We all know that the blockchain technology is more than units on a computer. In many ways, it is designed to help and create a massive social impact with its use cases and different scenarios. One of them has been uncovered lately, just in time when Syria has gotten the world’s attention for the chemical attack on their citizens over the past few years.
The situation in Syria has been devastating for long now, with many refugees running away from the country and seeking asylum in the West. Another problem are the refugees themselves – which are fleeing everywhere and cannot be properly tracked or monitored.
Thanks to a new cutting-edge blockchain technology, this is going to change. In other words, every refugee will be able to keep their data private. The application has been developed by the UN’s World Food Programme (WFP) as well as other industry partners.
The benefits of this project are endless, both in the social and economic aspect. The impact of it, on the other hand, could shape the lives of many new generations to come. Even if we see it from a humanitarian perspective, the lives of the Syrian refugees have been completely changed and everyone deserves a chance to rebuild them.
In the midst of the crisis, this project can help the refugees re-connect with technology and rebuild their lives. They could transact from a single digital wallet comprised of a record of their purchase history, identification and “access to financial accounts” (which they don’t have nowadays).
This will likely improve a lot of things. The architect behind the program, Houman Haddad, is confident in this and hopes to see the Syrian refugees being able to transact from a single digital wallet with a proper blockchain-fueled ID system.
You Can Now Bet On The World Cup Final With Ethereum (And 0% Commission)
The World Cup final game, which will take place today in Russia, will see France and Croatia playing for the most prestigious title in football around the world. According to some reports, this event is already breaking viewing records.
The last World Cup in 2014 (Brazil) was watched by almost 3.2 billion people. This year, it is expected for more than 4 billion people to tune – especially because the world’s population has grown by almost half a billion since then.
This also makes the gambling potential more interesting, especially for fans who would like to predict the outcome and the winner of this clash. For the first time ever, this year world cup gambling is expected to make a profit of more than $36 billion.
Even though most of these profits will be gathered in fiat currencies, gambling with crypto is another interesting concept. One platform that is live and accepting bets in cryptocurrency for the final is CryptoBets – allowing users to place bets in Ethereum on big events like today’s final.
There is no complex ICO, no tokens to buy (other than Ethereum) and a simple smart contract that checks the site www.football-data.org to decide a winner.
And the best part?
Today’s bet on the World Cup 2018 Final in Russia will feature a 0% commission – meaning that there will be no bookies – and only users betting against other users. According to many, this is the first time that crypto fans can gain maximum winnings.
The World Cup 2018 Final between France and Croatia is scheduled for 5:00 PM Central European Time (CET) and will take place at the Luzhniki Stadium in Russia’s capital, Moscow. For more info on the time zone and kick-off times, visit this link.
Ethereum Co-Creator: The ‘Phase 2’ Following The Launch Of Most Complex DApp Is Coming
The RISE conference that was held in Hong Kong was a great chance for Ethereum to publish
its latest news. In a hall that was packed with people and an event that was visited by more than 15,000 attendees, the Ethereum co-founder Joseph Lubin was announcing the latest news for the second largest cryptocurrency on the market.
As Lubin said, the Ethereum blockchain has entered phase two of its development, following the launch of the most complicated app on its protocol. According to previous reports, the open-source developer community of Ethereum that was led by prominent developers like Vitalik Buterin has been focusing on the development of layer-two solutions such as Plasma and Sharding. Combined, these two have the potential to increase the capacity of the Ethereum network to 1 million transactions per second.
Lubin also emphasized that in the near future, the Ethereum blockchain protocol’s main chain will be utilized as a trust system and layer-two networks which will mostly handle the heavy load of processing large amounts of data.
As he said:
“[Ethereum is moving] into a space where it can serve as the layer one trust system, and built into Ethereum we’ll have hundreds of thousands of transactions in the layer two systems and we’re going to see that ramified this year.”
The solutions such as Sharding and Plasma are designed to leverage the security of Ethereum’s layer one protocol and securely process information in a highly efficient manner.
