Značka: Samsung

Samsung uses blockchain-based security for devices in its network

Tech giant Samsung announced it will utilize blockchain technology to upgrade security protocols for all of its smart devices.Knox Matrix is its new blockchain-based security solution for “cross-device experiences.” This means the security layer covers all Samsung devices, from smartphones to home appliances, within the network.Samsung says Knox Matrix will work as an individual’s “own private blockchain system,” with all of one’s interconnected devices equipped with the blockchain multi-layered monitoring. This includes electronics such as smartphones but also smart TVs and air conditioners.The new security upgrade is intended to protect users from exploits of their credentials, while simultaneously making logins more simple.According to the announcement, all Samsung devices will utilize Knox Matrix and receive a unified SDK, whether they are based on Android, Tizen or another OS.This comes alongside the company’s announcement of its new collaboration with Google to improve multi-smart device experiences in the home.Samsung Electronics Announces Expanded Partnership With Google To Elevate Smart Home Experienceshttps://t.co/D50NmDtp0v— Samsung Electronics (@Samsung) October 12, 2022Samsung has been active in expanding its footprint in the Web3 space. A blog post from Blockdata on Aug. 16 revealed the company has  the most active investor in blockchain-related ventures since September 2021. According to the post, Samsung participated in 13 funding rounds within the industry after a nine-month period. Related: Security and interoperability, the challenges ahead of Web3 mass adoptionIt has recently backed an upcoming Web3 gaming studio, along with Samsung’s Asset Management division launching a blockchain exchange-traded fund in Hong Kong. The managing director of Samsung Next also spoke out on the importance of building and investing in the Web3 space at this time. 

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Google invested a whopping $1.5B into blockchain companies since September

Google parent company Alphabet poured the most amount of capital into the blockchain industry compared to any other public company, investing $1.5 billion between Sep. 2021 and Jun. 2022, a new report shows. In an updated blog published by Blockdata on Aug. 17, Alphabet (Google) was revealed as the investor with the deepest pockets compared to the top 40 public corporations investing in blockchain and crypto companies during the period. The company invested $1.5 billion into the space, concentrating on four blockchain companies including digital asset custody platform Fireblocks, Web3 gaming company Dapper Labs, Bitcoin infrastructure tool Voltage, and venture capital company Digital Currency Group.This is in stark contrast to last year, where Google diversified its much smaller $601.4 million funding effort across 17 blockchain-based companies, which again included Dapper Labs, along with Alchemy, Blockchain.com, Celo, Helium and Ripple. Google’s increased investment into the blockchain industry is consistent with the other top 40 publicly traded companies, with $6 billion in total being invested during this time, compared to $1.9 billion between Jan. 2021 to Sep. 2021 and $506 million in all of 2020.Source: BlockdataThe other big corporate investors include asset management company BlackRock, which invested $1.17 billion, investment banking corporation Morgan Stanley, investing $1.11 billion, and electronics company Samsung, with investments totaling $979.2 million. Like Google, Morgan Stanley and BlackRock adopted a more concentrated approach investing in only two to three companies during the period. However, Samsung was by far the most active investor having invested in 13 different companies.The data also found that companies offering some form of non-fungible token (NFT) solutions have been the most popular investment. “Many of these belong to industries such as gaming, arts & entertainment, and distributed ledger technology (DLT).”The remaining investments have been split between companies that provide Blockchain-as-a-Service (BaaS), infrastructure, smart contract platforms, scaling solutions and digital asset custody platforms. Related: Beyond the hype: NFTs can lead the way in transforming business experiencesThe data also found that banks have started to increase their exposure to crypto and blockchain companies, driven by an increase in client demand for crypto services. Among the banks finding themselves on the top list of crypto investors are United Overseas Bank, Commonwealth Bank of Australia and BNY Mellon.

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White hat hacker attempts to recover 'millions' in lost Bitcoin, finds only $105

Joe Grand, a computer engineer and hardware hacker known by many for recovering crypto from hard-to-reach places, spent hours breaking into a phone only to find a fraction of a Bitcoin.In a YouTube video released on Thursday, Grand traveled from Portland to Seattle in an effort to potentially recover “millions of dollars” in Bitcoin (BTC) from a Samsung Galaxy SIII phone owned by Lavar Sanders, a local bus operator. Sanders originally purchased the BTC in July 2016 in a “super sketchy” way, paying a person at a cafe and storing the crypto in a wallet on the phone before putting it in storage and losing track of the device.After finding the phone in 2021, Sanders couldn’t recall the swipe password, but remembered setting up the option of erasing the data if too many incorrect attempts were made. He and a friend connected with Grand after discovering his YouTube videos, allowing the white hat hacker to make several attempts to get into the phone’s memory and recover the crypto.[embedded content]Following some micro soldering, downloading the memory and discovering the Samsung’s swipe pattern for access — which turned out to be the letter “L” — Sanders opened his MyCelium Bitcoin wallet and discovered only 0.00300861 BTC — worth $105 USD at the time, down to roughly $63 USD at the time of publication. Grand was later able to determine the bus operator purchased $400 worth of BTC in 2016, most of which went to a crypto mixing service called BitBlender, which was shut down in 2019.“I’m a little devastated,” said Sanders. “We didn’t make money, but we definitely made new friends.”Related: Engineer hacks Trezor wallet, recovers $2M in ‘lost’ cryptoMany crypto users have been locked out of their wallets or otherwise lost access to physical devices holding BTC over the years — one of the most famous examples being a Welsh man who in 2013 threw out a hard drive containing 7,500 Bitcoins, now worth more than $150 million. However, many hackers and engineers specializing in crypto recovery services have appeared in response.

