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Monday, September 24, 2018
Charity on the Blockchain, Partnerships, Tech Update and more! - IOST Bi-Weekly update: 24/09/18
Hi 
IOST's CEO, Jimmy Zhong was a headline speaker at Blockchain Seoul 2018's "CEO Summit" last week. Speaking alongside some of the top projects in the blockchain industry, Jimmy addressed some of the hottest topics for blockchain including sharding, scalability and IOST's "PoB" consensus mechanism! His speech was covered by several Korean news outlets including 
IOST Chief Technology Officer - Terry Wang answered tech questions from the community last week in the start of regular Q&A sessions created to allow our community to ask tech questions directly to the IOST tech team!
Ginco is developing a high-security wallet to reinstil confidence in a blockchain industry that has been rocked by hacks and security bugs. 
A bug and its lesson
September 24, 2018
QUOTE OF THE DAY 
“People who try to look smart by pointing out obvious exceptions actually signal the opposite.”
- Naval
| COIN | PRICE | 24H |
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| BTC | $6,616.229396 | -1.77% |
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| ETH | $234.434618 | -4.23% |
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| XRP | $0.531231 | -6.56% |
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| BCH | $470.656179 | -4.79% |
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| EOS | $5.737885 | -4.7% |
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*Information as of 9:30 AM EST
The Latest Bitcoin Bug Fix is an Important Lesson for Crypto
Taking responsibility
Last week, it was revealed that Bitcoin had a major bug that miners could have exploited to inflate the supply of Bitcoin past 21 million Bitcoin.
After drama circulated the community and many begin pointing fingers, Bitcoin developer John Newbery stepped forward as the reason the bug went unnoticed.
In a tweet posted yesterday, Newbery took the blame:
However, the truth is, the entire community is responsible for the problem.
We can't point fingers
There is no single person to blame for any Bitcoin bug. That is the power behind Bitcoin consensus.
In a self-regulated environment like Bitcoin, the community is responsible for reviewing and verifying the changes made to the network. While developers play a key role in creating the code, they are only part of the process.
An end to arrogance
In addition to pointing fingers at Newbery for his mistake, conflict arose between the Bitcoin and Bitcoin Cash communities as supporters of the cryptocurrencies took shots at each other.
Ironically, however, it was revealed that a Bitcoin Cash developer actually discovered Bitcoin's vulnerability and drafted a responsible disclosure.
Cobra, the owner of Bitcoin.org, shared his thoughts on the matter:
"Turns out a Bitcoin Cash developer saved Bitcoin from one of its worst and most dangerous bugs ever. Let this be the end of the arrogance and hubris of the Core development team and their cult followers. Both communities are more powerful working together, not against!"
A short reminder
In closing, let this be a reminder that the true enemy is the banks, corporations, and governments who have taken rights away from the people
...not other cryptocurrencies within the community.
Winklevoss' Exchange Gemini is Looking to Enter the UK Market
Expanding beyond the United States
According to the Financial Times, Gemini's creators, the Winklevoss brothers, are looking to enter the UK market.
So far, Gemini hasn't stated anything official but sources close to the matter say the US exchange has now hired advisors to oversee a possible UK expansion.
However, Gemini told FT it has no "immediate plans" but continued:
"[We] continue to explore potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community."
Getting the green light
To effectively enter the UK market, the exchange must be on the same page as regulators.
According to one source, Gemini is "close to" filing an application to practice under the Financial Conduct Authority (FCA).
The new report about Gemini's expansion comes just after UK Members of Parliament pushed the FCA last week to begin regulating the crypto environment effectively and bring light to the gray area.
Alex Jones' Infowars May Switch to Accepting Cryptocurrency After Being Cut Off by PayPal
PayPal gives Jones the boot
Following the actions of other tech giants, PayPal is now the latest company to ban Alex Jones from its payment processor platform.
According to a PayPal spokesman, an "extensive review" of Jones' Inforwars site was conducted and PayPal "found instances that promoted hate or discriminatory intolerance."
