Blockchain Securities Lending presented in Israel

The Tel Aviv Stock Exchange has declared the development of a blockchain-based securities lending platform that is to enable direct lending
18 May 2018   326

The Tel Aviv Stock Exchange (TASE) declares its new ‘Blockchain Securities Lending (BSL)’ project will basically rebuild the internal market by using some instruments of blockchain technology’s core facets such as direct peer-to-peer transactions, smart contracts and immutable data recording. The ‘private’ blockchain platform will be constructed on enterprise blockchain software Hyperledger Sawtooth and will use Intel as a technology partner to coify transaction data and save it private within the platform, among participants of a transaction. Accenture will head the joint-effort by processing the project, adopting it into the current systems and providing cybersecurity consulting to the further safety of the platform.

TASE specifies that the platform will support a ‘one-stop-shop’ for all ways of securities lending activities that will also be able to serve large volumes of safe transactions in faster timeframes as well as ‘operating in shorter-term positions’. The blockchain platform will also assist to decrease costs significantly for custodians and their customers. 

The Blockchain technology will present a new level of safety for securities lending and will support growth for transactions based on this new platform.
Ittai Ben-Zeev,
Chief Executive, TASE

The elaboration of the blockchain platform will first display an initial proof of concept (PoC). A wider deployment of the blockchain-based lending platform for the real-world will be promoted.

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   125

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.