Crypto News | Steve Wozniak Praises Blockchain Revolution

On May 16, we talked about HTC and LG joining the blockchain revolution, especially the new blockchain smartphone that HTC is working on. With the way things are going, we may even live to see a blockchain iPhone announced. At least that might be the case if Steve Wozniak hadn’t left Apple back in the 80s. The outspoken Apple co-founder has been making positive comments about blockchain technology and cryptocurrencies for some time now. On May 16, he heaped praise on blockchain technology during his opening speech at the WeAreDevelopers World Congress 2018 in Vienna, Austria. He said that blockchain is a great idea, and went on to say that the blockchain revolution is “the next major IT revolution.” Last year in October, while attending the “Money 20/20” conference in Las Vegas, he said that Bitcoin is superior to both gold and the US dollar.

Although Wozniak making positive comments about cryptocurrencies is not such a big deal in and of itself, when we look at the bigger picture, we see a rising trend of industry leaders and investors embracing blockchain technology and openly talking about its potential to change the way things are done.

But it’s not all just sunshine and rainbows in crypto land. In fact, malicious malware masked as a Chrome extension that leeches your resources sounds like exactly the opposite. Unfortunately, this has become an issue that we are forced to report on time and time again. A recent blog post published by Radware revealed that a Chrome plugin named “Nigelify” has been infected with a malware code to steal private data and mine cryptocurrency without your knowledge. Cybersecurity researchers say that the extension is capable of creating copies of other actual extensions, which allows its malware script to bypass validation checks. Although the hackers that developed the malware have only been active since March of 2018, researchers claim that 100,000 machines have already been affected, primarily in Venezuela, Philippines, and Ecuador.

On a similar note, in an effort to stop people from falling for ICO scams, the U.S. Securities and Exchange Commission has launched its very own fake scam. HoweyCoin, as the project is called, was launched on Wednesday, May 16, to educate investors and show them what a fraudulent ICO looks like. HoweyCoin claims to be a token for purchasing travel packages, only cheaper since their platform is “frictionless” and without the added fees. Naturally, the official website advises investors to “HODL”, and the whitepaper is long and complex, yet vague when it comes to explaining the investment opportunity. There is also a countdown clock, untraceable testimonials, and the promise of great returns. While the man behind the project says that the SEC deliberately incorporated red flags that should serve as dead giveaways, the website does look pretty convincing. Perhaps the SEC can scam people out of getting scammed?

If not, regulations can certainly do the job. During a recent panel discussion, several US government officials attacked anonymity as one of the main features of cryptocurrencies that must go. Nevertheless, proving their case might be an uphill battel, considering that two recent reports on organized crime (one from Hong Kong, one from Quebec) showed that cryptocurrencies are not a threat and that only a small portion of criminals resorts to their use. After all, with cryptocurrencies, it is nearly impossible not to leave a trace. That’s just how blockchain works.

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Author: Max Rothstein

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