Former Fed Nominee Stephen Moore Backs Fractional Reserve Stablecoin

Stephen Moore, who backed out from a nomination to the Federal Reserve Board of Governors, is now trying to upend central banks. On Monday, the economist announced his involvement with Frax, a stablecoin backed by a fractional reserve. Coming via a partnership with Sam Kazemian, CEO of Wikipedia rival Everpedia, the stablecoin would be pegged to the value of the dollar but not necessarily backed one-for-one with greenbacks. How? Kazemian explained in an interview with Crowdfund Insider last month that Frax will be managed in a system similar to what…

WATCH: UNICEF’s Crypto Fund Plans to Pay for Internet in Public Schools

Plans are in place to allow non-profit UNICEF to use cryptocurrencies donated by the Ethereum Foundation and other organizations to fund internet connectivity in public schools around the world. Announced at ethereum developer conference Devcon, UNICEF unveiled a cryptocurrency fund to receive, hold, and distribute bitcoin and ether donations . Making the first contributions to UNICEF’s Crypto Fund, the Ethereum Foundation donated 1 BTC and 100 ETH, collectively worth roughly $25,000 USD. According to UNICEF blockchain lead Christina Lomazzo and head of UNICEF Ventures, Chris Fabian, the funds will initially go…

WATCH: Ecash Creator David Chaum On His New ‘Quantum-Resistant’ Cryptocurrency, Praxxis 

  Digital money pioneer David Chaum is creating his second digital currency and we caught up with him at Devcon in Osaka, Japan. He created the first platform, Ecash, in 1983 and it was meant to be an electronic cash system, not unlike what bitcoin is today.  Now, Chaum is developing a new so-called “quantum-resistant” digital currency called Praxxis that innovates on his original ideas for Ecash as well as on the technology advanced by Satoshi Nakamoto’s bitcoin.  “Praxxis is delivering two things. One is a new consensus algorithm that…

The Chainsmokers Back Blockchain-Based Ticketing Platform Yellowheart

American EDM-pop duo The Chainsmokers are backing a new blockchain-based ticketing platform. Platform allows artists to control the secondary ticketing market Alongside their manager Adam Alpert, the 2017 Grammy Award winners invested in YellowHeart, a decentralized ticketing platform designed to facilitate transparent ticketing sales by artists, music industry publication Music Business Worldwide reports on Oct. 21. Founded by music executive Josh Katz, the YellowHeart platform uses a public blockchain to enable artists and venues to directly control the ticketing process, including sales on secondary markets. YellowHeart aims to eliminate scalpers…

Former Trump Advisor to Release Stablecoin Backed by Fractional Reserve

A former campaign adviser to United States President Donald Trump is planning to release a stablecoin based on a fractional reserve. As Fortune reported on Oct. 21, Stephen Moore announced plans to launch a stablecoin dubbed Frax, which will be backed by a fractional reserve of U.S. dollars. As such, the planned stablecoin will not be pegged one-to-one to a reserve of dollars but is based on algorithms that will loan out its reserves and gain interest in order to make certain that the value of the coin remains fixed…

How the Coinbase Security team deployed CTFd to Power our First Capture the Flag contest at Defcon 27

Our vendor choices were typically determined by our own familiarity. We used AWS as our infrastructure provider, and we used Cloudflare as our DoS protection for similar reasons. For email and email verification, we used SES to trigger an email forwarder lambda and save a copy of the email to an S3 bucket. The lambda then pulled the email from the S3 bucket and forwarded the contents to the recipients defined in the lambda. Eventually, we swapped out our EC2 instance hosting an Ethereum node with Infura as this gave…

Cryptocurrency Could Revolutionize Humanitarian Aid

When disaster strikes the swift delivery of aid often plays a massive role in preventing disease, exposure, and the pause in the delivery of essential services from exacerbating an already dire situation.  The abysmal response in Puerto Rico after Hurricane Maria pummeled the island in 2017 serves as a perfect example. In fact, data from a Harvard University study estimated that the delayed response in distributing aid contributed to an excess death count of 4,645, whereas the official death count by the government of Puerto Rico remains at 64. First…

Fidelity Digital Assets’ Testing Opens to More Qualified Investors

Fidelity Digital Asset Services (FDAS) is “now engaged in a full rollout” of its custody and trading services, expanding from the limited trial users in the platform’s final test stage, according to a Financial Times interview. A spokesperson said Monday that FDAS’  license application with New York State is still pending while more clients are being added to test the platform. The business had initially been expected to be open in the first quarter of 2019. In an interview published Friday with Fidelity Investments CEO Abigail Johnson, the FT said: “Fidelity started adding clients in…

As Lightning’s Economy Takes Shape, Devs Are Split on Proposed Fee Hike

Fees aren’t just a topic of discussion for Bitcoin Core users anymore. As the tech matures and an economy develops, fee discussions are making their way into the lightning network too. This past weekend, bitcoiners and lightning fanatics gathered in an industrial Berlin sector for the first-ever Lightning Conference. With topics ranging from onboarding and interface design to the vogue economics of the nascent payment layer, Lighting Conference attendees said the event had the feel of bitcoin’s early days. However, lightning isn’t quite new. When it first debuted following its…