Mastercard won Patent for Blockchain Bidding System

Mastercard has won a patent for a blockchain system that lets travelers to submit desired itineraries and merchants to submit bids for each service request
07 June 2018   854

Awarded to Mastercard by the US Patent and Trademark Office (USPTO), the patent is aimed to upgrade the global travel industry by connecting travelers to a wider range of hotels, airlines, and other service providers than most presently do prior to booking their itineraries - even when using services like Priceline, Kayak, and Hotels.com.

The proposed system suggests that travelers may submit particular information about their itineraries, that would then be included in a block and broadcast across the blockchain to all network-connected nodes. Merchants could then submit bids for reservation requests, that are to be estimated by a processing server and returned to the traveler.

The use of bidding can enable travel providers to make adjustments as necessary to earn business as they desire, which can also enable a traveler to receive the best possible deal with respect to each item in their travel itinerary. As a result, travelers save both time and money with respect to their travel itinerary, and travel providers are provided with greater opportunities to earn and increase revenue.
Ankur Arora
Developer of the Bidding Blockchain system

Mastercard, alongside IBM and Walmart, has been one of the most prolific investors in blockchain investigating, especially towards their intention of blockchain-related patents. At the same day that the USPTO awarded Mastercard a patent for the company’s proposed travel bidding system, the firm also won a patent for a point-of-sale system that uses blockchain technology to safely verify payment credentials.

The firm has already successfully patented a resemble system some days earlier. This framework is supposed to use blockchain wallet addresses to verify coupons and let merchants to issue targeted discounts to their clients more effictively.

Chinese Miners to Fall Victims of Ransomware

Looks like ransomware came together with "improved" firmware, that should "overclock" device
21 January 2019   79

In China, a ransomware spreads, victims of which are Bitcoin miners. The damage from its activities is measured in tens of thousands of dollars. This is reported by Trustnodes.

The virus infects miners, released by Bitmain, and requires you to send 10 bitcoins, otherwise threatening to cause overheating of the device.

The problem is solved by formatting the SD card of the infected device, however, as Trustnodes notes, the whole process can take up to four days, while malicious software rapidly spreads to the other miners.

Compromised device
Compromised device

Probably, the virus comes with an "improved" firmware for miners. Some owners install such firmware to “overclock” their ASIC devices and improve their performance.

The first messages about the virus refer to August last year. In particular, Antminer S9, T9 and even L3 + for Litecoin were attacked. Over time, the malware has been improved. Now its distributor himself can decide when to display a message requesting a ransom. One miner also said that one night the address to which the 4,000 devices belonging to him sent the mined cryptocurrency was changed to the address of the hacker, which brought him $ 8,000.