The Impact of Cyber Attacks on the Banking Industry

 

There have been increasing numbers of cyber attacks reported in recent years across all industries and it is costing the United States an absolute fortune in cyber security. Obama announced that $19 billion was to be dedicated to the ongoing fight against cyber criminals, highlighting the gravity of the threat it now poses to businesses and even households.

In 2016 there were widely reported attacks on PayPal, Twitter and Spotify to name a just a few of the big companies that have been targeted. The number of cyber attacks across the world is increasing and businesses are spending more and more money in deterring the crime.

Banking Sector Most at Risk

Of course, the banking sector is one of the industries that are most at risk, given the nature of the data that they hold. This means that banks have had to dedicate significant funds on developing their digital infrastructure to strengthen their cyber security. The banking world has long been seen as a very profitable industry and for many banks that still remains to be true. Investment banking experts like Fahad Al Rajaan demonstrate that the banking sector can still be a very effective way of making money. It is therefore vital that banks are protected from cyber-attacks.

Preventing Cyber Attacks

As well as spending more on software to reduce the chances of an attack, companies now spend more on resources dedicated to preventing cyber-attacks. This means that extra IT personnel are required, extra training for all staff and more resources allocated to analyzing their cyber security and performing risk assessments.It also means that more robust policies and processes must be introduced. This can vary from developing and delivering online training for staff to raise awareness about the risks of cyber security, to employing a whole team of experts to audit the processes. It is certainly becoming a very costly affair.

Cyber attacks not only cost businesses from the initial financial sting, they are also impacted by the reputational damage that the attacks can cause for years to come. If somebody feels that their money isn’t safe with a bank, then they are likely to close their account and go to another one that they feel will protect their money better. The more publicity that a cyber attack attracts, the higher the reputational damage will be.As mentioned before, the government is committed to driving down and eventually eradicating the threat of cyber attacks. Greater cyber security laws are being ratified and harder punishments will be a deterrent for many would-be cyber criminals.

 

Finding a Solution

It is unfortunate that such huge amounts of money are being spent on cyber crime, both by the government and by businesses. Until a solution is found, it looks like this trend will continue and the threat of cyber attacks will dominate how businesses setup their IT structures and policies.

 

 

 

 

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How Using The Cloud Optimizes Productivity For Your Business

 

Cloud Solutions

Cloud solutions with mobile data capture are becoming more and more standard. Due to the decreasing cost these solutions are suitable now for ambitious owners of crafts enterprises. By a modern Cloud Optimization, many of the administrative work in the craft business can be supported in an optimal way. Because it’s not just about the time and materials sheets captured electronically on site, but also the quote can be created on a tablet computer on the customer’s site.

 

Thanks to sophisticated online / offline connection, on the tablet computer all the products and price lists are available. Therefore, any quote can be created directly at the customer’s site. Not only the quote may be sent by email to the customer immediately from the tablet computer, much more, the quote can be transferred directly on the tablet computer into an order and the customer can sign the order on the tablet computer.This way the whole procedure for the quoting and ordering can be reduced to a minimum of time and effort. Above all, the craft business wins a significant competitive advantage, once the quote can be discussed and contracted directly with the customer on the customer’s site. Since the customer is interested in swiftness and facilitation, the craftsman who can present the order for signature of the customer on the spot, will get a significantly higher conversation rate compared with the craftsman who must write and send the quote from the office.

Advantage of Online Service

Later, when job is finished at the customer’s site, the order can be converted into a time and materials sheet, necessary changes can be made and submitted to the customer for signature on the tablet computer. When the time and materials sheet is signed by the customer, invoicing can be done within a few hours.The provider going out of business is one of the many risks companies must address when considering moving their critical data into the cloud. In this case, companies now must spend resources doing the necessary due diligence in selecting an alternative cloud storage provider. Swizznet provides QuickBooks cloud hosting and Sage cloud hosting. They can help you take your business applications to the cloud.

Cloud Optimization

Cloud Optimization offers the computing service that help sellers users engage through mobile, internet and in-store channel. It is gaining immense popularity among various IT organizations to develop new business strategies and competency. It offers various services and solutions for their business enhancement. It provides infrastructure services like servers, networking, and storage space for organizational data and many more to increase the data storage capacity. It provides various IT resources and enables work platforms for the users across the globe. It is cost effective service available on the internet to reduce the manual work pressure and optimize the workloads.

