Category Archives: Global Thread

Nothing more musical than the sunset

By the end of November it will be 2 years since i moved to US explicitly to Richmond Virginia, the first and foremost thing attracted me is its weather and environment. sometimes it becomes incredible to believe whether its natural or not. Some of the shots out couple of hundreds i have shared.

In the middle of rain and sunset it appeared
Moon rising aside sunset
Waves intersection turned Rainbow
Sunset gives fire look

Would you return Crypto to?

Would you return $89m of crypto if accidentally sent to you from CEO office?

Ceo of tech company reportedly asking employees to return digital coins as soon as possible as he mistakenly sent that. $89 million has been unwillingly poured into various accounts is now been demanded back.

Renowned tech site revealed that Coin base customers are very concerned following actions by rogue hackers to drain their crypto wallets. These hacked Coin base accounts are then sold on the Dark Web for anywhere between $100 and $150. The incident is of significance because Coin base is one of the largest and best-recognized digital asset exchange in the world

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Crypto wallet

CNBC reported many customers remain as angry with Coinbase as they are with the attack, based on the level of support they have received. Coinbase’s customer service communications have been primarily via email. In response, many customers are reported by CNBC to have said they struggle to reach company representatives.

Looking into the incident for Digital Journal is Sam Bakken at OneSpan. According to Bakken the incident highlights why the cryptocurrency sector remains vulnerable, as well as a prime target given the relative value of tokenized money.

Bakken explains: “Incidents like this demonstrate that cryptocurrency exchanges need to take a serious look at how they are authenticating users on their platforms and following up on fraud claims. Table stakes would be responding to customer inquiries within a reasonable amount of time, better would be pro-actively notifying customers of fraud, best would be detecting, and stopping the fraud before it occurs.”

In terms of the salient lessons to be drawn from the latest incident, Bakken offers the following insight: “Players in the cryptocurrency space will need to look at the lessons learned by more traditional financial institutions (FIs) and banks when it comes to security – especially as crypto moves into the mainstream with more consumers investing via retail exchange platforms than ever before.”

He adds that vulnerability concerns spread even further: “SIM swap fraud has been used widely by bad actors to gain access to accounts. SMS alone as a form of authentication is innately less secure than other methods – and crypto firms will need to follow suit. Using SMS for multi-factor authentication often puts the onus of protecting customer data on mobile network operators, whose number porting processes are historically not designed to withstand such attacks.”

Despite obvious consumer hesitancy, cryptocurrency exchange sites will continue to be popular. Bakken is of the view that these platforms can, and should, do more to protect their users. He recommends: “Cryptocurrency platforms should be looking to adopt mobile push notifications and binding mobile devices and apps to accounts as an alternative, which have the added benefits of being protected by application shielding technology as well as the latest identity verification technologies such as machine learning and biometrics.”

Retail is shifting from ‘ Brick to Click’

Retail Store Lidl reveals expansion plans for 2021 in the US

Working from home and avoiding nonessential travel are some of the precautions being taken to prevent the spread of coronavirus (COVID-19). As such, it is to be expected that gasoline stations are experiencing a decrease in sales. It is projected that revenue from travel and tourism will fall compared to 2019, with airlines, cruise lines, and rental cars already encountering a drop in year-over-year travel sales. 

The economic impacts of COVID-19? 

Influencing more than just the travel and transportation industries, the coronavirus (COVID-19) is forecast to have many social and economic impacts. Many people would be less likely to go to social spaces and events if the virus were to spread to their community. Most people expect the stock market drop that resulted from the onset of the COVID-19 pandemic to have a lasting impact on the U.S. economy, and a growing percentage of people fear the outbreak will personally impact them financially

Everything on Apps now

The pandemic has accelerated the shift to e-commerce — or “from bricks to clicks” — by about five years, according to data from IBM’s U.S. Retail Index. The numbers show department store sales plunged 75% in the second quarter, though that’s expected to improve slightly for the year to a 60% drop. Meantime, e-commerce is projected to grow by nearly 20% in 2020, and Target, Walmart and Amazon have already capitalized on the shift. The numbers also show a shift in spending priorities, with clothing diminishing while groceries, alcohol and home improvement spending increase.