The concept involves creating a blockchain with tiers and partitions, on which central banks perform the same current role dealing with commercial banks. On the same ledger, commercial banks and emoney providers perform similar activities as they do now with their clients. Given this is how things work today and most legislation is technology agnostic, it likely wouldn’t require legislative changes and may dispense with the need for CBDCs. In Mclaughlin’s view, the debates around central bank digital currency (CBDC) frame the conversation as public versus private money. An alternative perspective is to look at regulated versus unregulated money. The concept also addresses bank coins or settlement tokens. “If we as commercial banks think that the right thing to do is for each of us to create our own coins, again, the regulated sector will be fragmented. And that will not help in the contest between regulated money and non-regulated money,” said Mclaughlin. Central bank money, commercial bank money and emoney are all regulated and represent specific legal liabilities, no matter their technical form.
The key to quantum computing is that, during the computation, you must avoid revealing what information your qubits encode: If you look at a bit and say that it holds a 1 or a 0, it becomes merely a classical bit. So you must shield your qubits from anything that could inadvertently reveal their value. (More strictly, decide their value — for in quantum mechanics this only happens when the value is measured.) You need to stop such information from leaking out into the environment. That leakage corresponds to a process called quantum decoherence. The aim is to carry out quantum computing before decoherence can take place, since it will corrupt the qubits with random errors that will destroy the computation. Current quantum computers typically suppress decoherence by isolating the qubits from their environment as well as possible. The trouble is, as the number of qubits multiplies, this isolation becomes extremely hard to maintain: Decoherence is bound to happen, and errors creep in.
The vulnerabilities were detected in iPhone wallets where Visa cards were set up in "express transit mode," the researchers say. The transit mode feature, launched in May 2019, enables commuters to make contactless mobile payments without fingerprint authentication. Threat actors can use the vulnerability to bypass the Apple Pay lock screen and illicitly make payments using a Visa card from a locked iPhone to any contactless Europay, Mastercard and Visa - or EMV - reader, for any amount, without user authorization, the researchers say. Information Security Media Group could not immediately ascertain the number of users affected by this vulnerability. "The weakness lies in the Apple Pay and Visa systems working together and does not affect other combinations, such as Mastercard in iPhones, or Visa on Samsung Pay," the researchers note. The researchers, who come from the University of Birmingham’s School of Computer Science and the University of Surrey’s Department of Computer Science, found the flaw as part of a project dubbed TimeTrust.
Whilst the collection of fingerprint data is very convenient for the border control forces, how convenient is it for the asylum seekers themselves? Could they be opening themselves up to greater risks by providing their data? A potential issue here is the amount of trust that people place in fingerprints. People assume that fingerprints are an infallible method of identification. Whilst the chance of two people having matching fingerprints is infinitesimally small, automated matching systems often do not make use of the entire fingerprint. Different levels of detail can be used in matching, with differing levels of reliability. When asked to provide your fingerprints for identification purposes, how often do we consider how the matching is performed? Whilst standards exist for the robustness of fingerprint matching when used within the Criminal Justice System, can we assume that the same standards apply to border control systems? Generally, the fewer comparison points to be analyzed, the faster the matching system; in a border control situation where a large quantity of people are being processed, it is important to understand how much of a trade-off between speed and accuracy has occurred.
The current assessments found that the growing number of public incidents of ransomware attacks and attacks on the software supply chain, such as the compromise of remote management software maker Kaseya, have companies more focused on activities designed to prevent or mitigate incidents. Over the past two years, 61% more companies have actively sought to identify open source — 74 this year versus 46 two years ago — while 55 companies have begun to mandate boilerplate software license agreements, an increase of 57% compared with two years ago. "Over the last 18 months, organizations experienced a massive acceleration of digital transformation initiatives," said Mike Ware, information security principal at Navy Federal Credit Union, a member organization of the BSIMM community, in a statement. "Given the complexity and pace of these changes, it's never been more important for security teams to have the tools which allow them to understand where they stand and have a reference for where they should pivot next."
Quote for the day:
"Leaders must see the dream in their mind before they will accomplish the dream with their team." -- Orrin Woodward