Weekend News – A Russian scientist arrested for cryptocurrency mine at a nuclear laboratory | Chinese authorities will increase the measures taken against ICO | CME patents a system for changing blockchain rules

Weekend News – A Russian scientist arrested for cryptocurrency mine at a nuclear laboratory | Chinese authorities will increase the measures taken against ICO | CME patents a system for changing blockchain rules

Ministers from Germany and France are asking for cryptocurrency at the G20

Several senior officials from France and Germany are asking the G20 to talk about cryptocurrency before the next month’s forum.

In a letter to the Argentine government – currently presiding over the event – French finance minister Bruno Le Maire and German finance minister Peter Altmaier and central bank governors in both countries have voiced concerns about the impact of cryptocurrency . They wrote that “digital coins could pose serious risks to investors.”

It remains to be seen what kind of regulations might follow after these discussions. In the letter, they mentioned “appropriate measures”.

We believe there are new opportunities from the chips and technologies behind them,” the group wrote in the open letter. “However, they pose substantial risks to investors and may be vulnerable to financial crimes if we do not take appropriate action. In the long run, there may also be risks to financial stability. ”

The group has been working on this release for several months. Last December, Le Maire announced that it intends to appeal to authorities in other countries. Earlier this month, US Treasury Secretary Steve Mnuchin told the congress that he was in favor of the move.

A Russian scientist arrested for cryptocurrency mine at a nuclear laboratory

It seems that more Russian scientists working at the weapons research center have been arrested for mining cryptocurrency at work.

The news was reported by Interfax and the BBC, indicating that scientists were handed over to the Security Service after they were discovered.

There have been unauthorized attempts to use the equipment for private purposes, including the so-called mine,” said a representative of the Institute for Scientific Research for Experimental Physics.

It seems scientists have used a supercomputer at the research center to mine. Mining is a consuming energy process whereby new transactions are added to the blockchain. For this activity, the miners are rewarded with cryptocurrency. The security department received an alert that the computer was connected to the Internet. For security reasons, such computers are usually kept offline.

Interfax added that scientists will bear the criminal consequences for their deed.

The Institute was founded in 1947 and is famous because the Soviet Union produced the first nuclear bomb here.

Chinese authorities will increase measures against ICOs

An association that has the support of the banking and security sector in China promises to pursue more closely the cryptocurrency and initial currencies (ICO) in 2018.

At the annual meeting on February 9, the National Internet Finance Association (NIFA) revealed that it has made special efforts to oversee the sector in 2017. They expect that in 2018 cryptocurrency activities will be part of the association’s agenda .

Special monitoring projects in 2017 include the issuing of warnings related to virtual coins, ICO’s and ICO’s” disguised “ones. Further on, 2018 will be an important year for the association to normalize and standardize efforts on such projects, “NIFA said.

Although it is a self-regulatory organization, not an authority, NIFA was launched in 2015 by the People’s Bank of China, in collaboration with the Banking and Security Committee. It was approved by the State Council, the administrative authority of China.

NIFA has been funded to monitor projects that spawn a new Internet finance course, such as peer-to-peer loans and cryptocurrency. The latest NIFA initiative shows how the association plans to take a more rigorous role in monitoring cryptocurrency-related activities.

The move comes after NIFA warned the audience about the subject, both in 2017 and 2018. The association gave a serious alert to ICOs on September 1 last year, just three days before the People’s Bank formally forbid blockchain.

CME patents a system for changing blockchain rules

It seems that the CME Group is studying a method for developers to be able to modify the blockchain rules without the need for consensus from all nodes in a network, as a new patent record shows.

There is an important need for such systems, such as loyalty points for companies that give vouchers on blockchains or other applications where the blockchain is used to store and maintain real-time information. Patent registration was published on Wednesday by the Office of Trademarks and Patents, after it was submitted in December 2016.

CME talks about airline loyalty programs as an example where such a system would be needed. If an airline chooses to store frequent flyer data on the blockchain, it must have implemented a process of changing the blockchain rules if they want to change rules or other aspects of the program.

The application notes that public blocks are important for cryptocurrency, but their nature makes them less ideal for commercial and private use, because protocol rules are hard to change.

An example of such rule changes is whether an airline wants to change transaction fees to transfer loyalty points between customers. If the company uses an open blockchain protocol, like the bitchain, where all users are nodes or miners, the increase in commissions must be approved by blockchain users. The change would require all nodes and miners to update the software before the change of rules takes effect. Otherwise … there may be a bifurcation.

Documents submitted are the most recent copy of copyright for a blockchain technology. CME has also registered patents in the past suggesting that the company is seeking to use technology to store and manage transaction data.

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