Category: compliance

  • Be Digitally hack-proof

    Be Digitally hack-proof

    Why do people hack systems? Hacking is a technique used to compromise any digital device. Hackers want to get into your device to use your data for varied reasons – naturally, most of these motives are financially driven.

    A data breach is usually what leads to a hack. There is a difference even though both terms are used interchangeably.

    A data breach happens when data that is left vulnerable in an unsecured environment gets viewed by someone who shouldn’t have access to it.

    While hacks are the result of malicious behavior, breaches happen as a result of negligence, human error, or other non-malicious behavior that creates a security vulnerability.

    Hackers may access your device just to say they could or for financial gain, to protest, or to gather sensitive information.

    So what makes a hacker?

    In the past, a hacker may have been a whiz kid or specialized programmer but in the modern-day, hacking has become easier and more people are becoming hackers. As more people shop online and use computers for everyday tasks, they become the prey of hackers worldwide.

    Actual hacking is technical in nature – the hacker does not communicate with the person whose PC they are hacking into.

    But they can also use psychology to trick the user into clicking on a malicious attachment or providing personal data. These tactics are referred to as social engineering.

    Your cellphone too can be hacked

    While most associate hacking with Windows computers, the Android operating system also offers an inviting target for hackers. That means millions of people who use Samsung phones can be hacked.

    Some fifty years ago, there was a name for hackers who obsessively explored low-tech methods for getting around the secure telecommunication networks and expensive long-distance calls. they were called phreaks.

    This was a portmanteau of the words phone and freaks. They were a defined subculture in the 1970s, and their activity was called phreaking.

    Phreakers have now evolved out of the ‘analog technology era’ to become hackers in the digital world. They are beyond a sub-culture and have become a genuine threat to the safety of our information and data.

    Mobile phone hackers currently use a variety of methods to access your mobile phone and can intercept phone calls, voicemails, text messages, and even the phone’s microphone and camera, all without your permission or even knowledge.

    iPhones are not safe either

    In 2020, many journalists working for Al Jazeera were victims of a sophisticated zero-click spyware attack.

    The Toronto-based internet watchdog group Citizen Lab was asked to look into the attacks, which took place in July and August, and they released their findings at the end of December.

    The report found that 36 journalists, producers, anchors, and executives had their iPhones compromised by Pegasus spyware. The spyware, developed and sold by an Israeli-based firm called NSO Group, targets security vulnerabilities in the iMessage app.

    The so-called “zero-click” exploit deploys without any user interaction. Once installed, it can record ambient sound and phone conversations, take pictures, and access user credentials. It sounds like science fiction but it’s very much real!

    Types of hacks

    Malware

    People can use hardware to sneak malware into your PC. In offices, hackers will infiltrate networks by giving staff members infected USB sticks, dodgy USB cables, and mouse chords.

    It is crucial to always think before plugging anything into your work or personal device with access to confidential data.

    Educate your staff about being careful before plugging anything into their PCs.

    Malware infections generally occur when users interact with dangerous code by clicking on a URL or downloading malicious software disguised as an authentic program. But zero-click spyware penetrates devices without any user interaction.

    Citizen recommends making sure that your mobile OS is updated to the latest version. Identified vulnerabilities in previous versions of iOS were patched in the iOS 14 update.

    Practicing good digital hygiene is always important for the security of your mobile devices.

    Use sites like haveibeenpwned.com and breachalarm.com to see if your email credentials have been compromised. Use strong passwords on any apps that contain sensitive data and delete any apps that you do not regularly use.

    Missing security patches

    Always remember to update your security tools. Too many people ignore update notifications or security patches, leaving themselves vulnerable. It’s not just antivirus software that needs patching.

    Tell your staff to ensure that all their antivirus and applications are routinely updated as security patches become available. This task is usually the job of your IT department if you have one in the first place.

    Getting your password information

    Hackers can obtain your credentials through several means, but commonly they do so through a practice called keystroke logging or keylogging.

    Can you believe that the most common password is “123456”? Hopefully, yours isn’t so, or any of the most hacked passwords in the last 10 years.

    Through a social engineering attack, you could accidentally download software that records your keystrokes, saving your usernames and passwords as you enter them.

    This and other forms of spyware are malware that tracks your activity until a hacker has what they need to break into your system.

    Attackers can deploy malware on a user’s machine if they are in your environment and capture your credentials via keylogging too.

    Hackers also use password cracking programs that can run letter and character combinations, guessing passwords in a matter of minutes, or even seconds.

    To get around this, use a password management tool that securely houses your company’s credentials. These tools can often auto-generate lengthy, diverse character passwords that are difficult for hackers to guess. They can also autofill for your employees for easy access to their tools.

    Encryption and multi-factor authentication methods also offer more layers of protection.

    Distributed Denial-of-Service (DDoS)

    Acunetix

    This technique involves taking down a website so that a user cannot access it or deliver their service. DoS attacks take place when hackers inundate a target’s server with large influxes of traffic. The amount is so frequent and high that it overloads the server by giving it more requests than it can handle. This crashes your server and your company’s website.

    Larger businesses can get hit by a Distributed Denial of Service (DDoS) attack, which is a synchronized attack on more than one server or website, potentially taking down numerous online assets. 

    A good method to fight DDoS attacks is to use cloud protection services to spot them – like Acunetix or Netsparker.

    Social Engineering & Phishing

    This is where hackers try to get your personal information, often by impersonating a legitimate and maybe trusted source.

    Many types of social engineering bait come in the form of phishing emails.

    A hacker sends you a message that looks like it’s from someone you know, asking you to do something, like wire them money, or to click or download an infected attachment to see more. 

    Here is a hilarious example of a phishing Email

    “The top malicious email attachment types are .doc and .dot which make up 37%. The next highest is .exe at 19.5%,” according to a report by Symantec. Always be cautious of opening these types of attachments.

