Fafa announced the establishment of a blockchain company, writing a new book saying that the security of Bitcoin needs to be rebuilt

Former Mt. Gox manager Mark Karpeles has started a new play.

As the author of the new book Cryptocurrency 3.0, French fat said in an interview on Monday that he supports improved blockchain and bitcoin security. "Bitcoin is very continually using current encryption technology. dangerous."


(Mark Karpeles, not a recent photo, don't ask me why he is fatter)

In addition, he has become the CTO of a blockchain company, hoping to start again.

In February 2014, Fafa announced that hackers stole 850,000 bitcoins from Mt. Gox the previous year. Originally a magical trading venue, the site evolved into an official bitcoin exchange, the first place in many circles to buy and sell bitcoin.

The company went bankrupt. Fa fat admitted the mistake and the Japanese police arrested him. In short, this hacking attack has become an important moment in the cryptocurrency industry. In an instant, the industry has turned from a clever gadget to a serious and expensive career.

He says:

“Although I won the lawsuit in March 2019, I am sorry to have caused huge losses to the customers and caused inconvenience to the relevant personnel.”

In the interview, he explained how difficult it is to run a well-known transaction in his Japanese office.

“When I took over the management of Mt. Gox in 2011, I worked with members of the field and lawyers from different countries to deal with system problems, and then these problems were discovered one by one, and the volume of transactions increased rapidly. I 24 I’m paying attention to the hours. At that time, it would be nice if I could sleep for two hours. Because of jet lag, I sometimes schedule a meeting at 2 or 3 in the morning.”

“Perhaps now, the person responsible for operating the virtual currency exchange has learned to deal with this pressure. However, as long as the risk management is done by manpower, human error cannot be avoided.”

Fa Fat established blockchain company

After getting rid of most of the allegations in the Mt. Gox case, Fa fat revealed that he hopes to “start from scratch” through a new blockchain project.

His new company will develop a blockchain-based secure operating system that will outpace existing systems.

Fa Fat will serve as the CTO of the newly established Japanese company Tristan Technologies Co.

He seems to be interested in repairing his reputation in Japan. He said he hopes the technology will help Japan return to its former position as a global technology leader. In recent years, Japan’s advantages have been taken away by American giants such as Apple, Amazon and Facebook.

"In terms of personal computers, Japan used to be a superpower in engineering, but now, in the case of cloud computing, the dominant US is the US. But I still believe in the potential of Japan, and I am willing to develop this potential."

According to reports, the former CEO of Mt. Gox said that he currently does not hold any cryptocurrencies, which are high-risk assets. "I won't say that I am rich today," he added.

Bitcoin security needs to be rebuilt

Fa Fat now believes that the Bitcoin security infrastructure must be rebuilt.

"Virtual currency is still at risk of being stolen, because personal computers or hardware wallets are likely to be hacked. In other words, with current mechanisms and technologies, it is still impossible to eliminate risks. Innovation in cryptography is a must. ""

"The key is encryption. Bitcoin itself has used a technology called ECDSA from the beginning and has never been hacked. However, since the impact of hacking is difficult to completely eliminate, you must know that there is no security forever. Encryption technology. Bitcoin is very dangerous if it continues to use current encryption technology."

Fat wants security to be as simple as it is to migrate from a standard "http" to a web site protected by Secure Sockets Layer (SSL) or Transport Layer Security (TLS).

As a result, he announced the formation of the new company, Tristan Technologies Co, to develop the new technology.

He said that he still feels that the cryptocurrency space is amazing. Still someone is talking about this young man taking over an early exchange and making the world sensational.

“As I wrote in Cryptocurrency 3.0, I like Japanese animation, but one of the most impressive movies I have seen recently is The Promised Neverland. This animation tells the story of a group of children fleeing from where they are trapped. How will each child face the cruel and unfriendly reality? I watched the animation with interest."

“The reality of cryptocurrencies is severe. However, I don’t think a strong organization can make decisions easily, but I think a system that provides a choice for each participant is the best. If it succeeds, even if it exists. Security issues, everyone will wait for an important decision, and it is not possible to find a solution right away."

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Blockchain Capital: Why did we lead the investment in Worldcoin? We believe it will become the largest gateway to the crypto world.

Author | Blockchain Capital Translation | Wu Shuo Blockchain Original Link: https://blockchain.capital/worldcoin-pro...


US SEC Chairman Current regulatory system lacks the ability to address the risks of AI

The SEC chairman referred to artificial intelligence as the most transformative technology of this generation and emp...


Unable to guard against Why are a large number of encrypted Twitter accounts hacked and used to publish phishing links? How to prevent it?

Original Article | Cointelegraph Compilation | Wu said on July 21st, Uniswap founder Hayden Adams' Twitter account wa...


Will the current chairman of the US SEC be replaced soon? Apparently, he has a close relationship with this woman.

There are rumors that Gary Gensler, the chairman of the US Securities and Exchange Commission, will soon be replaced.


9 Important European Cryptography Regulations to Pay Attention to Besides MiCA

Compile | Wu Shuo on Blockchain Original Text | DL News Reference Reading: A Detailed Explanation of the EU MiCA Act:...


Who is Arkham? A free Nansen exploring tokenized business models.

Author | defioasis Editor | Colin Wu Recently, Binance announced the launch of the 32nd LaunchLianGuaid project Arkha...