OKCoin's Jack Liu Proposes Open Bitcoin Security Standards
Jack Liu is head of Institutional Development at OKCoin. On his blog, Jack Liu proposes open Bitcoin security standards and how Bitcoin companies should compete. Fundamentally, I don't believe Bitcoin companies should be in the business of convincing customers who is more secure. - Jack Liu, OKCoin. Inspiration came to Liu after watching Olaf Carlson-Wee, Head of Risk for Coinbase, discuss custodial storage of customer funds. The marketing slogans advertising wallet services have become rhetoric. Security should focus on attracting customers. It should focus on security. Compete in speed,....
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Jack Liu, chief strategy officer at OKCoin, the largest bitcoin exchange, assured customers that bitcoin is still a sound currency, despite the recent hack at Bitfinex. OKCoin keeps 95% of its deposits offline, according to Nikkei Asian Review. The theft of the 119,756 bitcoins from Bitfinex marks the second-largest security breach on a cryptocurrency exchange since Mt. Gox in 2014. Bitcoin technology remains safe, Liu said. He compared it to hearing about credit card users having their accounts hacked on the Internet; credit card users don’t assume the Internet is broken on account of....
On Friday, Star Xu, CEO of trading platform OKCoin, published his company's security policy in a Reddit thread. "OKCoin has decided to openly share [its] cold wallet security information. Through this transparency, OKCoin aims to assure users of the security of their funds," the post stated. Xu then encouraged members of the community to contribute feedback. He began by outlining the company's security design philosophy, focusing on key vulnerabilities inherent in Internet connections, USB drives and reliance on centralized management. He went on to explain how the company's security....
OKCoin's new superwallet allows bitcoin as a background method of money transfers not only across borders, but across currencies as well. Jack Liu, head of international at OKCoin, recently discussed bitcoin in China and as an alternative payment system in an interview with Bloomberg Business. Liu referred to the dramatic price crash of bitcoin in 2013 as a good thing, because it forced developers and entrepreneurs to think of creative applications of bitcoin and its underlying blockchain technology instead of focusing uniquely on the price of bitcoin. As a result, there are now large....
Scallop will help create awareness and drive the adoption of the PCI Security Standards. A council formed by traditional finance conglomerates American Express, Discover, Visa and Mastercard welcomes a decentralized finance (DeFi) banking firm to its participating organizations that help improve payment data security worldwide.Scallop, a regulated DeFi banking app recently announced its entry to the PCI Security Standards Council (PCI SSC), a global community with a goal to improve payment data security worldwide. According to the DeFi firm, it will be working with the PCI SSC by assisting....
OKCoin has officially updated its mobile Android trading app to include futures trading and new candlestick charts. The new product launch brings features available on OKCoin.com to mobile app users, including 10x leverage on all trades, a profit calculator and bi-weekly, weekly, monthly and quarterly contract types. In an interview, OKCoin international marketing manager Zane Tackett indicated that the China-based company believes the product will appeal to serious traders who need the ability to manage their positions on-the-go and at all times. Tackett told CoinDesk: "It can be a....