While Ethereum Classic (ETC) developers claim yesterday’s “selfish mining” was not a 51% attack, Coinbase is reporting that nearly a half-million dollars worth of ETC was double spent. Another week, another hack.
We know the cryptocurrency market is particularly vulnerable to such attacks given the lack of regulations and oversight. Yet even in our “traditional” digital lives, which are supposed to be more tightly governed, no week passes without news of another (or many) hacks compromising our security, data, and identity.
In fact, we’ve become numbed to these reports, until the hack affects us personally. Unfortunately, most of us don’t even know how or if our information has placed us in compromising situations. Recovering stolen money can prove impossible, even if done so through your bank, which is supposed to have safeguards in place. Add in the marketing and political blitzes pieced together from stolen data and we’re all effectively swimming in a sea of misinformation crafted by shady agents, fomenting distrust in the system and each other.
Blockchain was created in part to address the problems of centralization, but we are nowhere near an end. Just last week, TechCrunch predicted that 2019 will be worse than last year. Last month, SplashData reported on the worst passwords of 2018. The top five are 123456, password, 123456789, 12345678, and 12345. The fact that anyone uses these show how little many of us take our security.
Rubica was founded by CEO, Frances Dewing, who built and directs the team’s core operations, and President, Roderick Jones, who’s previous professions include focusing on international terrorism with Scotland Yard. The Rubica team has worked with the NSA, US Navy, Pentagon, and White House. The company focuses on detecting threats before they strike.
During our talk we discuss the need for security and privacy in an age where too many people pay too little attention to it. As Frances says, “Security is the one thing you should never sacrifice.” We discuss the dangers of giving up access to your data for “free” services, consumer privacy laws, and whether or not blockchain is really secure.
Rubica offers a threat detection service as well as a consumer insurance program. By clicking this link, RChain community members receive 50 percent off the company’s two most popular plans.