Monthly Archives: June 2017

What is the future of privacy, surveillance and policing technologies … – CBS News

Posted: June 23, 2017 at 5:55 am

For weeks, President Trump cried foul, repeating unverified claims that the Obama administration wiretapped Trump Tower to spy on him, accusations that remain unsubstantiated.

But Mr. Trump, with the power of the presidency and executive branch as a whole at his fingertips, has said little of how he intends to approach the authority he now wields over the country's surveillance policies. As developing policing technologies continue to outpace laws restricting their use, and as Mr. Trump and top members of his administration like Attorney General Jeff Sessions take a hard line against illegal immigration, terrorism and crime, experts in constitutional law and civil liberties fear the lack of an accompanying conversation on privacy protections could contribute to the erosion of Fourth Amendment rights.

The Fourth Amendment guarantees the "right of the people to be secure in their persons, houses, papers and effects, against unreasonable searches and seizures."

"I think we will see a push from the Trump administration to expand surveillance powers, and that of course could directly implicate Fourth Amendment protections," said Christopher Slobogin, a professor at Vanderbilt University Law School who has studied and written on Fourth Amendment, privacy and surveillance issues for years.

"And they're going to push I think also for greater militarization of the police, which could affect Fourth Amendment issues," Slobogin added.

The American Civil Liberties Union is currently taking the Department of Justice to court to determine when the government notifies people they are under surveillance.

In May 2015, before announcing his bid for the presidency, Mr. Trump said he supported legislation allowing the National Security Agency (NSA) to hold bulk metadata, and later in the year reiterated he would tend to "err on the side of security." On the campaign trail, and after taking office, Mr. Trump has emphasized the importance of bulking up police forces and eradicating terrorism. Sessions fought against reforms of the Foreign Intelligence Surveillance Act (FISA) in 2012, and against limits on the NSA's spying powers.

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FBI Director James Comey says there is no evidence to support President Donald Trump's tweet about a "wiretap" of Trump Tower during the 2016 ele...

"It's not as though this didn't exist before Trump, because it's all in this terrorism -- war on terrorism stuff," said Robert Bloom, a professor at Boston College Law School who focuses on criminal procedure and civil rights law. "We've loosened up on protections of individuals. But now you've really got an abusive executive. A president and attorney general who don't really give two whits about individual protection and about the Fourth Amendment."

The White House and Department of Justice did not respond to requests for comment for this story.

Guaranteeing Fourth Amendment rights has become increasingly complicated in the digital age. One longstanding legal theory dating to the 1970s, known as the Third Party Doctrine, asserts that once a person gives personal information to a third party, for instance, to a cell service provider, he or she loses the expectation of privacy, and the information can be given to other entities without the person's explicit permission -- without violating the Fourth Amendment.

The Obama administration placed some limitations on surveillance technology, but mostly through policy. The Obama administration required the Department of Justice and Department of Homeland Security to obtain warrants for the use of their 400 Stingrays or cell site simulators, devices that mimic cellphone towers, so all phones within a range connect to it instead of their cellphone provider's nearest tower, and the devices collect cellphone data. The IRS also acquired the technology in recent years.

"But that's the kind of thing that Jeff Sessions could do away with with the stroke of a pen," said Alvaro Bedoya, founding executive director for the Center on Privacy and Technology at Georgetown University Law Center.

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Law enforcement uses tracking devices called "stingrays" to locate cellphones. But the technology also picks up personal information from other c...

Law enforcement agencies say Stingray technology helps them catch suspected criminals -- and it does. But privacy advocates fear the technology's ability to collect nearby cellphone owners' data without their permission or knowledge -- and often, without a warrant -- compromises Fourth Amendment rights.

Federal authorities have said the devices they use are not configured to collect the content of communications, but the capabilities of the technology aren't clear. That's partly because federal authorities have shrouded cell site simulators in mystery, sometimes dropping cases against criminal suspects rather than reveal their policing methods and agreements with private cell site simulator companies that swear the government to product secrecy in contracts.

The ability to put the warrant requirement "through the shredder" at any moment is why policy is an insufficient safeguard, said Matthew Feeney, policy analyst at the Cato Institute, a libertarian think tank.

