Cybersecurity and Technology

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Category: Blockchain Page 1 of 2

What is the Future of Bitcoin?

In 2021, the value of Bitcoin hit an all-time high of around $69,000. However, it has since started to decline. At present, it has a market cap of around $39,000. Bitcoin is volatile, with a history of up and down cycles. This raises questions about its potential crash.

Over the course of the year, Bitcoin experienced a number of ups and downs. It wasn’t the only cryptocurrency that had a rough end to the year. The decline in global stocks was caused by various factors. One of these is the uncertainty surrounding a new Covid variant and the higher interest rates that it will cause businesses to pay.

In December, the value of various digital assets such as Bitcoin and other cryptocurrencies started to decline. In January, Bitcoin’s price hit around $40,000. It then continued to fall throughout the rest of the year.

Fears about the US raising interest rates and China’s continued efforts to ban cryptocurrencies are also contributing to the decline in the market. Bitcoin’s price does not take into account the performance of a company, but rather, it is determined by how people think it will perform. This is, in other words, the reason why the price movements are based on speculation.

Due to the nature of the speculation, Bitcoin can experience violent price swings. There have been several instances where the price has changed dramatically. Tesla CEO Elon Musk announced in May that the company would no longer accept payments made using cryptocurrencies due to the environment.

In June, China banned the trading and mining of Bitcoin. In the following month, UK banks stopped making payments to cryptocurrency exchanges. The FBI seized millions of dollars in Bitcoin from criminals. The UK’s financial watchdog also blacklisted one of the biggest cryptocurrency exchanges, including Binance.

In August, the International Monetary Fund warned about the potential effects of cryptocurrencies on the global economy. It noted that their widespread use could threaten the stability of the financial system. Also in August, a group of hackers known as the Poly Network stole $600 million from a financial firm. They then returned almost a third of their stolen money four days later.

In March 2021, Morgan Stanley became the first major US bank to allow its wealthy clients to access Bitcoin funds. It restricted the access to the digital asset to no more than 2.5% of an investor’s total net worth.

Musk said in June that Tesla would eventually start accepting payments made using Bitcoin again once the company’s energy usage is more than 50% from renewable sources. Amazon sparked speculation that it would eventually accept Bitcoin as a payment method by posting a job ad for a product lead.

Other stories about the potential impact of Bitcoin on the financial system were more mixed. For instance, the Federal Reserve is considering launching its own digital currency.

In July, US President Joe Biden issued an Executive Order aimed at coordinating the federal government’s actions related to the regulation of digital assets. Although many people think regulation is a bad idea, some believe this new order could help develop the proper protections for consumers.

The rapid rise and sudden surge of the prices of cryptocurrencies can make them more prone to a crash. This usually happens when the market hits a new high. It took Bitcoin more than a decade to reach $20,000. However, it only took three weeks for its price to double.

In 2013, the year when Bitcoin first hit its high, the price of the digital currency went from $13.40 to over $1,000. Fast forward to 2021 and the price had soared by more than 700% in 12 months. Where it is heading next is equally unpredictable.

Chika Wonah Blockchain Technology: Explained

Blockchain Technology: Explained

Many financial experts believe that blockchain technology is why Bitcoin and other cryptocurrencies are becoming more popular. According to Lule Demmissie, the president of the financial firm Ally Invest, blockchain technology is a transformative technology that can transform the way people think about more than just cryptocurrencies. Blockchain technology is also expected to change the way we live our lives.

 

Even crypto skeptics believe that blockchain technology has the potential to transform the way we do business. Chris Chen, a financial advisor from Massachusetts, believes that blockchain technology will have a stronger hold on the market than Bitcoin.

 

Blockchain Defined

A blockchain is a digital form of record-keeping commonly used in cryptocurrencies such as Bitcoin. It’s also used in other applications such as financial transactions. A blockchain is a distributed ledger that multiple people can access. This record-keeping system allows users to keep track of their data across multiple computers. Unlike traditional record-keeping methods, which require a central server to store data, nodes can perform various tasks.

 

Each blockchain block is organized into groups of data or blocks. These groups are linked to each other and form a chain. Each block has its own unique code, which is known as a cryptographic hash. This unique code prevents unauthorized access to the data within the block.

 

The information stored on a blockchain is immutable, and it can’t be changed. This means that if someone tampered with the data, it wouldn’t affect the record held by other nodes. This ensures that the data is not altered for their own benefit. It’s almost impossible to reverse engineer a blockchain due to how it works. This means that it’s virtually impossible to replicate its computing power.

