What Is A Blockchain Wallet & How Does It Work?
Blockchain wallet is digital software that runs on a blockchain and which stores
private and public keys as well as monitors and keeps all the transactions
related to those keys on a blockchain. Ideally, a blockchain wallet does not
store crypto rather all the records relating to these keys are stored on the
blockchain on which the wallet is hosted. What it means is that the wallet
provides an ID to enable the tracking of all transactions associated with that
ID. The blockchain ID is the blockchain wallet address, which is associated with
the public key and the private key. Practically speaking, blockchain wallets
allow users to store, send, receive, and manage their digital assets on the
blockchain. ... Modern crypto wallets come with integrated APIs to
pull data from other platforms. Others can pull data to allow doing charting and
crypto market analysis to enable a user to make trading decisions for
cryptocurrencies profitably; social features to allow emailing and chatting with
other users online or posting status as well as following and copying their
trading practices; and transaction tracking including reading history, prices
for various cryptos.
Bipartisan US Senate Bill Eyes Cryptomining Oversight
As part of the bill, the Treasury Department would quantify the amount of
cryptocurrency mined in the U.S. - and in nations such as China - since 2016.
"In order to strengthen U.S. competitiveness, our government must get a better
handle on the role that cryptocurrency is playing in the global economy and how
it is being leveraged by other countries," Hassan said. Michael Fasanello, who
has served in various roles within the U.S. Justice and Treasury departments,
including for Treasury's Financial Crimes Enforcement Network, or FinCEN, tells
Information Security Media Group that the move "is liable to tax department
resources at a time when they ought to be focusing on collaborating with
Congress and private industry on appropriately scoped compliance regulation to
protect the crypto ecosystem from illicit actors, while … encouraging
innovation." Conversely, Neil Jones, a cybersecurity evangelist for the firm
Egnyte, tells ISMG, "[This] bipartisan legislation is a breath of fresh air for
the cybersecurity industry. ..."
Strategic Planning in the Agile Era
In a world of constant flux, leaders must create strategies that are able to
flex and adapt as necessary. As Crawford said, everything starts by leaders
creating “a strategy that can evolve over time. Today’s business strategies
should anticipate forward looking possibilities. Executing changes need to be
nimbler and more responsive.” This means organizations need “to have resource
time dedicated to constantly scanning of market and innovation opportunities.
You can't respond or get out in front without ensuring people have this as
part of their role,” said Young. Organizations clearly need to put in place
agile systems and processes that allow let them to not only adapt more quickly
but to take stock of the big picture so they can make more informed and
strategic decisions. CIO David Seidl’s organization has effectively created a
seed fund “with a $50 million investment to do new things, take risks and
focus on innovation and creativity. Now we're trying stuff out, learning
lessons, and doing an ever-increasing volume of cool stuff.” While the need to
take a step back and view the broader picture is clear, unfortunately, Young
said, “too many senior people get sucked into operations or day-day project
activities.
Virtual Panel: DevSecOps and Shifting Security Left
There certainly is ambiguity and confusion around who exactly is responsible
for securing software and the development process - in fact, we recently found
in a report that just over half (58%) of security professionals believe it is
their responsibility, while a similar number (53%) of developers believe
software security falls under their purview. It’s this lack of consensus that
is at the crux of today’s biggest cybersecurity challenge: security is not
being baked into software during the development process, which has led to
destructive cyber repercussions, as we’ve seen recently with the Kaseya,
SolarWinds, and Microsoft attacks. It’s just not possible for one team to keep
the software build process secure - we need to incentivize developers to work
with security teams from the start of development. To be clear: Developers
must become responsible and accountable for the security of the software they
build and operate. Developers are often prioritizing speed and innovation, and
security teams are left to pick up the pieces after software is built to keep
it safe from hackers.
Digital transformation: Thinking beyond the core of your business can help you grow
Many tech leaders have recounted tales of woe of companies that missed
transformational shifts in their markets, and perhaps you've referenced Kodak
or Blockbuster Video at some point in your career. With the benefit of
hindsight, it's all too easy to assume leaders at these companies had grown
fat and lazy and willfully ignored the obvious shifts happening before their
eyes. However, rather than suffering from a unique and rare collective
incompetence, these leaders diligently and dutifully focused on their core
business. They probably assumed that transformation was "above their pay
grade" or merely a question of applying some novel and interesting technology
to today's business with the assumption that they were taking care of areas
outside the core. Separating the capabilities and innovative nature of
technology from its application ensures that you regularly devote some of your
attention, initiatives, and budget to exploring areas outside your
organization's core business. You might even be able to leverage seemingly
"legacy" technologies that your organization already possesses to areas
outside the core and accelerate your company's ability to identify and create
truly transformational opportunities with today's tech and skillsets.