"We're relying heavily on government policy rather than law, and that I think is a problem," Feeney said.

Many states also use automatic license plate readers, technology that can scan hundreds of plates per minute. In the 2008 election cycle, Virginia State Police used automatic license plate readers on attendees' cars at political rallies for Barack Obama and Sarah Palin, the ACLU revealed. Alone, license plates may not amount to much information, but police have the ability to check those plates against other records, and -- over time -- can observe patterns about a driver's habits, the ACLU argued.

Meanwhile, the federal government is quietly ramping up its surveillance approach at airports, using technology that was, "in most cases developed for the battlefield," Bedoya said.

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Delta and JetBlue are rolling out new ways to use the sophisticated technology on passengers, but not everyone is on board. Stacey Butler of CBS ...

U.S. Customs and Border Protection began testing facial recognition software -- called Biometric Exit -- at Dulles International Airport outside Washington, D.C., in 2015, and pilot programs are expanding to other large airports. The software -- the concept of which was first required by Bill Clinton-era legislation in 1996 -- is intended to check visa holders entering or leaving the country through facial matching systems. That scan can be checked against a person's passport. As Mr. Trump looks to toughen immigration policies, it's a timely tool.

But Bedoya worries the technology's use won't stop there.

"There aren't many people talking about biometric exit, when it might fundamentally change the way we travel," Bedoya said.

It's unlikely the technology will only be used on foreign nationals, Bedoya said. Many airports mix international and domestic terminals, and it's more practical and realistic to use the technology at the main Transportation Security Administration (TSA) checkpoint, Bedoya said.

"That means you have a flow of both domestic and international travelers," Bedoya said.

Once it's in place, facial recognition software -- like other kinds of policing technology -- can be used to match other federal databases and tell a story.

"We shouldn't forget that all of these tools can be put together," Feeney said.

"Drones can be used to mount a license plate reader," Feeney said. "Body cam footage could be linked to drone footage."

Congress has made some efforts to strengthen privacy in recent months. In February, the House passed the Email Privacy Act, which would require a warrant for any access to stored digital communications. But the Senate has yet to take any action on it, and threats of terrorism may easily quash any momentum on similar legislation, Slobogin said.

"If we have an event like Manchester in the United States -- or Manchester itself -- that might push Congress in the other direction," Slobogin said.

Absent much guidance from Congress in the way of laws, the courts are deciding the future of surveillance as it pertains to the Fourth Amendment, Slobogin said.

"Some of the lower courts have looked at warrants and searches and things of that nature, but the Supreme Court really hasn't weighed in on those kinds of issues," Bloom said.

Slowly, that's changing, as cases work their way up to the highest court in the land.

This year, the Supreme Court will decide United States v. Carpenter, on whether the warrantless seizure and search of historical cell phone records revealing location and movements of a person over the course of months is constitutional.

"That is arguably going to be the most significant Fourth Amendment case in decades," Feeney said.

The Third Party Doctrine theory "needs to be grappled with significantly," and could be reviewed in that case, Bloom said.

The lack of legal protection against an expanding availability of policing technologies may not concern law-abiding citizens, but it should, Feeney said.

"At the moment, we seem to be mostly concerned about radical Islamic terrorism," Feeney said.

"Maybe in 15 years it's progressives, or libertarians, pro-life people or pro-choice people," he added.

This, Feeney said, is the fundamental question people should ask themselves: "Would I be happy with the state of the Fourth Amendment if my enemy is in charge?"

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What is the future of privacy, surveillance and policing technologies ... - CBS News

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Westside Story The Fog Has Not Lifted – The Suburban Times

Posted: at 5:55 am

On August 1, 2016, Lakewood City Council sent a clear message to all renters living in Lakewood by voting for the Rental Housing Safety Program. known as the R.I.P. Essentially the message from Lakewood City Council was, Lakewood renters do not possess enough brain power, energy or courage to manage their own rental housing SAFETY without government interference.

Although most, if not all, city council members do not agree with my viewpoint, I have provided a link above which will take you to the city website where council members share why they support the rental inspection plan.