 

How Blockchain Is Used

For example, a consumer buys Bitcoin and sends the transaction data to the network of Bitcoin’s nodes. These nodes then approve the transaction and form a block added to the blockchain’s growing list of transactions. Since Bitcoin’s blockchain is public, anyone who owns a Bitcoin can see the details of its transactions. Its public record also allows anyone with a computer to approve transactions and record them on the network.

 

Blockchains don’t have to be public, though. A private blockchain is designed to prevent unauthorized changes and additions to the network. It can limit the number of people who can access the data on the blockchain. This type of blockchain also ensures that the data is secure. The idea of a secure, decentralized record of information has attracted the attention of various industries. It could help solve multiple issues related to record-keeping and data ownership.

 

Predictions on Future Uses of Blockchain

Blockchain technology can transform how people store and manage their information. It can provide complete certainty about the authenticity of the data they’re storing. Recent stories about celebrities and meme subjects cashing in on digital property using non-fungible tokens (NFTs) have raised concerns about the potential of blockchain technology.

 

NFTs are digital assets that can be bought and sold using blockchain. They can be verified by adding the transaction to the blockchain ledger and becoming a verifiable record of ownership. This allows sellers to verify the authenticity of digital works easily.

 

One of the most promising uses of blockchain technology is to secure the transfer of personal data. For instance, if your bank’s data was stored on a blockchain, it could be used to protect it. A blockchain can also be used to secure the transfer of financial data between different financial institutions. It can be used to ensure that the data is secure and accurate.

 

According to Chen, blockchain technology has the potential to transform almost every industry. For instance, an election could be conducted using blockchain technology to prevent unauthorized changes. Another promising use of blockchain technology is to improve the accuracy of inventory records. It could also help food producers track recalled products and avoid exploited labor practices. Its use in securing sensitive information also illustrates the advantages of blockchain technology. 

 

Cybersecurity For Nonprofits

Cybersecurity for Nonprofits

If you’re running a nonprofit organization that uses different technology platforms, it’s time to combat any cybersecurity risks. Most nonprofitable organizations use technology in the storage and dissemination of technology in an electronic way—a collection of information and preferences from donors and subscribers as well as the registration of event donators through company websites and business portfolios.

Applying the above channels in your nonprofit organization puts your data at a higher risk of being tapped by unauthorized individuals. This might also put the data of donors in danger, demoralizing the entire operation process. For the security of the users’ data, the United States launched a program that aims to offer total security to the users’ data. This contributed to the formation of the General Data Protection Regulations.

The Risks of Cybersecurity on Nonprofits

Data breaches are a major risk of cybersecurity that can cause the downfall of an entire organization. Note that most nonprofits store sensitive and protected data by the rule of law of the respective organization. When a data breach occurs in that situation, it imposes a high risk to the individual whose data is stored within the system.

This has raised an alarm across nonprofits contributing to developing a distinctive way of managing such issues. This will aid in ensuring that all of your client’s sensitive information is well kept.

The Risk Assessment Process

Assessing your data processing channel is an important way to enhance data security. This should begin by analyzing where all your data inventory is collected and stored. Consider the application of the Nonprofit Technology Network to assess the potential of the template assessment tool. The tool requires to be fed with detailed information regarding the data as the program develops.

Also, it is vital to check if there is data that your organization keeps and it’s not of any assistance. This can force you to limit the amount of data you collect from individuals or eliminate a particular type of data. This will contribute to the proper management of data and efficiency in the organization’s operations.

Cybersecurity has become a rampant aspect within the past few years. Developing a distinctive way of handling this matter places nonprofit organizations on a better side.

Cybersecurity Terms To Understand

Cybersecurity Terms to Understand

If you use the internet, then you need to know about cybersecurity. Cybersecurity is how we keep our information safe and secure online. From your personal email address to your bank account, from your credit card number to your social media passwords – it all needs a layer of protection against hackers and malicious software. Security is an ongoing process; one can never be too careful when it comes to privacy or the security of others. Here are some basic terms related to cybersecurity that you may find helpful in understanding this topic:

A firewall

A firewall is software that protects the security of your computer or network. Firewalls prevent outsiders from accessing private data and networks and keep internal users from accessing unauthorized sites. A firewall can be programmed with different levels of permissions depending on who needs access. It is usually possible to temporarily override a firewall’s restrictions for a limited amount of time.

Password

A password is a word or phrase used to authenticate access to data, devices, and buildings. Passwords are widely used in computer networks because they are relatively easy to implement and can be revoked. They are also harder for someone else to find out than other types of credentials like biometrics. However, passwords are vulnerable to hacking if they are not sufficiently complex.

