Baidu to Unveil Blockchain Stock Photo Platform

Distributed ledger technology is used by search giant to assign a timestamp to each original photo and store related data in a distributed network
12 April 2018   484

The search engine developer Baidu launched a stock photo bank on the blockcahin, which is designed to protect the rights to intellectual property in China. This is reported by CoinDesk.

A service called Totem was launched this Wednesday. It uses a blockchain to assign a timestamp to each original photo and store related data in a distributed network.

Baidu has significant achievements in the field of data analysis and artificial intelligence, which it intends to use when comparing images from the Internet with data stored in its blockchain.

To date, several photo banks have started using a new service, including Visual China Group - local partner of Getty Images.

Whether Baidu uses a public or private blockchain is unknown.

New project was launched few months after Baidu released CryptoKitties knock-off dubbed Laici Go and own blockchain-as-a-service platform in January.

This isn't the first time when blockchain technology is used to protect intellectual property of digital media assets.

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   70

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.