Cloud Solution

By using a cloud solution, the invoicing to customers will happen by a specialized service team in a secure data center. All figures of the craftsman shall be kept up-date, which includes the entire bookkeeping and payroll. This enables monthly interim financial statements for ambitious craft shop owners. Also in the crafts enterprises, only entrepreneurs get successful, if they monitor and improve their mission-critical figures monthly.You receive a high-standard and enduring solution not only for your financial and managerial accounting but also for reporting and controlling of other crucial business areas like marketing and sales.

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Strategies To Boost SEO For Your Financial Website

Today Digital Marketing become one of the significant keys for a various platform and as time pass it will become one of the potential platforms.The internet is highly used to promote a business because most of the people are depending on the internet for every activity and hence depending on the internet for developing business is becoming very common.There are so many e-commerce websites and you can get every type of product on the internet.To seek customers towards your website the SEO of a website is a vital factor as it directly affects your business.Therefore before opting for online business practices for  SEO boosting should be considered well.

SEO management practices

There are various ways of online marketing.For better exposure of your product to get large numbers of users from across the world digital marketing will help you in a better way to take your business one step forward.To do say there are different types of practices for search engine optimization management and you can apply them to your website.Because a website is an essential component of your online promotion.Pay special attention to its design and structure and get a maximum outcome from it.Here are some tips that you must consider for boosting of the search engine optimization for your website.

Sponsored posts

Once you built a reputation of your website you will start getting endorsements for it and sponsored or guest post are part of it.To recognize your work there are chances that you will get offers for sponsored or guest posts.When you start sponsored post be sure that the content must be quality content, opinions must be honest and must be user-friendly.The most important factor is to be considered that you should only opt for sponsored posts which are well related to your website and must be informational which provide value to users.You can get more different topics through Sponsored posts to elaborate your website.Just maintain the reputation of your website while doing sponsored post by selecting post which is suitable for your site.

Social Media Practices that Help Boost SEO

 

It is important to connect or tie up with another website for boosting the SEO ranking of your website. But care should be taken while link back to other sites, don’t link back frequently without any reason because its affect your SEO traffic.because this factor is considered a malpractice in the world of SEO management.If you have a business website the ranking of the site is crucial because it is not easy to get search engines if your site did not get the consistent user through the internet.The website should be relevant to your websites with you are working with so that readers should get a related link to your website and do not feel cheated.

Get Help of expert

There may be a situation when you face difficulties or get confused about how to handle SEO traffic or website ranking. then you can take help of a professional expert.There are so many agencies which help you or provide authentic ways to manage your website and also business promotion works.Nowadays many businesses which help you to find appropriate SEO management agencies according to your need.

Conclusion

It can be concluded that To get the proper kind of practices for your business SEO management services are essential.You can manage lots of things your own by studying or searching the internet but same time kept the thing in mind that practices should be legal.

 

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The Pros & Cons Of Cryptocurrency

There has been a steady growth of interest when it comes to cryptocurrency. As it becomes more integrated into different levels of our lives, it’s no surprise that increased awareness is driving the growing financial revolution. While there are both positives and negatives to the digital currency, the truth is that there are enough big businesses and corporations looking at ways to integrate the technology and make the most of its advantages, so the notion of digital currency is not going away anytime soon.  With fluctuations in value creating an ever-changing market for bitcoins and other, less popular, examples of cryptocurrency, you may be looking at the best ways that you can take advantage of the growing market and influence of this digital powerhouse. If you’ve been looking for good investment opportunities and therefore considering investing in a cryptocurrency, or if you are simply curious how you can use it to manage your finances more securely, then you need to be aware not only of the potential benefits, but also of the negatives as well. This will give you the options with a clear view of what to expect, and will improve your chances of having a positive interaction with cryptocurrency yourself.

Con – It can be difficult to comprehend

Perhaps the most challenging obstacle in terms of large-scale adoption of the various cryptocurrency options, is that it can be a difficult subject to comprehend. The very idea of a decentralized financial system that is stored via blockchain can be challenging, especially if you’re not tech-savvy. Due to the fact that it seems occasionally incomprehensible, people are proving to be very wary taking advantage of the benefits that it can offer, and that appears to be the last hurdle that digital currency advocates will need to tackle if they want to see wider use.

