Centre mulls Bitcoins normshttp://www.deccanchronicle.com/business/economy/220517/centre-mulls-bitcoins-norms.html
A week after hackers behind biggest cyber attack WannaCry demanded ransom in bitcoins, Centre has asked public wether such virtual currencies should be regulated or banned. Currently there is no regulation on such currencies in India.
Bitcoins are first currency of choice in underground activities as they are practically untraceable. But recently people have started using it globally for trading, shopping and for investment purposes after its value hit all-time high.
The prevalence of Bitcoins has caused some concerns in government due to its hidden nature.
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Why has Bitcoin gained 350% of its value in just 12 monthshttp://blogs.economictimes.indiatimes.com/et-commentary/why-has-bitcoin-gained-350-of-its-value-in-just-12-months/
It isn’t a currency most of us are familiar with. But it exists, and continues to thrive as the world economy wobbles and hackers threaten to steal or cripple valuable data. Bitcoin, the world’s most popular cryptocurrency, is having its hottest rally this year, surpassing $1,900 for the first time since it came into existence in 2009. According to reports, in the past 12 months bitcoin has gained 350 per cent in value.
There are several reasons for its recent spurt in growth — from politics in the US and Brazil to the WannaCry ransomware attacks. Whatever be the reasons for this newfound love for the cryptocurrency, people dealing with bitcoins are aware that the bitcoin is as safe as the ozone layer is to chlorofluorocarbons emissions — in other words, it is a risky, unregulated and uninsured cryptocurrency.
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Bitcoins gain currency, used for trading by over 200 city investorshttp://timesofindia.indiatimes.com/city/hyderabad/bitcoins-gain-currency-used-for-trading-by-over-200-city-investors/articleshow/58771316.cmsThis virtual form of money may have gained currency after the `Wannacry' ransomware attacks, but for a growing tribe of investors in 'cyber city' bitcoins have been a preferred mode of trading over the past year or so.While past incidents of ransomware attacks in the city have compelled many local companies to hoard bitcoins (it is difficult to procure a large amount of bitcoins at short notice, especially for a new entrant as trading is trust based), Hyderabad now also boasts of nearly 200 individual bitcoin investors, a 40% jump over last year, say cyber experts.
Though most bitcoin inves tors have a tech background, others too are making a beeline."There might be just around 200 investors here but volume of the trade runs into several crores. From housewives to businessmen, tech enthusiasts and even conventional stock market traders are investing," said Anish Dundoo, founder of a crypto currency startup also into bitcoin trading. And despite the `Wannacry' episode sending the value of bitcoins spirall ing by `30,000 to `40,000 in just two weeks, the number of takers is on the rise because of the thrill of making a quick buck (bitcoins bring high returns).
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Bitcoin at all time high of $1,900, expected to growhttp://www.deccanchronicle.com/technology/in-other-news/210517/bitcoin-at-all-time-high-of-1900-expected-to-grow.html
Bitcoin is soaring to a new high after hitting a peak of $1,939 per coin recently. At this point, it wouldn’t be surprising to see BTC reaching $2,000 in the next few days. Bitcoin is smashing record after record, after reaching $1,800 just a few days ago.
The hike is believed to be connected with the political uncertainty which is currently impacting global currencies, which in turn, pushed people towards digital currencies instead of traditional ones.
According to Coinmarketcap, Bitcoin's market cap reached $32.161 billion today after moving $989.952 million in the past 24 hours. Today's high is a 7-point gain over the past week, with more than $4 billion being added to its market cap.
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Bitcoin close to conquering $2000, shakes off negative publicity from WannaCryhttp://www.moneycontrol.com/news/world/bitcoin-close-to-conquering-2000-shakes-off-negative-publicity-from-wannacry-2284263.html
In a series of new all-time highs, the price of bitcoin hit a new peak of USD 1,944 on the CoinDesk Bitcoin Price Index (BPI) on Friday.