While we have not heard much lately, it looks like it will not be very long before property owners and renters will have to start living with this new big brother program.

The Fourth Amendment to the U.S. Constitution guarantees that citizens are to be free of unreasonable search and seizure of their persons and papers.

The city councils vote indicates a willingness to violate Fourth Amendment Rights or at least the spirit of the Fourth Amendment Rights in the guise as the council says, moving in the right direction in the name of SAFETY.

For the sake of argument, lets say I am wrong and city council is right. Then why not make the SAFETY program more comprehensive?

I offer the following suggestions to our Lakewood City Council in consideration for making their SAFETY plan more comprehensive which means more renter SAFETY.

With these enhancements to the Rental Inspection Safety Program, I am starting to understand what our city councils drive for SAFETY can mean.

If Lakewood City Council chooses to ignore the Fourth Amendment by simply hiding behind the word SAFETY, our city can accomplish a lot by simply expanding their safety program.

One last observation. Our Lakewood City Councils R.I.P. is a genius move. Think about it. Without the council approved R.I.P. program made possible by hijacking the inspection provision of the Washington State Landlord Tenant Act there could be no R.I.P. The city now plans to bully their way over renter thresholds. The manipulation of the Landlord Tenant law is a bold and creative move.

What would happen if police bullied or forced their way through a renters front door with no probable cause, no reasonable suspicion, no exigent circumstances and no warrant? This would be thought of as an abuse of police power and a violation of the renters Constitutional Rights.

People would be outraged if our uniformed police acted in a Gestapo-like fashion. The ACLU would be all over this kind of police action. The Department of Justice would launch a major investigation. Civil lawsuits would be filed with the City of Lakewood paying out millions of dollars on civil rights claims. There would be protestors marching on city hall.

My compliments to our city council. They have made it possible to accomplish what would ordinarily seem impossible in America and in doing so, will be bringing SAFETY to our renters.

If in the end if the SAFETY enhancements I have suggested are not included in the R.I.P., then SAFETY must not be the real motivation for the R.I.P.. I would ask, What then is city councils true motivation?

For any of you thinking this article contains ridiculous suggestions, I would be quick to admit that I agree with you. But, my suggested SAFETY enhancements are no more ridiculous than Lakewood City Councils R.I.P. plan in terms of eroding renters and property owners right to privacy and security.

It is interesting to note that there are a number of U.S. court cases which explore what happens when law enforcement uses lethal force inside someones home after gaining entrance in violation of the Fourth Amendment. The question is, does the homeowner have the right to defend his right to privacy when a police officer or public official is inside his or her home illegally.

As the City of Lakewood pushes forward with their rental inspection program, I am confident they will work hard to create a smooth running inspection process. I am confident they will find cases to point to where they can say, See, one look at this rental confirms we need R.I.P. On the other hand, I will not be surprised to learn of the city experiencing, no causing, unexpected negative consequences.

There is time. I still hope City Council will be able to escape the fog that has clouded their judgment regarding constitutional rights.

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Westside Story The Fog Has Not Lifted - The Suburban Times

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Luther Strange introduces bill to close Obama-era 2nd Amendment loophole – Alabama Today

Posted: at 5:54 am

Taking action to protect Second Amendment rights from unwarranted executive intrusion, Alabama Senator Luther Strangeon Wednesday introduced the Protecting the Second Amendment Act.

The bill would amend the Gun Control Act to nullify generalized, routine, or ongoing reporting requirement on lawful gun owners based on geographic location or sales records of multiple long guns, and prohibit future executive action against them.

The Obama administration demonstrated time and again a disturbing willingness to bypass the separation of powers and disregard Congress as a Constitutional watchdog, explainedStrange. Had the restrictions faced by lawful gun dealers in border states been applied to Alabama, many sportsmen, myself included, would have a difficult time practicing our hobby, and exercising our Constitutional rights. With this bill, I am proud to stand up against existing and future threats to the rights of lawful gun owners, and restore respect for the rule of law.

Under an Obama-era executive order claiming to target the flow of firearms to Mexican drug cartels, gun owners and dealers in California, Arizona, New Mexico, and Texas were subjected to additional reporting requirements on firearms above .22 caliber.