Con – Challenges of market fluctuations

There are a variety ways that you can use cryptocurrencies, but the majority of people using them at the moment are simply using them as an investment. While the more eager users are using their digital currency to buy tickets to sporting events, gamble online, or even buy a house with bitcoin, most are simply waiting for the dramatic market fluctuations to work in their favor. Treating your bitcoins as you would any other commodity may be the way to initiate a more widespread understanding and trust in the new currencies.

Con – No security in case of loss

As with every emerging technology, there are those that use naivety and inexperience to scam, cheat and steal your hard-earned money. This has certainly proven to be the case with digital currencies, so it’s important to be aware of the safety risks. Treating your bitcoins as real money will get you in the right frame of mind, as you simply have to follow standard security protocol as you would with hard currency. For those using cryptocurrency to buy, sell or gamble online, simply be as careful as you would with any investment. For online casinos, look out for the old tricks updated to the digital age, and don’t trust companies that offer unrealistic bonuses, odds, and offers. With a little basic security, you can minimize your chances of making a loss that can never be returned.

Pro – Unparalleled Transparency

This is one of the major reasons why digital currency offers much more potential for societal change and accountability. While the use of cryptocurrency is anonymous, the transactions themselves are all stored on an open ledger (the blockchain). This means that the data is available to view by anyone at any time, and that’s a major boon for those wishing for a more transparent banking system. It is because of this transparency that bitcoin is considered one of the hottest topics in world currency.

Pro – Instant and 24-hour accessibility

It is possible to spend or buy wherever you are, and you don’t even need a computer to use it. Everything can be managed on your mobile device, meaning that even for those with little in the way of technology, they are still able to access their finances and make decisions in real time. This accessibility is a key feature for the adoption of bitcoin, and is being used across the world to provide opportunities for those who would previously have struggled to become online consumers.

Pro (and con) – Absolute anonymity

Having an unregulated currency that is not bound by customs adjustments and fluctuating political changes is a positive and a negative. Cryptocurrency is completely anonymous, which is great for those that value their online privacy and are wary of handing over too much of their digital data. While the additional layer of security that anonymity provides is an excellent benefit, it has also led to the inevitable adoption of the technology by the criminal fraternity. The black market and the dark web are big users of cryptocurrency, and criminals obviously value their anonymity as much as they value the ability to send vast sums of money anywhere in the world with a few taps of their phone. For more law-abiding citizens, the benefits of anonymity are many, but perhaps the most enticing is the fact that there is no chance of identity theft, and that’s of major interest to anyone looking for more secure ways to remain online safely.

Every budding technology will have a degree of uncertainty about the future, and cryptocurrency is no different. While the popularity is growing, and businesses race to keep up with growing demand for its use, it may be too early to know just how big of an impact cryptocurrency will have. As a potential financial revolution, it’s worth keeping an eye on, and maybe investing in now before interest spreads worldwide.

 

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Strategies to Boost Search Engine Optimization of your Website

Today Digital Marketing become one of the significant keys for a various platform and as time pass it will become one of the potential platforms.The internet is highly used to promote a business because most of the people are depending on the internet for every activity and hence depending on the internet for developing business is becoming very common.There are so many e-commerce websites and you can get every type of product on the internet.To seek customers towards your website the SEO of a website is a vital factor as it directly affects your business.Therefore before opting for online business practices for  SEO boosting should be considered well.

SEO management practices

There are various ways of online marketing.For better exposure of your product to get large numbers of users from across the world digital marketing will help you in a better way to take your business one step forward.To do say there are different types of practices for search engine optimization management and you can apply them to your website.Because a website is an essential component of your online promotion.Pay special attention to its design and structure and get a maximum outcome from it.Here are some tips that you must consider for boosting of the search engine optimization for your website.

Sponsored posts

Once you built a reputation of your website you will start getting endorsements for it and sponsored or guest post are part of it.To recognize your work there are chances that you will get offers for sponsored or guest posts.When you start sponsored post be sure that the content must be quality content, opinions must be honest and must be user-friendly.The most important factor is to be considered that you should only opt for sponsored posts which are well related to your website and must be informational which provide value to users.You can get more different topics through Sponsored posts to elaborate your website.Just maintain the reputation of your website while doing sponsored post by selecting post which is suitable for your site.

