There is something lazy about the crypto exchange WEX – users can not withdraw their money

Users of the crypto exchange WEX, the successor of the Russian platform BTC-e, report problems with the withdrawal of their money. This raises new questions. Slowly it becomes uncomfortable, because the users want to know – of course rightly – when everything is okay again.

The problems of the users occurred after some unusual phenomena had been observed on the platform. Earlier this week, the price of Bitcoin against the US dollar on WEX suddenly rose to 9,000. Scene observers explain that this anomaly could have a number of causes: from short-term increases in platform withdrawal fees to suspicions of bankruptcy.

According to BTC-ECHO, Btc-e was renamed WEX on September 15, 2017, after a relaunch of the Crypto Exchange was required due to numerous incidents involving hacker attacks and government intervention. At that time, too, difficulties with the payout option had been identified in the run-up to the relaunch.

Numerous open questions regarding the news spy

The Russian news agency RBK reports that the news spy owner of WEX, Dmitry Vassiliev, associates the price differences with activities of Dmitry Sutormin, a former WEX manager. Vassiliev explained that Sutormin, vice president of the Russian Association for Cryptocurrencies and Blockchain and Russian venture investor, had sold a large number of the news spy.

Sutormin has carried out the purchase and sale of WEX codes in any quantities. Vassiliev explains that „this means that there are now a lot of these codes on the market. Everyone who bought these codes now wants to buy Bitcoin. As prices went up, few are ready to sell.“ Via Facebook, Vassiliev had announced that he was not sure what role Sutormin was currently playing. He did not want to comment on further details.

Sutormin, however, explained that he had no connection to WEX and never worked there. „I bought and sold my own codes, in fact I was a customer of the exchange,“ he said. When asked why he wanted to sell his codes, he said he was influenced by the hype about crypto currencies and added that this was a popular store in Moscow.

Who runs the Bitcoin secret now?

Vassiliev’s comments cast doubt on who is currently running the Bitcoin secret. had reported that Vassiliev intended to sell the stock exchange to Dmitry Khavchenko. Khavchenko is a former volunteer fighter in the war in Ukraine and a participant in the military conflicts in Crimea. There he had supported the Russian annexation in 2014.

Khavchenko told RBK that he would move WEX’s office to Crimea and register the company in the war-torn Donbas region of Ukraine. On Twitter, however, WEX denied that it was planning to sell the company. In addition, they did not answer any questions about who is currently responsible or why or how the rise in prices occurred at the beginning of the week.

There is something lazy about the crypto exchange WEX – users can not withdraw their money

Identity 6.0: What we can learn from Mr. Robot

We embark on a journey to personality: What does identity mean? How do we move from analogue to digital identity? Now we’re coming to the end: What can decentralized technologies do for digital identity? Today: Identity 6.0.: What we can learn from Mr. Robot.

Anyone who has seen Mr. Robot retains a queasy feeling. You want to mask your laptop camera quickly, paste the microphone and throw the computer right out of the window – because nothing is safe. The protagonist of the series, Elliot Alderson, says at one point:

„People are always the best security holes. I’ve never found it particularly difficult to hack most people“.

Mr. Robot and the question of digital identity and the Bitcoin secret

In the fight against the multinational conglomerate Evil Corp., the paranoid schizophrenic Elliot Alderson hacks his way into the lives of his fellow men almost effortlessly – and somehow into their heads, too. While watching, a gloomy picture emerges of the Bitcoin secret that is just as paranoid as the protagonist of the series. Almost all of us carry the recipients who make such hacks possible in our trouser pockets. Ultimately, our smartphones contain everything that defines us: the bank account, the shoe size, sexual preferences and the taste for music. All this floats somewhere in this elusive space of the digital Bitcoin secret.

At the latest after Elliot Alderson has been observed effortlessly hacking identity data, the question of the security of his data should occupy you. Then you can ask yourself the question: To whom does this data belong at all? The answer to both questions lies on central servers. Whether it’s security and the associated protection of the data or the power to dispose of it – in most cases both lie with individual „Evil Corps“ and rarely with individuals.

How do we regain power over our cryptosoft data?

