Thai Banks to Launch Common Blockchain Platform

Blockchain will be used for guarantee letters issue
20 March 2018   512

14 banks from Thailand announced the establishment of the Thailand Blockchain Community Initiative, which will digitize warranty letters on a common blockchain platform. This is reported by Nikkei.

Leading banks of the country, including Bangkok Bank, Krung Thai Bank, Siam Commercial Bank and Kasikornbank, will join the initiative. As a technical basis for the project, it was decided to use Hyperledger Fabric from the Linux Foundation.

With this infrastructure sharing, banks do not need to invest on their own. Interoperability enhances efficiency, reduces costs in our financial sector and addresses the needs of the consumer and the business sector.
 

Veerathai Santiprabhob

Gov., Bank of Thailand

It is noted that the blockchain platform of the new organization was first launched by Kasikornbank in cooperation with IBM in July 2017.

In Thailand, the issuance of letters of guarantee that fix the payment obligations of customers, can take several days. Digitizing these documents and transferring them to a blockchain can reduce this time to as little as 30 minutes.

The participation in the project will also be accepted by the Electricity Generating Company of Thailand and Siam Cement Group. The testing of the new system will take place in a special "sandbox" of the Central Bank of the country.

Ethereum VM May Have Vulnerability

The vulnerability is reported by NettaLab Twitter account
12 November 2018   65

On November 9, a statement appeared in Netta Lab’s Twitter account that the organization discovered a vulnerability in the Ethereum virtual machine that allows to execute smart contracts endlessly without paying for gas online. The researchers also allegedly turned to the operator of the American database of vulnerabilities, where they registered the corresponding discovery.

Netta Labs discovered an Ethereum EVM vulnerability, which could be exploited by hackers. The vulnerability can cause smart contracts can be executed indefinitely without gas being paied.
 

Netta Lab's Twitter

At Netta Lab's request, Google demonstrates the site of the netto.io project, which specializes in auditing smart contracts under the Netta Lab brand, but the Twitter accounts of the projects do not match. Note that the profile that reported the vulnerability was registered in November.

Many users expressed doubts about the authenticity of the information that appeared, but then the creator of the NEO project Da Hongwei said that he spoke with the CEO of Netta Labs and asked the researchers to audit the NEO virtual machine.

Nevertheless, Vitalik Buterin wrote on Reddit that this is a vulnerability in the Python-implementation of the virtual machine, which was first reported on GitHub 9 days ago. This means that the main clients (go-ethereum; parity and cpp-ethereum) are not affected.