Tie up with Another website

It is important to connect or tie up with another website for boosting the SEO ranking of your website. But care should be taken while link back to other sites, don’t link back frequently without any reason because its affect your SEO traffic.because this factor is considered a malpractice in the world of SEO management.If you have a business website the ranking of the site is crucial because it is not easy to get search engines if your site did not get the consistent user through the internet.The website should be relevant to your websites with you are working with so that readers should get a related link to your website and do not feel cheated.

Get Help of expert

There may be a situation when you face difficulties or get confused about how to handle SEO traffic or website ranking. then you can take help of a professional expert.There are so many agencies which help you or provide authentic ways to manage your website and also business promotion works.Nowadays many businesses which help you to find appropriate SEO management agencies according to your need.

Conclusion

It can be concluded that To get the proper kind of practices for your business SEO management services are essential.You can manage lots of things your own by studying or searching the internet but same time kept the thing in mind that practices should be legal.

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Predictive Heatmap and How It Influences the Work of Graphic Designers

Graphics and Visual Heat Mapping for Finance

Well! Graphics Designing has always been a creative and imaginative job. It might have many aspects, but the only goal of a designer is to provide such designs that tempt the user to indulge in it. Throughout much of the designing history, graphic designers have relied merely on experience, gut feeling and real human visual to decide which part of their design requires more attention and which one requires less. Until very recently, the case had been more or less the same when companies like Attention Wizard and Israeli Feng- GUI (GUI stands for Graphic User Interface) introduced an algorithm that calculates which part of the design is more relevant (where eyes provide higher attention) and which one is less, thus decreasing load from the graphic designers in imagining the parts to put emphasis on their design.

The algorithm is primarily helpful in analyzing the first impression of a design from the user/ viewer. This is probably the most promising innovation in the design world. The advent of this technology is yet another milestone in a way to AI (Artificial intelligence) and Machine Learning technology.

What is heatmap exactly?

WIKIPEDIA DEFINES A HEATMAP as a graphical representation of data where the individual values contained in a matrix are represented as colors. Color coding is then used to conclude; e.g., red indicates high temperature and blue indicates low. A similar method is used by Feng-GUI, where colors meant to represent high temperature indicate high eye attention and vice versa. Feng- GUI uses an algorithm to simulate real user.

Aspects of predictive heat mapping technology

Attention heatmap-This is a mixture of primarily two elements, the first one is eye gazing. In this, the sequence of fast and unconscious eye movements (known as saccades) is simulated which happens as the eye scans through the graphic design. The second one is predictive heatmapping. The received information is then mapped with different colors in the same fashion as heat maps. In this, more attention is considered more heat and vice versa.

Factors Considered– THE ALGORITHM OF FENG-GUI is based on periodic themes which are tracked by eye tracking devices. The significant factors considered in the procedure are color (color of the text, background, or even the slabs), orientation and curve, size and weight, density and contrast, intensity, intersection and curve, length and width, and closure.

User interfaceThese companies provide a nice interface which is easy to use. What a person has to do is to upload the graphic design, web page, advertisement, or anything that is to be examined for the heat map. The algorithm is already provided with some eye gazing results to get data about fields where an average eye focuses on. Once uploaded, the algorithm analyses different aspects of the design as mentioned in the factors considered segment and measures it to the already provided data. After the proper amalgamation of both the data, it produces a result that shows which part would be viewed with more attention and vice versa by drawing heat maps.

The inference is drawing from the result-There can be some inferences that can be drawn from the results, but in a basic sense there are only two significant conclusions. In the first case, when a scattered heatmap and busy eye gaze path is produced, it implies that the graphic design fails to prioritize the sections according to the importance and might leads to confusion which further makes the path to the failure of the design. Contrary to that, relatively simpler eye gaze paths along with a few clear hotspots particularly centered on the desired areas imply that the graphic design will be highly efficient.

Potential of the technology and market

According to Mr.Jacob Nielsen, as the technology develops and cost of eye tracking devices come down, the technology might be a new revolution. There are several factors to be analyzed to realize its real potential.

Cost – At present, new eye-tracking device costs somewhere around $40,000 to $60,000 and rental prices can go up to $3,000 per day.

