Google Is Reportedly Experimenting With Blockchain Technology

Google seems to be working on the latest distributed ledger technology, that underpins the Bitcoin, to support their cloud business.

According to an unnamed sources who talked with the Bloomberg, the search engine company wants to head off the competition by creating their own shared ledger technology to validate transactions within their cloud based services.

Google And Blockchain

The company will form a blockchain that can be used internally in the company as well as the third parties can access to post and verify the transactions, said the unnamed source.

Google reportedly wants to use the blockchain technology in their cloud sector. For example, the shared ledger could be used to soothe clients and customers that their confidential data is safe and protected when stored in Google Cloud. Google has filed a patent application for a tamper-proof audition system backed by Blockchain technology.

The company was researching the distributed ledger technology but still there is a no official product to release, says Sridhar Ramaswamy, Google’s senior vice president of ads and commerce to CNBC.

“Like many new technologies, we have individuals in various teams exploring potential uses of blockchain but it’s way too early for us to speculate about any possible uses or plans."

A Google Spokeperson

Blockchain Technology Being Used By Other Tech Giants

Tech giant companies like IBM Corp, Microsoft, and Amazon AWS, are leading the pack of blockchain service providers.

Microsoft is working on its BAAS (Blockchain as a service) model on its Azure cloud platform since past two years. Morever, in August 2017, the company has announced a software named “Coco Framework” to help enterprises adopt blockchain.

An American tech giant company, IBM is also working on its own IBM Blockchain, a service build on the Hyperledger Fabric.

Amazon Web Services aka AWS admitted that the company is working on integrating blockchain technology. Amazon still isn’t working on its own service but they’ve launched a portal to help their customers. Continuing the suspense, Amazon has reserved many bitcoin related domains last year. It indirectly indicates their interest towards the cryptocurrency and the technology.

However, it is unclear what forms these new technologies will take and whether a top tech firm will successfully be able to make their blockchain based product mainstream.

Kraken Unveils Potential Attacks Against Ledger Nano X Hardware Wallet

Kraken Security Labs, the cybersecurity division of the popular cryptocurrency exchange Kraken, has unveiled two potential attacks against the Ledger Nano X hardware wallet, which have now been patched.

The attacks, according to Kraken’s cybersecurity arm, could see bad actors get access to victims’ computers, and use said access to install malware that would allow them to steal their cryptocurrency holdings.

The first attack, named Bad Ledger, would require the hacker to first tamper with the device before it was sold to the victim – something that can happen if the victim buys a Ledger from a seller on eBay, for example – to add a protocol that behaves like a keyword and can send malicious keystrokes to the victim’s computer.

In a video Kraken shared, cybersecurity experts use an infected Ledger Nano X to open their website on a computer.

The second attack, dubbed Blind Ledger, could see hackers run malicious code on a non-secure processor to turn off the Ledger Wallet’s display, even if the device was running on its battery. They could then use social engineering to convince a victim top press several buttons to trigger a transaction that would move the funds to the hacker’s address.

As the display would be disabled, the victim could not check the transaction was being sent to that wallet. To stay safe, Kraken recommends users only buy Ledger devices from trusted stores, always verify transactions on the Ledger Now wallet, and be wary of the devices acts strangely.

Ledger, in response to Kraken’s findings, upgraded its firmware to protect its users against these attacks.

Featured image by Alejandro Escamilla on Unsplash