Cybereum Newsletter Vol-6
Tags: Blockchain, Distributed Ledgers, Megaprojects, Cybersecurity, Fintech

Blockchain — Crypto — Artificial Intelligence — Megaprojects

Photo credit: Shubham Dhage

NOTABLE DEVELOPMENTS THIS WEEK

Deloitte’s 2021 Global Blockchain Survey: A new age of digital assets

Deloitte’s 2021 Global Blockchain Survey affirms that banks should embrace their inevitable digital future. In a seismic shift, financial leaders increasingly see digital assets as the future.

Cybereum notes that banks have been experimenting and investing in startups for several years to understand this technology in order for this shift to happen. Seemingly sudden shifts often have a long preparatory period.

Cybersecurity and regulation barriers still pose the most critical gating items to digital asset acceptance. Cybereum strongly feels that there will be a continued lag of adaption to digital assets and currency until these significant items are addressed. In addition to cybersecurity and regulations, financial infrastructure, privacy, and secondary markets prove to be impactful to early adaption.

Read Deloitte’s report here, or download the survey here.

CYBEREUM

Cybereum Patent: DAG Hash-Linked Networks

DAG is at the cutting edge of technology and is often referred to as the 3rd generation of blockchain. Our patent is a foundation method in this space to write out DAGs as hash-linked networks.

Link to the new cybereum patent: System and Method for Directed Acyclic Graph (DAG) Encoding into Hash Linked Blocks here.

The ‘Joker’ Virus Has Returned to Android: It Can Empty Your Bank Accounts Without You Noticing It and It Is Hidden in These Apps in the Google Play Store

The Belgian Police warned about the return of the ‘Joker’ virus, which attacks Android devices and hides in various applications on the Google Play Store. This malware can subscribe the user to payment services without their authorization and empty their bank accounts without them noticing. “This malicious program has been detected in eight Play Store applications that Google has suppressed,” said the Belgian authorities in a statement published this Friday on their website.

Read the story and see what apps you might have that are infected here.

AROUND THE GLOBE

38M Records Were Exposed Online — Including Contact-Tracing Info: Misconfigured Power Apps from Microsoft led to more than a thousand web apps accessible to anyone who found them.

MORE THAN A thousand web apps mistakenly exposed 38 million records on the open internet, including data from a number of Covid-19 contact tracing platforms, vaccination sign-ups, job application portals, and employee databases. The data included a range of sensitive information, from people’s phone numbers and home addresses to social security numbers and Covid-19 vaccination status.

The incident affected major companies and organizations, including American Airlines, Ford, the transportation and logistics company J.B. Hunt, the Maryland Department of Health, the New York City Municipal Transportation Authority, and New York City public schools. And while the data exposures have since been addressed, they show how one bad configuration setting in a popular platform can have far-reaching consequences. — Lily Hay Newman — WIRED

Cybereum notes that Wallet Apps which store keys are one of the weak links in blockchain implementations. Even if the cryptography is uncrackable, the ability to obtain private keys can bypass it. We discuss this at length in our article warning of the dangers of blockchain technology here.

Read about the data breach from WIRED here.