Big news comes from the offices of Mastercard. The financial services giant has recently won a patent for a system that uses blockchain technology in order to authenticate coupons. The patent is granted by the US Patent & Trademark Office (USPTO) on May 31st and outlines a whole new way for merchants to minimize coupon fraud and issue targeted discounts to specific customers.
How Will Blockchain Based Coupon Authentication System Work?
The system will work in a simple way. An individual will be assigned a blockchain address, whose credentials will be stored in a payment instrument such as a credit card or a digital wallet application. Every time the user attempts to redeem a certain coupon, the POS (point-of-sale) device will interface with the private blockchain network, verifying that there is authorization and that the customer can receive the discount.
The system will also automatically transfer the coupon out of the customer’s wallet and forward it into a “burn address” (an address associated with validated coupons) preventing the coupon from being used again.
Aside from tackling coupon fraud, this system according to Mastercard, will benefit consumers as well because it would eventually provide businesses with the ability to issue valuable coupons where discounts could not be counterfeited or redeemed by people who don’t have access to these.
The CEO of Mastercard, Ajay Banga, recently said that the company will support government-created cryptocurrencies if they are developed in the future. However, he was confident that “non-government mandated currencies are junk”.
Prime Minister Of Malta Puts All Rent Contracts On Blockchain
“We will now be showing people the added value of this technology through applying it to something which they will use in their daily lives,” Muscat said. “This shows how the digital transformation will affect their lives.”The best cryptocurrency news sites have long been talking about Malta and its great potential. Known as "the blockchain island" - the country has done a lot to stimulate the use and growth of cryptocurrencies. It first moved into the world of crypto in July 2018, when the Prime Minister of Malta showed his excitement about the crypto world and officially released a regulatory framework that is favorable to distributed ledger technologies. From electronic money to financial instruments, virtual tokens and virtual financial assets, there are a lot of updates and regulations within the country. By March of 2018, Malta's lawyers even started tokenizing themselves. As the altcoin news then showed, the Prime Minister of Malta was ready for new advancements in the future. Malta is now known for its tolerant regulatory environment, the educated workforce as well as the EU membership which is truly "a cherry on the cake" for the country, businesses and individuals looking to work with cryptocurrencies within the country. All of them are entities that contribute to Malta's economy and the country becoming a hub of blockchain experimentation. The full details about the rental contracts registered on blockchain, as the Prime Minister of Malta noted, will be revealed in the coming days.
First Binance Liquidation Happens After Margin Trading Feature
“Don’t bet against bitcoin, and don’t bet [against] b…”Zhao’s words could pose a warning to inexperienced traders who are considering margin trading but it also could be a suggestions to his followers to long Bitcoin. The last part of his comment refers to his platform’s own currency the Binance Coin (BNB) in order to support that token as well. The pilot involves multiple Binance users and now the officials are opting to open the participation for holders of the in-house token earlier this month via an early access scheme. BNB has gone way up since its launch and it has even delivered an all-time high of slightly under $40. This week as reported in the latest cryptocurrency news, Binance confirmed that the trading support for the native Binance Chain Stablecoin the USDSB is available. Previously, the trading platform announced the issuance of the BTCB on the Binance Chain which is a token pegged to Bitcoin. Also, Binance launched the decentralized exchange Binance DEX which will also facilitate trading. According to the exchanges’ blog posts we can read that:
‘’The main benefit of offering crypto-pegged tokens is that, obviously, this makes available to Binance DEX traders the many coins that have their own blockchains and aren’t native on Binance Chain. With the increase in the selection of tokens available on Binance DEX, there should be an increase in trading volume and liquidity, This would further increase the utility value of Binance DEX.’’
Malta Island To Store Rent Contracts On The Blockchain
“Every rent contract in Malta will be registered. The system we will be using to register the contracts is blockchain – distributed ledger technology.”According to Muscat, this new update will protect the tenants and their agreements from being tampered with. He also hinted that the island nation with more than half a million people will achieve this with the help of a permissioned blockchain:
The rent law reforms got the approval from the cabinet after a long consultation period. They are also expected to reveal in the coming days since the reforms on the rent laws are similar to those revisions with the construction laws. This was necessary because of the major construction boom in on the Malta Island and mainly because the situation was remarked by the increasing number of accidents and death cases on construction sites. With the help of Muscat, Malta took in great efforts to become the leader in ledger technology hub. Malta has also been investing in the human resources pool mainly for people who are qualified with the knowledge of blockchain technology. As reported in the coming altcoin news, Malta’s Parliamentary Secretariat for Digital Economy granted the first blockchain and distributed technology scholarships to 19 students. While with the scholarship grants, the parliamentary secretary for financial services, digital economy, and innovation Silvio Schembri noted that the move would help in preparing the future generations for the future industries. Last September, Malta launched a blockchain scholarship fund worth $342,000. The pro-blockchain and cryptocurrency nature of on Malta Island managed to attract many big name companies in the country. This includes crypto exchanges such as Binance which was based in Hong Kong after seeking friendlier jurisdiction months after it formed.
“We will now be showing people the added value of this technology through applying it to something which they will use in their daily lives. Such a contract cannot be tampered with and only those authorized will be able to access it.”
Coinbase Targeted With Two Zero-Day Attacks Via Mozilla Firefox
‘’ How did the hacker know our risk management rules so precisely.’’The Binance crypto exchange has since optimized the security features of the exchange but the hackers will still continue to penetrate the infrastructure of the major exchanges in any possible weak spots.
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