The Launch Of Augur On Ethereum’s Blockchain Protocol
In other news, the launch of the decentralized prediction market platform Augur also took place. The founder of Augur, Joey Krug, described this project as the most complicated decentralized application.
Earlier this year, Krug described Augur in a couple of sentences, saying:
“Augur’s about 10x more complex than the second most complicated ethereum project, makerdao, which has about 10 contracts vs augur’s 100 [complexity isn’t a good thing, and the augur team has tried to make it as simple as possible, it’s just a really complicated endeavor].”
The layer one blockchain protocol of Ethereum is currently known for improving security and layer two solutions – and providing scalability, complex projects and sophisticated dApps that require significant amounts of data processing capacities.
New $12 Mln. Ether Hack Leaves Decentralized Exchange In Vain
One decentralized exchange named Bancor recently stated that hackers exploited one of its vulnerabilities, stealing 24,984 ETH ($12 million) as well as $1 million worth of NPXS and $10 million worth of BNT.
The news comes from a tweet earlier today, in which Bancor stated that there was a security breach, announcing that they will investigate into the issue. No user wallets have been compromised during the hack – and a more detailed report is on the way.
This morning (CEST) Bancor experienced a security breach. No user wallets were compromised. To complete the investigation, we have moved to maintenance and will be releasing a more detailed report shortly. We look forward to being back online as soon as possible.
— Bancor (@Bancor) July 9, 2018
Occurring at approximately midnight, the hack started with a wallet that used to upgrade some smart contracts. The wallet has withdrawn Ethereum and ERC-20 tokens NPXS and BNT. The stolen BNT has since been frozen with a mechanism built into the Bancor Protocol. As Bancor revealed, this mechanism was built in to “be used in extreme situations to recover from security breaches like these, allowing Bancor to stop the thief from running away with the stolen tokens”.
Still, the stolen ETH and other tokens are compromised and the wallet which contains them can be viewed here. According to the exchange, everyone is now “working together with dozens of cryptocurrency exchanges to trace the stolen funds and make it more difficult for the thief to liquidate them”.
Meanwhile, Bancor is known for raising $153 million in July 2017 in a couple of hours – becoming one of the largest ICOs. The company stated that they will continue to post updates about any further developments following the hack.
Binance Donates $1 Million To West Japan’s Flood Victims
The largest cryptocurrency exchange in the world, Binance, pledged $1 million for the victims of the floods that occurred in West Japan. In the official blog post confirming this donation, Binance announced:
“To help out the victims in West Japan that were affected by the heavy rains on 7/7/2018, Binance is donating $1,000,000 USD and calling for our crypto friends and partners to join us in the relief initiative.”
It all started when on Saturday, Japan has been hit with rainfall that caused floods and landslides. More than 60 people have died so far with about a dozen missing since. The Prime Minister of Japan, Shinzo Abe, has ordered the evacuation of two million people in the disaster-prone areas.
Binance, however, made a donation and also urged its users who would like to donate – to send ETH or ERC-20 tokens to the wallet as mentioned in their blog post:
“Send ETH or ERC20 tokens you want to donate directly to the Binance donation address0xA73d9021f67931563fDfe3E8f66261086319a1FC”
The founder and CEO of Binance also tweeted, calling out the crypto community to contribute towards the fund. As Zhao stated, the exact logistics would be figured out shortly and his team is currently in contact with local authorities in order to figure out the final delivery logistics.
Exact logistics will be figured out shortly. Reply to this thread or let me know if you (ur project) want to donate. Bonus points for future listing requests. And we may count your donations towards the listing fees. Listed projects, you know what to do!
— CZ (not giving crypto away) (@cz_binance) July 8, 2018
The Ethereum wallet so far received about $90,000 worth of ETH and $1.05 million worth of ERC-20 tokens. This confirms that cryptocurrencies are greatly used for donations and charitable causes – especially due to their transparency on the public ledger.
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