The blockchain is seen by some people as a revolutionary or disruptive development in the field of financial technology today. For some people in this industry, these digital ledgers are viewed as a gateway or foundation to more innovations in the field. While the consensus is still out on what this recordkeeping system means in the world of Fintech, there is no denying that it helped in the rise of Bitcoin and other cryptocurrencies by providing a tamper-free and safe environment for viewing and tracking transactions. This type.
For years, hackers have been sharpening their tools and scouting for new targets to penetrate cyberdefenses, making cybersecurity a major problem that the United States faces today. Both the public and private sectors remain at risk for both nation-state cyber threats, with Russia, China, Iran, and North Korea leading the list; as well as non-state cybersecurity threats such as terrorists and criminals. Considering the gravity of the danger every cybercrime poses, what steps has the government been doing to address such threats? What Has Been Happening The recent.
Considered the most important development in data privacy regulation in two decades, the General Data Protection Regulation or GPDR has taken effect on May 25, 2018. The regulation was up for debate for four years before it was approved in 2016, with the enforcement date set this year. This means that organizations who failed to comply within two years may face heavy fines. What exactly is the GDPR? The GDPR is a rule passed by the European Union that standardizes data protection laws across all 28 EU countries..
In the financial space, anything unregulated and unregistered would cause doubts and uneasiness. In the case of cryptocurrencies, such as bitcoin, financial regulators all over the world have started to find ways to oversee the blockchain, or the record of all cryptocurrency transactions, as well as to address the irregularities presented by these virtual currencies that mostly bypass financial firms, exchanges, and regulated banks. The most popular of all cryptocurrencies, bitcoin, chiefly operates outside of the conventions of a financial system; and this worries regulators as it has.
Technology has come a long way. The advancement of technology has paved the way for much more development in the fields of medicine, transportation, economics, finance, and many more. Along with the multitude of benefits that came with the rapid growth of technology came some issues, one of which is cybersecurity. Many businesses today rely on technology for the majority of the processes that occur within their organization. From simple document filings to multi-million financial transactions, companies rely on technology to make sure that these tasks get accomplished..