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.

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