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Samsung Asset Management to launch blockchain ETF in Hong Kong

Hong Kong-based Samsung Asset Management (SAMHK), a local subsidiary of Samsung’s investment arm, is moving forward with a blockchain-themed exchange-traded fund (ETF).The firm expects to launch its Samsung Blockchain Technologies ETF on the Hong Kong Stock Exchange on June 23, SAMHK announced on Thursday.The ETF seeks to achieve long-term capital growth by investing in stocks of companies actively involved in the development and adoption of blockchain technologies, the fund prospectus reads. The fund will invest in blockchain-related research and development firms, data providers, industry investment firms and others.The ETF’s composition will be managed by SAMHK’s portfolio management team, responsible for filtering out firms with “small market capitalization or low trading volume.” The Samsung Blockchain Technologies ETF is a sub-fund of Samsung ETFs Trust, an umbrella unit trust established under Hong Kong law, the firm said.According to the announcement, SAMHK positions the new investment product as the “first ever global blockchain-related ETF in Hong Kong” as well as Asia.Carmen Cheung, head of ETF and passive investment at SAMHK, notd the increasing demand for blockchain technology-based applications, forecasting the industry’s growth in the future, stating:“The demand of data processing and storage will expedite with the evolution of our digital world. Blockchain technologies will further be widely used for different businesses to improve data efficiency, security and shorten the accessibility time. We see this as one of the future trends on digital transformation.”SAMHK is one of several global subsidiaries of Samsung Asset Management, a wholly-owned subsidiary under the umbrella of the Samsung Group. According to official company data, Samsung Asset Management was one of the first companies in South Korea to surpass a milestone of 100 trillion Korean won ($79 billion) in assets under management in 2011.The ETF launch comes soon after Samsung Asset Management acquired a 20% equity stake in the United States’ ETF sponsor Amplify Holding Company in March 2022, reportedly becoming the second-largest shareholder.Related: ‘Bitcoin-thematic’ ETF lists on Italian stock exchange Borsa ItalianaThe Samsung Group has been actively exploring the blockchain and cryptocurrency industry in recent years, supporting crypto transactions on its flagman Samsung smartphones and investing in major crypto wallets. The South Korean tech giant has also been experimenting with nonfungible tokens, launching a smart TV lineup with an integrated NFT platform in January 2022.

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Warning: Smartphone text prediction guesses crypto hodler’s seed phrase

Seed phrases, a random combination of words from the Bitcoin Improvement Protocol (BIP) 39 list of 2048 words, act as one of the primary layers of security against unauthorized access to a user’s crypto holdings. But, what happens when your “smart” phone’s predictive typing remembers and suggests the words next time you try to access your digital wallet?Andre, a 33-year-old IT professional from Germany, recently posted on the r/CryptoCurrency subreddit after discovering his mobile phone’s ability to predict the entire recovery seed phrase as soon as he typed down the first word. As a fair warning to fellow Redditors and crypto enthusiasts, Andre’s post highlighted the ease with which hackers can use the feature to drain a user’s funds just by being able to type the first word out of the BIP 39 list:“This makes it easy to attack, get your hands on a phone, start any chat app, and start typing any words off the BIP39 list, and see what the phone suggests.”Speaking to Cointelegraph, Andre, otherwise known as u/Divinux on Reddit, shared his shock when he first experienced his phone literally guessing the 12-24 word seed phrase. “First, I was stunned. The first couple words could be a coincidence, right?”As a tech-savvy individual, the German crypto investor was able to reproduce the scenario wherein his mobile phone could accurately predict the seed phrases. After realizing the possible impact of this information if it went out to the wrong hands, “I thought I should tell people about it. I’m sure there are others who also have typed seeds into their phone.”Andre’s experiments confirmed that Google’s GBoard was the least vulnerable as the software did not predict every word in the correct order. However, Microsoft’s Swiftkey keyboard was able to predict the seed phrase right out of the box. The Samsung keyboard, too, can predict the words if “Auto replace” and “Suggest text corrections” have been manually turned on. Andre’s initial stint with crypto dates back to 2015 when he momentarily lost interest until he realized he could buy goods and services using Bitcoin (BTC) and other cryptocurrencies. His investment strategy involves purchasing and staking BTC and altcoins such as Terra (LUNA), Algorand (ALGO) and Tezos (XTZ) and “then dollar-cost averaging out into BTC when/if they moon.” The IT professional also develops his own coins and tokens as a hobby.A safety measure against possible hacks, according to Andre, is to store significant and long-term holdings in a hardware wallet. To Redditors across the world, OP’s advises “not your keys not your coins, do your own research, don’t FOMO, never invest more than you are willing to lose, always double-check the address you are sending to, always send a small amount beforehand and disable your PMs in settings,” concluding:“Do yourself a solid and prevent that from happening by clearing your predictive type cache.”Related: STEPN impersonators stealing users’ seed phrases, warn security expertsBlockchain security firm PeckShield warned the crypto community about a large number of phishing websites targeting users of the Web3 lifestyle app STEPN.#PeckShieldAlert #phishing PeckShield has detected a bath of @Stepnofficial phishing sites. They insert a false Metamask browser extension leading to stealing your seed phrase or prompt you to connect your wallets or “Claim” giveaway. @Metamask @Coinbase @WalletConnect @phantom pic.twitter.com/cmWUcprMAN— PeckShieldAlert (@PeckShieldAlert) April 25, 2022As Cointelegraph recently reported, based on PechShield’s findings, hackers insert a forged MetaMask browser plugin through which they can steal seed phrases from unsuspecting STEPN users.Access to seed phrase guarantees complete control over the user’s crypto funds via the STEPN dashboard.

