Blockchain Uber ran by China`s Ride Hailing Didi Chuxing

Co-founder of the Didi Chuxing ride-hailing company, Weixing Chen is cooperating with Yang Jun, co-founder of Meituan, local services firm for a blockchain app
29 May 2018   341

Didi Chuxing is estimated at close to $60 billion, and is searching an IPO at a higher evaluation. The ride hailing app will work as a platform to suggest ride hailing, delivery and other services. Yang Jun, interviewed at the China International Big Data Industry Expo 2018 at Guizhou, claimed the value of blockchain is built on whether or not people can really use it. According to the investor, blockchain technology can be used to develop different economic systems, such as tracking traffic from the Internet and providing additional services that meet users’ needs. 

Meituan joined Dianping, a peer review site, in 2016 to form Meituan Dianping, which is presently estimated at about $30 billion. Weixing Chen, being interviewed on the matter, declared that rail hailing will be the first mass test of blockchain on a social application. He also founded Hangzhou Fun City, that according to VB Profiles provides Internet games and mobile internet applications, and has invested in blockchain. Other ride hailing firms have announced investment in fintech and blockchain technology.

An Indonesia based firm, Frasindo, ran a coin earlier this year that will let the users to download an app that allows them to view cameras that track the vehicles and also view the onboard cameras. Frasindo partnered with ride-sharing companies in Indonesia.

Southeast Asia’s biggest ride-hailing platform, Grab, based in Singapore, last year reported about its plans to invest $700 million to bring accessible financing options for the Indonesian public to support Grab’s development plans in addition to providing loans for purchasing vehicles and smartphones.

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   120

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.