    Warn your employees to never give out private business information over email, to think before opening any attachments, and educate them on mail scams.

    Use email software that scans for phishing. Microsoft 365 and Google’s Business packages come equipped with such. Google’s tech uses AI to scan the content and find things such as spelling errors and dodgy URLs. This enables the system to block them before they even hit your inbox.

    Most people or companies that get hacked or suffer from a data breach do so mainly due to negligence. Many do not prioritize beefing up their security systems before it is too late. Hacks are, however, completely avoidable so don’t fall victim to them.

    Other ways to protect yourself

    • Download a reliable anti-malware product that can both detect and neutralize malware and block connections to malicious phishing websites.
    • Of course, whether you are on Windows, Android, a Mac, an iPhone, or in a business network, you must always use layered protection wherever you can.
    • Only download phone apps from the legitimate marketplaces that police themselves for malware-carrying apps, such as Google Play and the Apple/Amazon Appstore.
    • Check the ratings and reviews first. If it has a low rating and barely any downloads, it might be best to avoid that app.
    • Use long and complex passwords. Don’t use numbers in sequence. You can also use mixes of letters that can be remembered through rhymes.
    • Consider using a password manager.
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  • Technology contained

    Technology contained

    Over the past decade container technology has become a popular method for packaging applications in an effective way. Some developers believe is better than that offered by virtual machines and other technologies.

    Container technology has been embraced by the big cloud computing providers including Microsoft Azure, Amazon Web Services, and Google’s Cloud platform.


    Examples of the actual container software include the Apache Mesos, Docker, rkt (pronounced rocket), and Kubernetes.

    But what is container technology?

    Logically, it gets its name from shipping. Shipping containers standardize how goods are moved around. Goods get placed in steel shipping containers which can be picked up by cranes and fit into ships. They tend to have standard sizes.

    By standardizing the process and keeping the items together, your container can be moved as a unit and it costs less to do it this way.


    In computer terms, container technology is referred to as just a container: a method to package your applications so they can be run, with their dependencies, isolated from other processes.

    Container technology decreases the potential for problems when developers move programs from server to server before the program is in a state where it is saleable.

    When you use container technology to create an application, you can code everything using just one operating system and database. This makes the application quite easy to replicate as resources including memory and the central processing unit (CPU) are shared. This also makes your technology great for scaling and for working within the cloud.

    Out with the old…

    If you don’t use container technology, you can have a situation where a program runs well on one machine but has problems on your server. This common problem occurs when you move a program from a data server to a cloud server.

    Many issues can happen because of variations in machine environments. These include differences between your operating system, secure sockets layer libraries, storage, and network topology.

    So, computer container technology picks up all of your software and related parts which include dependencies, being libraries, binaries, and configuration files. They all get migrated as a unit, avoiding the differences between machines including operating system differences. This will also include underlying hardware that leads to incompatibilities and crashes.

    web scanner

    And, importantly, containers also facilitate the deployment of your software to your server. Advocates of using container technology say it is a much better tech to use than that which preceded it – virtual machines.

    In this case, one physical server would be used for multiple applications through visualization technology. Each virtual machine contains the entire operating system, as well as the application to run.

    The physical server then runs several virtual machines, each with its own operating system, with a single hypervisor emulation layer on top. By running several operating systems simultaneously, you incur a lot of overheads on your server as resources get used.

    …and in with the new

    Container technology allows your server to run a single operating system because each container can share that system.

    The parts of your operating system that are shared are read-only to not interfere with the other containers. Therefore, compared with virtual machines, containers require fewer resources of the server, and are much more efficient.

    You can pack many more containers onto a single server. Each virtual machine may require you to have gigabytes of storage. But each container running a similar program may only need megabytes.

    How do the containers operate?

    Containers are set up in an architecture known as a container cluster. Then, in a container cluster, there is a single cluster master, with the other related containers set as nodes, that are your multiple worker machines. The cluster master schedules the workloads for your nodes, and also to manage their lifecycle, and their upgrades.

    Containers allow programs to be broken down into smaller pieces, which are known as microservices.

    A major advantage of having a program as component microservices is that different teams can work on each of the containers separately as long as the interactions between the different containers are maintained. This facilitates faster software development.

    Containers are also flexible and can be orchestrated. Since the operating system would be already running your server, a container can be started and stopped in just a few seconds.

    Some containers within architecture can be turned on during peak demand, and turned down when not needed.
    The software can control this type of orchestration, and distribute the tasks among the container cluster.

    The way forward with the tech

    But is container technology overrated? Some people are concerned about the security around it.

    Because multiple containers share the same operating system, there are growing concerns that container technology is less secure than virtual machines. If there is a security flaw in your host kernel it will affect your multiple containers.

    Other software is being used to have more secure container technology. The use of isolated containers is, therefore, being constantly improved.

  • Banking on Crypto

    Banking on Crypto

    The world is slowly realizing that it needs to rely less on old systems in order to manage its way out of financial crises. One of the oldest systems which saw the US dollar as the vehicular currency of the world may be slowly coming to an end.

    Enter the Bitcoin: the brainchild of cryptocurrency, a means of exchange that is less regulated and which is built on the Blockchain, a technology that is supposedly difficult to hack into.

    A quick recap for those of you not familiar with the tech: A Bitcoin is a computer file that can be stored in a ‘digital wallet’ app on your smartphone or computer. With this technology, every single transaction you make is recorded in a public list or publicly distributed ledger.

    This makes it easier for authorities to track and record your transactions but not you personally. We will not, however, get into the potential abuse of such anonymity in this article.

