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Nibras Stiebar-Bang believes blockchain may help the European Union’s digital identification initiatives. The European Union’s move towards a unified digital identification system aims to enhance regional convenience and security. However, Concordium CTO and CPO Nibras Stiebar-Bang cautions that such efforts must balance improved access with stringent privacy safeguards. In an interview with crypto.news, Stiebar-Bang acknowledged the intent behind standardized digital IDs to ease identity verification for citizens accessing services across EU member states. “It will bring added convenience to both citizens and institutions requiring ID verification,” he said. However, the blockchain expert warned that such convenience cannot undermine personal data protection. “Privacy and data protection” must remain priorities, Stiebar-Bang emphasized, noting apprehensions around increased “digital surveillance” and centralized data storage that c...

To boost users’ activity, SK Telecom has launch ed a digital currency for virtual purchases in its metaverse dubbed Ifland. One of the largest telecommunication companies in South Korea is taking another step towards the adoption of metaverse technologies. SK Telecom, a Korean telecom provider with over 30 million customers, announced in a press release on Monday, Oct. 16, 2023, the launch of an economic system to its metaverse platform Ifland, with a new virtual currency named “Stone.” Virtual meetup in ifland | Source: SK Telecom You might also like: Korean IT firm, NHN, to develop games on Sui network According to the Seoul-headquartered company, the digital currency can be used to purchase virtual items with “high collectible values” and to sponsor hosts of events or meetups. With the launch of Stones, SK Telecom wants to bring in more users as influencers can now generate profit by receiving donations from subscribers. “Goi...

The world of NFTs has fallen prey to an unexpected wave of school-age cyber bandits, orchestrating intricate phishing scams that have netted them million s in stolen assets. The digital finance platform Orbiter Finance was victimized last month when a false journalist impersonating an employee of a cryptocurrency news outlet deceived a Discord moderator. This ruse allowed the false journalist to gain control of the Discord server, limiting administrators’ abilities and preventing community members from messaging. The infiltrator used this control to promote a fictitious airdrop event, directing users to a phishing site meant to steal their NFTs. As a result, NFTs and tokens valued at approximately one million dollars were taken. For a brief moment, our Twitter account was compromised. We have successfully regained access and removed the malicious posts. We are investigating how this happened. Stay safe and always verify links you see on Twitter! — Zerion (@zerion) Ju...

As the world of Web3 emerges, decentralized digital identities present a promising alternative to the current. As the world of Web3 emerges, so too does an exciting opportunity to emphasize the importance of trust and security in a digital world. Digital identity and credentials play a significant role in helping users manage their IDs and control their personal information securely. Digital identifiers can include national ID information, personal emails, phone numbers, cryptocurrency addresses, Discord accounts, bank logins and anything else related to a person and their identity. Digital IDs have been around for a while and have had a major impact in Web2, but their role will significantly increase with the mass adoption of Web3 applications. In Web2, usernames and passwords have become ubiquitous, with almost every online service relying on them as access credentials. However, this approach has resulted in numerous security issues, such as storing data on private servers beyond us...

Join Our Telegram channel to stay up to date on breaking news coverage In October, the Investment Industry Regulatory Organization of Canada registered Toronto-based Coinsquare as the country’s first cryptocurrency trading company (IIROC). This is significant since Coinsquare is now forced to disclose its financial condition on a regular basis and investors’ monies are now protected by the Canadian Investment Protection Fund in the event of collapse. This news serves as a reminder of the unique aspects of Canadian crypto currency regulation. The nation outperforms the neighboring United States in its experiments with crypto currency exchange-traded funds (ETFs), pension fund investments, and central bank digital currency (CBDC) efforts—even though it still has a somewhat rigid licensing process for producers of virtual assets. A time of limited dealers Since none of its rivals can now claim the same legal footing, Coinsquare, which also happens to be Canada...