Walmart Awarded Patent for Blockchain-Based Medical Records System

U.S. retail giant Walmart has been awarded a patent for a system that would store medical records on a blockchain from a wearable device, according to a patent filing published by the U.S. Patent and Trademark Office. The system, according to the document, will allow medical professionals to retrieve medical data from a patient that is unable to communicate. The patient’s medical records will theoretically be stored on a blockchain, accessible by a device worn by the patient that first responders could access with an RFID scanner. The patent further…

Crypto-Related Crimes to Exceed All Other Cyberattacks in 2018, Says Israeli Expert

According to an expert at the Israeli cybersecurity firm Check Point Software Technologies (CHKP), crypto-related crimes would exceed the number of all other cyberattacks in 2018, the Times Of Israel reports June 22. The expert defined “cryptocurrency-related cyberattacks” as any form of cybercrime that involves crypto, including scams and hacks. Speaking on a panel at the “Blockchain, The New Digital Age” event at Tel Aviv University, CHKP expert Lotem Finkelsteen said that illegal activity in the initial coin offering (ICO) market is the main obstacle to the development of blockchain…

Chief Strategy Officer of Bitfinex Crypto Exchange Steps Down

Chief Strategy Officer (CSO) Phil Potter of Bitfinex crypto exchange is resigning from the company, Reuters reports June 22. Potter will be replaced in the interim by Bitfinex CEO, Jean-Louis van der Velde. Potter commented that it was the “natural time for [him] to depart the executive team” while Bitfinex turned to “other strategic international markets.” According to Reuters, he referenced “new opportunities” to come, but did not specify what they would be. Bitfinex is the 4th largest crypto exchange by trade volume, according to Coinmarketcap, and shares management with…

Leading US Crypto Exchange Coinbase’s Growth Is ‘Outpacing Its Resources’

Criticisms are being leveled at U.S. crypto exchange Coinbase for allegedly being underprepared and overwhelmed by the pace of its growth, Business Insider reports today, June 22. Business Insider cites documents obtained by Mashable through a five-month Freedom of Information Act (FOIA) process, which comprise 134 pages of complaints filed by Coinbase users with the U.S. Securities and Exchange Commission (SEC) and the California Department of Business Oversight. Recurrent among the complaints are users’ reported difficulties in accessing funds, with Mashable providing evidence of widespread frustration at either being locked…

Crypto for Betting, Hotels, Booze and Flights

Major sporting events always attract a massive amount of attention across the world and it is encouraging to see cryptocurrencies being integrated into the many aspects of the event. We’ve seen this happen at the Super Bowl and the Winter Olympics in the past six months, so it’s not surprising that Bitcoin and cryptocurrencies are becoming far easier to use in the many industries involved in these major events — from hospitality to gambling. Football Every four years the global sporting community feasts on a festival of football at the…

Bitcoin’s Price Hit Its Lowest Point Since Early February

The price of bitcoin on Friday fell to a level last seen in early February when it registered its lowest price in 2018. Prices went as low as $6,081.09, according to CoinDesk’s Bitcoin Price Index (BPI), a significant drop considering the day’s opening price of $6,717.20. At press time, bitcoin’s price – currently hovering at around $6,209 – is down about 68% from the 2018 high of $19,783 set in January. Other cryptocurrencies are following suit as bitcoin continues to flirt with support levels, as shown in data published by sources…

Bitfinex’s Chief Strategy Officer Leaves Crypto Exchange

Phil Potter, chief strategy officer for cryptocurrency exchange Bitfinex, has reportedly left the company. Reuters reported Friday that Potter, who is also a director of the ‘stablecoin’ issuing company Tether, will be temporarily replaced by Jan Ludovicus van der Velde, Bitfinex’s CEO. A spokesperson told the news service that the parting was “mutual” in nature. Potter was quoted as saying: “As Bitfinex pivots to other strategic international markets, I felt this was a natural time for me to depart the executive team. I am looking forward to new opportunities in…

US and South Korea to Strengthen Joint Cooperation on Fourth Industrial Revolution

The US State Department and South Korea’s Ministry of Science and Technology (MSIT) have resolved to strengthen the two countries’ cooperation in advancing the Fourth Industrial Revolution, at a press conference held in Seoul today, June 22. The so-called Fourth Industrial Revolution has been characterized by the World Economic Forum (WEF) as a series of technological breakthroughs that “will fundamentally alter the way we live, work and relate to one another… [across] the global polity, from the public and private sectors to academia and civil society.” The WEF recognized blockchain’s…

Nano Android Wallet Users Advised to Move Funds Due to Security Flaw

Users of cryptocurrency Nano who downloaded a new Android app must create a new wallet and move their funds after the discovery of a security vulnerability, according to a June 21 tweet Nano. Developers made an urgent appeal to users June 21, asking them to relocate funds to a wallet which had a different seed: *ATTENTION* ANYONE WHO GENERATED A SEED USING THE ANDROID WALLET, IMMEDIATELY MOVE YOUR FUNDS TO ANOTHER WALLET DERIVED FROM A DIFFERENT SEED. *ATTENTION* — Nano (@nano) June 21, 2018 Nano, which made headlines earlier this…

Litecoin Sinks to Lowest Price in 7 Months

Litecoin’s (LTC) price hit a seven-month low on Friday as the cryptocurrency markets turned risk-averse. The world’s sixth largest cryptocurrency by market capitalization fell to $84.39 at 14:00 UTC – its lowest level since November 29, according to CoinDesk’s Litecoin Price Index – and was last seen at $84.99, down more than 12 percent on the day. Litecoin Price Index At press time, LTC is the third-biggest loser among top 10 cryptocurrencies by market capitalization and is reporting a 13.26 percent week-on-week drop, according to CoinMarketCap. Further, its market capitalization stands at…