Wednesday, June 26, 2019

Cayman vies to lead blockchain, digital ID innovation

The implicit promise of quiet relaxation that comes with retirement has been far from the reality for former Equifax CEO .The fallen executive’s career came to an abrupt end in September following a security breach that implicated the personal data of more than 145 million Americans.

Disruption: How stock portfolios can benefit from technological change

Electric cars manufactured by Tesla are still a rarity on the roads in the Cayman Islands, but on the stock market, the U.S. carmaker already is firmly in the fast lane.

Cybersecurity 101: 2017 edition

You would have to be stuck on an island with no internet connection to not be aware of cybersecurity issues in the news. But just in case, here is a recap of what is noteworthy: In May, the WannaCry ransomware infected an estimated 230,000 systems in more than 150 countries. Technology vendors reacted with patches, updates and other mechanisms to detect and prevent further spread of the threat.

Ransomware wars

It begins much like any other day at the office: you are working away on your computer when you receive an email informing you that an invoice has arrived. It directs you to download the invoice using the link provided. Without giving it much thought, you download and open the file.

Sophisticated ransomware attack sends warning to Cayman companies

With the Caribbean’s hurricane season under way, businesses have a clear reminder to re-evaluate their storm response and recovery plans. Meanwhile, another major ransomware attack sent a reminder to dozens of businesses across the globe late last month that dangers beyond Mother Nature can threaten operations.

SIRI co-founder: AI still too narrow to be feared

There is no shortage of fears over the rise of artificial intelligence. Both theoretical physicist Stephen Hawking and Tesla founder Elon Musk have warned that the development of full artificial intelligence could spell the end of the human race. Futurist Ray Kurzweil predicted in his book “The Singularity is Near” that by 2029 computers will have human-level intelligence.

Financial centers targeted in sophisticated phishing scams

Recent email scams directed at Cayman Islands government and law enforcement point to a general rise in sophisticated phishing efforts, warns eShore managing director Polly Pickering. While many businesses still feel immune to such attacks, Pickering encourages professionals to learn from high-profile cases like the Panama Papers before hackers hit at home.

Telecommunication: Flow Caribbean president looks to upgrade infrastructure

As broadband providers seek to step up speed and service, Flow’s Caribbean president, Garfield Sinclair, has his eye on renovating island infrastructure. He considers the Cayman Islands one of his top Caribbean markets, alongside Jamaica, Barbados and Trinidad. Despite the islands’ small population, their GDP has made them a priority for upgrading high-speed, LTE service.

For hackers, humans are easiest targets

At the annual gathering in Las Vegas for hackers and cybersecurity experts, people got a look at the newest hacks and vulnerable technologies, from breaking into Tesla cars to holding hostage a fancy new home thermostat until a homeowner pays a ransom. Despite the digital skills hackers showed off for taking control of computer systems, humans remain the single easiest way to break into any computer network.

CIMA, industry work to firm up computer networks

More than a dozen people from government, the Cayman Islands Monetary Authority and private companies gathered for a weeklong cybersecurity boot camp last month hosted by Cayman’s eShore.

Protecting people, systems and data

The corporate disaster recovery team at management consultant and financial adviser Deloitte & Touche are proud of what they have created, locked away inside Cayman’s humble five-story, hurricane-proof Citrus Grove office block.

Data protection, recovery critical to Chamber members

The “TechTarget” website is adamant about the five components of disaster recovery and business continuity – and the last ranks among the most critical: “The care and feeding of your plan.”

Protection, recovery at Camana Bay’s Data Centre

The roster of clients is modest, but Dart’s Disaster Recovery and Data Centre is immense, sophisticated and considers itself among the region’s leading data-protection facilities.

Tracking storms, saving lives

For the better part of a century, a beneficial alliance has linked the U.S. scientific enterprises that track and study tropical storms and extreme weather and the Caribbean nations that suffer most from their wind and flooding.

Financial services making big bets in blockchain

A ship pulls into port with a big delivery. A GPS system confirms the ship is in port and triggers immediate payments to the shipping company and the supplier. The payment, instead of taking two to five business days to cross borders, shows up almost immediately in the supplier’s bank account, with all the agreements and transactions confirmed in seconds across a blockchain system, using cryptography and a distributed ledger instead of a correspondent bank.

Cybersecurity: Global, CIMA regulators spurred to action

It’s very much a work in progress as the financial industry finds its way along the information highway – too often, the “misinformation highway” – to keep pace with the “bad guys.”

Physical security: Think global, act local

Stuart Bostock’s Security Centre Ltd. has protected a dozen high-profile personalities, and continues to prosper in the face of global threats – bombings, personal attacks and multiple casualties.
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