S. Korean Capital to Launch Own Crypto

S-Coin will be used in city-funded social benefits programs
03 April 2018   491

Mayor of the capital of South Korea Park Won-soon announced plans to create a crypto currency called S-Coin, which will be used in urban social assistance programs. In addition, a special fund will be organized in Seoul to support the development of blockchain technologies and related start-ups, CoinDesk reports.

As Seoul is the world's leading city in the field of information and communications, including the Fourth Industrial Revolution, I think we should study new technologies such as blockchains. Blockchain can be applied to all bureaucratic administrations in Seoul, such as the public transport system system operated by Seoul City and the provision of youth allowance.

Park Won-soon

Mayor, Seoul

Won-soon also noted that S-Coin will be used as a method in urban social security programs for civil servants, young applicants and citizens who help the environment by saving energy, water and gas.

In order to make an S-Coin, we need to prepare institutional and legal support such as bylaws. I've met blockchain companies, and I think our companies are not seeing the light because of the various regulations. Actually, [the] technology is as advanced as any other country. By creating clusters that will allow blockchain companies to build up, and startups to develop new technologies, we are working to develop and spread blockchain technology around the world.

Park Won-soon

Mayor, Seoul

At the end of last year, the "daughter" of the South Korean electronic giant Samsung SDS announced the development of a blockchain-platform for the public sector of Seoul.

Ledger Team to Find Issue in New Nano S Software

Last update's security improvements have affected the amount of device memory
15 February 2019   114

Ledger hardware wallet developers stated that an unforeseen problem was found in software version 1.5.5 for the Nano S model. Improvements in the security context have affected the amount of device memory.

When planning for this update we didn’t anticipate the impact it would have on Ledger Nano S capacity. This was not planned obsolescence, simply put, we messed up. We apologize and we’re committed to making it right.

Ledger Team

The project team apologized for the incident and promised to fix the problem during the second quarter of 2019.

The project also announced the addition of Nano S support in the Ledger Live mobile app on Android.

Earlier, researchers at Wallet.fail discovered a number of vulnerabilities in the Trezor and Ledger hardware cryptocurrency wallets. As a result, they were able to conduct a series of successful attacks on wallets during the Chaos Communication Congress in Leipzig.