    Adoption

    We have been very slow to adopt new financial technologies for two reasons. First, there are many regulations that help maintain the US dollar as the vehicular currency, used by central banks and other financial institutions to secure assets. Second, many developers of the technology are hesitant to throw it upon us – yet.

    But this will change as the robustness and reliability of cryptocurrencies is proved study by study and case by case. One method is by using cryptology.

    Cryptology is used to protect your information from hackers. In fact, the protection of your data is more important than ever before. We have made our lives more public thanks to social media.

    While you may not mind so much if hackers get unauthorized access to your pictures and social media profiles, some information is actually valuable. This includes your banking details, birth certificate, licenses, and intellectual property.

    The Covid-19 pandemic has forced us all to work from home. Those employees of numerous companies are accessing commercial information using personal computers instead of office computers. But personal computers might lack anti-virus software, firewalls, and other security measures.

    Right now, cybercrime is costing companies at least $45bn a year worldwide.

    This is why now is cryptology’s time to shine. It will also be used to protect your online purchases made using cryptocurrencies instead of traditional money. It will help ensure that funds go from your bank account to a retailer’s quickly but securely.

    Using Crypto for daily activities

    Digital Cash

    Let’s face it, we are going to use Blockchain for shopping: Lamborghini already accepts purchases in Bitcoin. The concept might still be difficult for you to grasp, but they are still being developed and soon it will be near impossible to live without them.

    Read more about Distributed Applications ‘DApps’ here

    Gaming companies are already embracing cryptocurrencies. Fortnite, a popular online game, with more than 250-million players, allows you to buy in-game products using cryptocurrencies.

    Beyond regular shopping, you could soon buy a house using a cryptocurrency. Blockchain technology and the underlying distributed ledger technology is being used to increase transparency in real estate transactions using smart contracts.

    To reiterate the use case for Crypto, many countries like Germany are relaxing laws and giving licenses to allow ‘Crypto Banks’ to operate. This is one effort to ensure that your Cryptos are properly taxed when used for investment purposes.

    One such bank, Bitwala, allows you to purchase Bitcoins or Etheruem securely and quickly from a charges-free bank account which they provide.

    Your transactions are then documented so that you can seamlessly submit reports of the purchases to the local tax authorities (Finazamt) to avoid penalties. You can do this all directly from the Bitwala App.

    The blockchain and cryptocurrency are even being explored on national levels: China is allegedly creating its own national digital currency.

    The way forward

    Monetary systems will continue to be tested every day. Banks the world over are spending big bucks to protect themselves from hacks. But one day, a hacker could throw them into turmoil.

    When that happens, you might be unable to withdraw your money. A central bank’s database could be hacked making it difficult for it to work with other banks. In the meantime, alternatives to classic monetary systems need to be developed.

    Cryptocurrencies backed by cryptology could be a very strong alternative. There are also some valid cases for using Bitcoin as a global currency. This, however, will only become a reality if it shakes off its high trading volatility to become more stable.

    We live in a world where we need to be cognisant of our health and how viruses can spread easily and quickly like wildfire. It equally is imperative to realize that cyber attackers could get and infect our data just as swiftly. Using modern technologies can help prevent these intruders from creating a ‘digital security collapse’ pandemic.

  • Forced digitization

    Forced digitization

    If you are reading this, you are probably couped up in your home, apartment, or wherever you have been forced to settle for a couple of months.

    Local stores ran out of toilet paper, rice, and other ‘essential’ supplies but what also flew off shelves were laptops, printers, webcams, and modems. Let’s not mention the millions of software and apps that are downloading every second.

    Retailers are also running out of printer paper because some of us are still hooked on paper despite the invention of emails and digital signing.

    State of play

    Pic courtesy of Pixabay

    The term ‘home office‘ is no more a privilege for those people in senior management or for entrepreneurs – we all have to do it now.

    The coronavirus has shifted the way we integrate digitally – more people are learning how to use video-conferencing and collaboration tools.


    But how long can businesses afford to pay people to babysit their kids, watch funny cat videos, binge on Netflix, and have meaningless conferences on Zoom?

    One can only imagine the frustration you are going through to set up your home offices. Installing/using software and the correct drivers for devices can get a little techy.

    Professional Web conferencing with Microsoft 365

    Let’s be frank, nowadays, no ‘IT guy or gal’ in their right mind would risk, or be willing to pay house calls to help with these installations. You will, therefore, need to familiarise yourself with finding the right remote tech support or by watching Youtube videos to guide you along. Most cloud providers like Google have an online help site. Microsoft also has a great support site to help with basic office set up.

    There are many of you, on the other hand, who have some working knowledge of computers but just need the right tools to facilitate your home working experience.

    Broadband needs

    So first things first – you need the Internet!

    Without this, you might as well go outside and risk infection. Or better, get hauled to prison for breaking national isolation laws for a few months. You might even get better forms of entertainment in your local hospital or prison.

    Back to the serious stuff…

    Research has shown that a ‘standard’ broadband Internet connection has a minimum download speed of 25 Mbps and a minimum upload speed of 3 Mbps. This serves as a baseline for determining fast and slow internet speeds.

    Speeds much faster than that (100 Mbps and above) are therefore considered “fast” Internet.

    Here’s how long it would take in hours, minutes and seconds to download a 4 GB file at various speeds.

    1 Mbps10 Mbps25 Mbps50 Mbps100 Mbps200 Mbps400 Mbps1,000 Mbps
    9:32:390:57:150:22:540:11:270:05:430:02:510:01:250:00:34

    Upload speeds (generally offered at much slower speeds ) come into play with things like video-conferencing or uploading large files to a server/cloud. It is good to pay attention to those as well. As a guide, 5 Mbps and above are good upload speeds.

    So based on the above, and what activities you perform online, you can now have an idea of which packages to go for if you need to upgrade or change your Internet Service Provider (ISP) altogether. If you are not sure what your current speed is, take a free speed test here.