The digital currency has appreciated more than 90 percent since the start of 2017 and is close to breaking the USD 2,000 mark. The market cap of bitcoin is now over USD 31 billion.
Gone are the days when negative news used to hammer the price of bitcoin. Despite facing flak for being the preferred mode of payment for the WannaCry ransomware attack, the price is rising and governments are understanding that the virtual currency is not something to be feared but rather understood.
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DTCC on track for Q1 2018 blockchain CDS reportinghttp://timesofindia.indiatimes.com/business/international-business/dtcc-on-track-for-q1-2018-blockchain-cds-reporting/articleshow/58751321.cmsThe Depository Trust & Clearing Corporation plans to go live in the first quarter of 2018 with its blockchain-driven platform for credit default swaps reporting.
The digital ledger platform will initially launch in shadow mode, operating alongside existing infrastructure.
In conjunction with fintech partners Axoni, IBM and industry consortium R3, the post-trade infrastructure provider began work in January to rebuild its Trade Information Warehouse, which handles reporting on US$11trn of CDS notional, with a permissioned ledger.
The initial launch comprises an internal replacement of DTCC's mainframe processing system but the multi-step process aims to deliver widespread simplification of transaction reporting across the swaps market, potentially changing the role of trade repository operators altogether.
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How to Buy and Sell Bitcoin in Indiahttp://gadgets.ndtv.com/internet/features/bitcoin-buy-india-sell-exchange-fees-safety-wallets-1695025
This week, you'e probably heard about Bitcoin, a digital currency that has been growing in popularity over the last few years. Bitcoin was recently in the news because of the ransomware WannaCry. The Wanna Cry cyber attacks were one of the biggest attacks of this sort, affecting computers in countries around the world; and the hackers demanded payment in Bitcoin because Bitcoin transactions are practically untraceable.
Bitcoin may be the currency of choice in the digital underground, but there are plenty of legitimate reasons to considering Bitcoin as well. It's a good investment for one, as the value of Bitcoin has gone up significantly over the years. Bitcoins are also used for online trading, remittances, and it has other uses too, like simply shopping for stuff.
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Bitcoin's murkier rivals line up to displace it as cybercriminals' favouritehttp://www.dnaindia.com/technology/report-bitcoin-s-murkier-rivals-line-up-to-displace-it-as-cybercriminals-favourite-2443546
Bitcoin is well-entrenched as the preferred payment for cybercriminals like the WannaCry hackers who have hit more than 300,000 computers over the past week, but cryptocurrencies offering more anonymity are threatening to displace it.
A key reason for bitcoin's dominance in the nefarious online underworld, say technologists and cybercrime experts, is its size - the total value of all bitcoins in circulation is more than twice that of the nearest of hundreds of rivals.
That makes it easy for victims to access enough to pay the ransoms demanded, and for hackers to cash out of it via online exchanges to spend money in the real world.
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Zensar Technologies launches Blockchain Enablement Frameworkhttp://economictimes.indiatimes.com/tech/ites/zensar-technologies-launches-blockchain-enablement-framework/articleshow/58732403.cms
RPG Group IT firm Zensar Technologies has launched a Blockchain Enablement Framework. This is designed to address challenges in the context of financial transactions undertaken using digital platforms.
Sandeep Kishore, Chief Executive Officer, Zensar Technologies said, “It is our endeavor to introduce solutions that offer clear 'Return on Digital' benefits to global enterprises that are looking for success from their digital transformation initiatives. Our blockchain framework aims to bring in the business-led consulting approach to a critical area for any financial or non-financial company looking to resolve real business problems. The team is well-versed working with this path-breaking technology led offering to bring about significant outcomes for our customers worldwide.”