Following the review, PayPal made the decision to ban Infowars from its service and gave Jones 10 days to find a new payment processor.
Turning to cryptocurrencies
In protest, Jones' followers are now reportedly calling for Infowars to start accepting cryptocurrencies as a form of payment.
Though nothing has been officially announced, many are pointing to Coinbase Commerce as a possible option to process crypto payments without the need for a middleman.
However, it is unclear if Coinbase can control API access and deny Jones from using its platform like a handful of Silicon Valley businesses already have.
The beauty of crypto
The complete freedom to transact without a central authority is why cryptocurrencies are remarkable and whether you agree with Jones' opinions or not, no one can stop him from receiving crypto payments.
There Will Be Greener Pastures Ahead, But There Is No Telling When
Crypto is like a rollercoaster
It is important to remember cryptocurrencies are still in a very, very early stage. Crypto was created with the mission of democratizing money and to allow for trustless asset exchange.
While the value of the crypto market was once $800 billion, do you think crypto has accomplished its mission to any extent?
Even Vitalik Buterin has admitted that crypto has not made enough impact on the world to deserve its valuation. The thing is though, it can. This is why people are speculating.
"I'm in it for the technology"
Yes, it is a meme that crypto investors are investing because they like the tech. A majority of investors goal is to make a quick dollar rather than see crypto's mission fulfilled.
It is alright to want to make a profit on crypto. But, do realize that it really is the technology that drives the price in the long run.
With a technology of this potential, it is better your investment horizon be decades rather than days. It takes time for a technology that has the ability to redefine all aspects of our lives to reach its peak.
The smart money and talent is in or is coming to crypto
The political and social climate of today's world is inspiring the top tech talent to migrate to crypto.
Government distrust has never been lower and social media sites are plagued by bots and propaganda. Central authorities are losing the trust of the citizens. Tech developers have observed this and want to make a difference. Crypto is the medium to help them accomplish this goal.
First comes the talent, then follows the money. As in any business or investment, it takes capital to get off the ground. So many new venture capital firms focused on crypto and blockchain have popped up in the recent years. Also, Wall Street has begun its crusade on crypto. Institutional investment is where the major money is and can seriously legitimize cryptocurrencies as valid financial assets.
But won't governments squash crypto before it gets too powerful?
A common fear of cryptocurrency enthusiasts is that powerful central governments will outlaw cryptocurrencies. China and some other countries have already done this.
The powerful thing about the nature of cryptocurrencies is that a central authority can't feasibly eradicate crypto. Governments know this. That is why a 'deregulation race' is happening.
Governments know the potential of blockchain and are fighting to entice developers and startups in the industry into their borders. The governments that instead try to stifle the development crypto will be left behind. Smaller countries who are able to be more flexible and enact new legislation quickly will be at an advantage.
We're all in this together
If you really are a believer, it is crucial you do your part. We, as a community, need more than speculators.
Most importantly, you should know how a blockchain works, at least at a basic level.
Tell your friends about it, help them set up a wallet and send them a little bit of crypto to get started. Reach out to merchants and ask them to accept crypto. Contact government representatives and let them know your view on crypto-related regulations. Get involved in a project. Overall, it really is about adoption.
- Juventus Football Club is teaming up with Socios.com to launch the "Juventus Official Fan Token" to give fans a voice.
- The Dubai Department of Finance (DoF) has partnered with the Smart Dubai Office (SDO) to launch a blockchain-powered payment system.
- Today, Opera is launching a “Labs” special edition of its desktop web browser with built-in crypto wallet functionality.
Mainframe (MFT)
Mainframe is the platform for decentralized applications. Resistant to censorship, surveillance, and disruption, the Mainframe network enables any application to send data, store files, manage payments, run tasks, and more. With the exception of a catastrophic asteroid event or an aggressive alien invasion, the Mainframe network is simply unstoppable.
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