Efficiency – On another note, the dependability (accuracy) of such devices at present are from 60%-70% which is set to increase in future.

Amalgamation with other sectors of technology– The technology has potential to be introduced to artificial intelligence sector by which we might be able to get designs made by computers itself.

For quality graphic designing services one can get in touch with the PROFIT SURGE SEO KANSAS City. They have a core team of experts who can take care of all the aspects of digital marketing. Graphic designing is a part of successful digital marketing. You can expect to get a complete package for your website requirements.

You can read our other blogs on the web and graphic designing which were written by expert bloggers!

March 18, 2018 at 6:47am
A TRIO OF MUST-HAVE GADGETS FOR INVESTORS Whether you’re a newbie to the world of investing or have been dabbling in the stock market for some time, you likely find yourself checking your portfolio at least once a day; after all, you want to find out if your making money, #stocks, https://t.co/anQ6rFVEiG


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The Different Type and Versions of USB Ports That You Must Know About

We all use a computer, including desktop, laptop and Smartphone devices. We cannot live without computers these days. We are surrounded by many sorts of computing devices that intend to make our lives easier, comfortable and enjoyable. As we use these devices frequently, knowing a few technical aspects of them is essential as well as effective. Knowing these technical things will help you to fetch more convenience. For example, we all use to connect the external flash drive to our computer through the USB port. But, we have limited knowledge of such ports. Mainly, we shall discuss on different kinds of USB ports in the following section.

Recently, we have come across the news that MacBook Pro has introduced USB-C port. This addition is considered as significant by tech gurus or experts. Nowadays, it is said that USB-C or USB 3.1 is the future for USB based devices and flash drives. However, it is essential for users to understand about USB-C port. Why is it named in this way? How can it help? Why is it considered as the future?

USB-C Is Not New Concept

It has to be stated that USB-C is not at all a new concept. In fact, this is a known thing for a long time, though the use of such ports has been noted to be limited. As MacBook Pro has introduced this port, it has gained significant recognition these days. This port is different from USB 1.1, USB 2.0 and USB 3.0. USB-C port has often been compared to micro USB or mini USB port. However, the crucial thing is that both ends of USB 3.1 cable are identical. For miniUSB, this is not the case. Both ends are not similar. Thus, USB-C is an excellent replacement for miniUSB, especially where small USB port is required at both ends. Apart from these, OTHER TYPES OF CABLES, lIKE HDMIUSB.OTG

USB Versions

So far, we have seen different USB versions. In the following section, those versions will be analyzed.

  • USB 1.1: Technically, USB 1.0 was the first USB type though this type did never make out commercial appearance. This is why USB 1.1 is considered as first USB type.
  • USB 2.0: The first USB type was soon replaced by the second USB type which is known as USB 2.0.
  • USB 3.0: Gradually, USB 2.0 was replaced by USB 3.0. The similarity between these versions is that both ends of the cable are not the same.
  • USB 3.1: With USB 3.1, a drawback mentioned above has been meticulously overcome. Now, users have a USB cable that has similar or identical ends. This type of USB is also considered as effective for connecting flash drives to Smartphone. They are also known to be fast regarding performance. They offer excellent connectivity.

USB Type C cable is available in the marketplace quite easily. You can consider purchasing them online as well. It is easy to get them online from various reputed online based sellers. Find branded products and order them online easily.

March 18, 2018 at 6:47am
A TRIO OF MUST-HAVE GADGETS FOR INVESTORS Whether you’re a newbie to the world of investing or have been dabbling in the stock market for some time, you likely find yourself checking your portfolio at least once a day; after all, you want to find out if your making money, #stocks, https://t.co/anQ6rFVEiG


Checkout Unique Finance and get a bonus from me.

THE FUTURE OF CREDIT WITH BLOCKCHAIN TECHNOLOGY

 

 

Crypto Credit Cards

The cryptocurrency has taken the world by storm, as it has finally shaded its fringe idea reputation and is now among the most hotly sought-after commodities in the world. Due to the industry’s wild successes this year, which has seen the industry multiply over 10 times in value this year, people are trooping into the industry in their millions seeking to be part of this gold rush.

