DeCurret Partners with KDDI to Test Digital Currency

A new collaboration is in progress between the Japanese telecom giant KDDI and crypto exchange DeCurret. According to a Feb. 18 press release, the two companies – in collaboration with au Financial Holdings and WebMoney – will conduct a joint-project to test digital currency issued on a blockchain for real-world transactions.

As the origin of cryptocurrency, Japan often leads the way when it comes to joint projects between companies in different fields, united by their desire to lead the pack in innovation.

E-commerce giant Rakuten partnered with the East Japan Railway Company on June 5 to promote a cashless payment system.

Issuance, distribution, and disposal of digital currency by DeCurret

As part of the implementation for this test, KDDI will make requests to WebMoney to issue and distribute digital currency, while the latter’s parent company au Financial Holdings manages the joint project. DeCurret will take a lead role by providing the platform for both the issuance and management of the digital currency.

The joint-project, which runs from Feb. 18 to Feb. 28, is part of DeCurret’s efforts to increase the range of services on their platform. In this case, the platform will be tested using cryptocurrency for real-world transactions like those at cafes.

DeCurrent has come a long way since its launch in April 2019. The crypto exchange has already gotten regulatory approval from Japan’s Financial Services Agency to allow its users to refill the country’s Suica transportation cards by using cryptocurrency.

Deloitte ‘Blockchain In a Box’ to Help Enterprises Showcase Tech

Deloitte, one of the “Big Four” professional services firms, has officially launched a plug-and-play product aimed to help enterprises showcase their blockchain solutions to clients.

The firm’s new “Blockchain in a Box” (BIAB) is designed as a mobile unit packed with four built-in nodes and several monitors that can be linked to external services such as cloud-based systems.

Firms wanting to demo their blockchain solutions can simply plug in SD media cards and load up their products into the system. Deloitte says BIAB “facilitates rapid selection and exchange of demo solutions tailored to specific client needs.”

Linda Pawczuk, principal at Deloitte Consulting and U.S. blockchain lead, explained in an announcement on Monday:

“Deloitte custom built this solution based on client interest in understanding blockchain capabilities in live interactions. What’s often misunderstood about blockchain is that it is an entirety of a technology solution – when in reality, it’s a technology component that enables larger business applications and approaches. Our mobile demonstration is practical, tactical and most importantly, tangible to clients.”

Deloitte said the product has already been demoed to “several” clients and more widely at conferences, including CoinDesk’s Consensus 2019.

Chih-Wei Yi, principal at Deloitte & Touche, commented that BIAB “helps to demystify blockchain and is a refreshing and well-grounded approach versus traditional slideware-based demonstrations.”

Cryptojacking Code Found in Eleven Open Libraries, Thousands Infected

A Cryptojacking code was found in 11 open-source code libraries written in Ruby, which have been downloaded thousands of times.

Industry news outlet Decrypt reported on Aug. 21 that cryptojacking code has been added to 11 open-source Ruby libraries distributed on the RubyGems platform. Per the report, the infected libraries were downloaded over three and a half thousand times.

Hackers reportedly downloaded the software, infected it with malware, and subsequently re-posted it on RubyGems.

The malicious code was first noticed by a GitHub user, who posted about the issue on Aug. 19. He pointed out that, when executed, the library downloaded additional code from text hosting service Pastebin, which then triggered the malicious mining.

Furthermore, the malware also sent the address of the infected host to the attacker alongside environment variables which may have included credentials.

Some users suggested that Rubygems contributors should enable two-factor authentication on their accounts given that, if compromised, they could be used to infect many systems.

A seemingly targeted attack

Five of the libraries infected were cryptocurrency-specific, with names like doge-coin, bitcoin_vanity, coin_base and blockchain_wallet. The last two were reportedly the most downloaded, with coin_base counting 424 downloads and blockchain_wallet 423.

As Cointelegraph recently reported, cybersecurity company Varonis has discovered a new cryptojacking virus, dubbed “Norman”, that aims to mine the cryptocurrency Monero (XMR) and evade detection.

Leave a Reply

Your email address will not be published.