Daily Archives: August 13, 2015

Ripple, a Cryptocurrency Company, Wants to Rewire Bank …

Posted: August 13, 2015 at 3:56 am

A digital-currency company thinks it can protect the personal information used to perform identity checks in the financial industry.

Companies built around Bitcoin and other digital currencies mostly focus on storing and transferring money. But at least one company is trying to prove that some of the underlying technology can have a much wider impact on the financial industry.

That startup, Ripple Labs, has already had some success persuading banks to use its Bitcoin-inspired protocol to speed up money transfers made in any currency, especially across borders (see 50 Smartest Companies 2014: Ripple Labs). Now it is building a system that uses some similar cryptographic tricks to improve the way financial companies check the identity of their customers. The system could also provide a more secure way to log in to other online services.

Verifying identity is a constant, expensive headache for financial institutions, which are bound by strict regulations designed to curtail money laundering and support for blacklisted organizations such as terrorist groups. Most banks turn to one of a handful of large data brokers, such as Experian or Acxiom, to power their ID checks. When you open a new account, a bank gathers key personal information and sends it to its broker to verify your identity, and to confirm that you arent on any block list.

Under Ripples system, the same basic process would take place. However, your personal information would be used to generate a unique cryptographic token. A bank could send the token to a data broker that has its own token, made using your personal information at an earlier time. The math underpinning Ripples system would allow the broker to confirm that the data you had given the bank was correct, without either the bank or the broker ever revealing the data itself.

Apples mobile payment technology uses similar technology to protect credit card numbers (see 10 Breakthrough Technologies 2015: Apple Pay). When you use Apple Pay, only a cryptographic token representing your credit card number is transferred to the merchant. That token can be used to charge your card, but it wont reveal anything to anyone who manages to steal it, and it cannot be reused.

Stefan Thomas, chief technology officer of Ripple, says its ID verification system should reduce the risk that personal data will be stolen or accidentally leaked and should also be faster than the systems used today, which have developed gradually over decades and still use outdated technology. He says Ripple decided to develop the technology after it became clear that the financial system needed more than just new ways to transfer money.

Thomas adds that by cutting costs and security risks, Ripples system might allow cheaper data brokers to emerge. It could also make it easier for banks to operate in poorer parts of the world, where verification systems can be particularly expensive to operate, even for U.S. banks, he says. And Ripples engineers are also working on ways their protocol can be used to log in to online services.

Sarah Jane Hughes, a law professor at Indiana University who specializes in payment systems, says Ripple has identified a legitimate opportunity. Companies spend a lot on complying with identity verification rules, and mistakes are expensive, she says. For example, PayPal agreed to pay $7.7 million to the U.S. Treasury last week for failing to block just under 500 transactions involving people subject to U.S. sanctions. If you could do verification more rapidly and with a greater degree of certainty, it would be hugely valuable, says Hughes.

However, Hughes says, switching to a new system would not be easy for most financial institutions. They would probably have to retain the old system for some time for compatibility reasons. That means Ripples idea would have to deliver significant benefits to gain traction.

Read the original here:
Ripple, a Cryptocurrency Company, Wants to Rewire Bank ...

Posted in Cryptocurrency | Comments Off on Ripple, a Cryptocurrency Company, Wants to Rewire Bank …

Town of Liberty, NC

Posted: at 3:55 am

Welcome tothe official Townof Liberty NCwebsite.

We believe you will find it informative and we encourage any and all suggestions to make it even better. Liberty is a charming, inviting, friendly rural Town in the Piedmont region that is convenient to larger cities.Liberty is hometo The Liberty Antiques Festival held twice a year, located20 miles northeastfrom Asheboro and the North Carolina Zoo; 20 miles southwestfrom Burlington and excellent shopping; 20 miles southfrom Greensborowith major transportation hubs; 30 miles from High Point and the semi-annual Furniture Market; and regionally accessible to the State Capital of Raleigh and surrounding areas.

Our Mayor, Town Council, and Administrative Staff along with the invaluable assistance of the many great citizens who sit on our advisory boards and others who volunteer their time and services, all work diligently to make our community a great place to be in North Carolina. Please enjoy our web site and our town, and feel free to contact town hall at any time. The Liberty Team looks forward to serving you and making Liberty an even better place to live, work, visit and play.

Liberty Mission Statement

Liberty is an All American town in the Heart of N.C. We are rooted in our heritage, embracing the present while moving towards the future. We are a diverse community united in our efforts to promote growth, leadership, economic development and family values.