And although the ways of acquiring cryptocurrencies has become exceptionally simpler over the years with most exchanges now accepting credit card payments, there are a significant section of investors who don’t wish to pay the astronomical amounts cryptocurrencies such as Bitcoin are currently priced at. This naturally sends these groups of investors into the only other way of acquiring cryptocurrencies which is mining. And true to its rise, mining some of the more valuable cryptocurrencies is become more and more out of the reach private individuals, due to their capital and energy intensive nature.

But like every other obstacles there are solutions that have been made to circumvent them. Investor’s and cryptocurrency enthusiasts around the world now use what is known as cloud mining in order to still participate in the mining of their desired cryptocurrencies without having to make investments in the hundreds of thousands of dollars to set up industrial  scale mining operations. Although there are a lot of cloud mining operations that are labeled as Ponzi schemes, but the industry is rapidly maturing and has some reputable and innovative ones like Miner Gate which seeks to take the cloud mining to new heights. Some of the great benefits that cloud mining offers the user include:

Simultaneous Mining

Most people who take on the mining industry by themselves do so by concentrating on a single cryptocurrency at a time to maximize the usability of their computing power (also known s hashing power). This is quite limiting as cloud mining operations offer the user the chance to maximize the use of their hashing power by mining for several cryptocurrencies at the same time which is also beneficial as far as spreading the miner’s risks are concerned.

Smart Mining Operations

To take this great innovation to another level, cloud mining service providers such as Miner Gate have another cool feature up their sleeve where by the users’ mining rig automatically focuses on mining the cryptocurrency with the most value among the multiple mining options offered. This is done by calculating the value of the cryptocurrency against the power needed to mine it. Users are of course not forced to use this feature as they can switch it off at any time of their choosing.

Small Scale Profitability

Cryptocurrency mining operations especially that of Bitcoin have the reputation of being too expensive and often small scale mining operations tend to make heavy losses as the cost of maintaining the mine is significantly higher than the reward obtained at the end of the day. And this is where Cloud Mining pools work their magic for potential miners, as they allow multiple small scale mining operations to pool their resources and mine as a single entity. Any reward gotten at the end of the day is distributed among the participating miners according to the amount of hashing power they contributed to the operation.

 

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How To Utilize Cryptocurrency In Your Business

 

Cryptocurrency, quite simply, is changing the financial face of businesses and even individuals. It is the revolution in the way we perform transactions, invest and raise capital. It is replacing the need for physical money, and in some cases, it is replacing the need for banks and high-interest loans. Therefore, as more and more of us turn digital, what does this mean for the financial future in the world of business? Below we delve into the world of cryptocurrency.

Blockchain & Bitcoin

The rise of cryptocurrency has allowed new, innovative internet technology known as ‘Blockchain’ to develop. This breakthrough technology was originally created for bitcoin transactions, as it cleverly lets digital information be transferred and distributed, but not copied. It means that when businesses and individuals trade using bitcoins, they can use the digital Blockchain virtual currency exchange. The database is a public ledger which has no location and isn’t stored in one place. Therefore, it is easily accessed by the public, and a hacker cannot corrupt the files as millions of computers are hosting it. Bitcoin, on the other hand, is a digital cryptocurrency which can be used to pay for items electronically through a peer-to-peer network.

The Advantages

Cryptocurrency may be the newest digital financial trend but why are more businesses turning to this method?

  • Investment Opportunities: When you are looking to expand and grow your business, bitcoins pose the perfect investment opportunities for fellow startups and established companies. Bitcoin is often referred to as ‘digital gold,’ which means that the value has steadily risen in recent years. The total value of all bitcoin ranges into billions, and at the end of April 2017, the price per bitcoin was a record high of $1,343.
  • No Banks: As mentioned above, bitcoin is a peer-to-peer network, which means that any transactions aren’t processed through banks. It allows payments to be processed much quicker and in one currency. It means for your business that you can raise capital quicker and cheaper and it cuts out the drawn-out process of visiting banks for loans.
  • Anonymous Transactions: Bitcoins are stored in a digital wallet, and when you trade using your wallet, all that is revealed to the vendor is your wallet ID. This protects your identity, your business identity, and the vendor’s identity.
  • International Payments: As it is one centralized currency, bitcoin means you don’t have to worry about exchange rates when you are trading and buying Bitcoins feature no credit card fees, and they aren’t tied to any current regulations. You also don’t need to wait for payments as they are instant.
  • Easy To Use: Unlike having to visit a bank to transfer money, with using the digital wallet, you can transfer easily using your computer or an app on your device. There are even complex puzzles you can complete to “mine” bitcoins which are growing in popularity. On average, every 10 minutes, the winner of the puzzle is awarded5 bitcoins.

