2017 to Bring 40% of Chinese Blockchain Startups

At the moment there are 456 start-ups in China, for which the development of blockchain technologies and applications is part of their core business
21 May 2018   392

Only in 2017 in China appeared almost 40% of the total number of all currently existing blockchain start-ups. Such data is contained in a new document published by the Ministry of Industry and Information Technology of China, CoinDesk reports.

The results of the study were presented on Monday, May 21, as part of an extensive report on the state of the blockchain industry in China. It is noted that at the moment there are 456 start-ups in China, for which the development of blockchain technologies and applications is part of their core business.

At the same time, if in 2016 the number of blockchain companies tripled in comparison with the previous year, in 2017 there was an "exponential growth" - in total, the industry replenished with 178 new start-ups.

A similar trend was observed in the field of equity financing of blockchain start-ups. At the moment, there are 249 initiatives directly aimed at blockchain start-ups, and almost 100 of them were launched in 2017 - more than was registered between 2014 and 2016. It is noteworthy that only in the first quarter of this year 68 initiatives in the field of financing blockchain start-ups were registered.

The document also says that the current law on patents, which was drawn up ten years ago, may be outdated when it comes to protecting intellectual property in the field of block chain technologies.

In particular, the current law protects only those scenarios for the application of technology that are directly described in patent applications, and therefore, most likely, needs to be modified.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   109

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.