Daily: CMC lists 2000th coin; rapper Young Dirty launches ODBcoin for late father; TenCent & Huawei collab on coinless blockchain; Noorcoin demos TestNet to OIC; Sony puts crypto on IC & woman hacker arrested for stealing USD65k worth of XRP

Daily: CoinMarketCap lists 2000th coin despite bearish market; Young Dirty launches ODBcoin pre-sale in memory of late father, Wu Tang Clan's ODB; TenCent, WeBank & Huawei collab on coinless blockchain network BCOS; Syariah-compliant Noorcoin launches application demo to OIC countries; Sony has crypto wallet built into IC card & 23-year old woman arrested after hacking man off $65K worth of Ripple in Australia.

• Mediasizing the Regulators category:

• It's been almost a year since bitcoin traded near USD$20,000, but that isn't deterring the ecosystem from continuously reaching all-time highs, albeit for a different reason.
• According to CoinMarketCap, since it's launch in 2013, it has recently listed its 2,000th crypto asset in the form of Labh Coin (LABH).
• The milestone officially passed on October 3, and there are now 2,112 cryptocurrencies tracked by the data site.
• Data from Alexa.com shows a 3,000 percent increase in the number of cryptocurrencies on the website since it tracked just 66 assets in 2013.
• The site averages 422 newly listed cryptocurrencies per year which could be broken down to nearly 8 per week.
• Besides the number of crypto assets, total market capitalization of all cryptocurrencies, is perhaps even more staggering.
• The total market capitalization of all cryptocurrencies aggregated from just seven listed assets on April 28th, 2013 (its first month in business) was just shy of $1.6 billion.
• That number today represents over $200 billion and a more than 13,000 percent increase since 2013.
• The all-time high in total market capitalization of roughly $830 billion – set last January – represented an astounding growth percentage of 55,000 percent.
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• Founders & Use Chains category:

 