    For those living in Germany, there is a local speed test which is monitored by the government to ensure the ISPs adhere to speeds promised to clients.

    Kitting up

    Once that is sorted you can shop for a good PC, laptop, or other accessories – bearing in mind that performance depends on the specs of the machine you choose.

    This can include the quality of the network card built into your device that enables you to maximize the broadband package’s top speeds. For more advice on choosing the right device that you need for optimum performance, give us a shout.

    Take a look at our resources page for a list of available software tools to help with communication and collaboration. Naturally, we all have our favourites so we will not advocate for one specifically.

    Debunqed, however, does supply some of the best brands (with enhanced security features) so check out our online store.

    Lastly, as tedious as it sounds, please ensure that you have adequate anti-virus, anti-hacking, malware, and anti-phishing (for emails) software. We cannot stress how many online scammers have become super active in this period. Some of them are even offering “help” fighting against the Coronavirus.

    Some cyber-criminals offer desperate people who have lost their jobs ‘a chance to work from home’. It’s all the same, a word to the wise is enough. Be safe when it comes to self-isolation and hygiene – but also online!

    Speak to us for a more detailed free consultation on how to best setup at home. At the global rate of the spread of the Coronavirus, this home office phase might be a thing for the rest of 2020.

  • 2019 in Tech

    2019 in Tech

    This year may have felt like it was dominated by political shenanigans, but technology also had its wild ride.

    The USA vs Huawei

    A story that has persisted throughout the year is the heat around Huawei in the US. The Americans have stopped Huawei phones from being sold in their country because they say the Chinese mobile phone maker has stolen technology from American companies and has spied on them.

    The tussle began in 2018 but kicked into gear in 2019. Nevertheless, some American companies and organisations are still doing business with Huawei despite the ban by US President Trump’s government.

    The President of Microsoft, Brad Smith, also wants to the US government to offer more evidence to back up its Huawei ban. 

    The core issue with Huawei has been around concerns with Huawei’s close relationship with the Chinese government and fears that its equipment could be used to spy on other countries and companies.

    Huawei has also hit back at US ‘bandwagon followers’ and recently threatened to boycott Germany’s Auto industry if the European powerhouse banned them from offering 5G (broadband) in the country.

    Not a great year for big tech

    Big technological companies like Facebook, Alphabet, Google and Uber have faced a barrage of probes in 2019 be it around anti-competitive behaviour, spying on customers or their staff abusing customers. We also haven’t seen many new companies graduate to super-size status.

    After a long drought of big-name tech IPO (initial public offerings), 2019 promised to be a banner year. A crop of highly anticipated, highly valued tech companies — with hot marquee names such as Lyft, Uber, Pinterest, and Slack listed on the public markets. The idea was to allow you to take a stake in their business.

    Their reception, however, was truly tough. These companies’ stocks have not gained momentum and being listed has attracted greater public scrutiny.

    The biggest disappointment, however, must be WeWork’s failed proposed listing and its subsequent business fallout.

    The hottest things in tech

    Artificial Intelligence (AI) – We’ve been talking about this for decades since Terminator came out but scientists are managing to harness the technology especially in manufacturing and medical fields.

    Most of the top tech companies (Microsoft, IBM, Amazon, and Google) have already embraced AI. Many tout it as one of the main distinguishing features to set them apart competitively.

    A little of this tech has gone into robotics with much fanfare and fear over their capabilities and propensity to ‘initiate a judgement day’. Check out Boston Dynamics

    Bitcoin
    Bitcoin

    Blockchain – Bitcoin may be highly volatile and not the get rich quick scheme people thought it could be, but it is still out there. Clever people are finding ways of making commerce more efficient.

    There are however several practical and use-cases for Blockchain-based tokens and tech other than for payments and investments.

    Robotic Process Automation (RPA) – this is a technology that could explode in 2020. Right now, only large enterprises are using RPA but it could become more affordable and workable for smaller businesses in 2020. RPA is the process of automating mundane tasks such as taking data from one file and entering it into a business application like CRM software.

    It’s about computerizing repetitive tasks that are an inefficient use of time, so it makes our lives more efficient. 

    RPA is not a physical robot. It is also an approach to working across multiple business applications and entering, maintaining, migrating, integrating, mining and testing data on spreadsheets.

    These tasks are prone to human error which is why computerizing them makes so much sense.

    amazon web servies edge computing ad

     Virtual Reality and Augmented Reality – VR made strong progress in 2019. This was most useful in gaming, real estate companies, pornographic entertainment and for people with disabilities.

    For you gamers – it is best to buy an Oculus Quest for your PC. Sony’s VR headset is still the best and only gaming set.

    Look after my data – or not!

    The first fines around the General Data Protection Regulation (GDPR) were lodged in parts of the EU. The GDPR was promulgated in 2016. It is a regulation in EU law on data protection and privacy for all individual citizens of the EU and the European Economic Area.

    It also addresses the transfer of personal data outside the EU and EEA areas. GDPR was enforced because of concerns about data breaches and attacks on privacy by the likes of Facebook and Google.

    Then there were concerns our banks, insurance, and other data keepers were selling or losing our data to dangerous entities.

    The types of personal data exposed included your names, addresses, phone numbers, email addresses, and even passport numbers.

    Lessons learned

    The Marriott hotel group’s data breach of 2018 resulted in the exposure of 339-million customer records. Around 30-million of the records belonged to European Union citizens, and therefore they were subjected to a GDPR fine.

    Facebook seems to love controversy and had been found to have allowed a massive 247 million user (mostly Americans) data leak.

    Back home in Berlin, on October 30th the Berlin Commissioner for Data Protection and Freedom of Information issued a €14.5m fine on a German real estate group, die Deutsche Wohnen SE. This was the highest German GDPR fine yet. The infraction related to the over retention of personal data.