The Protecting the Second Amendment Act has already received support from originalSenate cosponsors, Texas-RepublicansJohn Cornynand Ted Cruz, and is being praised by the National Rifle Association as an important step in rolling back the full extent of Obama administrationsactions against guns.

On behalf of the NRAs five million members, we would like to thank Senator Strange for introducing this important bill that would roll back the Obama administrations defacto gun registration scheme, said NRA-ILA Executive Director Chris Cox. Senator Strange continues to be a champion for our Second Amendment right to keep and bear arms in the U.S. Senate.

For eight long years the Second Amendment was constantly under threat by an Administration hostile to the fundamental right of Americans to defend themselves, addedCornyn. This bill will help roll back unilateral regulations from the last Administration targeting law-abiding gun owners, and Im proud to join Senator Strange in this fight.

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It’s Time for Congressman Issa to Come Down From the Roof and … – ACLU (blog)

Posted: at 5:54 am

On May 30, Rep. Darrell Issas San Diego County constituents saw a different side of the nine-term member of Congress.

Angry at peaceful protesters outside his district office building in Vista, California, the congressman took to the roof to express his frustration. Looking down upon the protesters, he phoned a local newspaper reporter to explain he was on the roof because the protesters wouldnt speak to him and blamed the reporter for being in cahoots with the protesters. On Twitter, however, Issa said he spent his morning talking to constituents and then popped upstairs to photograph them from the roof.

While Issas behavior was erratic, it isnt the most concerning aspect to this story. No member of Congress likes to see protests outside his window, but he should vocally defend protesters First Amendment right to do so. But Issas silence has been deafening, even though the city of Vista is trying very hard to crack down on the protests.

For the past few months, Ellen Montanari has organized weekly protests outside Issas office to voice concerns over Issas public policies, including Issas vote to repeal Obamacare. These days, people are eager to express their dissatisfaction with Issas performance and Montanaris protests have given them a platform to do it. So every Tuesday, the protesters show up for an hour-long peaceful rally outside of Issas office, and the city of Vista has taken notice.

Until recently, the protesters gathered on the public sidewalk next to his office building to exercise their First Amendment rights. But under the terms of the citys most recent permit, which is issued in 30-day increments, they have been relegated to a dirt path on the opposite side of the road. Taking direct aim at Montanari, the permit also makes her financially responsible for the behavior of all the protesters who show up.

The actions taken by the city are unconstitutional. The Supreme Court has ruled repeatedly that public sidewalks are one of the places where our First Amendment rights are at their most robust. A government restriction on sidewalk protests can be justified only by the most compelling and fact-based need and that reason can never include the government's desire that a protest be less visible or less critical.

Our First Amendment freedoms ensure that anger and political disagreement dont fester into violence.

On June 1, the ACLU of San Diego and Imperial Counties issued a letter to the city of Vista seeking the removal of the unconstitutional restrictions in the permit granted to Ellen Montanari. In our letter, we made it clear that the city cannot ban protest from a public sidewalk or make Ms. Montanari responsible for the conduct of others. We also explained to the city that it cannot bill protesters for any law enforcement response and reminded it cannot ban the use of bullhorns or microphones by protesters. The ACLUs letter is now under review by the city attorney.

Contempt for the First Amendment, however, isnt confined to Vista. Since the election, 22 state legislatures have considered 31 anti-protest bills. Fourteen have been defeated, but 10 are pending and seven have passed including laws in South Dakota and Tennessee against blocking streets during demonstrations.

But the United States commitment to the First Amendment has been on the decline since before the election.

In July 2016, Maina Kiai, the United Nations special rapporteur on the rights to freedom of peaceful assembly and of association, undertook an official mission to the U.S. to assess our countrys commitment to freedom of assembly and protest. When he completed his trip, he observed that Americans have good reason to be angry and frustrated at the moment.

But he then went on to explain that its our First Amendment freedoms that ensure that anger and political disagreement dont fester into violence. And it is at times like these when robust promotion of assembly and association rights are needed most, he said. These rights give people a peaceful avenue to speak out, engage in dialogue with their fellow citizens and authorities, air their grievances and hopefully settle them.

