Mark Zuckerberg looks into application of blockchain-based logins

Posted 21 February, 2019

Mark Zuckerberg, the CEO of Facebook, is mulling over the idea of applying the blockchain technology to the user authentication process in order not to rely on the third parties.

Mark Zuckerberg in the posted video interview with Harvard Law professor Jonathan Zittrain said that he was evaluating the possibility but saw no apparent way to implement the blockchain technology at the moment. According to the CEO, such a system will attract software developers that are not willing to rely on corporations that can restrict users to access certain resources. On the other hand, the approach will make it impossible to counteract intruders.

During the interview, Facebook CEO stated that If the company opts to use blockchain, it may result in the closure of its Facebook Connect service which is used to authenticate users on third-party sites.

Pursuant to Zuckerberg, a truly distributed system will allow his company to notably expand user capabilities and improve regulation of large divisions. Nevertheless, he believes that the final decision will depend on the public and its feedback, whether it wants to conduct its activities without intermediaries given a higher threat of data leaks and more complicated data processing or not.

Mark Zuckerberg also stressed that decentralized technologies still have a lot of technical bottlenecks that prevent its wide usage. 

"Decentralized things that are computationally intensive will be harder. They’re harder to do computation on, but eventually, maybe you have the resources to do that," he concludes. 

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21 February, 2019 13:37

← Investors in CryptoSolarTech to get their money back

A Spanish crypto mining startup – CryptoSolarTech – announced its decision to return investors $68 million that was attracted during the ICO. All the investors received a corresponding letter. Initially, the company planned to set up crypto mining hubs in the southern part of the country along with the solar power station project to feed the capacities. However, the company gave up this plan as the authorities refuse to give a construction license for it. There is no information about whether CryptoSolarTech maintains business after the completion of the refunding process. Moreover, it is unclear whether the company has the capital for the refunding at all. 

Investors in CryptoSolarTech to get their money back

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21 February, 2019 11:31

SEC: Gladius to refund ICO investors after self-reporting of rules violation →

The cryptocurrency project Gladius Network LLC has made a report to the US Securities and Exchange Commission citing that it violated the effective regulation while selling unregistered securities during its ICO. This case dates back to the year of 2017 when the company hold an ICO at the end of the year and generated about $12.7 million "in digital assets to finance its plan to develop a network for renting spare computer bandwidth to defend against cyber attacks and enhance delivery speed." The company reportedly get in touch with the authority last summer saying that they would like to follow the procedure and fix the violation that was made.

SEC: Gladius to refund ICO investors after self-reporting of rules violation
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