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Blockchain-based ID System to Be Instituted In The Argentine Capital.

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On August 26, Buenos Aireshad announced that it would be partnering with three tech-based companies to facilitate the creation of Blockchain-based digital identity platform for the capital city of Argentina. This announcement was made by NEC’s website given that they will be partnering with DECODES (NGO Bitcoin Argentina) and IDB Lab to help develop the platform.
This new platform will achieve a number of purposes. One of these purposes would be helping to improve the access to quality goods and services for residents of the city, this is in line with the concerns about the fast increase in the level of poverty in Buenos Aires. According to a recent study carried out by the city government (GCBA), it indicated that 16.2% of the inhabitants dwelling within the region were currently living below the poverty line of the country.
The study also reflected an increase in the level of vulnerability for its inhabitants, this is because they aren’t just limited to access to certain goods and services, they are exploited as well. It is hoped that having more detailed information that is easily and securely stored will better enable government officials to create a more effective and efficient system that would assist those in the city suffering from extreme poverty within the region.
Erika Molina, the Project Team Leader from IDB in a statement, had explained that:
“The project aims to increase access to goods and services for the residents of vulnerable neighborhoods, thus allowing them to improve their opportunities for socioeconomic inclusion in the fourth industrial revolution.”
This new platform will go a long way in helping to alleviate the “poverty penalty” that many of the poorest in Argentina have been enduring for a while now. The penalty in this context refers to the fact that most of the people who are below the poverty line lack the proper paperwork and identification needed to acquire housing, employment or any form of assistance necessary.

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Cabify Explores Blockchain to Track and Counterbalance its Carbon Emissions 

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Giant Latin American ride sharing company, Cabify is set to utilize blockchain technology to make up for its toxic carbon releases.  

Vide its recent disclosure just this previous week, the company has liaised with a Valencia Spain headquartered FinTech outfit, ClimateTrade, to trace its carbon discharges in real time as it goes about its business.   

ClimateTrade runs its business by tracking the carbon fume prints of its clients’ rides and counterbalancing the carbon emissions by giving sumptuous credits on its blockchain based market platform. Ana Karen, ClimateTrade’s CMO hinted on how ClimateTrade was chosen by Cabify as a result of the latter’s substantial carbon emissions.   

ClimateTrade’s business model exploits the need to balance offsetting carbon releases and investment in sustainability simultaneously.

ClimateTrade’s CEO, Francisco Benedito, notes:

 “This alliance will provide transparent accreditation of the company’s carbon neutrality.” 

A Wednesday press release stated that ClimateTrade is set to explore the nascent technology that is blockchain from Algorand (ALGO, +2.65%).

The Press Releases highlighted that:

“ClimateTrade and its customers will be using Algorand as its primary infrastructure layer and leveraging its capabilities for carbon offsetting.” 

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270k User Data At Risk As Australian Crypto Exchange Accidentally Sends Emails En masse 

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An Australian Crypto Market Overt dubbed BTC Markets, has by a mere twist of fate jeopardised the privacy protection of its customers by accidentally baring their personal information. This way, its users are at the mercy of phishers and identity thieves. 

Business Insider disclosed how the exchange had bared the identities (names and email addresses) of more than 270,000 users when it released emails en masse to the users all at once. 

The same mail was addressed to a set of one thousand email recipients. 

This unintended disclosure came to be due to the emails sent all at once instead of mails being sent to each user personally, or better still, opting to utilize the “blind carbon copy” feature.

Any would-be identity thief would already have access to about nine hundred and ninety nine other personal data from each addressed email.

Caroline Bowler  the CEO of BTC Market explained that: 

“all account holders were affected.” 

She continued that: 

“The email was sent in batches, rather than in bulk.”

The mails could not be reversed or cut midway once it was sent.

Although sensitive data regarding passcode, financial information were not compromised, the disclosed info puts users at risk of phishers, identity thieves, and fuels the menace of obtaining by false pretences, as potential scammers now know who and who have crypto accounts.

This unintended move brings to the fore the challenges of centralizing Crypto markets. Any error or system hack can give away non-sensitive and even highly sensitive data.

With the look of things, BTC Market has to undergo an internal evaluation and timely review so as to tighten its security. To observe necessary due process, BTC Markets will  have to register this inadvertent occurrence to the Office of the Australian Information Commissioner.

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I Didn’t Own Any Cryptocurrency Before Beam, Not Even Bitcoin – Beam CTO, Alex Romanov 

I did not have any relation or experience with any other cryptocurrency or blockchain.

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The Chief Technical Officer of Beam Alex Romanov has revealed the first cryptocurrency he ever owned. He said in the CryptoTvplus AMA Series on the 25th of November that Beam was the first cryptocurrency he owned. Not even bitcoin, he emphasized. 

He said the Beam project was the first blockchain related project he undertook. Before I started, he explained, “I did not have any relation or experience with any other cryptocurrency or blockchain. In fact, I didn’t even own any other cryptocurrency before Beam. Beam was the first cryptocurrency I actually first owned.”

This is like true for most of the team I think. We were new to this space and had to learn everything from scratch very quickly, which we did and eventually we produce Beam, Alex added. 

In the AMA session which was focused on the Beam Confidential DeFi Ecosystem, Alex also revealed the project did a hard fork in July and added a feature amongst others called Confidential Assets. 

This feature allows anyone to create a confidential token easily without special development skills. 

He also expressed his opinion on the future of the industry with emphasis on regulations as it affects privacy coins.

He said “we’ll see regulations moving forward to adapt to the new reality and understanding privacy is not something bad but something good that people need to be able to trade on blockchain”

You can watch the full session here. 

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