Blockchain: How it plays a crucial role in assessment of credit risk in borrowers?
The innovation of blockchain as technology plays an integral role in
alleviating the challenges of the traditional lending process mainly in the
verification of identities. On the contrary, blockchain is based on
distributed ledger technology that decentralises and secures the customers’
data. Simply, it works by keeping the customer data in a distributed ledger
instead of centralised storage that also reduces cyber-crime risks. Given the
blockchain infrastructure, the profiling of customers becomes accurate, secure
and private. Furthermore, all network participants get access to information
and record of transactions without affecting the customers’ privacy. The
technology of distributed ledger eliminates duplication of record maintenance
resulting in the reduction of cost and time involved in the process. Moreover,
blockchain is based on immutability which means no participant can tamper with
the transaction recorded in the distributed ledger. However, if an error
occurs while maintaining the record, it needs to be added to error
reversibility which stays visible.
6G technology and taxonomy of attacks on blockchain technology
Most researchers focus only on the blockchain's characteristics or its
architecture and propose solutions to overcome some threats or recorded
attacks. Instead, the proposed solutions are targeting and enhancing the
protocols employed by the blockchain system. Perhaps, that is because the
blockchain system is not relatively simple, and it is hard to grasp or
untangled its complex architecture. However, without considering the
blockchain system's redesigning to alter furtherly, its characteristics would
make potential blockchain application's susceptible to different security
attacks. ... most of the cryptocurrency's applications share almost a
remarkably similar ecosystem, with differences in the consensus protocols.
This section focuses on the Bitcoin ecosystem, which is considered one of the
origins of the decentralized digital currency, if not the first, but the most
associated with the blockchain. Moreover, understanding the Bitcoin ecosystem
would, without doubt, set the firm basis for understanding any other existing
Blockchain-based ecosystem, let alone innovating new Blockchain-based
applications.
Analysis of Cyber Security In E-Governance Utilizing Blockchain Performance
The block chain architecture comprise of a series of block sequence that
encapsulates a total list of transactions; Example; a public ledger. In the
block chain architecture, the large block is the block header, which has six
other blocks such as parent block hash, nonce, n Bits, time stamp, merkle
tree root hash and block version. Within the block header, only one block
would be a parent block. In the block chain architecture, the initial block
is known as the genesis block, which lacks any parent block. The block chain
architecture comprise of blocks and digital signature. A block comprise of a
block body and block header as represented in the below figure. The block
header comprise of block version that represents the rules of block
validation that is to be followed. In a block, the entire transactions’ hash
value is represented in the Merkle tree root hash. The present universal
time in seconds is represented in the time stamp. A valid block’s hash value
is indicated as the target threshold in the n-bits. Nonce indicates a 4 byte
field that initiates from zero and rises for each calculation of hash.
Responsible Tech Series 2021 Part 1: exploring ethics within digital practices
AI regulations are starting to take shape, notably in the EU, but with such
measures not set to be fully enforced for another few years (implementation
of the AI Act in the EU isn’t expected until 2024), Kewley believes that
companies aren’t thinking about compliance enough. “Companies think that
they’re over the hill when it comes to privacy,” he said. “But compliance
isn’t being thought about yet, and it’s now a very real concern to be
considered.” Regarding what more can be done to ensure that regulations are
suitable globally, Duke suggested keeping track of how products embedded
with AI systems, distributed around the world from countries such as China
and the US, are designed. “We need a global framework for AI,” she
commented. “Work is being done by the US and the World Economic Forum, but
this isn’t globally standardised. This needs to be proactive.” On the
flipside, a recent survey conducted by Clifford Chance and YouGov, which had
participation across Europe and the US, found that 66% of respondents are
feeling positive about AI, and Kewley believes that positive discussions
about the technology is a step in the right direction.
5 ways leaders can boost psychological safety on teams
Psychological safety starts with the experience of belonging – one of the
most basic needs of every human being. However, it is difficult for people
to feel that they are part of a shared story if they lack visibility to the
most important discussions and decision-making processes in their
organization. To address this, I’ve found two things to be especially
effective: Sharing openly as much as you can as early as possible, even
when you feel you don’t have time; and Co-creating systems that
increase transparency in the whole organization. Both take a lot of time,
but it always pays off. I schedule weekly updates with my team and also
actively use, and invite others to use, systems we have built for improving
the flow of information. ... Belonging means not only knowing what’s going
on but also feeling close to others. While technology can help with this,
it’s not enough. Creating intimacy during these unprecedented hybrid times
can be challenging, but small things can go a long way. For example, at
Futurice we make a point of sharing our hobbies and interests when we meet
new people.
Quote for the day:
"Great leaders go forward without
stopping, remain firm without tiring and remain enthusiastic while
growing." - Reed Markham
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