Home Crypto News Russia attempts to acquire privacy tech startup NYM 

Russia attempts to acquire privacy tech startup NYM 

7 min read
0
0
2

Due to a leaked “exclusive” press launch and confidential emails, it seems Russia seeks to safe its web in the course of the COVID-19 disaster by buying Swiss privacy tech startup NYM. While the “RU Net“ just isn’t prepared this may very well be step one in fortifying the nation’s knowledge highways in the course of the present international pandemic. Not solely are land borders being extremely contested, however the borders that shield Russia’s knowledge are additionally being closely guarded. 

Russia wants to protect its internet
Putin describing how selective disclosure credentials work at current press briefing.

Investment from Russia

The emails present that  a cryptocurrency funding entity thought to be secretly managed by the Russian authorities, has made a suggestion to buy Nym. This ought to come as no shock as apparently the identical agency misplaced its bid to buy Chainspace, as they have been outbid by Facebook to construct Libra. Nym Technologies CTO, Dave Hrycyszyn, co-founded Chainspace however left Facebook earlier than beginning Nym Technologies. 

Russia in “lockdown”

False Alarm 

Amid the present COVID-19 disaster and the financial impression that it’s having on the worldwide financial system, Russia seeks to shield its web site visitors from being uncovered to Global Passive Adversaries (GPA) such because the NSA or GCHQ. Nym attracted Putin’s consideration after a public debate on “hacking” between Nym founder Harry Halpin and notorious Putin advisor Alexander Dugin in November 2018.   “We can no longer expose our nation´s internet traffic in the open“ Putin’s advisor said. “Data about current COVID-19 gathered by Russian agencies needs to flow without leaking any information of where the information is coming from,” stated Ruslan Rolstov from the Ministry of Digital Development. Recently a western media company reported a surge in web site visitors from the Volga area of Russia due to new ranges of an infection in that area. This info was not solely false however brought on panic which led to many voters trying to flee in the course of the present lockdown. 

Natalia Poklonskaya
Crimea’s Chief Prosecutor Natalia Poklonskaya takes current knowledge breaches amid the COVID-19 disaster very critically

Joint Task Force 

The Ministry of Health, Russian Foundation for Technological Development and Ministry of Digital Development are stated to be working collectively in a joint effort to implement “Selective Disclosure Credentials” as a brand new normal for all communication between authorities businesses so as to cryptographically confirm the validity of knowledge shared inside their techniques. Ruslan Rolstov acknowledged that  “SDC (Selective Disclosure Credentials) allow us to share data privately, and we need to add the Nym mixnet to communicate with each other without the risk of an entity that has the ability to monitor the whole network to harvest meta-data of our communication.” It is unclear if Russia will use the prevailing selective disclosure credential scheme utilized by Nym credentials or if they may create their very own utilizing Rusian GOST cryptographic requirements developed internally. 

There is a battle for the oil knowledge.

Oil Wars

A mixnet that forestalls the leakage of meta-data may be very helpful for Russian oil firms sending knowledge concerning their manufacturing. Recently tempers have been flaring between Russia and OPEC as they may not come to an settlement on oil manufacturing and the oil worth has fallen from 65$ to below 20$ during the last month. Making it tougher for oil-producing nations like Saudia Arabia to collect any type of intelligence concerning oil is little doubt essential in Russia’s contest with the USA and Saudi Arabia. Rolstov continued, “Edward Snowden has been quoted as saying that the NSA´s use of metadata “one of its most useful tools” and we can not use Tor because it doesn’t work towards a international international passive adversary just like the NSA, and we want another to Tor like Nym that doesn’t have any funds from the US authorities.” There is expectation that the brand new effort to defend Russia’s metadata will likely be introduced in the course of the CTCRYPT convention 2020 in Sochi, Russia. 

Violetta Seina, Crypto Investor

NYM is a Swiss-based privacy tech startup that’s constructing the subsequent technology of privacy infrastructure. The know-how relies on Coconut and Loopix and has the industries main cryptographers and cryptography researchers on the crew.

Load More Related Articles
Load More By admin
Load More In Crypto News

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Fintech Experts Share Tips for Remote Work During Coronavirus Quarantine

Much of the work that has taken place within the cryptocurrency and fintech industries has…