Walmart to Use Blockchain for Retail Product Resales

Blockchain based system will allow Walmart customers to resale purchased goods, when they won't need them anymore
22 May 2018   364

Walmart filed a patent application for the market for the resale of goods on the blockchain. This is reported by Coindesk.

The application describes a service that will record the purchase of customers in the registry on the blockchain, which will subsequently allow them to resell the purchased goods, using the available records, on the retailer's site.

Compilers of the application note that the client does not always intend to use the acquired item throughout its life cycle and often has to rely on its own resources for subsequent resale, and the described invention "will provide additional support and greatly simplify the process of reselling goods." As a mechanism for accessing the service on the blockchain, trading terminals, mobile devices and a web interface are offered.

Walmart draws attention to the growing competition from "non-traditional shopping mechanisms", which explains the need for retailers with a presence in the real world, to follow the development of technology and to improve the level of customer service.

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   120

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.