With the overnight news on hackers stealing $400,000 (£290,000) of crypto-currency, IT security experts commented below.
David Kennerley, Director of Threat Research at Webroot:
With more and more coins are appearing and alternative uses for blockchain being discovered it’s going to continue to be a high-profile target for cyber criminals. It’s not just financial transactions like Bitcoin using blockchain, but also decentralised apps and cloud storage have already been developing in the space. Without a doubt blockchain technologies will be a big part of the future, but it will take some years for the disruption of contemporary tech to take place.”
Dr Daniele Bianchi, Assistant Professor of Finance and Researches Cryptocurrency:
“The situation is not the same across countries however. While the South Korean and the Chinese governments are planning to take decisive steps in monitoring and limiting trading in cryptos, the Russian government has drafted a new bill for the legalisation of cryptos trading in authorised platforms.
“We should expect a great deal of heterogeneity in the way regulators will face cryptocurrencies trading. The bottom line is that, although governments need to put in place efficient regulations that prevent investors getting into difficult situations, the way such regulations are drafted will largely depend on their view of cryptos as a useful financial innovation rather than a threat.”
The opinions expressed in this post belongs to the individual contributors and do not necessarily reflect the views of Information Security Buzz.