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cryptocurrency July 10, 2018

Binance leads massive Pre ICO round, Bancor has been hacked, and IBM works with Delaware on new filing system.

Binance leads massive Pre ICO round for Oasis Labs. Photo from Shutterstock.

Binance & Andreesen Horowtiz’ a16z Lead $48 Million Pre ICO Fundraising Round

Oasis Labs, a startup developing privacy-focused smart contracts, has successfully raised $48mm from top crypto-investors like Binance, Andreesen Horowitz, Polychain, and more. Ccn.com reports that the company is led by Dawn Song, a professor of computer science at UC Berkeley. The team is primarily made up of security and academic researchers who will aim to take on companies like Amazon Web Services with their more private, secure and efficient cloud solution. When asked by Techcrunch, Song stated, “We use a combination of trusted hardware and cryptographic techniques (such as secure multiparty computation) to enable smart contracts to compute over this encrypted data, without revealing anything about the underlying data.”

Bancor Hack Results In $12 Million In Stolen Ether

According to a tweet from Bancor and as seen on ccn.com, the decentralized exchange platform had a vulnerability exposed yesterday causing it to lose 24,984 ETH (roughly $12 million), $1 million worth of NPXS and $10 million worth of BNT. The Bancor tokens (BNT) were frozen shortly after the hack was discovered, which caused even more controversy for the platform. Touting itself as decentralized and working towards this philosophical goal, but doing so while knowingly having the ability to freeze users’ tokens, has been widely criticized throughout the community since the hack. Bancor raised $153mm in July 2017 in what was one of the largest ICOs to date.

IBM Embarks On Blockchain Filing System With The Help Of Delaware

IBM has been awarded $738,000 to start on a prototype Blockchain filing system. As reported on ccn.com, the project will be for Delaware to use as a corporate filing system for the state. The state believes they can cut costs and raise prices with the new filing system, all while further cementing itself as a Blockchain-friendly state. This comes shortly after IBM won a massive contract from the Australian government for “digital technology initiatives”.

Source: ICO Alert

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