The local officials of Vista, California, should heed Kiais words and stop trying to block Ms. Montanari and other peaceful protesters from exercising the very rights that have made America an example to the world for over two centuries. And we should all hope Darrell Issa can find his way down from the roof and assure his constituents that he believes they have a right to protest even when hes the target.

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Editorial: Court shores up First Amendment – The Detroit News

Posted: at 5:54 am

The Detroit News 11:04 p.m. ET June 22, 2017

The court ruling upholds the principle that the First Amendment protects even hateful speech.(Photo: J. Scott Applewhite / AP)

Americans shouldnt need constant reminding that under the First Amendment, they can say what they want, when they want and to whom they want, no matter how hateful or offensive.

And yet as longstanding as is that principle, the U.S. Supreme Court had to affirm it again this week when it ruled unanimously that an Asian rock band could trademark its name the Slants even though it is a derogatory term sometimes used to demean Asians.

The U.S. Patent and Trademark Office had denied the bands request to register and protect its name, deeming it amounted to hate speech. The office similarly stripped the Washington Redskins football team of its trademark because it is offensive to Native Americans.

The courts ruling basically upheld the principle that all speech, including hateful speech, is protected by the First Amendment and should not be restricted.

Thats the right call. The obvious danger of allowing the federal government to be the arbiter of free speech is that restrictions are easily manipulated to suit political agendas.

And offensiveness is very much in the ear they beholder. What shocks one person may not faze another.

The idea that the government may restrict speech expressing ideas that offend strikes at the heart of the First Amendment, Justice Samuel Alito wrote. Speech that demeans on the basis of race, ethnicity, gender, religion, age, disability, or any other similar ground is hateful; but the proudest boast of our free speech jurisprudence is that we protect the freedom to express the thought that we hate.

Alitos opinion provides important clarification for the so-called disparagement clause of federal law, which forbids registration of a trademark that may disparage ... persons, living or dead, institutions, beliefs, or national symbols, or bring them into contempt or disrepute.

Thats an overly broad carve-out that, again, relies on subjective interpretations influenceable by the regulators own experiences and biases.

Its not the appropriate role of the government, according to Justice Anthony Kennedy.

A law that can be directed against speech found offensive to some portion of the public can be turned against minority and dissenting views to the detriment of all, Kennedy wrote in concurrence. The First Amendment does not entrust that power to the governments benevolence. Instead, our reliance must be on the substantial safeguards of free and open discussion in a democratic society.

There are, of course, marketplace consequences when speech oversteps societal norms and broadly offends. Products can be boycotted and individuals shunned. Thats the appropriate regulator.

This court has been a good friend to the First Amendment at a time when there are many who would shred it to stifle dissent and control the national political debate.

That the Slants opinion came on an 8-0 vote is a powerful affirmation of the foundational right of free speech and its sacred role in a democratic society.

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Senator Feinstein Thinks It’s Acceptable for Violent Mobs to Control Speech – National Review

Posted: at 5:54 am

During a Senate Judiciary Committee hearing earlier this week, Senator Dianne Feinstein (D., Calif.) said that it was okay for universities to cancel controversial speakers over threats of violence and people got mad at her for trying to silence conservative voices.

But all of those people were missing the point.

Yes, Feinsteins comments do come at a time when speakers invited by conservative student groups have routinely been met with debilitating protests. And yes, a Democratic senators suggesting that colleges have every right to cancel Republican-invited speakers is certainly going to sound the partisan-outrage alarm bell and I cant say Im surprised to have seen so many headlines likeDianne Feinstein Defends Canceling Conservative Speakers on Campus(The Daily Caller) andSenator Feinstein Defends Suppression of Conservative Speakers On College Campuses (Mediaite), and countless similarly scripted tweets.

But the truth is, what Feinstein said shouldnt be upsetting for partisan reasons its much, much bigger than that. The issue here is not that colleges are denying their students the right to hear conservative speakers, because, of course, no such right exists.

