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Social Engineering — Free Online Training for Hackers

The Hacker News -

For most of us Hacking is Technological in Nature. But, we usually forget the most important element of hacking that makes a successful hack from 10% to over 90%... ...The Human Element. And here the Social Engineering comes in. Social Engineering deals with non-technical kind of intrusion and manipulation that relies heavily on human interaction rather than technology. Social

Kaye Scholer Holds Bitcoin Seminar with Winklevosses to Educate Financial Professionals

Bitcoin Magazine -

On Thursday, Kaye Scholer, the New York City-based law firm specializing in life sciences and financial services, held a seminar for many of its clients as an introduction to Bitcoin both as an asset as well as a technology.

Intended as an introductory session, the seminar included topics talking about what virtual currency is, the federal and state regulations and financial opportunities associated with Bitcoin, among other topics.

The presenters were Evan L. Greebel, a partner at Kaye Scholer; Keith McGowan, a partner at BDO; Cameron Winklevoss, co-founder and president of Gemini; Tyler Winklevoss, co-founder and CEO of Gemini; and Peter Van Valkenburgh, Research Director at Coin Center. The event was moderated by Kathleen Moriarty, a partner at Kaye Scholer.

“Kaye Scholer is a market leader in representing companies and entrepreneurs in the fintech space. Evan Greebel, Kathleen Moriarty and I joined that fintech team in July and are bringing our own Bitcoin and blockchain expertise to bear in New York, Silicon Valley and beyond," said Gregory Xethalis, counsel in the Corporate Division at Kaye Scholer, in an interview with Bitcoin Magazine. "The event was an opportunity to introduce our practice, and Bitcoin itself, to Kaye Scholer clients who are in the process of learning what Bitcoin will mean for Wall Street, both as an asset class and a technology.”

Van Valkenburgh explained in simple terms how the bitcoin blockchain works, including how the mining fee helps secure the network, and the risks that overregulation could have on the sector. The Winklevoss brothers touched on the long-term possibilities for Bitcoin both as a technology as well as an asset. Tyler Winklevoss explained how bitcoin could replace gold as a store of value because humanity may begin mining metals in space, where there is an oversupply of the same precious metals humans value for scarcity.

Overall, there were 65 attendees at the event ranging from individuals at large financial institutions (some that have already been active in the space), private hedge and private equity fund advisers and fintech professionals.

And while Kaye Scholer is the law team that has worked with the Winklevoss brothers on Gemini and the ETF, this was not an event to advertise Gemini.

“While trading professionals certainly would have an interest, it wasn’t a Gemini pitch so much as a Bitcoin informational session,” explained Xethalis.

This event is the first in a two-part series. While this event focused on the Bitcoin blockchain, the firm is holding a second one to focus in on blockchain technology as a whole.

“Tonight was intended to be an introduction to Bitcoin as an asset and technology,” Xethalis explained. “We are hosting a roundtable on November 5th that will include panelists from premier Wall Street companies that are exploring the blockchain and investors in blockchain-focused companies. That seminar will focus on the financial systems adoption of blockchain technologies for routine and complicated financial transactions.”

Jacob Donnelly is a full-time product manager and freelance journalist covering stocks, business, and bitcoin. He runs a weekly digital currency and blockchain newsletter called Crypto Brief.

The post Kaye Scholer Holds Bitcoin Seminar with Winklevosses to Educate Financial Professionals appeared first on Bitcoin Magazine.

Coinprism Launches Open-Source Permissioned Ledger With Bitcoin 'Anchors'

Bitcoin Magazine -

Coinprism , the colored coin startup that created the Open Assets protocol as experimented with by NASDAQ and Overstock , has announced Openchain.

Openchain is an open-source distributed permissioned ledger with optional “anchors” into the Bitcoin blockchain. It is designed to solve Bitcoin's scalability and compliance issues as encountered by financial institutions, while still enabling several of the use cases offered by the Bitcoin blockchain.

While Bitcoin's blockchain currently offers a trustless public ledger, and is secured by a record amount of hashing power, existing financial institutions are often unable to make use of these properties. Most importantly, Bitcoin has proved to be a challange from a regulatory perspective, as regulators often require financial institutions to offer a level of accountability that Bitcoin cannot give them.

“Public ledgers like Bitcoin have been problematic for financial institutions as transaction validation is delegated to a group of potentially unknown parties – the miners – while financial institutions are often legally required to vet every transaction going through them,” Coinprism founder and CEO Flavien Charlon said in a statement. “Openchain has been designed with these requirements in mind, and offers full control on transaction validation.”

Openchain allows each company or institution to deploy its own version of Openchain, for internal use. Within these companies or institutions, each level of the organization can transact on the corresponding level of their Openchain, using their unique digital signatures.

As such, higher levels within the organization have access to higher levels of the ledger, and are able to set permissions for lower levels. These lower levels, in turn, have access only to the lower levels of the ledger.

This, in effect, replicates the existing structure of an organization onto a blockchain-like system, while incorporating some of the advantages of blockchain technology such as transparency and auditability.

Additionally, Openchain allows different organizations to transact conceptually similar to how financial institutions currently conduct business. Essentially, several companies or institutions can set up mutual gateways through an API, connecting their Openchain ledgers.

This allows these organizations to create an account on the other Openchain, acting as a mutual liability. Once a transaction is validated by both parties, the accounts on both Openchain ledgers are adjusted simultaneously.

“Openchain features a powerful hierarchical account system, a hybrid between a file system and a double-entry accounting system,” Charlon said. “This lets the administrator of an Openchain instance define their business rules, such as anti-money laundering and know your customer regulation, by setting various permissions on accounts, with different levels of granularity.”

Because the distributed permissioned ledger uses a simplified and trust-based consensus mechanism, it exceeds Bitcoin's capabilities on a technical level. While Bitcoin is currently limited to a handful of transactions per second, Openchain offers several orders of magnitude more transactions than that. On top of that, Openchain's transaction validation is virtually instant.

Meanwhile, Openchain offers immutability by publishing “anchors” into the main Bitcoin blockchain at regular intervals. It can then benefit from the security and irreversibility of Bitcoin while keeping transaction costs to a minimum.

“While proof of work is central to building a fully autonomous, decentralized currency such as Bitcoin, it actually becomes a burden when you start tokenizing assets,” Charlon explained. “With Openchain, we have taken all the key characteristics of a Blockchain like immutability, auditability and programmability, but removed the legacy of proof of work. This allowed us to build an extremely efficient and scalable platform with no compromise.”

Openchain open source and is now available on GitHub. Coinprism offers a test wallet at wallet.openchain.org for developers and curious users to start experimenting with it.

The post Coinprism Launches Open-Source Permissioned Ledger With Bitcoin 'Anchors' appeared first on Bitcoin Magazine.


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