Blockchain adopted in Austin  to support the Homeless

A new blockchain platform is being launched in Austin in order to resolve identity problems relatively to its homeless people
17 April 2018   461

Austin was chosen alongside with the other 35 cities as a participant of the Mayor’s Challenge Program, sponsored by Bloomberg Philanthropies. The top one from the rest 35 will win $5 million.

Identification is one of the main difficulties that obstacle the homeless to get housing, potential employment, and medical care and the other important services. Austin believes that blockchain may help in solving these challenges. Blockchain technology can found unique online identifiers for homeless people. It let them to reestablish their historical records and assist them overcome poverty.

At a high level, the pilot is trying to figure out how to solve one of the challenges we have in our community related to the homeless population, which is how to keep all the information of that individual with that individual. 
Steve Adler, the Mayor, Austin

The blockchain project`s aim is to reinforce previous identity records and identify each homeless individual safely and confidently when letting seamless pass to data by a service worker. “There are all kinds of confidentiality issues that arise when you try to do that, so the thought was that blockchain would allow us to bridge that need,” claimed Adler.

So, inconvenient paper records can be replaced with digital electronic encrypted information which will be more distinct and secure. The blockchain-based platform could also help service providers authenticate a homeless person’s identity without going through existing paper records or  bringing someone back to the office for processing.

Records on the blockchain, unlike the paper ones, can be shared betwixt various  providers easily, especially new records that need to be added over time. Having a historical record of a personality is very important, especially in healthcare where any new or updated information can be critical for people.

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   82

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.