The issue is this: Feinsten is saying that students are not free to bring any speaker that they choose to their campuses, because campuses are not safe places for free speech, and that that is totally acceptable and fine. Remove the ideology of the controversial speakers in question, and it becomes clear just how absurdly out of line Feinstein really is.

Student groups choosing and inviting speakers is a normal, acceptable campus protocol, and even offensive speech is protected under the First Amendment. So, basically, what Feinstein is saying is that colleges do not have a duty to make sure that the First Amendment is protected on campus that it is not important for campuses to make sure that the First Amendment is not able to be overridden by threats from violent mobs.

Now, Feinstein tried to argue that colleges simply dont have the resources to deal with this problem, but thats pretty obviously a garbage excuse. Colleges are bloated with wasteful spending, and Im pretty sure that protecting students civil liberties and making sure that a campus doesnt turn into a microcosm of fascism, where violence is used to silence people is a little more important than the annual Microaggressions Awareness Festival Featuring Puppies and Finger-Paint Time, or whatever other trash these schools might spend it on. And, as UCLA law professor Eugene Volokh pointed out during the hearing, the police can help too after all, protecting our rights is literally the police forces job.

So, yes, get mad at Senator Feinstein. Get very, very mad but not because youre a conservative. Often, partisan loyalty is the reasonpeople become outraged, but this time, it seems to be the reason that people dont realize just how outraged they should really be.

READ MORE: Anti-Free-Speech Radicals Never Give Up Speech Is Not Violence and Violence Is Not Self-Expression When Speech Inspires Violence, Protect Liberty While Restoring Virtue

KatherineTimpfis aNational Review Onlinereporter.

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Court Expresses Concerns About First Amendment Violations Before Dismissing Appeal – PR Newswire (press release)

Posted: at 5:54 am

DENVER, June 22, 2017 /PRNewswire-USNewswire/ -- On Tuesday, June 20, a three-judge panel of the United States Court of Appeals for the Tenth Circuit issued its opinion in Sause v. Bauer, in which First Liberty Institute and Gibson, Dunn & Crutcher, LLP represent Mary Anne Sause. Police ordered Sause, a devout Catholic, to stop praying in her own home while investigating a noise complaint.

Writing for the majority Judge Moritz stated, "We assume that the defendants violated Sause's rights under the First Amendment when, according to Sause, they repeatedly mocked her, ordered her to stop praying so they could harass her, threatened her with arrest and public humiliation, insisted that she show them the scars from her double mastectomy, and then 'appeareddisgusted' when she complied all over a mere noise complaint."

Read the opinion by clicking here.

"Although the decision to uphold the lower court's dismissal is disappointing, the harsh criticism of the officers' conduct in this case supports our First Amendment claim," Jeremy Dys, Deputy General Counsel for First Liberty Institute reiterated, "No one should face the prospect of being arrested for praying in their own home."

In defending the police officers' actions, the government argued that the First Amendment's Free Exercise Clause only "protects an individual's right to choose a religion." First Liberty attorneys representing Sause argued that this misconstrued the Free Exercise Clause, which protects not only the right to choose a religion, but also the right to freely exercise one's faith.

While Ms. Sause's appeal was ultimately unsuccessful, the court stated clearly that Sause's First Amendment rights may have been violated, but the legal doctrine of qualified immunity shields the officers from any liability. The concurring opinion condemned the police officers' "extraordinary contempt of a law abiding citizen."

Read more and view legal documents and photos at FirstLiberty.org/Sause.

About First Liberty InstituteFirst Liberty Institute is the largest legal organization in the nation dedicated exclusively to defending religious freedom for all Americans. Read more at FirstLiberty.org.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/court-expresses-concerns-about-first-amendment-violations-before-dismissing-appeal-300478668.html

SOURCE First Liberty Institute

https://firstliberty.org/

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TenX Figured out How to Make Cryptocurrency Spendable Immediately In Real Life – Inc.com

Posted: at 5:52 am

Entrepreneur's have officially gotten their hands in the cookie jar of the cryptocurrency world. And believe me that's a good thing.

TenX, who is launching their highly anticipated ICO this coming Saturday has figured out how to solve one of the biggest problems for people that are involved in cryptocurrency -- actually spending the currency.