Authentication

Authentication is validation that an individual can be trusted or that a computer system or network is secure and functioning properly. The authentication process involves the validating party evaluating something the subject brings with them to verify their identity. In computer systems, rather than something physical, a subject is authenticated through passwords or keys.

Data encryption

Data encryption is a process that drives home security by making data unreadable to anyone without authorized access. Encrypting data renders it meaningless to unauthorized users who might intercept it and try to read the contents. Encryption involves using algorithms and cryptographic keys to make data files unreadable.

Debugging

Debugging is checking and fixing errors in computer software or hardware. It can be performed on a live system, usually for testing purposes, but sometimes also when the program is in the maintenance phase or done on a copy of the program (“dummy”) to save time and effort. Debugging is often performed by programmers during the development process.

Malware

Malware refers to any kind of software designed to disrupt computer operation, gather sensitive information from your system, or gain access to private data such as passwords or banking details. Malware is often spread through phishing emails that contain infected attachments or links to compromised websites (also referred to as a watering hole attack).

If we implement preventive measures, such as those I have listed above, we can probably avoid cyber attacks. It will be pretty difficult for hackers to access any of your personal information if you avoid risky behaviors on the internet.

Cybersecurity And Crypto How They Work Together

Cybersecurity and Crypto: How They Work Together

The relationship between cybersecurity and crypto is a complicated one. Cybersecurity protects the information that companies collect from hackers, while cryptography ensures that data remains confidential once it has been collected.

Cryptocurrency – What Is It?

Cryptocurrency, or digital currency, is the future of money. It’s an encrypted form of cash that does not rely on a centralized bank to regulate its value. Instead, it relies on encryption and mathematics for security – which are two things cybersecurity excels at!

Cryptography ensures that cryptocurrency transactions remain confidential, while cryptography also helps protect data from hackers by encrypting it with strong algorithms so only you can access your files.

They offer a decentralized global payment system without borders (no national banks needed!) that lets us send money without dealing with all those annoying fees charged by traditional financial institutions.

Cybersecurity and Cybercrime

Cybercriminals have better access to cryptocurrency because of decentralization, which makes it vulnerable to hacking. As a result, billions of dollars in cryptocurrency have been stolen or lost to hackers.

However, with the help of blockchain technology and security protocols such as two-factor authentication (also known as “multi-factor authentication”), cryptocurrency can be more secure. Blockchains are digital ledgers that record transactions in chronological order so that they cannot be modified or hacked without leaving an indelible mark on time itself! The best part about this form of cybersecurity? It’s FREE!

Cryptocurrency Exchanges

Cybercriminals have used them for money laundering, drug trafficking, and, more recently, ransomware attacks. For example, the WannaCry attack relied on a vulnerability within systems at two Russian companies which were hacked last year – they took advantage of this weakness when attackers demanded ransom payments be made in Bitcoin or Ethereum.

Cryptography – The Science of Cryptocurrency Security

When cryptography and cybersecurity work together, we can enjoy the benefits of cryptocurrency without getting hacked!

When these two fields work together, they make some really interesting things happen: in this case, cryptocurrencies like Bitcoin offer people something new. They offer a decentralized global payment system without borders (no national banks needed!) that lets us send money without dealing with all those annoying fees charged by traditional financial institutions.

Cybersecurity excels at protecting data from cybercriminals, while cryptography also helps protect our data from hackers by encrypting it with strong algorithms so only you can access your files.

Protecting Your Personal Information On Social Media

Protecting Your Personal Information on Social Media

People can use these four tips to protect their personal information on social media.

Avoid posting sensitive information

Some people use social media for everything. They send Wi-Fi passwords to their friends. They upload work-related documents to colleagues. Some people even use Facebook to communicate with their accountants during tax season. Using social media to message people is okay. However, do not use the platform as a storage space for confidential documents. Instead, use flash drives. Important issues should be resolved offline.

Use anonymized platforms

People need to question whether it is necessary to use their real name and picture online. Do the pros outweigh the cons? Things can go wrong in a security breach. Identities get stolen. People’s lives get turned upside down. Internet users should consider using Reddit and other anonymized chatrooms. People can still find out about current events on Reddit. There are insightful discussions about various topics. For example, people talk about the latest technological advancements. They also share funny cat videos. People can stay safe on the internet by using fake credentials when signing up for an account. Become anonymous in case anything happens.

