Cybercriminals Are Building an Army of Things Creating a Tipping Point for Cybersecurity
Cybercrime is big business, and is growing at an exponential rate. British insurer Lloyd’s of London estimated the cybercrime market at $400 Billion in 2015. Today, just two years later, the World Economic Forum estimates that the total economic cost of cybercrime to currently be $3 trillion. And Cybersecurity Ventures is predicting that cybercrime will cost the world in excess of $6 trillion annually by 2021.
Blockchain and Financial System Impact
Blockchain is a technology that basically distributes a ledger. For those of you in the financial management world, you know a ledger as the trusted source of transactions or facts. The same is true with blockchain. But instead of existing in a large leather bound tome or in a financial management application, blockchains are managed by a distributed set of computing resources working together to maintain that ledger.