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After WannaCrypt, world faces massive cryptocurrency attackhttp://indianexpress.com/article/technology/tech-news-technology/after-wannacrypt-world-faces-massive-cryptocurrency-attack-4661640/
After facing a massive “WannaCrypt” ransomware attack that exploited a vulnerability in a Microsoft software and hit 150 countries, the same Windows vulnerability (MS17-010) has also been exploited to spread another type of malware that is quietly but fast generating digital cash from machines it has infected.
According to a report in The Registrar on Wednesday, tens of thousands of computers globally have been affected by the “Adylkuzz attack” that target machines, let them operate and only slows those down to generate digital cash or “Monero” cryptocurrency in the background.
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Wipro launches nine blockchain-based solutionshttp://www.business-standard.com/article/news-cm/wipro-launches-nine-blockchain-based-solutions-117051700197_1.html
Defined, designed and co-developed with clients in Wipro's Blockchain Innovation Lab
Wipro announced it has developed nine blockchain-based solutions for the Banking Financial Services and Insurance (BFSI), Manufacturing, Retail and Consumer Goods Industries. Defined, designed and co-developed with clients in Wipro's Blockchain Innovation Lab, these solutions demonstrates what block chain can accomplish for global enterprises.
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The bitcoin bug bites and you just cannot ignore ithttp://www.livemint.com/Money/K9OrK1cVXKhYigwOzwpbOJ/The-bitcoin-bug-bites-and-you-just-cannot-ignore-it.html
Bitcoin, the cryptocurrency created by encryption techniques, is in the news again. Criminal hackers, who on 12 May launched one of the biggest cyber attacks ever and took networks hostage worldwide, demanded that their ransom be paid in bitcoins. There are other cryptocurrencies too, such as: litecoin, peercoin, namecoin, ether and primecoin. However, bitcoin has attracted the most interest globally. Lately, it has also been in the news for a sharp rise in its price and the stance that regulators of different countries have taken on it. Mint Money takes a look at the current state of bitcoins.
Ransomware
Last week, a computer malware attack affected digital networks across 150 countries. Governments and corporations are keeping a close watch on it, which they now know to be ransomware attack. According to Microsoft, ransomware stops you from using your computers by holding your personal computer (PC) or files for a ransom. There are different types of ransomware, but what is common among them is that all of them prevent your computer from working normally, till you pay a ransom. Ransomware can target any computer, be it a home computer, endpoints in an enterprise network, or even servers used by government agencies and healthcare providers.
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Hackers mint crypto-currency with technique in global 'ransomware' attackhttp://www.dnaindia.com/scitech/report-hackers-mint-crypto-currency-with-technique-in-global-ransomware-attack-2441443
A computer virus that exploits the same vulnerability as the global "ransomware" attack has latched on to more than 200,000 computers and begun manufacturing digital currency, experts said Tuesday.
The development adds to the dangers exposed by the WannaCry ransomware and provides another piece of evidence that a North Korea-linked hacking group may be behind the attacks.
WannaCry, developed in part with hacking techniques that were either stolen or leaked from the U.S. National Security Agency, has infected more than 300,000 computers since Friday, locking up their data and demanding a ransom payment to release it.
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Indian orgs attacked by WannaCry unwilling to pay bitcoinshttp://tech.economictimes.indiatimes.com/news/technology/indian-orgs-attacked-by-wannacry-unwilling-to-pay-bitcoins/58706427 Indian orgs attacked by WannaCry unwilling to pay bitcoinsSeveral Indian companies compromised by the WannaCry cyber-attack were unwilling to pay in bitcoins to recover their data, fearing that using the unregulated virtual currency to settle the ransom would only invite more trouble.
There’s also the matter of the three-day deadline for the ransom to be paid from the time a computer is infected. For companies not already transacting in bitcoins, that’s too short a deadline.
“Fourteen clients have reached out to me in the last three-and-half days and none of them are ready to pay up in bitcoins for the ransomware attack,” said Manan Shah, chief executive of cyber-security provider Avalance Global Solutions. “They do not feel a bitcoin is a legitimate mode of payment.”
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