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Why NFT adoption is so high in South Korea

South Korea’s reputation as a trend-setter and leader in technological research is quickly spilling into the blockchain realm as nonfungible token (NFT) adoption has skyrocketed in the small East Asian country.As of 2020, South Korea has been among the top-10 countries in the world in the Global Innovation Index by the World Intellectual Property Organization. That level of innovation is made apparent to global retail consumers by tech giants such as Samsung and LG and to gamers through game maker Krafton. Those companies, and many like them, are now also delving into the NFT space by dropping new collections to customers and launching divisions of their company dedicated to developing NFTs.There may be several reasons for the eagerness to expose retail consumers and the general public at large to NFTs that goes beyond just being a thank-you prize for a purchase. This is the idea presented by Strategy Lead at the Korea-based KlayChicken NFT project, Alex Lim. He told Cointelegraph today “NFTs are all the rage but a lot of people don’t even know why.””The NFT hype in South Korea stems from a mixture of sentiments… I believe that in the second half of the year, the time will come when the whole South Korean NFT industry takes a quantum leap.”One reason that may contribute to this quantum leap is the lack of a tax on digital assets in South Korea. The crypto tax has been delayed until 2023, but president-elect Yoon Seok-yeol may push to delay that tax for yet another year to 2024. Additionally, NFTs are not regulated as stringently as cryptocurrency is now. Although local financial regulators at the Financial Services Commission (FSC) are working to introduce new NFT rules, none yet exist. This has kept the market open to be filled by a litany of new marketplaces at exchanges such as Upbit and Bithumb and from other corporations such as gaming giant Krafton to profit from NFTs.Co-founder and CEO at Korea-based blockchain ecosystem accelerator DeSpread GM Chung believes practical use-cases for NFTs will become more common in his country. He told Cointelegraph today that “I expect NFTs to expand into a social on-chain profile layer along with transaction history in the future.” “Previously, the phenomenon of purchasing NFTs for community participation was done, but recently, the expansion of NFT utilities is considered to be a major reason (for its rise in utilization).”While campaigning, president-elect Yoon issued an NFT collection which followers could mint in order to feel a sense of belonging to his cause.Yoon Seok-yeol’s NFT collection on the Aergo blockchain. Source: CCCVGoing beyond participation is South Korea’s Hoseo University which issued diplomas in NFT form to its 2,830 graduating students on March 18. Local news outlet Money Today reported in February that the university decided to issue NFTs in order to improve accessibility and convenience for students and to prevent the forgery of diplomas. Chung may even be understating the utility market participants see in NFTs. Last month, the Ministry of ICT, Science and Future Planning pledged to support the growth of a national Metaverse with a $187.7 million dollar grant. Content creators are expected to benefit the most from the new grant.Content creators appear to be reaping the rewards of increased demand for their services in developing NFT designs for a wide array of companies. A simple search for NFT on the leading job search website JobKorea produces 753 unique positions for content creators and business professionals.The digital assets those creators make have most commonly been in the form of in-game items or characters, and emojis for text messaging apps. This familiarity with digital assets is why the co-founder of crypto investment firm Stablenode Doo Wan Nam believes Koreans have adopted NFTs so readily. He told Cointelegraph today that “Koreans are more open and understanding when it comes to NFT which is another form of digital asset.”Lim said content creators and businesses are now including NFTs in their business plans because they now see the “potential and utility” of NFTs. He added that building a supportive community to enhance brand power “has always been the inevitable, yet difficult task for any content creator.””NFTs have opened a new horizon for those who seek to materialize an ideal community where there is commitment, passion, and autonomy.”

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