APR 14 DIGEST: Bitcoin Foundation appoints Bruce Fenton as Executive Director and Kaspersky Releases Decryption Tool that Unlocks Ransomware

The Bitcoin Foundation Board has elected Bruce Fenton to the position of Executive Director; Kaspersky releases a decryption tool in the battle against ransomware and more top stories for April 14.

Bitcoin Foundation Appoints Bruce Fenton as New Executive Director

In a vote consisting of five ayes and one abstention, the Bitcoin Foundation Board has elected lifetime member Bruce Fenton to the position of Executive Director, replacing Patrick Murck.

In an interview with Bitcoin Magazine, Fenton stated:

“The first order of business will be both getting the most accurate picture of where we are [financially] and communicating with members and stakeholders on the best ideas and priorities moving forward (…) I’m not sure how long it will take… but certainly I’ll work to get the most full picture as quickly as possible.”

Kaspersky Releases Decryption Tool that Unlocks Ransomware

In the battle against ransomware, which locks up computers and demands bitcoin in order to unlock it, ICT-security firm Kaspersky has released a new decryption tool. Although the program isn't 100 percent effective yet, Kaspersky expects to grow the key database and further improve the tool's functionality as police forces around the world continue to investigate ransom campaigns.

Bitcoin Blamed as Pedophiles Use it to Obtain Child Porn Outside Tor Network

In yet another attack on bitcoin, a UK internet watchdog has claimed that it found the cryptocurrency is being used by pedophiles to buy explicit child sexual abuse images online. The Internet Watch Foundation (IWF) said in its 2014 annual report that the "most prolific" commercial websites selling child sexual abuse images started accepting bitcoins for payments in 2014.

Lawnmower App Invests Change in Bitcoin

The new Lawnmower app tracks its users’ credit cards and banking transactions and rounds each one up to the next dollar investing that spare change into bitcoin. If you buy US$3.25 cup of coffee, for example, Lawnmower will round up to US$4 and take the extra 75 cents and buy bitcoin.

Co-founder Alex Sunnarborg:

“We’re promoting these tiny little purchases every day […]. It’s really for the saving, investing side [of Bitcoin’s growing uses.]”

Singapore Govt-Backed FinTech Accelerator Boosts 3 Bitcoin Startups

Startup accelerator Startupbootcamp FinTech announced on Monday the top 10 finalists to join its Singapore program. Among these finalists are blockchain-based startups Otonomos, CryptoSigma and DeBuNe, demonstrating that Singapore’s government is serious about its ambitions to become Asia’s blockchain technology hub.

According to Markus Gnirck, Global COO at Startupbootcamp FinTech:

"Since the beginning of the year, we have scoured the Asia Pacific and the globe for the most fascinating, innovative and promising FinTech startups. With 300 applications it shows that FinTech in Asia is on the rise to tackle local problems with the potential for global scale. We have met close to 200 startups, visited 12 financial hubs across APAC and beyond, so we feel confident that the 10 teams selected showcase the very best that financial services and technology has to offer."

ESPN Open to New Bitcoin Industry Bowl Game Sponsors

Weeks after the surprise announcement that it would drop Bitcoin from the title of its St Petersburg Bowl, ESPN remains tight-lipped regarding its “mutual decision” with former St Petersburg Bowl sponsor BitPay to cut short its support for the event. Even despite the untimely ending to its contract, ESPN has however suggested it may be open to sponsorship opportunities with companies in the Bitcoin space when considering bowl game sponsors.

According to a spokesperson:

”We would not rule out any serious party that would be approved per NCAA rules as our title sponsor.”

FairShareLoans Launches Micro-Loan Service on Reddit

The new subreddit FairShareLoans is attempting to make micro-loans without a bulky identity process. Creditworthiness of the borrower is determined by his Reddit karma and account history. The borrower is expected to pay back the bitcoin loan, with interest, within 30 days.

'Bitcoin Baron' Behind Cyber Attacks Busted in Arizona

A self-proclaimed “Bitcoin Baron” is in police custody in Arizona on charges of computer tampering for cyberattacks on statewide systems as well attacks on the city of Madison, Wisconsin. The DDoS attacks in Arizona were in apparent retaliation for the release of a felon that later committed murder, while the Wisconsin attacks were punishment for the fatal shooting of a 19-year-old man by a Madison police officer.

Environmental Timber Project Backed by Cryptoequity WoodShares Launches Crowdsale

WoodShares has officially launched its crowdsale. With this initial crowdsale, Woodshares is raising money to purchase land and tree seedlings, and to begin the cultivation of the trees. By purchasing WoodShares tokens in this initial sale, supporters will be able to buy these coins at a discounted rate; as rounds progress, coins become more expensive. The crowdsale will follow the new organization Distributed Collaborative Organization form created by Swarm.

Ination COO, Nathan Wosnack: Build Steganography Tools for Encrypted Bitcoin Wallets

U.S. Customs personnel may seize electronic devices without a warrant and without suspicion, download their entire contents, and declare the right to confiscate digital currency holdings – that is, if they can find the electronic evidence. iNation COO, Nathan Wosnack said in an interview with Cointelegraph that the solution to these “blatant violations of privacy” when crossing state borders lies in further innovation:

“All the more reason to build steganography tools for encrypted mobile and desktop wallets. They cannot seize what they cannot see in the first place.”

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