FastCoin Crypto News
Shanghai, China -- (SBWIRE) -- 08/20/2013 -- In early 2013 Massive Luck Investments Limited, a Hong Kong based New Technology Investment Holding Group with offices in Manila, Philippines, Shanghai, China, and Dublin, Ireland, moved aggressively into the Bitcoin space by actively funding the development of next generation Bitcoin mining ASIC technology and establishing the first Global Digital Currency Supercomputer Center http://bitmine.ch http://betcoin.tm . The firm has a history of successfully investing in emerging disruptive technologies. The principals and their families were the first investors in Skype, before the ubiquitous VOIP software became a household name and was subsequently bought by Microsoft Corporation for $8.5 billion. Peter Nolan, head of PR for the Hong Kong based Investment Holding Group, explained how:
We began researching investment opportunities related to digital currencies in early 2012, and by the beginning of 2013 we made a strategic decision to aggressively move into the digital currency “Wild West”. Massive Luck Investments has identified digital currencies as a future growth area for the globally regulated traditional banking sector. Digital currencies provide traceable and expedient transfer protocols for consumers, governments, and banks, with the advantage of enabling users to conduct highly secure, low cost, instant transactions. As the world’s economies increasingly turn to e-commerce and non-physical cash transactions, the global marketplace will demand further integration of digital currencies with regulated infrastructure.
We began researching investment opportunities related to digital currencies in early 2012, and by the beginning of 2013 we made a strategic decision to aggressively move into the digital currency “Wild West”. Massive Luck Investments has identified digital currencies as a future growth area for the globally regulated traditional banking sector. Digital currencies provide traceable and expedient transfer protocols for consumers, governments, and banks, with the advantage of enabling users to conduct highly secure, low cost, instant transactions. As the world’s economies increasingly turn to e-commerce and non-physical cash transactions, the global marketplace will demand further integration of digital currencies with regulated infrastructure.
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When I was very small, I used to make mud pies and sell them. The process of making a mud pie is, if you’re five, labor-intensive and I wanted compensation for my hard work. I accepted it in the form of rocks. My friends would present me with stones big and small. In my rock-economy, a pocket full of pebbles meant I was flush. This was my currency. It was as real for me, just as Bitcoins are for the millions who invest in and use them today. I had been struggling with the concept of Bitcoins. If you’ve never heard of them, the idea is, for the most part, pretty simple. It’s decentralized, online money that springs out of virtual mines. There are a few ways to get currency: One is to have people give Bitcoins (as payment or a gift). Another is to offer up the computational power of your own computer to help mine new Bitcoins.
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IDG News Service - Google is distributing patches for a cryptography flaw in Android that may affect hundreds of thousands of applications.
The patches have been passed to partners belonging to the Open Handset Alliance, a trade group dedicated to development of Android, wrote Alex Klyubin, an Android security engineer. Affected applications are those that rely on the pseudo random number generator (PRNG) within the Java Cryptography Architecture or "directly invoke the system-provided OpenSSL PRNG without explicit initialization on Android," Klyubin wrote. Random numbers are used in part to generate secure encryption keys and for other cryptography processes. In some cases, the numbers were not "cryptographically strong values," Klyubin wrote.
The patches have been passed to partners belonging to the Open Handset Alliance, a trade group dedicated to development of Android, wrote Alex Klyubin, an Android security engineer. Affected applications are those that rely on the pseudo random number generator (PRNG) within the Java Cryptography Architecture or "directly invoke the system-provided OpenSSL PRNG without explicit initialization on Android," Klyubin wrote. Random numbers are used in part to generate secure encryption keys and for other cryptography processes. In some cases, the numbers were not "cryptographically strong values," Klyubin wrote.