The Downside

As with every piece of technology, cryptocurrency does come with its fair share of downsides.

  • No Regulations: As mentioned, currently bitcoins and other forms of cryptocurrency aren’t imposed by regulations within countries. It means that the threat of fraud and price manipulation is significantly higher than with traditional currency. Without regulations, it has also meant that investors are using the money they don’t possess to gamble on bitcoins. Financial investors have called upon governments to impose regulations, but the absence is a large reason why investors turn to cryptocurrency. However, there are governments across the globe considering regulating their countries bitcoin markets.
  • Cybersecurity: Unfortunately, using a digital wallet means you aren’t only not insured by FDIC, but hackers and cyber threats can be present. The cryptocurrency market is hosting on a vast number of computers, which means there isn’t one central location where you can use anti-virus and anti-malware protection.  
  • Anonymity: While keeping your identity private can be an advantage, cryptocurrency has become the chosen transaction method for those using it for illicit purchases, such as buying drugs online. The anonymity means transactions cannot be traced back to the individual, which in future police cases, may pose an important issue.
  • Uncertain Future: Cryptocurrency may be highly popular at this However, no one can be sure whether it will rise in popularity or it will crash and burn. It means that investment businesses choose may fall foul and lose valuable money. On the other hand, it also has the scope to become the currency of choice in years to come.

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Telegram Founder: Crypto Mining Malware Not An App Flaw

 

 

There was a report by  that the attackers had discovered an exposed backdoor in Telegram Messenger, this vulnerability helped the attackers unknown to the owners turn computers into cryptocurrency miners.

These clandestine crypto mining operations had been going on since March 2017 reported Kaspersky Labs, the company that discovered and exposed the cyber attacks. Kaspersky also said a zero-day vulnerability in the Telegram messenger desktop app gave the attackers the ability to create and spread a never before seen the type of malware that could create a backdoor Trojan and also mine cryptocurrency.

 

A Kaspersky lab analyst said they had found quite a number of possible actions of the zero-day exploitation which asides from being spyware and malware, could also send unknown and unseen software for mining cryptocurrency, and that infections like that had become a global phenomenon.

Here is a little insight into the operation of the Telegram vulnerability; there is a way the Telegram Windows client deals with the RLO (right-to-left override) Unicode character (U+202E), in that process lays the vulnerability. However, that RLO Unicode Character is how languages are written from right to left (like Hebrew or Arabic) are coded. Kaspersky’s report states that a hidden RLO Unicode Character contained in the file name that flipped how the characters were ordered, thereby giving the file a new name was how the malware creators got access to computers. Like in this example, an attacker names a file “IMG_high_re*U+202E*gnp.js” and sends to someone using the Telegram messenger, the file seen at the User’s end will be “IMG_high_resj.png” (notice how a flip has happened to the file format), the user then clicks on the file thinking it is a picture file, then a JavaScript file containing the malware would be secretly downloaded.

                                                 Founder of Telegram

 

However, the founder of the Telegram application did not waste time in deemphasizing the allegations. He is of the opinion that antivirus companies always do the most at stretching the severity of their results, just to excite the public, and as such, should not be taken seriously. He also rebuffed Kaspersky’s claim by explaining that what they uncovered was nothing near a vulnerability of the Telegram messaging app, and also that there was no way cybercriminals could gain access to users’ computers without the users opening something malicious. He further assured Telegram users that they were safe and had always been safe.

According to Kaspersky, Fantomcoin, Monero, Zcash and other cryptocurrencies were acquired, and according to the evidence they had, Russians were behind the malware, and also that it could be used as a backdoor for hackers to gain access and silent control of users’ computers. Records of a Telegram local cache which most likely was stolen from victims was found in the process of doing their analysis of malicious servers.

One sure way to guard against such attacks is to avoid downloading and opening suspicious files from untrusted and unknown sources, as that suspicious file could be a portal for attacks.

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