    Despite the turbulent year for tech companies and consumers, we look to 2020 with breathless anticipation. We also ponder on which of the mentioned technologies will stick out and make a positive impact on our lives.

    Pictures courtesy of Pixabay

  • A decentralised solution

    A decentralised solution

    Did you know that there are still more than 700 million people in the world who live in extreme poverty? These people must scrimp, starve, and struggle to survive off less than $1.90 per day.

    By 2030, the World Bank estimates that more than 90 percent of those people will be concentrated in Sub-Saharan Africa.

    This is perhaps one of the greatest developmental failures of the modern world. Despite the continent’s expansive natural resources and increasing connectivity, foreign actors still feel it’s too risky to heavily invest in their markets.

    Blockchain could be the key! 

    Bitcoin and “Blockchain” were created in the mass wave of distrust in banks after the 2008 financial crisis. Therefore, the technology enables individual, distributed data storage that could become the perfect evidence (trust) base and financial infrastructure for a developing country.

    With the right implementation, Blockchain holds the potential to completely revolutionize and revitalize such economies, especially in Sub-Saharan Africa.

    So, what is this Blockchain?

    Blockchain is essentially a kind of decentralized database that allows you to have a safe, secure way to handle their data without the need for third parties.

    How Blockchain works

    For example, you could with Bitcoin, make or accept payments in real-time without needing a centralized bank.

    “[It is] a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer,” said software entrepreneur Marc Andreessen.

    “The consequences of this breakthrough are hard to overstate.”

    Historic background

    Until the mid-twentieth century, most of Africa was ruled under a colonial system meant to exploit the people and their natural resources for European benefit. Africans, in addition, were rushed into development according to European standards rather than homegrown ones.

    The legacy of rapid development, distrust and corruption left behind an economic system failing to recover in the 21st century.

    While the World Bank celebrates a decrease in global poverty levels, the number is expected to remain stagnant in Africa. Today’s poorest people are living in places with the least economic growth.

    Sadly enough, poverty and lack of investment in many developing countries stem from how they were integrated into the world system.

    The land was cut into countries according to European treaties and agreements, rather than by traditional and tribal land divisions. This situation worsened upon the handover of colonial power to so-called “democracies.” Power often shifted to the ethnic groups that former colonizers favoured.

    Corruption multiplied in the form of bribes, political persecution, rigged elections, and a massive wealth gap. All of this still affects the wealth distribution and investment potentials of many developing countries.

    Of course, this created a lack of trust in banks and government throughout much of Sub-Saharan Africa.

    The perfect fit for Africa

    During a 2012 study conducted in rural Western Kenya, Stanford University researchers waived the costs of opening basic savings accounts for a number of unbanked individuals.

    While 63 percent of the subjects opened an account, only 18 percent of them used the accounts. This was likely due to three factors: a lack of trust in banks, unreliable service and prohibitive withdrawal fees.

    Unfortunately, the prevalence of unbanked individuals in the informal sectors scares off foreign investors, who heavily rely on transactional evidence to make investments. Otherwise, pouring money into markets is too risky. That’s where Blockchain comes in.

    How would it work?

    Blockchain can host an entire evidence base of transactions, loan repayments, and asset titles. The technology is also decentralized and requires individual confirmation, creating an element of trust and transparency beyond traditional banking systems.

    SmartContracts

    According to Victor Olorunfemi, Director of Products for Pan-African tech and crypto-exchange, KuBitX, Blockchain’s major benefits lie in “frictionless P2P and cross-border payments, transparent elections, land registry management [and] transparent crowdfunding.”

    Let’s look at some of the different ways Blockchain could benefit developing economies, especially in Sub-Saharan Africa.

    1. Creating financial infrastructure and accountability

    According to a study by the Milken Institute, viable financial markets require consistent, accurate data on assets and credit histories. Luckily, Blockchain may fulfil these needs.

    The use of Smart Contracts technology is ideal in areas lacking accountability, such as the real estate or land/agricultural sectors. In Africa, a lack of record-keeping practices often leads to “missing” or non-existent title deeds. In some cases, this is intentional.

    Title deeds “go missing,” only to end up in the hands of benefactors other than the rightful owners. Smart Contracts could eradicate these issues through the use of special tokens that cannot be duplicated, changed or removed. See the article on tokenization.

    Likewise, Bitland, a company in Ghana, currently helps individuals record deeds and land surveys. By resolving land disputes, Bitland creates more stability while accurately recording land asset data.

    “There’s a massive number of people in the informal sector, but there’s not much data being collected on them right now.”

    Merit Webster, co-president of the MIT Sloan Africa Business Club.

    “That means you don’t have that credit history or payment history for them. If you have a decentralized approach to collecting data, you end up with more malleable data. [This] is very valuable for creating credit histories.”
    The agricultural industry also has the potential to thrive using Blockchain.

    “Blockchain could be used to track goods around the world. This allows farmers to earn a fair wage for their goods.”

    Also, farmers could use record-keeping technology to streamline the supply chain and document resources. This would lead to better efficiency, lower transactional costs, and improved logistics.

    2. Security in banking

    According to the World Bank, there were 1.7 billion people with no bank account in 2017. This situation is worst in developing countries, especially African ones. For example, over 62 million of these people lived in Nigeria.

    Besides, data from Google Trends reveal that Lagos, one of Nigeria’s biggest cities, ranks globally as the number one city based on the volume of online searches for Bitcoin (BTC). Clearly, for the city’s 21 million-odd people, there an immense interest in some form of an accessible payment system.

    Of course, it’s unrealistic to expect bank branches to magically appear in every remote corner of the world. However, a digital database using Blockchain technologies has the potential to reach far beyond physical banks.