One more reason to think about how to regain power over your data: Approaches already exist, but so far the urgency of using them does not seem to exist yet. Be it convenience or simply ignorance: Many people still don’t seem to care what happens to their data. If you still want to look for alternatives, we have some suggestions where you can regain power over your cryptosoft data. You also get money for it.

Steemit – Getting paid for blogging
Steemit resembles Reddit the most among the well-known social networks. The main difference is that all blog entries are stored on the blockchain. These blog entries can be posted from accounts. If you create entries that are particularly worth reading, hearing or seeing, other users can rate them with Steem Power or Steem Dollar. There is also an internal reputation system. The decentralized network offers a first approach to escape the data kraken by the internal crypto currency and the Wallet system.

Jolocom – Sovereign digital identities
The Jolocom project aims to offer its users a „self-sovereign identity“. An option, then, is to manage one’s identity data in a sovereign manner via an app. In combination with a wallet and the possibility to identify themselves by fingerprint, users will also be able to decide who to give their data to, how and when – especially what they get for it.

Minds – Like Facebook, only better
Minds is a project that is probably most suited to the habits of its users. It combines the features of Twitter, YouTube and Facebook – the users probably don’t have to get used to it the most when they change. The code behind the platform belongs to the community – everyone has access and can change it. By preventing censorship, the network supports freedom of expression. But it also gives users a platform whose opinion they don’t necessarily want to hear. But you can manually filter your newsfeed to avoid this.

Here, too, users can earn money with their data. With a peer-to-peer advertising system, users can advertise and get money for it. You can pay in Bitcoin or by credit card.

Famous last words
Admittedly, the selection presented is extremely small. In the world of blockchain and decentralization there is a lot to do

Identity 6.0: What we can learn from Mr. Robot

Jasper: Canada’s financial industry relies on Blockchain

The Canadian Jasper III project is intended to modernise the financial market with the help of distributed ledger technology and bring it closer together. The consortium is very satisfied with the implementation. Only the claim to reduce costs thanks to the blockchain is not working as hoped.

A Canadian finance consortium around the Central Bank of Canada is developing a comprehensive transaction system for the financial sector under the project name „Jasper“. The aim is not only to make financial transactions more efficient, but also the entire trading process, including the securities market.

Jasper in competition with the Bitcoin loophole

Jasper is thus in competition with the Bitcoin loophole, which has been internationally established for decades. In the interbank market, transactions of almost any kind are processed via the SWIFT communication system. However, the system is outdated and it can take several days to complete transactions.

Reuters reports that the Bank of Canada, TMX Group, Payments Canada and Accenture are now demonstrating that a transaction of central bank money or securities is possible almost in real time. The tokenized assets change hands within seconds using R3’s distributed ledger technology, without any active intervention from the banks.

The R3 consortium now represents over 200 partners of financial service providers. These include technology companies, central banks and regulators. They work together on DLT solutions for the financial industry and meanwhile also for further industries. R3 has also been cooperating with Microsoft and Amazon for several months now.

Jasper III: Third phase of the news spy

The Jasper project started in March 2016 and is now in the third and final phase of proof of concept on: The aim is to initially make the transactions on the Canadian market more efficient and cheaper. Of course, international transactions are also intended in the news spy, but in the short term the hurdles are very high. Payments Canada’s CEO explained that „it will be possible to transfer payments in an unprecedented way – transferring money directly from the buyer to the seller in real time“.

While the Jasper III consortium has been successful in implementing the project and has seen an extreme increase in efficiency for the participating companies, there are no financial benefits in the meantime. Bank of Canada Senior Special Director Scott Hendry recently stated at a payments conference in Toronto that despite distributed ledger technology, the savings potential is very limited. „After all this work, we’re still unsure whether there will be a greater reduction in costs,“ he says. The cause is to be found in the design of the technology. The consortium relies on a closely monitored and non-transparent „blockchain“. Only the parties directly involved have access to the transactions. Meanwhile, no other model is conceivable for the banks: otherwise they are no longer needed in this process. It still seems to be a few years before DL technology in the financial sector gets by without intermediaries. Until then, the efficiency of these processes will increase, but the costs will not decrease.

Jasper: Canada’s financial industry relies on Blockchain