Italian Government interested in Blockchain and Cryptos

A number of countries are aimed to have a vibrant DLT ecosystem and Italy is not left behind: it created a working group to take care of blockchain and cryptos
17 June 2018   234937

The working group is operating in Naples and beyond. The Naples authorities declared that volunteers were welcomed from all over the globe to help the working group in “developing and implementing objectives related to blockchain technology.” The demand was well gained by scholars, blockchain developers and enthusiasts from around the world and about 300 of them entered the group.

The Naples mayor`s associate, Felice Balsamo confirmed that since December 2017 the blockchain project has been in the works, when the price of bitcoin hit an all-time high of $20K. Presently, the officials of the project are dividing the entire focus group into small chunks joining people with various skills and disciplines. The entire focus group connects volunteers who are students, legal luminaries, engineers, developers, accountants and more.

The major object of all the cells that make up the working group is to brainstorm and making blockchain solutions which would be able to enforce transparency in different areas of the administration including elections, birth records, and the entire economy. As a resolve is developed, volunteers will now deploy their startups in the region about the advantages of adopting such systems while encouraging small and medium enterprises to accept payments in cryptocurrencies.

Combining traditional economy with a new economy based on cryptocurrencies could lead to a huge economic potential for over 3.5 million residents of the metropolitan city of Naples.
Luigi de Magistris,
The Mayor, Naples

Italy is defined to join the league of nations championing the crypto revolution, beginning with Naples. If things go well, in a few years time, Italy will become a crypto hotbed in Europe.

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   93

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.