Maybe you should encourage your kids to become hackers. When you open Twitter handles and Linkedin profiles, it’s not unlikely that you’ll find people listing hacking as a skill.
Parents used to tell their kids to become doctors, lawyers and accountants. Later, they advised them to learn about computers. These kids grew up to become hardware specialists and then software specialists. That was related to the third industrial revolution.
We share more and more of our personal information with more people, companies and institutions every day and we do it willingly and are often blasé about it. This has prompted more people to steal this information through hacking.
Since the advent of personal computers in the 1980s hackers have become prolific, initially in first world countries which had an advanced infrastructure. There were numerous cases in the US but as computer technology has permeated the world, hackers have followed suit.
A hacking group called MOD, Masters of Deception, in the 1980s allegedly stole passwords and technical data from Nynex, and other telephone companies as well as several big credit agencies and two major universities.
The damage caused was extensive and one company, Southwestern Bell said it suffered losses of $370,000 alone. These days the damages, though not always publically announced, can run into a few millions.
This has paved the way for a special information technology (IT) vocation. A security hacker is someone who explores methods for breaching defences and exploiting weaknesses in a computer system and networks. They break into systems they aren’t authorised to, and tend to break seamlessly into email and banking systems.
Hacking as a career
Ben Wilson works as an ethical hacker. He has more than ten years of experience and worked in London where he received on-the-job training. He now works remotely in South Africa servicing UK clients.
“I test websites for clients. I look for vulnerabilities in the systems. I have done a lot of work for banks lately but my work is across industries.”
“Energy companies are using my services more and more,” he says.
Wilson says he worked in a permanent position for six years. Right now he contracts for five clients regularly.
Ethical hackers are the knights who test how permeable these systems are.
“The majority of my work is for British clients. The UK pound is strong and I like to earn pounds. I’d say the best computer security consultants in the world are in the UK. The US is strong too but the UK consultants are sophisticated and the best.”
The most common way in which people hack information is through email contacts; especially personal Gmail accounts.
People think that their information is safe because it sits with one of the largest companies in the world. But this is exactly why it isn’t safe.
Gmail accounts are regularly hacked and if you want to protect especially valuable information you should either upgrade it to the business/enterprise level, use a different email service, or perhaps the one connected to your employer.
Nowadays companies use services to protect themselves against hacks and unauthorised access. These monthly or annual service providers might employ ethical hackers to check the companies’ systems.
Hacking, however, isn’t just something that happens to big companies or in blockbuster movies. Here are some reality checks:
Fortunately, there are several ways of protecting yourself and your information from hacking; starting with your emails. Be wary of “phishing” emails asking you to update your information, especially for bogus databases which you have never heard of.
Use a spam filter.
Avoid opening attachments from senders whom you don’t know.
Update your passwords regularly.
It helps to have authentication methods, such as a smartphone linked and email linked authentication (2FA) or security keys like Yubico.
Don’t click on any ad – period!
Back up your files regularly – it’s always good idea.
Don’t allow ransomware bullies to bully you.
If you get sent communication saying that people have your files and want money or they’ll release the files; ignore them.
They can’t threaten you forever and might eventually move onto another target especially if your information loses its value over time.
As a business, use tools like those from cybersecurity experts Acunetix. More than 4 000 companies protect their web applications form vulnerabilities using its powerful web scanner.
Its penetration testing software prevents potential attacks by identifying holes in your websites’ coding. This is where hackers usually plant their complex code which allows them to extract data such as contact details, credit card details and in worse cases, company-sensitive data like patents and blueprints.
Naturally, they also scan networks to find gateway loopholes that could lead to crashes and downtime-related losses. A bank’s website going down for a few hours can cost it several thousands or even millions in lost revenue.
Despite having firewalls, VPNs and other Internet security systems in place, your websites and Apps being developed are still vulnerable to cyber-attacks or a hack.
The most commonly known and used however, is a DDoS attack. Basically it works like like a traffic jam clogging up a highway, preventing regular traffic from arriving at its desired destination. Incidently, only a few days ago, Amazon was hit by a DDoS Attack.
So, how would you know or find out if you are vulnerable? By conducting regular scan on your websites and apps to see where vulnerabilities lie.
Avoiding a hack requires common sense
Be aware and don’t fall into scams. It’s unlikely you’ve won 120-million Euro in a lottery. And you should know by now that are not the descendant of a king!
If someone says they have a sex-tape with you in it and they want your salary, unless you know you made a sex tape, they’re probably lying.
