There is no doubt that the history of blockchain and cryptocurrencies has been checkered, as major events, such as the 2013 shutdown of Silk Road, 2014’s Mt. Gox closure, the 2017 disappearance of Ruja Ignatova and the 2020 Telegram ICO fine and SEC settlement, have shown. The birth of the internet of value has not been without incident.
I’ve been a tech investor for more than 20 years, and I have a deep appreciation for how new technology develops. In recent years, I’ve been interested in Web3 and cybersecurity investment opportunities, and I hold bitcoin and ethereum. Over my career, I’ve observed that tearing up an established rulebook with new technology, such as blockchain, rarely happens without a lot of uncertainty. What have we learned so far? Many challenges are often conflated, so how can we distinguish these from each other?
To answer those questions, let’s look at the role of cybersecurity, scams, illegal activity and regulatory intervention.
Cybersecurity
Cybersecurity must be adapted for a blockchain based world. The famous Mt. Gox hack in Japan led to the shuttering of the exchange in 2014. At its peak, Mt. Gox handled 70% of all bitcoin transactions globally. That incident served as an early warning, but cyber threats remain a persistent threat, and in my view, none more so than ransomware attacks.
Continue reading:
https://www.forbes.com/sites/forbesbusinesscouncil/2022/04/27/tearing-up-the-rulebook-blockchain-and-crypto-adoption-risks/?sh=18398d2a5bcf
I’ve been a tech investor for more than 20 years, and I have a deep appreciation for how new technology develops. In recent years, I’ve been interested in Web3 and cybersecurity investment opportunities, and I hold bitcoin and ethereum. Over my career, I’ve observed that tearing up an established rulebook with new technology, such as blockchain, rarely happens without a lot of uncertainty. What have we learned so far? Many challenges are often conflated, so how can we distinguish these from each other?
To answer those questions, let’s look at the role of cybersecurity, scams, illegal activity and regulatory intervention.
Cybersecurity
Cybersecurity must be adapted for a blockchain based world. The famous Mt. Gox hack in Japan led to the shuttering of the exchange in 2014. At its peak, Mt. Gox handled 70% of all bitcoin transactions globally. That incident served as an early warning, but cyber threats remain a persistent threat, and in my view, none more so than ransomware attacks.
Continue reading:
https://www.forbes.com/sites/forbesbusinesscouncil/2022/04/27/tearing-up-the-rulebook-blockchain-and-crypto-adoption-risks/?sh=18398d2a5bcf