Go here to see the original:
Town of Liberty, NC

Posted in Liberty | Comments Off on Town of Liberty, NC

Liberty Safes, Liberty Gun Safes

Posted: at 3:55 am

For items weighing over 150 lbs we include a free curbside delivery, this will get the truck to your home or business, they will unload the safe with a lift gate to the ground level. The carrier will call in advance to schedule delivery. Depending on the weight of the safe you may want to arrange for additional help to bring the safe inside. Please contact us before the item ships if you live on a rural route, area not serviced by freight carriers, or on an Island. If you have a narrow, steep, or inaccessible driveway for an 18 wheel truck and trailer, you will need to upgrade to our Bronze, Gold or Platinum level service (generally delivered on a 26' truck). If inaccessible by a 26' truck or larger, please call us for further options.

For items under 150 lbs the order will be shipped with FedEx or UPS and occasionally USPS.

Shipping Options

FREE Shipping (Standard): Free curbside delivery with liftgate to the ground level.

Bronze: 1-2 person delivery to garage or first dry area. No weight limitation, stairs or pallet removal.

Gold: Inside placement (ground level delivery only) pallet and debris removal.

Platinum: Inside placement, up to 2 flights of stairs, pallet and debris removal. 900lb weight limitation for this service.

Questions? Feel free to give us a call! 855-248-6723

Go here to see the original:
Liberty Safes, Liberty Gun Safes

Posted in Liberty | Comments Off on Liberty Safes, Liberty Gun Safes

The five extra words that can fix the Second Amendment …

Posted: at 3:53 am

By John Paul Stevens April 11, 2014

Following the massacre of grammar-school children in Newtown, Conn., in December 2012, high-powered weapons have been used to kill innocent victims in more senseless public incidents. Those killings, however, are only a fragment of the total harm caused by the misuse of firearms. Each year, more than 30,000 people die in the United States in firearm-related incidents. Many of those deaths involve handguns.

The adoption of rules that will lessen the number of those incidents should be a matter of primary concern to both federal and state legislators. Legislatures are in a far better position than judges to assess the wisdom of such rules and to evaluate the costs and benefits that rule changes can be expected to produce. It is those legislators, rather than federal judges, who should make the decisions that will determine what kinds of firearms should be available to private citizens, and when and how they may be used. Constitutional provisions that curtail the legislative power to govern in this area unquestionably do more harm than good.

The first 10 amendments to the Constitution placed limits on the powers of the new federal government. Concern that a national standing army might pose a threat to the security of the separate states led to the adoption of the Second Amendment, which provides that a well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.

For more than 200 years following the adoption of that amendment, federal judges uniformly understood that the right protected by that text was limited in two ways: First, it applied only to keeping and bearing arms for military purposes, and second, while it limited the power of the federal government, it did not impose any limit whatsoever on the power of states or local governments to regulate the ownership or use of firearms. Thus, in United States v. Miller, decided in 1939, the court unanimously held that Congress could prohibit the possession of a sawed-off shotgun because that sort of weapon had no reasonable relation to the preservation or efficiency of a well regulated Militia.

When I joined the court in 1975, that holding was generally understood as limiting the scope of the Second Amendment to uses of arms that were related to military activities. During the years when Warren Burger was chief justice, from 1969 to 1986, no judge or justice expressed any doubt about the limited coverage of the amendment, and I cannot recall any judge suggesting that the amendment might place any limit on state authority to do anything.

Organizations such as the National Rifle Association disagreed with that position and mounted a vigorous campaign claiming that federal regulation of the use of firearms severely curtailed Americans Second Amendment rights. Five years after his retirement, during a 1991 appearance on The MacNeil/Lehrer NewsHour, Burger himself remarked that the Second Amendment has been the subject of one of the greatest pieces of fraud, I repeat the word fraud, on the American public by special interest groups that I have ever seen in my lifetime.

In recent years two profoundly important changes in the law have occurred. In 2008, by a vote of 5 to 4, the Supreme Court decided in District of Columbia v. Heller that the Second Amendment protects a civilians right to keep a handgun in his home for purposes of self-defense. And in 2010, by another vote of 5 to 4, the court decided in McDonald v. Chicago that the due process clause of the 14th Amendment limits the power of the city of Chicago to outlaw the possession of handguns by private citizens. I dissented in both of those cases and remain convinced that both decisions misinterpreted the law and were profoundly unwise. Public policies concerning gun control should be decided by the voters elected representatives, not by federal judges.

In my dissent in the McDonald case, I pointed out that the courts decision was unique in the extent to which the court had exacted a heavy toll in terms of state sovereignty. . . . Even apart from the States long history of firearms regulation and its location at the core of their police powers, this is a quintessential area in which federalism ought to be allowed to flourish without this Courts meddling. Whether or not we can assert a plausible constitutional basis for intervening, there are powerful reasons why we should not do so.

Across the Nation, States and localities vary significantly in the patterns and problems of gun violence they face, as well as in the traditions and cultures of lawful gun use. . . . The city of Chicago, for example, faces a pressing challenge in combating criminal street gangs. Most rural areas do not.

Read more:
The five extra words that can fix the Second Amendment ...

Posted in Second Amendment | Comments Off on The five extra words that can fix the Second Amendment …