Digital currency Ethereum may have less than a month to live

A $50m hack sent the value of digital currency Ethereum tumbling yesterday (June 17) from around $21 to below $15, reported Business Insider in Singapore in response to Ethereum’s own blog post release. The money is currently currently sitting in a locked fund and can’t be moved for 27 days. The entire system’s software could […]
Digital currency Etheruem may have less than a month to live

Written by Clive Reffell

Jun 18, 2016

A $50m hack sent the value of digital currency Ethereum tumbling yesterday (June 17) from around $21 to below $15, reported Business Insider in Singapore in response to Ethereum’s own blog post release.

The money is currently currently sitting in a locked fund and can’t be moved for 27 days. The entire system’s software could be updated in that time to prevent the stolen currency being removed, though not all Ethereum backers agree with this course of action, writes The Register.

Meanwhile, today’s Times in London carries an article on how Mark Carney, governor of the Bank of England, “hopes to encourage innovation in financial technology, or “fintech”, by working with tech-focused financial companies that are designing cybersecurity programmes and new payment systems.” Perhaps the Ethereum news wasn’t what he had in mind.

 

 

About Author

About Author

Clive Reffell

Clive has worked with Crowdsourcing Week on sourcing and creating content since May 2016. With knowledge and experience gained in a 30+ year marketing career based in London, UK, he operates as an independent crowdfunding advisor helping SMEs and startups to run successful crowdfunding projects, and with wider social media and content marketing issues.

You may also like

Crowdfunding For Causes Does More Than Raise Money

Crowdfunding For Causes Does More Than Raise Money

The crowdfunding platform GoFundMe recently announced it had broken the $30 billion barrier for the total amount of money people have raised on it. We are all quite aware of the multitude of individuals who have asked for donations to help pay medical bills, education...

How To Predict Crowdfunding Success Through Data Analysis

How To Predict Crowdfunding Success Through Data Analysis

Predicting crowdfunding success is a rapidly evolving field, and analysis of big data from various sources is becoming increasingly powerful for this purpose. An academic study concluded that the success of crowdfunding projects can be predicted by measuring and...

Speak Your Mind

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload CAPTCHA.