Posted on August 30, 2018 by staff

Daily Briefing: Would you store crypto in your DNA?


A new start-up is offering a $1,000 service which allows virtual currency investors to store their crypto passwords in a vial of DNA.

Carverr claims that its system is the “safest method of cold storage on the planet”, developed by a group of experienced asset managers and biotechnologists.

The company is able to retrieve the code by sequencing a user’s DNA and then de-coding the information to get the password, which is then securely transmitted back to the investor.

So far, 28 customers have signed up for the $1,000 service.

Carverr’s CEO and co-founder Vishaal Bhuyan said: “DNA is the only thing that won’t become obsolete.

“So the way I look at it, this is a trust or 401(k) that you can allocate some of your assets to and keep for a very, very long period of time.”

Facebook’s YouTube rival goes global

Social media giant Facebook is rolling out its Watch video-streaming service worldwide just over a year after its US launch.

The social media giant revealed in a blog post that the platform will be available globally, giving Facebook access that’s on par with YouTube and Netflix.

The move also means new opportunities for content creators and publishers around the world.Fidji Simo, Facebook’s head of video, said the company is expanding its ad breaks programme so more partners can make money from their videos.

“We launched Watch in the US a year ago to give people a place on Facebook to find shows and video creators they love and to start conversations with friends, other fans, and even creators themselves,” Simo wrote.

“Over the past year, we’ve made the experience more social — like making it easier to see which videos your friends have liked or shared, creating shows that have audience participation at their core, and opening Watch to videos from Pages.”

Italian football club acquired in crypto

Football club Rimini FC 1912 has made history after reportedly becoming the world’s first to be purchased in virtual currency.

Quantocoin, which uses blockchain-technology to provide an alternative crypto-payment method for investors, now owns 25 per cent of the the team.

According to Quantocoin partner Pablo Dana, the purchase will be the first of many that his Gibraltar-based firm wants to make in the industry.

He believes crypto could help fight corruption in the sport.

Iran to ‘evade US sanctions with crypto’

Iran has reportedly outlined plans to launch its own national cryptocurrency, in an attempt to evade economic sanctions imposed by the US.

According to news agency Ibena, the currency will be backed by the state and Iranian rials and transactions will be carried out on the blockchain.

Unlike bitcoin, it will not be possible for people to mine the currency because the infrastructure will be private.

Contraceptive app pulls ads after users get pregnant

Birth control app Natural Cycles has been told to pull one of its Facebook ads after several users fell pregnant.

The company said it ‘respects’ the Advertising Standards Authority’s ruling that its ad misled the public.

Launched in 2014, the app provides a natural alternative to contraception but has come under fire for claims that it is ‘highly accurate’ and provides ‘a clinically tested alternative to other birth control methods’.

Several women have come forward to share their stories of becoming pregnant while using Natural Cycles, saying they closely followed instructions for use.