Promises Archives -
Jair Bolsonaro was sworn in as Brazil’s president Tuesday, taking the reins of Latin America’s largest and most populous nation with promises to overhaul myriad aspects of daily life and put an end to business-as-usual governing. For the far-right former army captain, the New Year’s Day inauguration was the culmination…
President Emmanuel Macron broke his silence Monday on the exceptional protests shaking France and his presidency, promising broad tax relief for struggling workers and pensioners—and acknowledging his own responsibility in fueling the nation’s anger. Speaking with a soft voice and gentle tone, Macron pleaded during a brief televised address…
Mexico’s newly inaugurated president kicked off his first Monday in office with something not seen in recent history—a news conference and a pledge to hold one every working day of his six-year term to keep the people informed. Two days after taking the oath as the first leftist president…
Rep. Adam Schiff, D-Calif, continued his public feud with President Trump on Sunday, calling him “weak” and promising to get to the bottom of Matthew Whitaker’s appointment as acting attorney general.
Nigeria’s main opposition leader and former vice president, Atiku Abubakar, has said the country will adopt blockchain technology and cryptocurrency if he is voted into power. In his policy document, Abubakar revealed plans to create a legal policy that, among other things, will see blockchain and cryptocurrencies taught from primary school through university.
More than 50 candidates are jostling to defeat Muhammadu Buhari, Nigeria’s incumbent president, in general elections slated for February. Abubakar is the main contender as the representative of the People’s Democratic Party. The business tycoon — who owns companies cutting across the agriculture, logistics, media, and food and beverage industries — previously served as vice president under the former government of Olusegun Obasanjo from 1999 to 2007.
In his campaign policy document, released Nov. 19, Abubakar promised to “produce a comprehensive policy on blockchain technology and cryptocurrencies” if he is elected as president of Africa’s biggest economy in the 2019 election. He revealed plans to build a knowledge-based economy powered by information and communication technologies, including blockchain and digital assets. Abubakar stressed that his government will improve literacy in these technologies by altering the school curriculum, so students can learn about them from primary school.
My mission is to ensure that Nigeria’s economy is responsive to the challenges of the 21st century knowledge economy by keeping with the amazingly dynamic technological pace.
The current Nigerian government has not particularly embraced cryptocurrencies. Godwin Emifiele, the governor of the Central Bank of Nigeria (CBN), has likened cryptocurrencies “to a gamble.” The authorities hold this stance in spite of the fact that Nigerians continue to flood into the digital currency space in search of cheaper and faster ways to send money abroad, or receive it. They have also been using cryptocurrencies to hedge against inflation and exchange-related losses of the naira, the local fiat unit. According to Citigroup, Nigerians account for the world’s third-largest holdings of bitcoin as a percentage of gross domestic product, after Russia and New Zealand.
However, the Nigerian government has launched an investigation into the pros and cons of adopting bitcoin as a means of payment. Financial technology startups in the West African country have called on the CBN to provide legal guidelines for the cryptocurrency and blockchain industry. A lack of regulation is driving investment out of Africa’s biggest economy to nations like Rwanda and regions such as Europe while fomenting uncertainty, they say.
In his “Get Nigeria Working Again” policy document, Abubakar said: “Nations that will prosper are those that embrace (a) comprehensive, agile approach that infuses the influence of rapid technological advancement into every area of governance and policy to address the issues of inadequate technological infrastructure, funding and poor database.”
Do you think Abubakar will fulfill his promise? Let us know in the comments section below.
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Iranian President Hassan Rouhani vowed that his country would resist tough new U.S. sanctions on Iran’s oil and banks, as Tehran braced for a new era of political and economic isolation.
WSJ.com: What’s News Europe
Tesla Inc. stock jumped Thursday morning after an upbeat report showed booming sales for the electric-car maker’s Model 3 and fulfillment of Chief Executive Elon Musk’s promises that Tesla would turn a profit and improve its cash flow.
The stock surged as much as 11% in after-hours trading Wednesday…
Wiz Khalifa is so jacked up about his song with Tyron Woodley … he’s tellin’ TMZ Sports 100 different versions of it are on the way!!! We got Wiz leaving The Forum on Wednesday night when we brought up the magic words that turned him from…
“On Oct 13, 3:00 CDT I will be doing a 51% attack against the cryptocurrency Einsteinium,” began the call-to-arms. As promises go, this one was as bold as it was brazen. The anonymous attacker has promised to assume majority hashrate control of an altcoin to demonstrate how easy the process is. As proof, they’ve not only given fair warning of the attack, but have promised to livestream the event.
51% Attacking Altcoins Is Now a Spectator Sport
51% attacks, in which a malevolent attacker gains majority control of a cryptocurrency’s hashrate, and then potentially uses this advantage to fraudulently double spend transactions, have been a recurring motif in 2018. During the course of three months, a string of altcoins were 51% attacked including bitcoin gold and verge, the latter succumbing twice. Now, another scrypt-based coin, einsteinium (EMC2), is in the spotlight after being singled out for attack.
The entity responsible, operating under the handle of “piracy1”, has disclosed extraordinarily precise details as to when and how the attack will go down. The reasons stated are to “1. Demonstrate how easy these attacks are for anyone to do. 2. Generally teach people about the nuts and bolts of these attacks and potential mitigations.” For interested parties, a livestream link has been provided, with the action scheduled for 4am EST on October 13.
Oct 13, 3:00 CDT (8:00 UTC) I'm doing 51% attacks against real live CryptoCurrencies and explaining the whole process on twitch. https://t.co/JQm34LrvhW
— GeoCold (@geocold51) October 8, 2018
Low Hashrate Altcoins Have Become a Joke
In selecting EMC2, the aspiring attacker could hardly have chosen an easier target. The altcoin is this year’s third worst performer, down 97% from its all-time high. Devalued PoW coins typically have a hashrate commensurate with their price, making them vulnerable to malicious or bored attackers. The monetary rewards to be derived from 51% attacking a coin such as einsteinium are likely to be negligible. In fact, all indications suggest that the would-be attacker has no interest in attempting to confirm double spent transactions. As a consequence, the attack is likely to cost piracy1 money in renting the necessary hashrate to complete their assault.
“I’m putting in $ 50 of my money and if you want to donate you can,” they explained. This derisory figure demonstrates the cheapness with which a low hashrate altcoin can be owned. According to crypto51.app, scrypt-based alts can be attacked for an hour using rented hashpower for as little as $ 22 in the case of florincoin. Should EMC2’s attacker make good on their promise, they won’t have proven anything that wasn’t already known: attacking low cap altcoins is easy and most Proof of Work cryptocurrencies outside of the top 10 are sitting ducks.
Would you watch a livestream of an altcoin being 51% attacked? Let us know in the comments section below.
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At a hastily arranged news conference during a World Economic Forum meeting in China, a pair of U.S. lawmakers vigorously defended President Trump’s policies and took issue with remarks made by Chinese Premier Li Keqiang.
WSJ.com: What’s News Asia