M12, Microsoft’s venture capital fund, led a $20 million funding round for Web3 startup Space and Time as the tech giant focuses on decentralizing data. Space and Time says it’s the first decentralized data warehouse able to transform any central database into a trustless data source connected directly to smart contracts, using its “proof-of-sequel" cryptography. In case you're not familiar, a smart contract executes a contract on a blockchain network without the involvement of any third party such as a lawyer. Read More...
Reuters
Australia flags privacy overhaul after huge cyber attack on Optus
Australia plans to toughen privacy rules to force companies to notify banks faster when they experience cyber attacks, Prime Minister Anthony Albanese said on Monday, after hackers targeted the country’s second-largest telecoms firm. Optus, owned by Singapore Telecoms Ltd, said last week that home addresses, drivers’ licences and passport numbers of up to 10 million customers, or about 40% of the population, were compromised in one of Australia’s biggest data breaches. Australian media reported an unidentified party had demanded $1 million in cryptocurrency for the data in an online forum but Optus has not commented on its authenticity.
