Adapting Bitcoin Tech for Major Currencies


#1

Dip your brain into the amazing world of increasing abstraction & light-speed transactions. Any banker who has had to deal with the SWIFT system of “wire transfer” transactions would tell you what a pain it is and how expensive it is. Of course at the birth of SWIFT their counterparts could only sing the praises of the “next big thing” in international finance. So Amaze! Such Safe! Oh Wow!

Now IBM, which has enabled transformation in everything from corporate finance to extermination camp census systems, wishes to be at the forefront of the coming transformation in central bank tech. And, it would appear they have most pieces of the puzzle in place to do it right: central control of tokenized transactions recorded on proprietary blockchain systems. Yup, something really is Coming Soon™…


#2

PayPal going SHA-256 encryption . I receive this email last week.

What’s happening? Over
the course of 2015 and 2016, PayPal will be working towards upgrading
various SSL certificates. The changes include upgrading the following: The version of the VeriSign Trusted Root Certificate used to establish secure connections to PayPal. The signing algorithm of certificates (from SHA-1 to SHA-256). Why is this happening? We’re
taking measures to address industry-wide security concerns which aren’t
unique to PayPal. When implemented, these measures can help us improve
the security and reliability of our PayPal integrations and help guard
against current and future security threats.


#3

They are always so far behind the curve getting proper security features in place. I am sure eventually department stores will see the writing on the wall and upgrade their technology.


#4

I remember reading an article on this a while ago. I was completely bowled over by the epiphany of it all. Supposedly, there were a number of American corporation that were directly or indirectly responsible for “technologies” used in such applications.


#5

Corp execs in the US were not necessarily aware of what was done by licensees / subsidiaries in other countries, the idea of corporate responsibility back then was non-existent. Hollerith punch cards & counting machines were used in Germany.