Crypto giants co-launch Chainabuse platform to water down rising scams

May 18, 2022 Coin Telegraph

Aave

Chainabuse allows crypto users, victims of financial crimes and crypto businesses to report, discuss and actively issue warnings to reduce the effectiveness of scams.

Seven major crypto companies — Binance.US, Circle, Solana Foundation, The Aave Companies, Hedera, TRM Labs and Civic — joined hands to launch a community-driven scam reporting tool. Named Chainabuse, the tool aims to enable crypto users to issue warnings and discuss ongoing fraudulent activity such as scams and hacks in real-time.

Launched on Wednesday, the Chainabuse platform aims to counter the ongoing scams plaguing the crypto ecosystem. On May 4, Cointelegraph warned the community about the rise in Ape-themed airdrop phishing scams.

Chainabuse serves as a one-stop-shop platform for crypto users, victims of financial crimes and crypto businesses to actively report, discuss and issue warnings and ultimately reduce the effectiveness of the scam.

In the announcement, TRM Labs highlighted that crypto companies often issue warnings on social media platforms such as Twitter and Discord that are easily missed and difficult to keep track of. However, companies and crypto investors can use Chainabuse’s public forums to upvote, downvote and leave comments to provide additional information about a reported illicit activity.

The free-to-use platform also maintains a database of illicit activities that, in the future, can be used by crypto users to investigate projects before making an investment. Joe McGill, Chainabuse’s chief architect and former U.S. Secret Service and Postal Investigator, called attention to the numerous instances when crypto communities came together “to root out bad actors and help protect each other,” adding:

“Chainabuse was designed to make it easier for more people to play an active role in advancing that culture.”

Moreover, all the representatives of the seven crypto companies stressed the importance of safeguarding the interests and people of the crypto community — pointing out that fear of rug pulls and being hacked hampers the overall adoption of cryptocurrencies.

The Turkish arm of crypto exchange Binance recently took an offensive stance against scammers that were found to be using billboards to advertise fake Binance-branded investment opportunities.

Bir süredir Türkiye’nin farklı bölgelerinde aşağıdaki görsele benzer reklam panoları göze çarpmaktadır.

Aşağıdaki görselin #Binance ile ilgisi yoktur❗️

Dolandırıcılık faaliyeti içinde oldukları açıkça belli olan kişiler hakkında gerekli hukuki süreçler başlatılmıştır.#SAFU pic.twitter.com/znvJDLRP7v
— Binance Türkiye (@Binance_Turkish) May 8, 2022

In the latest warning issued by Binance Turkey, the billboard is shown sporting an advertisement for the “Binance Tourist xchange,” which has no affiliation with the original Binance, founded by Changpeng “CZ” Zhao. On April 15, Binance launched its first 24/7 customer service center in Turkey as it prepares to expand the service worldwide.

Shark Tank Investor Kevin O’Leary Says Solana (SOL), Polygon (MATIC) and Hedera (HBAR) Have ‘Large’ Potential

January 19, 2022 The Daily Hodl

Hedera Governing Council to buy hashgraph IP, and open-source projects code

January 19, 2022 Coin Telegraph

Coin Telegraph

Distributed ledger service, Hedera Hashgraph is expected to deploy a panoply of upgrades in 2022 in line with their long-term pursuit of decentralization.

The Hedera Governing Council has officially voted to purchase the intellectual property rights to the hashgraph consensus algorithm from founding architect and inaugural member of the council, Swirlds Inc, for an undisclosed fee.

A Jan. 19 announcement also details plans to transition their code to an open-source model this year under Apache 2.0 license, in addition to transferring core team members such as CEO Mance Harmon and chief scientist Dr. Leemon Baird from Hedera to Swirlds Inc. as the CEO and CTO respectively, and deploying community staking and node opportunities, among other updates.

Hedera Hashgraph is an enterprise-grade distributed ledger technology designed to create decentralized applications in the Web3 sphere.