The worlds of entrepreneurship, cryptocurrency and Initial Coin Offerings are officially merged and entrepreneurs are raising 10s of millions of dollars to fund their companies. Bancor, Status and Basic Attention Token were prime examples of tokens/startups who collectively raised millions of dollars through ICOs.

The problem TenX is solving and why their ICO will likely also do very well is that nobody can actually spend cryptocurrencies at 99% of businesses without having to wait days to exchange it through a centralized exchange bankinto Fiat (government issued currency), or jump through other major hoops.

TenX has built an iOS and Android app that serves as both a wallet and a decentralized fee free exchange, then adds a debit/credit card functionality on top of that to let you spend your cyrptocurrency anywhere you could use VISA or Mastercard. (They send you a physical card.) It also converts it to local currency, meaning it pretty much works in any country.

As of right now TenX's platform officially supports Ethereum, Bitcoin, and Dash, amongst others.

Vitalik Buterin the founder of Ethereum is also an official advisor to the company. Historically, any ICO that he has backed has done phenomenally well. Another big factor for ICOs that typically do well is when they already have their tech built. TenX has a fully functioning and tested iOS and Android version and is ready to get it out in the everyones hands.

The ICO is scheduled for June 24, 2017 at 9am New York Time. 1 Ether will be worth 350 PAY tokens. Here is a link to their full whitepaper.

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Aberdeen Says Cryptocurrency Bubble Will Burst Even If Coins Change Finance – Bloomberg

Posted: at 5:52 am

Peter Denious, head of global venture capital at Aberdeen Asset Management Plc, said were in the midst of a virtual currency bubble, and like all bubbles, it will eventually burst.

That doesnt mean investors should necessarily steer clear. Aberdeens venture capital arm, which has about $1.8 billion entrusted in early stage funds, is considering investing in funds that hold blockchain-based companies and digital coins, Denious said. Still, he said the cryptocurrency boom thats attracting millions into startups and spurring triple-digit gains in their digital tokens isnt sustainable.

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A lot of lessons will be learned and a lot money will be lost, before a lot of money can be made, Denious, who is based in New York, said in an interview. Prices right now arent being driven by network usage, theyre being driven by speculation that tokens are going to appreciate. Its a gold-rush mentality. The winners will be those who are really creating highly disruptive, network-based businesses.

Technology companies have raised $646 million this year in so-called initial coin offerings, more than six times the total raised last year, according to Coinschedule.com. The rapid surge in token prices, doubling on average since they start trading, has convinced investors to hand over millions to early stage developments in fundraising rounds that often close in minutes. The hype has driven coins for ethereum, the network on which many of the projects are built, to surge to about $300 from $8 at the start of the year.

All that hype is making Denious, and many others, a little skeptical. Digital currencies potential to disrupt venture capital is also raising flags.

Read more on how network congestion is hindering trading in digital coins

ICOs are allowing early stage companies to bypass venture capital. Denious said this funding mechanism will persist even after the market cools, but it will co-exist with VCs as token sales only make sense for companies that benefit from a blockchain-based decentralized network. Venture capital firms can also be more helpful in building companies, through expertise and connections.

So whats an institutional investor to do with a world-disrupting asset, thats also over-heated? Denious said hes focused on finding funds with expertise in the field and a good track record. He has talked to four or five funds focusing on blockchain-based companies so far, declining to name them.

Aberdeens interest is a sign that blockchain companies and their digital tokens have the potential to reach a wider investor base in the future. Denious said he doesnt doubt that will be the case.

The ingredients are all there for a new asset class, he said. Were in need of restoring what the internet initially offered, which is the power of decentralization. The power has re-centralized in the hands of a few market participants and this technology can disrupt that. The potential is exciting.

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This Ethereum flash crash shows how cryptocurrency markets are super risky – Mashable

Posted: at 5:52 am


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This Ethereum flash crash shows how cryptocurrency markets are super risky
Mashable
The price of ether, the cryptocurrency of the suddenly hot Ethereum platform, has since rebounded and is trading back at about $318. The crash, however, remains as a big reminder that this is a volatile, new market. Plenty of people have made small ...
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