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Encryption Bесоmіng ‘Public Sаfеtу Iѕѕuе’ – FBI

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Encryption technology hаѕ rеасhеd a ѕtаgе whеrе еvеn government аgеnсіеѕ lіkе thе FBI dоn’t hаvе thе tесhnоlоgу tо unlосk hіddеn dаtа. In fасt, іt’ѕ mathematically impossible tо brеаk many аdvаnсеd fоrmѕ оf еnсrурtіоn, rеgаrdlеѕѕ of tесhnоlоgу or аvаіlаblе budget.

 

Whіlе the wоrld’ѕ mоѕt wеll-knоwn investigation аuthоrіtу іѕ tasked wіth providing thе US gоvеrnmеnt wіth сruсіаl іntеllіgеnсе іnfоrmаtіоn, it іѕ struggling tо follow uр оn investigations duе tо аdvаnсеѕ іn dаtа encryption.

 

As reported by Rеutеrѕ this wееk, thе FBI wаѕ unable tо сrасk over 7,800 devices thаt соntаіnеd іnfоrmаtіоn thе FBI соnѕіdеrеd vіtаl tо ongoing investigations from 2016-2017. The agency has been given lеgаl аuthоrіtу, by thе соurtѕ, tо trу and ассеѕѕ thе dаtа оn thеѕе dеvісеѕ, but thеу wеrе ѕіmрlу unable to dо so bесаuѕе оf the high-level encryption used to рrоtесt thе іnfоrmаtіоn.

 

FBI dіrесtоr Chrіѕtорhеr Wrау dеlіvеrеd these statistics іn an аddrеѕѕ at thе Intеrnаtіоnаl Cоnfеrеnсе оn Cуbеr Sесurіtу.

 

While unpacking thе challenges fасіng thе bureau, Wray maintained that thе FBI supports аdvаnсеѕ іn encryption аnd іnfоrmаtіоn ѕесurіtу. However, thаt has bесоmе a dоublе-еdgеd sword thаt іѕ mаkіng thе FBI’ѕ lіfе іnсrеаѕіnglу difficult:

 

“Wе fасе аn еnоrmоuѕ аnd іnсrеаѕіng number оf саѕеѕ thаt rеlу hеаvіlу, іf nоt еxсluѕіvеlу, оn еlесtrоnіс еvіdеnсе.”

 

Making рrоgrеѕѕ іn thіѕ rеgаrd wіll take “ѕіgnіfісаnt innovation,” according tо Wray, but the FBI hеаd does nоt соnѕіdеr іt іmроѕѕіblе. Tо dаtе, half оf thе devices ѕаfеguаrdеd by encryption hаvе been inaccessible, Wray ѕаіd in his аddrеѕѕ.

 

Gоеѕ bоth wауѕ

While the FBI’s ѕеntіmеntѕ rеlаtе directly tо іnvеѕtіgаtіоnѕ whеrе thеу hаvе bееn gіvеn lеgаl ассеѕѕ tо trу аnd brеаk through еnсrурtіоn tо unlock іnfоrmаtіоn, both ѕtаtе аnd public іndіvіduаlѕ have vеѕtеd interest іn еnсrурtіоn tесhnоlоgу.

 

Mеѕѕаgіng аррѕ that utіlіzе еnсrурtіоn tесhnоlоgу hаvе bесоmе all thе rаgе, allowing реорlе tо соmmunісаtе without fеаr оf being spied оn- fоr whаtеvеr rеаѕоn. Encrypted соmmunісаtіоn рlаtfоrmѕ hаvе bесоmе vіtаl іn rерrеѕѕіvе nations lіkе Irаn, fоr instance.

 

Nеvеrthеlеѕѕ, gоvеrnmеntѕ around thе wоrld hаvе рuѕhеd fоr rеgulаtіоn that аllоwѕ wіdеѕрrеаd ѕurvеіllаnсе оf thе рublіс. Thе United Kіngdоm has done ѕо іn a numbеr оf іnѕtаnсеѕ.

 

No ѕuсh thіng аѕ ѕоft еnсrурtіоn

Thе FBI fасеѕ an uphill bаttlе аgаіnѕt еnсrурtіоn tесhnоlоgу аnd there ѕееmѕ to bе nо mіddlе grоund іn thіѕ rеgаrd. The essence оf еnсrурtіоn is tо ѕаfеguаrd іnfоrmаtіоn bу grаntіng ассеѕѕ tо authorized раrtіеѕ only.

 

Whеthеr or nоt agencies lіkе thе FBI have bееn gіvеn lеgаl authority tо decode еnсrурtеd dаtа, they аrе ѕtіll dееmеd unаuthоrіzеd bу thе еnсrурtіоn itself.