Make sure to log out

People stay logged in when they are at home. It is convenient. No one likes to waste time signing in. However, staying logged in is a cybersecurity issue. What happens when someone comes over? That person can easily access the computer when the homeowner is not looking. He or she can impersonate the homeowner on social media and ask friends for strange favors. This is a disaster waiting to happen. Therefore, users should remember to log out when they are finished with their browsing session.

Adjust privacy settings

Social media users have control over the types of people that can see their content. They can let the public see everything. They can also limit viewership to friends or friends of friends. People should become familiar with privacy settings because they can affect all aspects of life. Employers check social media when they screen applicants. Universities also research social media profiles before sending out acceptance letters. People should be mindful of these things when they log in.

By taking these actions, people can navigate social media without compromising their safety.

2021 Cybersecurity Career Trends

2021 Cybersecurity Career Trends

Technology is evolving rapidly, and businesses are changing how they operate with the emergence of new technologies like artificial intelligence, cloud computing, and automation. It is creating opportunities for companies to think beyond the everyday operations and development of recent career trends. The world is relying on technology, and with this, there is a need to enhance cybersecurity. Taking up a career in cybersecurity is lucrative because it guarantees full-time employment. Let us brush over some of the emerging cybersecurity career trends this year.

Blockchain developer

Developers create innovative systems to conquer hacking, which is a common cybersecurity threat. They often operate on multiple systems and are familiar with several programming languages. It is the job of blockchain developers to ensure the security of transactions by using secure methods such as cryptography.

Network engineer

The network engineers are responsible for dealing with computer networks. Network engineers perform installations and maintenance of components such as routers and cables. In addition, these professionals monitor network configuration and installation of firewalls to prevent cybersecurity threats. The salary average is about $158,213 for this profession.

Cybersecurity project manager

It is an excellent opportunity for any cybersecurity professional seeking a leadership role. The position gives you an upper hand to manage teams. It is the job of project managers to ensure that the different targets of the project are met within the specified time. In addition, they are charged with providing cybersecurity measures after the analysts have determined the various security measures. Most cyber project managers work with large teams and a budget, so the job demands are at a higher stake.

Information security analyst

The analysts are charged with the responsibility of creating plans and strategies to prevent cyber-attacks. They protect the entire infrastructure by monitoring networks, assessing threats, and protecting them from all types of cybersecurity threats. Once they have identified a treat, they can opt to work on it or escalate the issue depending on the complexity.

Ethical hackers

It is an excellent way of learning how cybercriminals operate. They are responsible for testing out a weakness or any breach in the security system. They create preventive measures even before hacking happens. One way of getting certification is through online learning, which makes you be certified.

Final thoughts

The careers mentioned above are trends that are emerging and evolving. Some of the professions may require you to go through the education system and get the certification. More cybersecurity careers will be on the rise this year and beyond as there is an increasing demand to maintain proper data security measures.

The Importance Of Having A Vpn At Home

The Importance of Having a VPN at Home

  Anyone who’s been on the internet has heard of VPN services in the past couple of years. However, the average internet user might not truly understand the need to have a VPN. You should consider these reasons why you should start using a VPN service on your internet-connected devices.

Restricted Content

 Whether you’re using Netflix or Hulu, you can access a catalog of content that can specific to your country. This means that you could be blocked access from the movie or TV show that you want to watch while another user in a different country gets access to that content. Fortunately, a VPN service can help out with this issue.

 To solve this, a user needs to subscribe to a VPN service that offers a server in the country that their streaming content is available. From there, users can watch any restricted content as long as they are using it through their VPN service.

Public Networks

 If you need to use the internet while traveling, you might be thinking of using a public network somewhere like an airport or a coffee shop. This might seem simple enough, but you can run into intruders that are on the same network. Having intruders on the same public network as you means that you could have your details and files leaked to them as you browse the internet. Fortunately, a VPN can prevent you from these attacks.

 To protect yourself, make sure that you’ve subscribed to a VPN service before accessing your public network. You should then be able to connect to your VPN at any time to create a secured connection on both ends. With a secure connection, intruders won’t get any private details from you since packets coming from your computer and VPN network are encrypted.

Blocked Websites

 Getting past restricted streaming content can be great, but you might be wondering more about websites that are blocked in your country. In countries like China, users can go through social media websites like Twitter and YouTube without getting a blocked message. Fortunately, having a VPN lets you bypass this.

 You can bypass website restrictions on a VPN because the packets are encrypted in a way that isn’t if you are using a typical network. However, users should find out if any laws make this a criminal offense anywhere they may be living or traveling. 

