EU will use blockchain against odometer tampering

European Parliament published this in a report Odometer tampering: measures to prevent it
23 November 2017   662

The study highlights the technological developments and IT solutions which could help combat the problem with odometer tampering in the European Union. This problem surge with all second-hand car markets of the EU Member States. According to study 10-50% from second-hand cars have odometer tampering. The EU losses several billion euros every year from the rollback of vehicles’ mileage.

The EU suggests that the blockchain technology would allow downloading mileage and GPS data from vehicles, and securing it on a ‘digital logbook.’ The use of cryptography would provide users with a high level of protection, integrity, and control of data and certification’s date.

EU identified three types of control measures: using of the distributed ledger, identifying a standardised common framework of reference which based on ISO, and equipping a vehicle’s electronic control units (ECUs) and components with specific technical solutions.

Karpeles to Face Another 10 Years in Jail

Japanese enforcements agencies blamed Mt. Gox CEO in stilling $3M
12 December 2018   33

Japanese prosecutors blamed the head of the already inactive exchange Mt. Gox Mark Carpeles in embezzling 341 million yen ($ 3 million) from a bank account trading platform. The prosecutors made the corresponding statement in the Tokyo District Court, demanding 10 years of imprisonment for Karpeles, reports The Mainichi.

[Mark Karpeles] diverted company funds to such uses as investing in a software development business for personal interest" and "played a great role in totally destroying the confidence of bitcoin users.

Japanese prosecutors

It is noted that in September-December 2013, the head of MtGox allegedly transferred funds to personal bank accounts, and then invested in the software development business.

Carpeles is also accused of faking the data of the trading system of the exchange for the fabrication of balance sheets.

The deadline for accepting applications from affected investors as part of the civil rehabilitation of Mt. Gox has been extended until the end of December.