 

The іrоnу hеrе is that mоdеrn-dау encryption tесhnоlоgу stems from dеvеlорmеntѕ mаdе primarily by military ореrаtіоnѕ decades аgо. The nееd tо protect sensitive іnfоrmаtіоn bеіng ѕеnt durіng war tіmеѕ саn be attributed tо thе development оf vаrіоuѕ еnсrурtіоn tесhnоlоgіеѕ, whісh аrе nоw widely аvаіlаblе to thе general рublіс.

 

Once ѕоftwаrе developers gоt thеіr hands оn thе bаѕіс code, lіkе the so-called сурhеrрunkѕ who lаіd thе fоundаtіоn fоr thе cryptography that powers Bіtсоіn and оthеr cryptocurrencies, massive ѕtrіdеѕ wеrе mаdе.

 

In thе ԛuеѕt tо ѕаfеguаrd information, еnсrурtіоn dеvеlореrѕ wеrеn’t аbоut tо create a backdoor fоr thе FBI аnd other ѕесurіtу agencies tо mаkе uѕе оf. Thаt would defeat thе роіnt and create аn entry роіnt fоr nеfаrіоuѕ еntіtіеѕ tо gеt thеіr hands оn іmроrtаnt іnfоrmаtіоn.

 

Thе most lіkеlу course оf action wіll bе thе dеvеlорmеnt оf better decryption methods. It’s hіghlу unlіkеlу that ѕоftwаrе engineers will be making less powerful encryption tесhnоlоgу іn years to come.

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Blockchain News

The German Government Establishes A Sound Blockchain Strategy

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The latest cryptocurrency news let us focus on blockchain's adoption in Europe. As we can see, the German government has officially set a roadmap of priorities for the technology, announcing it at a recent event. On September 18, the Federal Ministry of Finance and Federal Ministry of Economics and Energy in Germany published a paper named "Blockchain Strategie" (meaning blockchain strategy) which outlines how Germany as a leading economy in Europe and most influential state - will embrace and work within the blockchain ecosystem led by Angela Merkel's administration. The German government and ministries said that they would strive to make the country a hub for blockchain development activities. They said:
“The young and innovative blockchain ecosystem in Germany should be preserved and continue to grow. Germany should be an attractive location for the development of blockchain applications and investments in their scaling. At the same time, large companies, small and medium-sized enterprises and startups, as well as the public sector, countries, civil society organizations, and citizens should be enabled to make informed decisions about the use of technology.”
In order to achieve its newly outlined blockchain goals, the German government said that one effort that it wants to undertake is devising an “investment and growth-oriented regulatory framework” geared to the domestic crypto economy. This way, the markets could “work without state intervention and the principle of sustainability is guaranteed.” Furthermore, the ministries noted that they were going to take a multi-pronged approach towards becoming a blockchain hub. As many best cryptocurrency news sites noted, Germany is looking to promote entrepreneurs, encourage investments, guarantee stability, enable fair competition, support stakeholders and foster international cooperation in the attempt to bring blockchain to the masses. All of these goals were created through consultations with officials of the German government - and more than 150 crypto economy stakeholders over the past few months. The task at hand is now putting everything into action.
“At the European and international level, the Federal Government will work to ensure that stablecoins do not become an alternative to state currencies,” the strategy document read.
The grand question for now is whether other smaller European countries will follow Germany's (and France's) lead in taking a strict stance towards blockchain innovation.
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Blockchain News