It's governing council is composed of 39 corporations including Google, IBM, Tata Communications and Boeing, who each support the project's decentralized ambitions through the establishment and operation of blockchain nodes, and participating in governance voting, among other duties.

Hedera’s evolution to an open-source technology differs from their current model of open-review, in which the code appears as publicly visible, but is not accessible for editing or developmental purposes by the global community.

The decision to enact this change came about following conclusive technical assessments that the probability of a network split within the Hedera ecosystem is highly unlikely, and therefore the patent upholding legislative exclusivity to the technology can be safely distributed into the public domain, with assurances that it will not serve as an advantageous tool for market competitors, but rather a mechanism to foster internal growth.

Baird, the newly appointed CTO of Swirlds, and co-chair of the Hedera Council’s Technical Steering and Product Committee, said:

“From day one, I have had a vision to enable ‘Shared Worlds’, where anyone can gather, collaborate, conduct commerce, and control their own online footprint.

Baird also noted that the next challenge for Hedera is to expand from a Layer 1 protocol “to deliver products and services that enable others to leverage the power of the Layer 1 protocol to create value.”

Harmon and Baird, among others are scheduled to host a YouTube webinar at 11 a.m. ET today to discuss the Shared Worlds initiative in further detail, alongside developments over the coming months.

From a technical perspective, Hedera’s native token, HBAR has largely consolidated in the $0.33 to $0.25 price range since the turn of the year, currently valued at $0.257.

Earlier this month, Hedera partnered with London-based tech firm, Neuron Innovations on a drone initiative designed to collate and store quantitative data metrics on an array of sectors including commercial and military aviation, as well as government initiatives.

Supported by the United Kingdom's Department for Business, Energy and Industrial Strategy, the pilot scheme — conducted in April and October 2021 — is expected to support the adoption of drones into the existing air traffic transportation system.

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Eftpos reveals plans to power Australian smart cities with blockchain tech

April 20, 2021 Coin Telegraph

Australian Blockchain Week

Eftpos revealed its plans to use distributed ledger technology to power smart cities and self-driving vehicles during the Australian Blockchain Week conference.

Australia’s leading point-of-sale technology provider Eftpos Australia has revealed ambitious plans to roll out blockchain-powered autonomous vehicles and smart cities in Australia built using Hedera’s Hashgraph.

Speaking on Tuesday as part of the Australian Blockchain Week, Robert Allen, deputy chair of Blockchain Australia and Eftpos’ entrepreneur in residence, discussed the firm's intention to use distributed ledger technology for advanced infrastructure, among other applications:

“We're going to be looking at smart cities. [...] We're going to be looking at autonomous vehicles and things that we haven't even thought about yet. All of this needs new infrastructure, and Eftpos needs to be informed by that.”

Eftpos chief investment officer Ben Tabell noted the significance of the firm’s DLT initiatives in partnership with Hedera, highlighting the firms’ efforts to combine digital identity and payments solutions in Australia.

“This is a big part of our work and effort at the moment to bring in digital identity and transactions so that we can securely support payments and other transaction clubs in the Australian digital ecosystem,” he said.

Eftpos Australia first announced a proof-of-concept for an Australian stablecoin using Hedera’s Hashgraph in July 2020. While the pilot focused on micropayments, such as real-time payments for streaming and pay-per-click content, Allen noted the trial laid the groundwork for more ambitious initiatives:

“Hedera is the only next-generation network that will support those kinds of use cases. So, we wanted to test it, and it has operated beautifully. [...] Now, because we've got all this digital strategy, we are in a position where we can start looking at ways that problems can be solved in a way which is maybe nontraditional and more distributed.”

In January, Eftpos became Hedera’s 17th governing council member and Australia’s first Hedera node operator.

Hedera has been expanding its governing council recently, with Shinhan Bank joining earlier this month, French utility giant Electricite de France onboarding in March, and Standard Bank Group becoming the network’s first African node operator in February.

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