Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Facebook is working with HackerOne on a bug bounty program for its Libra cryptocurrency

Facebook and its partners are moving ahead with its Libra cryptocurrency project and announced that it is working with HackerOne on a bug bounty program for applications built on its blockchain.

The move comes even as government regulators have called for the company to suspend the project, while they assess its legality and the potential threat it could pose to the global financial system.

Congressional testimony reveals some faults in Facebook’s digital currency plans

Undeterred, Facebook and its partners in the Libra project are moving ahead, and offering up the bug bounty program as proof of how seriously the company is taking its responsibilities as it looks to entirely refashion the global financial system in its image.

They’re offering up to $10,000 for security experts who find flaws in code in projects developed on the foundation’s testnet.

“We are launching this bug bounty now, well before the Libra Blockchain is live. Our hope is that people around the world can turn to Libra for their everyday financial needs, so the infrastructure must be dependable and safe,” said Dante Disparte, Head of Policy and Communications, Libra Association, in a statement. “It’s important to note that the Libra Blockchain remains in testnet, which is an early-stage version of the code that is far from final. We remain committed to taking the time to get this right and we will not launch the Libra Blockchain until regulatory concerns have been taken into account and required regulatory approvals have been received.”

However, the launch of a bug bounty program for a testnet that’s not yet commercially viable, let alone approved seems potentially premature. Various spokespeople for the foundation noted that Libra is not yet launched.

“As Libra moves towards mainnet launch, this is an important step that shows the association is thinking about security actively and in a progressive way,” said Aaron Henshaw, chief technology officer of Bison Trails, a blockchain infrastructure service provider and partner in the Libra Foundation.

Some could view the launch as an overabundance of caution, others could call it a public relations stunt meant to assuage the public and lawmakers about the security of a system that has no guarantee of even launching.

The Libra Association, through a spokesperson, wouldn’t even comment on how many projects are currently operating on the Libra testnet.

Instead of a bug bounty, Facebook and its partners in the Libra Association may be better off dealing with the potential bugs their planned payments system could create for governments and the global financial system.

Facebook’s testimony to Congress: Libra will be regulated by Swiss

 

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line
Post a Comment
Read more

How the world’s largest cannabis dispensary avoids social media restrictions

Planet 13 is the world’s largest cannabis dispensary. Located in Las Vegas, blocks off the Strip, the facility is the size of a small Walmart. By design, it’s hard to miss. Planet 13 is upending the dispensary model. It’s big, loud and visitors are encouraged to photograph everything. As part of the cannabis industry, Planet 13 is heavily restricted on the type of content it can publish on Instagram, Facebook and other social media platforms. It’s not allowed to post pictures of buds or vapes on some sites. It can’t talk about pricing or product selection on others.   View this post on Instagram   A post shared by Morgan Celeste SF Blogger (@bayareabeautyblogger) on Jan 25, 2020 at 7:54pm PST Instead, Planet 13 encourages its thousands of visitors to take photos and videos. Starting with the entrance, the facility is full of surprises tailored for the ‘gram. As a business, Planet 13’s social media content is heavily restricted and monito
3 comments
Read more