One small step for Central Bank Digital Currencies – Singapore, Canada and Brazil join the mix

Colleagues, we have written extensively about the CBDC initiatives underway in China (PBoC), US (US Federal Reserve) and the UK (Bank of England). More recently Singapore, Canada and Brazil have begun rigorous assessments of the strategic cost-benefit analysis for a sovereign digital asset. The most likely scenario is that one or more nations will launch these CBDCs which will co-exist with their current fiat currencies. The key question among first world countries is not which will be the first to adopt a CBDC, but rather, which one will be successful. Two fundamental challenges which make CBDCs more complex than their cryptocurrency cousins are: 1) Ability to traverse public and private sector ecosystems, and 2) Efficiency in processing trans-border remittances … while providing the highest levels of both security and transparency. When combined these factors will push the limits of Blockchain technology to new heights. Bottom line: The Cryptocurrency Academy stands by our prediction that 2019 will likely be a year of early adopter ‘field trials’ on a limited scale followed by roll-out of the initial CBDCs in the 2020-2012 timeframe. Share a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)  

Take your Linux programming career to the next level - Kubernetes for Developers (LFD259)

Colleagues, this course from the Linux Foundation will teach you how to containerize, host, deploy, and configure an application in a multi-node cluster. Starting with a simple Python script, you will define application resources and use core primitives to build, monitor and troubleshoot scalable applications in Kubernetes (an open-source container-orchestration system for automating deployment, scaling and management of containerized applications). Working with network plugins, security and cloud storage, you will be exposed to many of the features needed to deploy an application in a production environment. Key topics to be addressed include Containerize and deploy a new Python script, Containerize the deployment with ConfigMaps, Secrets and Security Contexts, Understand multi-container pod design, Configure probes for pod health, Update and roll back an application, Implement services and Network Policies, and Use Persistent Volume Claims for state persistence. Enroll today at  https://tinyurl.com/ya4n9q7c Much success in your career, Lawrence Wilson – Online Learning Center (https://onlinelearningcentral.blogspot.com/)

Can the KingMiner mining malware attack impact crypto assets beyond Monero?

Colleagues, the KingMiner is the latest in a virtual tsunami of crypto mining malware attacks during the past year. First detected by cyber security experts at Check Point Software this malware has the ability to morph once it has penetrated the target host … thus making identification and mitigation much difficult than its predecessors. Check Point reports that KingMiner primarily targets Microsoft SQL and IIS server software for the purpose of mining Monero. While Monero only ranks 12th in market value among cryptocurrencies according to CoinMarketCap, the potential for KingMiner to capture 100% of GPU/CPU power of the targeted system is a real and present danger. Bottom line question: Does KingMiner have the ability to move beyond Monero and move up the cryptocurrency food chain and mine for Bitcoin Cash, Ripple, Ethereum and ultimately Bitcoin? We believe this worst-case scenario is highly unlikely. However, given KingMiner’s malicious success the potential for ‘copycat’ malware code with the similar morphing capability remains a serious threat. Share a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

How secure are cryptocurrency software wallets against cyber criminals injecting malicious code?

Colleagues, the on-going debate regarding which type of crypto wallet is more secure continues with no clear consensus – hardware, software, clod-based and paper wallets. This debate has returned to the spotlight given the recent security breach of BitPay’s Copay (software) Wallet. Copay claims its mobile The Copay app securely stores multiple, distinct bitcoin wallets, allowing both business and privacy-conscious users to keep funds carefully separated. GitHub issued a memo to users reporting an  ‘event-stream` dependency attack steals wallets from users of copay. For details take a look at the YCombinator news feed on this attack. The bottom line: For individual digital asset traders software wallets are immensely more convenient than hardware and paper wallets, however, they are far more prone to cyber-attacks – quantum password processing, malware and adware … just to name a few. If you do use a software wallet we highly recommend using any and all security features at both the application and OS levels. The Copay breach reminds us that the cryptocurrencies are no more secure than the weakest link in the crypto ecosystem. Share a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

What impact will ICE’s decision to delay the Bakkt platform launch on Bitcoin futures trading?

Colleagues, those of us in the technology or financial services sectors know that product delays are common. The Cryptocurrency Academy applauds ICE’s move to postpone Bakkt’s launch until late January 2019 for the primary purpose of due diligence and quality control. ICE fully acknowledges that Bitcoin futures are “commodities” (and not “securities”) which must be refreshing news to the US CFTC. Bakkt will set the price in a one-day physically settled Bitcoin futures contract. The billion-dollar question is what impact this delay will have on cryptocurrency futures trading in general and Bitcoin prices in particular. Bakkt is a strategic and high visibility launch for the global cryptocurrency ecosystem. ICE is determined to get it right. The implications of a faulty Bakkt platform launch would have major repercussions. We deem this delay to be for all the right reasons, however, if it is pushed into February or March institutional investor confidence will be heavily eroded. Share a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)  

What is the fate of cryptocurrency derivatives?

Colleagues, cryptocurrency ETFs, Exchange-Traded Notes (ETNs), Futures Contracts and Swaps have drawn the scrutiny and ire of regulatory bodies … particularly in England and the US. A key factor is whether cryptocurrencies are categorized as securities or commodities. Moreover, government entities are committed to protect the public interest of consumer or individual traders which may not have the resources nor expertise of institutional investors. This is true for the US CFTC and the British Financial Conduct Authority (FCA). In the US the CFTC has approved TrueEx exchange for Designated Contract Marketplace (DCM) swaps. Brexit aside, the British FCA is seeking to enforce the EU Anti-Money Laundering Directive (5AMLD). The Cryptocurrency Academy predicts that regulatory scrutiny for derivatives will not be resolved until the more fundamental issues (e.g. the legitimacy of crypto assets as securities or commodities are fully resolved in the coming 12-24 months. For now, we recommend the individual traders take a cautious approach to derivatives. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Is there a Crypto Ruble Central Bank Digital Currency in Russia’s future?

Colleagues, central bankers around the world have commented on the viability of a CDDC in their respective nations for the past 2-3 years. The US Federal Reserve, PBoC, Bank of England, EBC and the State Bank of the Russian Federation have each weighed-in on this critical matter. Although the Cryptocurrency Academy does not want to handicap the odds and timetable for each nation state this we do know: The central banks of many of the world’s largest economics are seriously considering a CBDC. We have previously published posts on the US Fed and the PBoC. More recently, we have seen Russia’s central bankers prediction of a CBDC within the next 24-36 months. This forecast is generally in line with the statements (and actions) of their peers in other nations. Nevertheless, the BoE would appear to be in the lead with the PBoC Closely behind. The US Fed is cautiously assessing the viability of a US CBDC; however, major concerns over security and transparency remain. Not so with the PBoC which is actively developing the infrastructure for a Chinese CBDC as is the BoE. Russian officials state that future Crypto Ruble might even have parity with the existing fiat Ruble. We hold fast to our own prognostication: Within 2-3 years, these nations – along with Japan – are highly likely to have launched or be in an advanced development and testing phase of CBDCs. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)