Will the 'currency' of personal data win over Bitcoin?
Money isn't what it used to be, writes Minyanville macroeconomics regular "Professor Pinch." And it probably won't ever again be what it used to be. In a column published Wednesday, the professor begins by noting that Bitcoin is currently "big" simply because "it's never been done before." Part science fiction, part gold, Bitcoin, he writes, appeals to "folks who mistrust government, central banks, and well, pretty much most of the rest of the world." Both gold and Bitcoin reflect a "me, here, now" philosophy, the professor writes. The problem with both those commodities, though, he notes,....
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ID3, founded out of the MIT Media Lab, has teamed up with nearly two dozen leading digital currency firms to announce the Windhover Principles. ID3 is a research and educational nonprofit with a mission to develop a new social ecosystem of trusted digital institutions. The Windhover Principles constitute the next step forward in this direction and provide a new framework written by public and private stakeholders to ensure personal identity and data on the web. The Windhover Principles for Digital Identity and Trust are deeply rooted in the belief that individuals should have control of....
Developing self-sovereign identity should be a leading priority for every company, legislator and investor engaged in the security industry. To navigate well in a digital world, we must be able to easily and securely establish our digital identity. Traditionally, a username, password and some trivial arcana like our first pet’s name have been key pieces of information held by institutions to establish our digital identity. Unfortunately, this system has come at a high cost.Trusting third parties to securely hold our personal data is a risky — and often losing — proposition. The number of....
The European Court of Justice declared the Safe Harbor agreement between the EU and the US invalid on October 6, 2015. This ruling will affect U.S. companies like Facebook, Apple, Google, Microsoft, Amazon, and thousands of others. According to this judgment, these companies may now be ordered to suspend the transfer of data from Europe to servers in the....
A hacker claims to have stolen the personal data of a billion Chinese citizens from the Shanghai National Police (SHGA) and is selling it for 10 bitcoins. “This database contains many TB of data and information on billions of Chinese citizens.”
23 Terabytes of Data on a Billion Chinese Citizens on Sale for 10 Bitcoins
An anonymous hacker has claimed to have stolen about 23 terabytes of data on a billion Chinese citizens from a Shanghai police database. Experts say that, if true, this would be one of the biggest data breaches in history.
The data is being....