores, systems to weigh gold have been transparent and trusted. No such transparency exists for Libra. Transparency and Facebook are mutually exclusive. Libra will consequently face big trust challenges.”

What is the future for Libra and Facebook?

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Coinsquare And FlexaHQ – To Bring Crypto Payments To Canada

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Coinsquare And FlexaHQ - To Bring Crypto Payments To Canada

Coinsquare And FlexaHQ – To Bring Crypto Payments To Canada

One of Canada’s top crypto exchanges, Coinsquare, has partnered with United States cryptocurrency payments startup Flexa to bring in-store digital currency payments to Canada.

In-store crypto payments in Canada

The official Twitter account of Canadian cryptocurrency exchange Coinsquare said on August 13 that the firm partnered with U.S.-based crypto payments startup Flexa. The partnership will reportedly allow the latter company to expand its in-store crypto payment processing services to Canada. Coinsquare noted:

“One of the biggest hurdles in mass adoption for crypto is finding a way to let users spend it. We are excited to bring Flexa’s solution for this problem to #Canada.”

Per the announcement, the exchange will also add Flexa’s spend features to its apps, allowing its users to spend directly from their on-exchange balance in over 7,500 physical stores in Canada.

A variety of accepted coins

According to a promotional video featured on Flexa’s official website, the startup’s service supports Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH). Furthermore, a post published by the company on Medium today suggests that they also support Litecoin (LTC), anoncoin Zcash (ZEC) and stable-coin Gemini Dollar (GUSD).

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