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EOS – How might blockchain technology be used in five years?

Ranjitha Shastry

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EOS- How might blockchain technology be used in five years?
Source: Pixabay

Yesterday, EOS posted a video on Twitter where the EOS core members narrated their ideas on how they view blockchain being utilized in the next five years. The video features Serg Metelin from Developer Relations, Bart Wyatt from Engineering, Daniel Larimer the CTO of Block.one, and Brendan Blumer the CEO of Block.one.

Serg Metelin expressed that it is rather difficult to predict what is going to happen in the five years. However, he is optimistic about blockchains being integrated into different industries. He said:

“Within the course of the next five years, I believe they [blockchain] will be integrated into our insurance, our medical services, in banking and many many different areas in our day to day life.”

Bart Wyatt emphasizes how people will start looking at blockchain in the future. People will have to start using this technology with or without their knowledge. He said:

” it is going to be there and people are going to feel it because what used to be a necessity for a trust and an institution like a governmental agency or even something like a church might be less of a requirement in order to get trust. You will be able to garner trust from these systems, the consensus, and a community. That would be the thing an average person feels that they no longer have to blindly trust these monolithic institutions. I am not sure if they can give blockchain the credit for it, but they really should.”

Daniel Larimer envisions blockchain being used by banks, governments, and businesses. Institutions should be placing their infrastructure with blockchain based infrastructure.

Brendan Blumer, Chief Executive Officer of Block.one said:

“Most people will start to use products and services that will become more competitive and aligned and they may not even know that they are using the blockchain itself. It’s really a resource for developers to build the next generation of products and services”

GrooveTuneZ, a Twitter user commented:

“I suggest all the replyers mark this tweet for two years. I’m not try to prove you’re right or wrong, but you’ll find that you used to be a closed mind.”





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Ranjitha Shastry is a part of AMBCrypto's News Reporting Team. Having done her major in Journalism and mass communication, she is passionate about business and economic journalism.

News

GateHub: Stolen XRP funds transferred to prominent exchanges

Namrata Shukla

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GateHub stolen XRP funds moved to Bitfinex and OKEx
Source: Pixabay

The GateHub hack that took place earlier this month resulted in the exchange losing nearly 23 million XRP worth approximately $9 million. However, Whale Alert, a tracker of large crypto transactions, alerted the community of these stolen funds being moved to various different exchanges.

One of these exchanges was identified to be Bitfinex, which received 400,025 XRP on June 16 at 10:57:22 UTC. The sender’s address was r4hyDYXv7iV3oCahxQzqYYfgxwyBx3AyMN and was identified to be from the GateHub hack 2019. The receiver’s address was identified to be Bitfinex’s- r9o9MerrS7d2GAEs6JPj4v4JcvZAJNtLUY. The hash rate of the transaction was 21124F7818A2903E9750456D603CC9AACC9DBE6CE2EF0AA191C734339B4CA682 and the transaction details were as follows:

Source: Whale Alert

Source: Whale Alert

Another transaction was noted to take place to the Bitfinex wallet address where 100,000 XRP was transferred from another identified GateHub hack address. The identified Bitfinex’s wallet address was rDcz7P9YMpffLKhRBovTzhUr3wKtk3y9q7. This wallet address was quick to transfer the funds immediately to another exchange, OKEx. OKEx previously received 3,000 XRP from the stolen funds to an identified OKEx address- rUzWJkXyEtT8ekSSxkBYPqCvHpngcy6Fks. The hash rate of the transaction was noted to be BE97F68A20E996A2E1A37228DCBD45A1F26E8E2B3A842E9FCFFF7721157C1C37 and following were the transaction details:

Source: Whale Alert

Source: Whale Alert

The stolen funds were moved to another prominent exchange, Binance, and CZ was swift to inform Whale Alert that he would look into it. However, the crypto users did not find any relief about these funds going to other exchanges as the exchanges did not respond to the large transactions.





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