    Ad: N26 Bank

    Many Africans value trust and transparency. In developing countries, this lack of trust goes beyond the Internet. Developing countries with less industrialization tend to have higher levels of corruption.

    This reduces national investment opportunities in the public sector and instills a lack of trust in centralized oligarchs handling an international investment.

    Because its power lies within the community of users, Blockchain can combat these trust issues. All data logs and amendments must pass through this community and identification confirmation tests.

    Blockchain technology also secures your data incredibly. Hacking and data breaches are all too common nowadays. In 2017, for example, around 3 billion Yahoo user accounts were stolen.

    When information is stored in the same place, hackers have one, easy target. In contrast, Blockchain is a distributed entity. This dissemination of data leaves it far less vulnerable to cyberattacks.

    3. Fostering Entrepreneurship

    Coupled with the Internet, Blockchain technology could be the perfect platform for aspiring African developers. Because the ‘source code’ is free of charge, skilled coders can adapt, create, and configure special applications, called DApps.

    These are available on Crypto platforms and provided by companies like Ethereum, and a South African firm specializing in what they called the Keto-Coin.

    Rather than waiting for governments to drag their feet trying to create jobs—individuals on the continent can form small firms that build and sell Crypto-based Apps locally or abroad.

    “Despite the frictions and impediments mentioned,” said Olorunfemi. “Blockchain can still provide an avenue for promising African tech projects to access capital (FDI) via token offerings on digital assets exchanges.”

    Many courses are even readily available online to quickly learn about new technology. Microsoft, for instance, offers a platform via Azure for you to build and learn about the Blockchain.

    One-man shops in countries with unfavourable economic systems, like Zimbabwe, can also adopt smaller, stable, Cryptocurrencies to facilitate or payments. In cases of rampant inflation, they can temporarily act as a store of value or help you pay for things until your currency stabilizes.

    As with the Venezuelan hyperinflation case study, Cryptocurrency intervention could help many developing countries troubled with economic instability.

    There is also the option of Crypto-mining. But before you pull out the ‘high-consumption energy’ argument – think outside the box for a moment. What about energy sources that are free and available nearly 24/7? Like water and the sun!

    The African continent is full of capable scientists and mechanical engineers. One could build special solar-powered energy centers to power Bitcoin-mining.

    And without the expertise, governments or private companies could alternatively just invite Crypto companies with abundant financial resources to mine (cleanly) for a special tax/fee while creating jobs for the locals.

    4. Elections

    In addition to the financial side of things, Blockchain technology could help eliminate some forms of corruption. For example, many African countries’ elections are incredibly vulnerable to the social scourge. In some extreme cases, some officials change or forge written ballot votes to rig elections.

    Corruption


    To combat this, Blockchain databases could record votes. This makes it nearly impossible to tamper with using Smart Contract technology. Having fair elections improves infrastructure, which then increases development and economic dependability.

    Blockchain non-profit company Cardano, this year, has partnered with the Ethiopian government to battle these issues specifically.

    5. Leapfrogging

    While some might see Africa’s economy as underdeveloped, others might see it as a blank canvas well-suited for a large-scale implementation of Blockchain. Economic and governmental systems are shifting and slightly shaky in many Sub-Saharan African nations.

    MPesa

    The challenge is to foster a rigid economic system to implement Blockchain.

    Don’t just take our word for it—African nations have often implemented new, practical technologies before the Western world. Let’s look at the example of M-Pesa. Back in 2014, Americans and Europeans were amazed by Apple Pay’s launch.

    However, this mobile payment system wasn’t exactly “new.” By that time, Kenyans had used M-Pesa, a very similar technology, for years.

    “There’s a lot of opportunity to leapfrog the way the West developed and have these more unique African solutions, but it needs to come from within,” said Webster.

    “It needs to come from entrepreneurs in the continent who want to implement these solutions. It’s important to engage people very early on. Systems incubated in the West don’t stand as great of a chance to work as African ones do.”

    Concluding remarks

    With the possibility of an experimental, large-scale takeover of Blockchain technology to improve African infrastructure, the nations there could leapfrog in development and growth.

    This must begin internally. According to Olorunfemi, “Education—of policymakers and other stakeholders—which is often ignored has to be a critical factor in paving the way for the acceptance and adoption of new technologies and the accompanying investment.”

    The results in Sub-Saharan African countries could help eliminate much of the world’s poverty. It would also remove remnants of mistrust and corruption left behind by the days of colonial exploitation.

    While there are some obstacles to large-scale Blockchain implementation, we can’t think of a better benefactor than there. The possibilities for business using the Blockchain are endless!

    To learn more about how to get started with Cryptocurrency mining or purchasing, visit our resources page for useful links and guides.


    Additional input by Bobby Quarshie (BQ). 
    Citations: Christopher Lee and Jackson Mueller. 
    Swan, Melanie. “Anticipating the Economic Benefits of Blockchain.” Technology Innovation Management Review 7.10. Oct. 2017.
    Bitcoin Lessons from Venezuela, Where Hyperinflation Reigns. Online Source: https://www.lathropgage.com/newsletter-237.html
  • Cloud-hosted services square up

    Cloud-hosted services square up

    Running your business requires choosing the right tools for you and your employees. In order to streamline work-related productivity, many organizations are migrating to cloud-based office suites. Specifically, Microsoft’s Office 365 and Google’s GSuite (now known as Google Workspace).

    Both products boast a variety of helpful productivity tools and the latest remote collaboration technologies. While it’s impossible to say which one is “better”. This head-to-head comparison can help you decide which office suite is a better fit for your business.

    What is Workspace & Office 365?

    Office 365 and Workspace (previously GSuite) are packages, of powerful business tools that facilitate your day-to-day tasks using the cloud. They even provide business emails along with apps for creating documents, spreadsheets, presentations, video conference calls, shared calendars, and notes.  