• Months after its debut, the cryptocurrency being launched by the estate of the late Wu-Tang Clan member Ol' Dirty Bastard (ODB) is moving ahead – starting with a public pre-sale on AltMarket this week.
• Back in March, performing artist Young Dirty – ODB's son, whose real name is Bar-son Jones –  spoke to media outlets about the plan to create a fan-centric cryptocurrency, built on top of the TAO blockchain network.
• And perhaps unlike other cryptocurrencies with celebrity backing – an area that the U.S. Securities and Exchange Commission has taken a stern tone toward – those behind ODBCoin say they moved carefully toward launch.
• "We had to take the time out to get everything correct," Young Dirty said in an interview.
• Bryce Weiner, AltMarket's CEO, described ODBCoin as "merchandise, like a T-shirt, which makes it a commodity" in the eyes of U.S. regulators.
• The idea is that ODBCoin (formerly known as Dirty Coin) will be the first of a planned series of artist-branded cryptos developed and distributed.
• Rather than serving as vehicles for investment, the tokens are intended to act as a kind of incentive for fans of artists like Young Dirty, allowing them to be spent at shows or on merchandise.
• "Bitcoin is the future of money and all the fans want a part of the future of Ol' Dirty Bastard," Young Dirty said in a statement. "In the past, dad's music was ahead of its time, so it makes sense that he would be ahead of the technology of money now."
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• The Financial Blockchain Shenzhen Consortium (FISCO) has announced the launch of FISCO BCOS, a revolutionary coinless blockchain platform designed to meet the regulatory and operational requirements of the financial industry.
• FISCO, which is one of China’s largest blockchain consortiums has more than 100 members including WeBank, and tech giants Tencent and Huawei.
• Built by a FISCO Taskforce Team that includes Tencent Cloud, WeBank and Shenzhen Securities Communication, BCOS is an open-source platform that combines the functionality of a permissionless blockchain with a coinless framework such as that used by Hyperledger Fabric and R3 Corda.
• This framework, called an Open Consortium Chain was pioneered by WeBank, and its purpose is not to serve as a single blockchain platform, but instead to become an entire blockchain ecosystem in its own right, made up of a number of blockchain applications aimed to solve specific problems.
• The platform was designed for the express purpose of meeting the peculiarities of the financial industry in terms of regulatory requirements and operating demands.
• It gets around the problems commonly associated with blockchains such as long delays and low concurrency by using a unique platform design framework that it claims vastly improves transaction handling capacity.
• BCOS claims that a single chain can handle more than 1000 transactions per second with split second confirmation, which is key to the operational demands of a large financial institution.
• It also claims that through the use of upgraded architecture and localized optimisation to a single chain, it makes safe and efficient concurrent computation and parallel expansion possible.
• This enables developers to seamlessly add more servers as required in line with business capacity requirements.
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• Noorcoin, launched its application demo for 57 Organization of Islamic Cooperation (OIC) member countries in the annual session of the Islamic Chamber of Commerce, Industry & Agriculture (ICCIA) of the OIC on October 22-23 2018 in Jakarta.
• OIC is the second largest inter-governmental organization after the United Nations.
• The meeting was attended by the delegation from 57 OIC member countries.
• Noorcoin Founder and CEO, Sofia Koswara said, “OIC member countries, such as the kingdom of Saudi Arabia was very serious about using Noorcoin. Banks in Saudi Arabia to the Zakat Council in the country began to think about the use of digital money as an alternative to long-term financial transactions. We believe once the application demo is completed, Noorcoin will reach acceleration in a few months.”
• Noorcoin COO, Thomas Yudhistira said, “The purpose of the application demo is not only to test the technological issue, but also the cultural and legal environment in each 57 OIC member countries. For example, there is a widespread misconception towards cryptocurrency in the Middle East due to the notion that it is against Sharia law. Muhammad Abu Bakar (certified Muslim legal expert) in a report says that cryptocurrencies are permissible under Sharia law. Noorcoin is developed with sharia compliance in mind so we are positive that we would be compliant to national sharia regulations, which to be proven with this testnet.”
• Ambassador of the Kingdom of Saudi Arabia to Indonesia HE Osamh Mohammed Abdullah Shuibi who attended the launch to represent the country to accept Noorcoin D-app demo testnet said, “The use of digital money in Islamic countries is very important. In addition to facilitating transactions, the main objective is to reduce the dominance of the US dollar. Noorcoin, the first digital Islamic money, can be used for Umrah and Hajj services, as well as inter-state transactions. There are three advantages that Noorcoin has, namely transparent, safe and low cost. At present some countries are experiencing a weakening of the currency against the US dollar. We must have an alternative.”
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• Sony Computer Science Laboratories, Inc. (“Sony CSL”) has developed a contactless IC card type cryptocurrency “hardware wallet technology” by utilizing Sony Corporation’s IC card technology.
• Currently, many cryptocurrency users are trading cryptocurrencies using online wallets from the locations where they initially purchased their cryptocurrencies.
• When a user owns a cryptocurrency, what they actually own is not the cryptocurrency itself, but a private key that allows you to freely trade that cryptocurrency.
• If you own the private key, you can freely use the cryptocurrency associated with the private key.
• If that private key is known to others, it is possible that others will use the cryptocurrency associated with the private key.
• In online wallets such as cryptocurrency exchange websites or services, the private key is managed by the online wallet operator, not the user, meaning that users are able to access to the wallet itself, but do not manage their personal private keys.
• Therefore, when an online server managing a user’s private key receives unauthorized access and the private key leaks, there is a risk that the cryptocurrency held by the user will be used by others.
• A hardware wallet is a device that is independent from the PC or smartphone connected to the online network and manages the private key by the user, in order to avoid the risk of leakage of the private key by unauthorized access to this online server.
• This makes it possible to avoid unauthorized access via online networks and to securely manage cryptocurrency by storing private keys in the hardware wallet independently of any online network.
• Sony CSL has developed a contactless IC card type hardware wallet which includes mutual authentication/encrypted communication technology by applying Sony’s expertise in contactless IC card technology cultivated over many years.
• The IC card type hardware wallet is small, portable and useful, unlike typical existing hardware wallets that connect to PCs via USB.
• In addition, it is possible to securely generate and store a private key with a highly reliable tamper-proof module within the IC card.
• This IC card-type cryptocurrency hardware wallet technology not only manages the private keys used for cryptocurrency transactions, but also manages private keys used for other purposes, such as those for permitting the use of personal information using blockchain technology.
• It is an infrastructure technology with multiple possible applications.
• Sony CSL will continue advancing initiatives towards the commercialization of its “cryptocurrency hardware wallet technology” that allows for safe and secure transactions of digital assets including cryptocurrencies with the aim of furthering the widespread adoption of blockchain technology.
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• Blockhead Lockdown category:

 

• A 23-year-old woman has been arrested by the Sydney police for stealing $65,000 worth cryptocurrencies from a 56-year-old man.
• The woman hacked the victim’s email account in January 2018.
• She used the two-step verification feature by changing the password and verifying it with her mobile number.
• She then sent 100,000 XRP to her account in China from the crypto accounts connected to the email account.
• The XRP were converted into Bitcoins and transferred to multiple e-wallets.
• The victim was able to acquire his account after two days, however, the woman had drained all his funds by that time.
• Arthur Katsogiannis, Cybercrime Squad commander, said, “It’s a very significant crime and it’s the first we know of its type in Australia where an individual has been arrested and charged for the technology-enabled theft of cryptocurrency.”
• Katsogiannis said that even though this crime is the first of its kind, it will become a norm in the coming years.
• He added that such incidents will prove to be dangerous for investors interested in cryptocurrencies.
• The Public Order and Riot Squad (PORS) caught the woman at her parent’s house in Ebbing and seized all of her electronic devices. The woman is set to appear at Burwood Local Court on November 19.
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