EFTA Document EFTA01784147

From: Sent: Saturday, January 30, 2016 9:03 PM To: Jeffrey E. Subject: Re: Fwd: Thank you. Very useful! 04>=82npaaneHo c iPad 30 RHO. 2016 r., a 17:08, jeffrey E. <[email protected]> ma0=8Fincan(a): =div>For you alone Forwarded message - From: Vincenzo lozzo Date: Saturday, 30 January Subje=t: To: "jeffrey E." <[email protected] <mailto:[email protected]» • It's hard to tell w=o proper code/documentation (couldn't find much online). In general the fou= things are: 1) the devil is in the details,=meaning that even if in theory it's all solid the implementation might have=bugs. There's no definitive technical solution for that though <=iv> 2) anything that is "custom" (eg: they have a custom wifi=protocol) is a red flag because it means that it hasn't been properly vette= and might be broken/buggy 3) there aren't e=ough details online to tell but it seems to me that to speed up the blockch=in verification they partially centralize the network by using their own "s=pernodes" (essentially the wallets talk to the supernodes vs the actual blo=kchain). The security of those servers seems key to me and they gloss over i= online 4) the mesh network implementation is comp=etely up in the air (judging from what's public) and it could go horribly w=ong. So that needs further verification Also=(5), in general the disadvantage of distributed /open things is that it is a=lot easier to steal money vs a closed network (like swift). <=div> Are you looking to invest into this thing? If so , I'd sugge=t a few things: A) because problem (1) above=is not completely solvable, they need to have a plan. Part of it is t=chnical (do continuous code auditing, pentesting, on board proper crypto pe=ple, etc), the other part is legal/financial and pr. Specifically they shou=d have some kind of insurance and they should have a pr disaster recovery p=an. A big EFTA_R1_00105253 EFTA01784147 disadvantage of decentralized system is that you don't have anybo=y to trust and you don't have a closed network that can make stealing money=hard, they need to address that B) realistic=lly nobody is going to attack them until they become significant enough fro= a financial standpoint. This gives them time to work on A. That said they s=ould avoid making enemies (the "disgruntled" hacker type) <=r> Hope this is useful, if you get more stuff from them I'm happy=to look into it more. Also if you do invest I can help them with (A) if nee=ed. It's a very dumb platitude but "security=is a process" is true. Unrelated: checkout <= href="http://edge.org" target="_blank">edge.org, I think you'll li=e it. There's a short video with Minsky that is absolutely fantas=ic Sent from my (phone On J=n 30, 2016, at 11:26, jeffrey E. <[email protected] <javascript:_e(%7B%7D,'cvml'='[email protected]');> w=ote: (https://myceliu=.com/phone/index.html). what are its weak points? =nbsp; please note The information contained in this communica=ion is confidential, may be attorney-client privileged, may constitut= inside information, and is intended only for the use of the addressee. 1= is the property of JEE Unauthorized use, disclosure or copying of th=s communication or any part thereof is strictly prohibited and may be=unlawful. If you have received this communication in error, please notif= us immediately by return e-mail or by e-mail to jeevacation@gma=l.com <javascript:_=(%7B%7D;[email protected]);> , and destroy this communication and all copies thereof, inc=uding all attachments. copyright -all rights reserved &nb=p; please note The information contained in=this communication is 2 EFTA_R1_00105254 EFTA01784148 confidential, may be attorney-client privileged, m=y constitute inside information, and is intended only for the use of t=e addressee. It is the property of JEE Unauthorized use, disclosure o= copying of this communication or any part thereof is strictly prohibite= and may be unlawful. If you have received this communication in erro=, please notify us immediately by return e-mail or by e-mail to [email protected], a=d destroy this communication and all copies thereof, including all at=achments. copyright -all rights reserved 3 EFTA_R1_00105255 EFTA01784149