    In addition, storing information on Google or Microsoft servers, rather than your own via these suites, can also save your business a lot of money.  

    Plans and Pricing

    First, let’s look at plans and prices. It’s important to note that Microsoft requires an annual commitment, while Google offers you the option to make monthly payments if you prefer.

    Contact us to get a formal quote for your business
    GooglevsMicrosoftSuites
    Cloud packages head-to-head

    Email

    While both Office 365 and Workspace offer web and mobile apps (Outlook and Gmail, respectively) for email. There are, however, some subtle differences.

    One advantage to Office 365 is the desktop version of Outlook, which is incredibly feature-rich and lets you sort and group emails with ease. Gmail, on the other hand, is widely used throughout the world. For this reason, a variety of third-party app options (e.g. WordPress) can be linked to it to enhance its capabilities.

    Cloud Data Storage

    For the entry-level plans, Office 365 Business Essentials wins out with 1 TB (terabyte) of storage per user, while the Workspace ‘Basic’ plan only offers 30 GB. GSuite includes emails in this storage limit, whereas Office 365 provides extra storage for email files with added archiving.

    However, Workspace’s upgraded plans beat out most of Microsoft’s storage offerings. So long as your business has more than five employees, Workspace Business and Enterprise provides unlimited cloud storage. Although, businesses with less than 5 employees on the “Business” plan are capped at 1 TB. Only Microsoft’s E3 plan and higher offer the same unlimited cloud storage.

    Applications

    Applications are the cornerstones of a suite’s functionality. Workspace and Office 365 offer you a variety of comparable apps for word processing, creating spreadsheets and presentations, all on the cloud!

    This means every user gets a free desktop version of the Office suite (i.e. Microsoft Word, Excel) to download.

    These feature-rich apps expand far beyond the capabilities of the mobile and online versions, and are available on every plan except the ‘Business Essentials’.

    While both services offer mobile and online apps, one major benefit of Office 365 are its desktop applications.

    Collaboration

    These online applications make both suites ideal for remote collaboration. Microsoft Teams lets facilitate this with tools like real-time co-authoring, mentioning users by name and chat capabilities while working on OneDrive. Microsoft now lets you collaborate using its desktop apps, too, although the updates to shared files are a bit sluggish compared to its online apps.

    Similarly, GSuite offers Hangouts for chats and Google Drive for real-time collaboration. Google’s online and mobile apps were created with cloud collaboration in mind, so some might find them a bit more user-friendly.

    For remote meetings, GSuite and Office 365 both offer group video conference calls. If you plan on large-scale video conferences, then Office 365 offers far more for your money: most plans have a 250-participant limit, while the E3 plan increases to an astounding 10,000-person limit.

    Meanwhile, GSuite’s Google Meet allows up to 25 participants on the “Basic” plan, 50 on the “Business” plan, and 100 on the “Enterprise” plan.  

    Security

    Cloud services are running into a variety of security issues, and these suites are no exception.

    A 2019 Barracuda Networks’ report found that a large percent of ATO (account takeover) attacks were targeted at Microsoft Office 365 accounts after businesses migrated emails to the service.

    These attacks prompted the Cybersecurity and Infrastructure Security Agency (CISA) to issue a set of best practices. The aim was to help organizations migrate their email services while avoiding risks and vulnerabilities.

    Meanwhile, Google recently announced that a cloud storage feature for encrypted passwords on its “Enterprise” plans was faulty. As a result, some user passwords were stored in plaintext on Google’s servers!

    While cloud computing has its risks, the two suites do have impressive security features. GSuite is comparable to Google’s own level of security and offers AI detection of suspicious activity, Two-Factor authentication, and data leak protection—in which admins can block outgoing communication determined by set keywords.

    On the other hand, Office 365 has the option of Multiple Factor Authentication (MFA), along with the detection of malware, viruses, and suspicious activities. Microsoft also provides data loss protection, and admins can restrict access to company-issued devices only.

    Ease of Use

    So, which is easier to use? Well, it depends on who you are, and your ability to grasp software quickly.

    If you’re accustomed to working with MS Word or Excel documents, and edit them for work on a regular basis, then Office 365 and its desktop-to-online formatting compatibility will probably be your best bet. This is especially true if your company solely computes with Windows PCs.

    However, new users might find GSuite apps easier to learn, as the tools are a bit simpler and straightforward.

    So, which is best for you?

    Firstly, Office 365 offers feature-rich apps, and most of its plans come with a desktop version of MS Office applications. This is a definite advantage over its competitors.

    Its entry-level plan is far more generous in terms of data storage than GSuite’s “Basic” plan. In addition, businesses that already exclusively use Windows technology are likely to find Office 365 better-suited for their needs.

    With that said, GSuite was originally designed as a cloud collaborative productivity tool. Therefore, its features might be easier for collaboration and can be used among a wider variety of Windows and Mac devices. In addition, GSuite’s Business’ plans and above outdoes Microsoft when it comes to unlimited cloud file storage. <- This has changed since the article was first published.

    Unfortunately, I can’t tell you which of the two is “best.” But, with this knowledge in mind, you can make an informed decision to choose the best cloud suite for you.

  • The latest cloud computing trends in 2019

    The latest cloud computing trends in 2019

    It’s 2019, and the Cloud is everywhere—from the apps we use every day to the infrastructure of global tech giants.

    According to researchers at Gartner, revenue generated from public cloud services is projected to grow 17.5 percent in 2019. This amounts to a total of $214.3 billion, up from $182.4 billion in 2018.

    More than a third of organizations surveyed by Gartner saw cloud investments as a top three investment priority. With this kind of growth, tech organizations are racing to get on board with cloud-only software and platforms.

