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Japan Airlines Co. said it has been defrauded out of ¥384 million ($3.4 million) after receiving emails earlier this year that called for the payments of lease fees and commissions into bank accounts in Hong Kong.
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POST Realistic visions of the next money
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“If Estonia succeeds with its plan to create a token for its e-residents to trade in, it could be the monetary glue to hold its ‘digital nation’ together. Electronic payments specialist Dave Birch theorized in his book, Before Babylon, Beyond Bitcoin, that the future of money is one where ‘community is no longer geography,’ and it’s communities who will have the most to gain from issuing their own, customized forms of money.”
From “Estonia’s planning an ICO for estcoins despite Mario Draghi’s warning — Quartz”.
It’s very kind of
Casualties of the Cashless Society: Those Who Get Seasonal Tips – The New York Times
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“These guys, they don’t tip like they used to, because they don’t have the cash in their pockets like they used to,” said Mark, an elevator operator at an upscale Manhattan co-op, talking about his building’s tenants.
From Casualties of the Cashless Society: Those Who Get Seasonal Tips – The New York Times
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Why you can’t cash out pt 1: Why Bitcoin’s “price” is largely fictional | Attack of the 50 Foot Blockchain
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“‘Market cap’ is even worse. It’s literally just whatever the last price was, multiplied by the number of tokens in existence. This is a bogus number that’s not actually applicable to anything — it’s not money that was put into the crypto, it’s not a realisable value like a company market cap, it doesn’t affect prices — it’s just an easily-calculated splashy-looking number that looks good in a headline. Trading is so thin in any crypto, even Bitcoin, that you could never realise a fraction of the number. It is literally just marketing.”
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How do you want banks to protect you from scams?
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“Update, 11 December: The Payments Strategy Forum has outlined plans for a new payments system architecture in the UK… The Forum has outlined that customers wishing to make a bank transfer will have to now enter the exact name on the account, as well as the other details.”
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The system will be available from December 2018, although it will be voluntary as to whether your bank offers it to you when you make a payment”
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Connected Rental Cars Leak Personal Driver Data – Infosecurity Magazine
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Your name and navigation history is valuable personal information. The UK Metropolitan Polices’ ‘Digital Control Strategy’ identifies infotainment systems in cars, which store this information, as a new forensic opportunity.
From Connected Rental Cars Leak Personal Driver Data – Infosecurity Magazine
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Food app calls off ICO after SEC declares its tokens are unregistered securities
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Munchee, a San Francisco-based company, had told investors that they were buying a “utility” token, because the digital coin could be used within the app to buy goods and services at a later stage.
In a whitepaper, Munchee had also told investors that the token “does not pose a significant risk of implicating federal securities laws.”
But the SEC said that the company led investors to believe that the value of tokens would increase and be traded on secondary markets — thereby classifying them as securities, which must be registered with the regulator.
From Food app calls off ICO after SEC declares its tokens are unregistered securities
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Discover announces that it will do away with signatures by April 2018
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“Discover has become the latest credit card company to get rid of signatures as a means of verifying a cardholder’s identity… it’s becoming increasingly rare for consumers actually sign real letters when signing at check-outs”
From “Discover announces that it will do away with signatures by April 2018”.
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To be honest I think I’ll miss signing for purchases in America.
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Bitcoin tells us nothing about the long term
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“Technology is changing every industry and it is impossible for me to believe it won’t change our financial system. That’s particularly true because our current system—while stable—is imperfect. Cryptocurrencies can be more secure and more efficient to exchange. They can be inflation-proof and are easier to settle and easier to interoperate. “
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“While certainly a disruptive idea, evolving our current financial system to take advantage of cryptocurrencies is not a crazy one.”
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On Fascism, Identity, Cryptoassets and the Future of Censorship
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“Bloomberg estimates only 1,000 individuals own 40% of available bitcoin, while the majority of bitcoin creation (mining) itself is also a tight-knit oligopoly.”
From “On Fascism, Identity, Cryptoassets and the Future of Censorship”.
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