Unless of course, a scorned lover of yours tricked you – but you can’t blame technology or a hacker for that.
Let’s face it: we’re accustomed to instant gratification in the Internet Age. With the expansion of technology, Amazon order confirmations arrive in email inboxes instantaneously, while hungry customers track the location of their much-awaited pizza delivery each step of the way.
Instant gratification is a sign of the times!
Likewise, if you want to run a sustainable, profitable business in 2019, then digitization is not only useful– it’s necessary. And it’s easier than you think.
Did you know that 30 percent of tasks involved in over half of all jobs could be automated using technology that exists right now?
According to McKinsey & Company, a global management consultancy firm, this number will grow even higher as technology develops–which is great news for your business, your employees and your profits.
And no, we’re not talking about robots coming to take over your job (although some pretty cool robots exist). From automatic “Abandoned Cart!” emails to payroll and employee onboarding, automation is already a mainstay of modern organizations.
So, looking for inspiration? Here’s just a few of the amazing ways to automate your business.
Artificial intelligence is taking over the world–and it should be taking over your daily processes. Machine- and deep-learning AI provides a cost-effective solution for both carrying out mundane day-to-day tasks and engaging with customers.
For example, AI-powered bots are revolutionizing customer service abilities by providing 24/7 assistance for regular inquiries and troubleshooting.
Meanwhile, SiriusDecisions, an industry analyst firm, found that sales reps spend only about one-quarter of their entire work week actually selling to customers. The rest of the time–approximately 27 hours each week–is spent on administrative tasks like data entry.
These duties tend to consume a lot of time and energy. Instead, by automating the process, employees could spend their time closing deals and making connections to new leads and investors.
Customer and Employee Relations
At its core, CRM, or customer relationship management, includes all the technologies and strategies involved in these relationships, like email marketing, telephone calls, mail and social media marketing
If it sounds like a lot — well, that’s because it is. Manually logging all customer data (accurately) throughout the sales funnel is time-consuming and subject to human error. It’s also nearly impossible to maintain communications with every single lead. In those cases, both the business and the customer suffer.
Thanks to automated email responses, data collection and communications, these problems are a relic of the past. According to a study by Enterprise Apps Today, over 60 percent of respondents believe that automation boosts customer experience. Digitization not only eases business processes, but it improves B2C ( business-to-consumer) relationships, too.
Hackers and cybersecurity threats are growing more complex and common every day. Automating your data security systems with AI machine learning can provide a base level of protection while freeing up IT professionals to focus on progressing your business’ systems or confronting only the most complex of threats.
According to McKinsey, digitizing data-heavy processes within businesses can cut costs by up to 90 percent. You can automate everything from employee and customer onboarding, legacy-system integration, data migration and far more.
Although the initial implementation of automation can take time, effort and money, the payoff is well worth the investment.
Where Should You Start?
To figure out where to start digitizing your business, there are a few questions you should be asking yourself, like: what would improve my customer’s experience and, how can I better communicate with customers?
Further questions such as: which tasks can I automate to save time and cut costs; and finally, how you can ease the daily tasks of your employees in order to better utilize their skills (productivity) are also important points to consider.
Whether you begin with cybersecurity, automating payroll and onboarding, or equipping your site with AI-powered technology, digitizing your small business will lead to happier employees, satisfied customers and a profitable structure for the future.
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 around 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, however, could be the key to changing that!
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 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 individuals to have a safe, secure way to handle their data without the need for third parties.
For example, people with Bitcoin can 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.”
Why Blockchain could be the perfect fit for Africa
Until the mid-twentieth century, most of Africa was ruled under a colonial system meant to exploit the people and the resources for European benefit. However, they 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,” where 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 which still affect 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. During a 2012 study conducted in rural Western Kenya, Stanford University researchers waived the costs of opening a basic savings account 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.
According to Victor Olorunfemi, Director of Products for Pan-African tech and cryptocurrency 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.
Blockchain has the potential to build up individual credit histories, as well. An individual could record on-time bill repayment or smaller transactions to obtain loans.
“There’s a massive number of people in the informal sector, but there’s not much data being collected on them right now,” said 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.
“In the case of small-scale farmers, Blockchain technology helps with transportation logistics,” said Webster. “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—especially for commercial farming activities that invariably contribute to exports.
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.
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 instils a lack of trust in centralized oligarchs handling 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 its 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 adopt, create and configure special applications, called DApps, via Crypto platforms provided by companies like Ethereum, Tron and even a South African firm specializing what they called the Keto-Coin.