    Here are some of the trends to look out for this year:

    Hybrid Cloud, Multi-Cloud and Mergers

    IBM announced its purchase of Red Hat last October, calling it the “most significant tech acquisition of 2018.” This combined Red Hat’s extensive network of open-source clouds with IBM’s Hybrid Cloud team.

    Mergers like these are likely to become a trend this year, as companies see the benefit of using multiple clouds across all sectors of their organization.

    Furthermore, this system will dominate in the future, as businesses find public clouds inadequate to meet every one of their requirements.

    As a more flexible and functional solution, many organizations will shift to a network of multiple private, public and hybrid clouds in the future.

    Serverless Cloud

    Serverless computing is a young market in technology, but it will continue growing in 2019. It isn’t actually “serverless.” Instead, it is a cloud-computing model in which the cloud provider itself runs the server on a dynamic, as-used basis (FaaS).

    Rather than buying server space, developers can use a back-end cloud service to code. They will only then pay for the server space they actually use.

    As this relatively new technology develops, we can expect to see more companies providing and expanding their “serverless” offerings.

    Artificial Intelligence

    Although cloud technologies are growing exponentially, artificial intelligence (AI) could prove an even greater economic driving force. According to Accenture, the impact of AI could double economic growth rates by 2035 in developed countries. 

    Around 80 percent of large companies have adopted some form of AI, according to the Harvard Business Review.

    Amazon, Twilio and Nvidia, to name a few, are thus, incorporating AI with cloud computing, next-gen GPUs and the Internet of Things (IoT). This has led to the developing of applications with “smart assistants,” and voice-to-text technologies.

    Such a combination of AI and the cloud provides an extremely powerful and unconstrained computing network.

    Security

    Digital transformation is already underway, with Gartner also projecting that 83 percent of all workloads will shift to the cloud by 2020. However, this movement presents issues of cybersecurity.

    Many businesses have not properly secured their cloud-stored data. For example, marketing and data aggregation firm Exactis left around 340 million records exposed on its cloud servers. This was uncovered in a data breach last year.

    Mitigating factors

    The implementation of the General Data Practice Regulations (GDPR) makes this even trickier. It affects cloud security, and IT companies will likely struggle to comply with these new laws while protecting sensitive information.

    Cloud computing services are progressing exponentially, as are their new developments. The year 2019 will surely be filled with businesses pouring investment into enterprise solutions. This while expanding, securing, and implementing cloud technologies to their fullest extent.

    Bridget is a freelance writer and editor, and the founder of Lost Bridge Blog, where she writes about traveling as a Millennial woman on a budget. When not writing, you can find her traveling, drinking inhuman amounts of caffeine and scrolling through the latest tech & political news.
    N26 Bank
  • Open Banking – too exposed?

    Open Banking – too exposed?

    As a human race, we are constantly striving for easier ways of doing things: simpler, faster, and more practical. Thanks to better tech, you can now interact with people globally and instantly with the click of a few buttons.

    Likewise, you can also physically move quickly due to advances in transportation technology. When it comes to the age-old practice of banking – the same is now happening.

    Provided you have the necessities, a passport, residential address and a mobile phone, you can now open a bank account within minutes. This is brought about by a Fintech offering better known as Open Banking.

    Open banking uses APIs that enable third-party developers to build applications and services around the financial institution.

    Wikipedia

    It is ultimately about giving you a better, secure, and flawless service experience. This comes with the opportunity to gain access to excellent financial products.

    Online security expert and Chairwoman of Zortrex, Susan Brown reflects on the advent of the new offering:

    “Just over a year ago when Open Banking came into the limelight for the Fintech world. CMA9 were effectively mandated to make their banking platform accessible for third party companies.”

    A comprehensive global report commissioned by Accenture emphatically highlighted growth and talking points about the emerging industry in 2017.

    MS Office package

    This is all wonderful, innovative, and promotes transparency within the financial services market. There is only one drawback:

    “Consumers really do not know what Open Banking means, there has been a lot published about the benefits that are to be had from Open Banking. At the same time, consumers have become very aware of the negative aspects around sharing their data.”

    Scourge of hacks & breaches

    Daily, you hear more and more about hacks, and data compromises. With the UK’s Lloyds Bank breach last year; the trust by its consumers to share their financial and personal information, some would say, is completely gone.

    In addition, you go onto a site to review products and before you know it, you are bombarded with adverts on the products that you have been looking at elsewhere. This has led some consumers to abandon shopping carts and refrain from using online retailers.

    If not adequately protected, the newly established Fintech system might suffer a similar data breaches.

    Visa and Mastercard for one, are among the established firms threatened by Open (Mobile) Banking. And so, they should be according to Brown.

    “As consumers knowledge grows about their data and the security around their financial data has not been secure as shown with the Marriott hack.”

    Naturally, new systems pose a huge threat for banks. They become the digital gateway channel connection to the financial sector. This eliminates the direct relationship between consumers and banks.

    This is not a bad thing as banks are overwhelmed and cannot always keep in touch with everyone.

    An added layer of protection

    The solution for failing global acceptance would be for a new Fintech company to gain the trust of its new customers. They would naturally also be able to chip away at the market share of other expensive financial institutions.

    What you as a consumer know and want is privacy and security. Currently, only banks can make this happen – but at a high cost.

    With a new digital tokenisation system like Zortrex vault, you can concurrently let your consumers reap the awards on their transactions.

    They can as a result, gain redeemable tokens for patronising your services. This can occur while both you and your partners offer them products globally.

    “Don’t be a gateway for the challenger banks be in control of your omni channel for your consumers,” Brown advises

    Read more about Zortrex’s solution to privacy here.

    This contains excerpts from Susan Brown about Open Banking initially published on her LinkedIn page.  

     

     

     

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