The Risks Of Login Codes Sent Via Text Message

The Risks of Login Codes Sent via Text Message 

 Two-factor authentication can seem very useful for securing your essential accounts from intruders. However, more and more hackers have been getting into accounts that use text messages for two-factor authentication. Look into these reasons why you should switch over the type of two-factor authentication you operate away from text messaging.

Routing Messages

 When you’re holding your phone close to you, you might be thinking that an intruder will have to get into your phone by getting you to install malware. For the past couple of years, though, intruders have been more clever into how they get into mobile phones. They can do this by going directly to your mobile phone carrier.

 The way they do this is by first finding some personal details about you. These can be as complicated as your social security number or as simple as the address you live on. From there, they call up your phone carrier.

 Depending on the phone carrier, they can be easily convinced that you’re locked out of your mobile device, and you need your number transferred to a separate phone. Intruders can accomplish this by giving up their details and paying a small fee. If it goes successfully, an intruder will have full access to any phone calls or text messages coming your way, with no way to stop them until you’re able to call your phone carrier again. This all is why you shouldn’t ever use text messaging for your two-factor authentication.

Notifications

 Sometimes, an intruder might not even be far away to the point where they can be looking at your phone screen in public. Depending on your mobile device settings, you might have notifications popping up with security codes on any screen of your device. Intruders can come up with a plan to get a security code this way.

 For example, you might be live-streaming a game on your phone to the internet. Intruders will use this to their advantage by logging into your account online and checking your stream for when the phone notification appears. After that, they can log in to your account and do enough damage before you even have the chance to change the passwords on your accounts. Notifications are just another reason why you shouldn’t be using text messaging linked to your two-factor authentication.

2021 Cyber Security Predictions

 2021 Cyber Security Predictions

Many corporations have prioritized cyber-security amid the COVID-19 pandemic. PwC’s recent report shows that 96% of managers have changed their cyber-security techniques, and 40% of them claim that their digitization efforts have increased. Correspondingly, IDC anticipates that global security expenditure will increase by a compound annual growth rate (CAGR) of 8.1% during the 2020-2024 prediction period, reaching $174.7 billion in 2024. Similarly, Forrester’s 2021 cyber-security forecasts indicate that funding for cyber-security companies whose headquarters are outside the United States will rise by 20% in 2021. Analysis Mason also predicts that between 2019 and 2025, mobile device security will be the fastest-growing cyber-security category and will reach $13 billion with a CAGR of 17%.

 

In 2020, breaches became a challenging problem that was difficult to stop. For example, the U.S Depart of Health and Human Services (HHS) Breach Portal shows that in 2020, 436 breaches attacked healthcare organizations, affecting 17.3 million.

 

Here is a list of predictions that apprehend how cyber-security will advance in 2021:

 

1. In 2021, 55% of businesses will increase their cyber-security budget allocations, and 51% will hire more full-time cyber staff.

2. In The Next Three Years, the most dominant cyber-security technologies will be the Cloud Workload Protection Platform, Passwordless Authentication, and Posture Management. As Gartner’s Impact Radar for Security framework indicates, the Zero Trust Networking will have a significant impact within a period of one to three years.

3. Security services will be the fastest and largest growing security market sector, occupying half of the security budget meant for the 2020-2024 prediction period. The segment will also attain a CAGR of 10.5% in five years.

By 2021, cyber-security IT spending will reach a CAGR of 12% due to the drastic increase in cybercrimes, such as breaches, endpoint security attacks, phishing, and privilege access credential abuse.

  1. Intellectual Property will be cyber criminals’ target in 2021.
  2. The global cyber-security expenditure for small and medium-sized businesses will increase by 10% CAGR between 2019 and 2024, making this segment an $80 billion industry in four years.

4. Business cybersecurity spending will grow at a higher rate in four major industries- healthcare services and systems, financial and banking, technology and media, and social and public segments.

5. Improvements in AI and machine learning will contribute to 80% of devices’ capability to self-secure-and-heal, enabling IT to implement policies and remain confident that their data and devices are safe.

  • Many companies will struggle to reduce their vulnerability to cyber-attacks in 2021 and beyond.
  • Over the next five years, cyber-crime costs will increase at an annual rate of 15%, reaching $10.5 trillion per year by 2025.
  • Security vendors will continue to consolidate endpoint security in 2021.

In 2021, cybercriminals will devise new and innovative ways to attack personal devices to access corporate networks. While the COVID-19 pandemic has forced workers to work remotely, many organizations have not fully protected their employees. As a result, cyber attackers will exploit these gaps, leading to increased cybercrimes. 

 

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