Rather than waiting for governments to drag their feet trying to create jobs—which they tend to do—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 (and even non-tech) projects to access capital (foreign direct investments) via token offerings on digital assets exchanges.”
Many courses are even readily available online to quickly learn about the new technology. Microsoft, for instance, offers a platform via Azure to build and learn about the Blockchain.
One-man shops in countries with unfavourable economic systems, like Zimbabwe, can also adopt smaller, stable, Crypto-built Apps/coins to facilitate or replace payment systems. In cases of rampant inflation, Cryptos can temporarily act as a store of value or help pay for things until the currency stabilizes again.
There is also the option of Crypto-mining. Now before you pull out the high-energy (electricity needed to power PCs that mine Cryptocurrency) 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.
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.
To combat this, Blockchain databases could record votes, which are nearly impossible to tamper with using Smart Contract technology. Having fair elections improves infrastructure, which then increases development and economic dependability.
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.
Although these facets have been detrimental in the past, this also means that there is no rigid current economic system to upend 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.”
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, surpassing current World Bank expectations and its developing national counterparts.
This must begin internally. According to Olorunfemi, “Education—of policy makers 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, along with 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
Like a biological virus mutates – as technology advances, so does the complexity of phishing and identity theft schemes. With major services adopting cloud technologies and storing private data online, anyone is vulnerable to hacking.
To make matters worse, hackers continue to come up with some pretty creative ways to profit from stolen information.
Without wasting time, these are the things you should already be doing to avoid being exposed to hackers in the first place:
In order to keep these cybercriminals out of your lives and computers, let’s take a look at some of the actual schemes to watch out for in 2019.
We all know what hacking is by now – the term has almost become synonymous with internet security. So a question is: do you love watching movies on Netflix or jamming out to your summer playlist on Spotify? If the answer is yes, then you’re at a pretty high risk of getting hacked.
DynaRisk, a UK cybersecurity firm, recently found that cybercriminals most commonly target these brands, along with adult-oriented sites (you know what we mean) and then, online gaming services.
A few weeks ago, authorities caught a New
York-based gang who had used identity theft to steal over $19 million worth of
reported that this operation ran for seven years.
So-called “Top Dogs,” the ring leaders, would organize lower level members of their organization to steal identities and create clone credit and identity cards. Then, affiliates fanned across the nation, signing up for mobile phone plans to acquire iPhones, which were later sold for a profit by the Top Dogs.
Because phone payment plans take the shape of nominal fees over the course of several years, victims often wouldn’t notice the fraud until it was too late. Learn how another scheme dubbed sim port attack works in the diagram below:
Hacking can happen to anyone – including
our favorite bands. In early June, a hacker managed to steal the minidisk
archive of Thom Yorke, the lead singer of Radiohead. This included previously unreleased
demos and audio material from around the time of “OK Computer,” the band’s 1997
worldwide hit album. The hacker then demanded $150,000 on the threat of
Holding files for ransom is so common nowadays that it even has its own name: “Ransomware.” Either pay over the ransom or lose your files—or, even worse, have them released onto the unforgiving Internet.
In response, Radiohead released all 18 hours of material on Bandcamp themselves, winning against these ransom hackers.
Most security experts recommend
the same route as Radiohead—never pay the ransom, because there’s no guarantee
you’ll recover files or prevent their release.
If you think ransomware is bad, there’s an entire subgroup of it aimed to profit off sexual shame. Cheekily named “Sextortion,” some hackers creatively upgraded the classic email phishing scam to scare victims into handing over Bitcoin.
According to Fortune, hackers have already racked up over $900,000 with sextortion. In these phishing emails, the sender claims to have spied on you while you watched porn—and has webcam footage of the salacious deeds. The message then demands a Bitcoin ransom, or else face the social and professional consequences of this lewd video getting sent to all your contacts.
To make the threat even more believable, the sender references a previous password tied to the user’s email account. According to Krebson Security, a sextortion phishing message might look a little like what’s written in the sidebox.
In rare cases, the threats are real—and hackers get their hands on some sexually explicit photos. Recently, American actress Bella Thorne fell victim to sextortion. Last Saturday, she took a similar, albeit more risqué, route as Radiohead, opting to release her nude photographs on Twitter in order to take the power away from her hacker.
So, what’s the best way to avoid your personal, or, business from costing thousands in virtual currency? Since most of these emails are fake, you can just avoid them with a spam filter. And you should probably buy a webcam cover…just to be safe. When it comes to general browsing- we suggest using a VPN.