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xxx Whereas auditing at present entails the confirmation of transactions and balances on a company’s accounting ledger at the end of the period, a transaction on the blockchain would provide a permanent and immutable record of the transaction almost immediately. From Blockchain and the Auditing Revolution – Real Time Audit within the Capabilities of BlockchainContinue reading “Blockchain and the Auditing Revolution – Real Time Audit within the Capabilities of Blockchain | Fintech Schweiz Digital Finance News – FintechNewsCH”

xxx Committing to standards would help the industry “get around some of the other hurdles while the underlying technology matures,” said John Burnett, vice president of the Emerging Technologies Center at State Street Corp. From Why Standards Would Aid Blockchain’s Adoption | American Banker xx Burnett’s list of hurdles is long: how to represent existingContinue reading “Why Standards Would Aid Blockchain’s Adoption | American Banker”

xxx A 23-year-old techie has been arrested for hacking Air India’s Frequent Flyer member accounts and using them to book tickets sold to several travel agents, Delhi Police said on Sunday. From Techie Held For Hacking Air India Frequent Flyers Accounts Now if that isn’t conclusive proof that frequent flier miles are money, I don’tContinue reading “Techie Held For Hacking Air India Frequent Flyers Accounts”

xxx In the future, social networks such as Facebook will become a new type of bank – a bank of your social credit. If you have poor social credit scores, people will be less likely to do business with you. Those with positive social values or high Klout scores will get better deals or superiorContinue reading “"Bank to the FinTech" Why Banks of the Future Won’t Use Cash | Chris Richards Finteched | Pulse | LinkedIn”

xxx Facebook user Aaron Thompson has exposed an online thief who gained access to his account simply by sending the support team a fake passport to unlock the account. From Facebook ‘hack’ victim exposes passport scam – BBC News As Bruce Schneider wrote about this, “demanding an easy-to-forge copy of a hard-to-forge document isn’t aContinue reading “Facebook ‘hack’ victim exposes passport scam – BBC News”

xxx It estimated there were two million computer misuse offences and 3.8 million fraud offences in the 12 months to the end of March – suggesting fraud is the most common type of crime. Most related to bank account fraud. From Nearly six million fraud and cyber crimes last year, ONS says – BBC NewsContinue reading “Nearly six million fraud and cyber crimes last year, ONS says – BBC News”

xxx You’ll need to send in some info as part of the application, like your birth date and phone number, and you need to have an actual photo on your profile. Twitter may require more verification, too, like a copy of a government-issued ID. From Do you want a verified account on Twitter? Now youContinue reading “Do you want a verified account on Twitter? Now you can apply. – Recode”

Now, you may remember that I have said one or two mildly critical things about the Current Account Switching Service (CASS) now and then. In fact, when it was launched, I said that it wouldn’t make a difference to the number of people switching accounts. “This will make not the slightest difference,” said David Birch,Continue reading “UK account switching a “complete waste of time” claims bank panellist » Banking Technology”

xxx The small Calabrian town of Gioiosa Ionica, population 7,000, is currently home to a group of asylum seekers, who are given the imitation bank notes, or “tickets” as they are known, as part of a voucher system. The refugees can spend the cash on whatever they like, but only in the town, so thatContinue reading “The Italian town that legally gives fake money to migrants – BBC News”

Daniel Buchner wrote a very interesting blog post a few days ago. In it, he says that Most non-monetary blockchain use-cases can be accomplished off-chain using a combination of blockchain-anchored identity, cryptographic signatures, and traditional storage systems – all while retaining the features developers desire and avoiding the scalability issues of on-chain transactions. From ScalingContinue reading “Scaling Decentralized Apps & Services via Blockchain-based Identity Indirection – Back Alley Coder”