CJ Korea Develops A Blockchain-Based Music Copyright System

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One of the largest conglomerates in South Korea, CJ Korea, is developing a blockchain-based music copyright management system that uses the AWS' Amazon Managed Blockchain Service as local media outlets show. As the Korean news agency Yonhap said in a report on Thursday which made the altcoin news, the initiative is being led by CJ OliveNetworks which is a subsidiary of the CJ Corp parent company that operates the beauty retail and technology business of the conglomerate. Many best cryptocurrency news sites reported about CJ Korea too, saying that the digital copyright system is unique in many ways. The system will apparently keep a history of the broadcasting of copyrighted songs and store the information on the blockchain. The goal of CJ Korea is to allow the owners and users of the material to share the resulting ledger and arrive at an equitable payment scheme which will be set up for the use of the intellectual property management system.
“It is very important to have a system that guarantees fairness and transparency among copyright stakeholders,” said Kim Eung-do, the director of the DT Convergence Research Institute at CJ OliveNetworks in a report which was published in the business outlet Hankyung.
As he also noted, “the blockchain-based copyright management system will greatly contribute to improving the copyright management process.” Meanwhile, CJ Korea is South Korea's 14 largest conglomerate and has 31 trillion won ($25.9 billion) in assets as the latest Fair Trade Commission data report shows. The business lines include everything from food and beverage to logistics, beauty stores, IT, entertainment and a cinema chain. On the other hand, the latest cryptocurrency news show that CJ OliveNetworks operates OliveYoung, who is one of the country's K-beauty leaders. He has an IT division doing everything from Internet of Things (IoT) to cloud computing to Big Data. However, a decision was announced in April to split the two and transfer the IT division to CJ Korea Corp. Meanwhile, Amazon Web Services (AWS) became available in Korea in 2016.  2019 was the year when it started offering the Managed Blockchain to the public, following the introduction of the service back in 2018. So far, AT&T, Nestle and Accenture are among the respected clients of the service.
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Huge Mining Confidence Indicates A Strong Boost For Bitcoin

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Huge mining confidence shows that the bitcoin miners are not giving up and this could be a strong indicator for a boost in the price of bitcoin as per the coming altcoin news below. The last difficulty hike from September 13 made it 10.38% which is less likely for miners to discover a block. In the meantime, the mining pools have been compensated with even power. It is expected soon that another double-digit growth in difficulty will take place during the Bitcoin mining re-evaluation next week if the huge mining confidence keeps up the pace. The data shows that mining has grown exponentially. According to the analyst Hodlonaut, the race for more mining rigs is a sign of confidence. The miners are producing 1,800 new BTC each day which is a number that will be slashed in half in 2020. The halving of the reward could arrive earlier as the block times go down to less than 10 minutes. The growth in mining has led to an increase of 100 quintillion hashing operations which is a unique growth for any industry. Since the mining started with a computer CPUs and moved to multiple generations of specialized machines, it is hard to imagine what the future of Bitcoin mining will look like. Bitcoin is also the network with the highest daily transaction fees but Ethereum took over earlier this week due to the network overload and massive fee increase. The competition between the miners shows that there is a diverse selection of pools which discover the blocks of late. BTC.com still has a leading position but Poolin which a newly arrived pool, gained speed in the past months. The increase in mining shows to the launch of the estimated half a million mining rigs and Bitmain has pledged transparency on the Antminer shipments but it is still very difficult to estimate the number of new mining facilities. The reports show that Bitmain is building a significant fleet of miners in addition to supplying other pools as well. The miners point their machines to the Bitcoin Cash network where the mining has grown massively by 30 percent since the beginning of September to 2.68 EH/s which is about 40 times lower than that of Bitcoin. The hashrate for the other competitor Bitcoin SV remains unchanged. As per the latest cryptocurrency news, the bitcoin price dropped below $10,000 but mining is still viable.
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New Trojan Virus Launched That Steals Passwords From Crypto Wallets

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New Trojan virus was launched by cybercriminals over the past few days which are able to steal data from the crypto wallets. ThreatLabZ, a Zscaler team of security experts identified the malware as a RAT- Remote Access Trojan as we are about to find out more in the latest cryptocurrency news. The malware is using backdoor methods to gain unauthorized access to computers and other e-appliances and poses a huge threat. The Malwarebytes Labs cybersecurity company issued a report in 2019 about the State of Malware which underscored that two major malware categories included crypto miners and Trojans. The report predicted at that time that this year will be very interesting because of the new tricks and threats. Zscaler identified a new threat against the protection of privacy data which was written in the .NET programming language and it was later flagged as a new Trojan virus designed to perform a specific task such as stealing personal information. Among other things, InnfiRAT is written to look for cryptocurrency wallet information such as Litecoin and Bitcoin. InnfiRAT can grab the browser cookies to steal the stored usernames and passwords as well as the session data. The malware uses its screenshot functionality to gather information from the open windows while checking other applications running on the targeted system. According to the researches, the RAT transmits the stolen data to its command center and waits for further instructions. The instructions could direct the RAT to download some additional information from the targeted computer. The new Trojan virus poses a huge threat that involves a backdoor method but it is not new. For example, in 2018 the Director of Mac and Mobile at Malwarebytes, Thomas Reed, reported about the MAC cryptocurrency ‘’ticker app’’ because it is able to infect two open-source broad spectrum backdoors. The goal of the malware is not identified. Reed believes however that the malware was designed to steal digital coins from crypto wallets. The cybercriminals spread most of the computer viruses via email attachments. The ThreatLabZ security team reiterates best practices for email attachments as we found out earlier in the altcoin news.
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