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clrmoney
clrmoney
7/8/2016 11:02:32 AM
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Platinum
Verizon IOT
This is great for verizon being more secure with the IOT= Internet of Things so lets see how secure can they really be.

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Ariella
Ariella
7/8/2016 11:17:20 AM
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Re: Verizon IOT
@Clrmoney no matter what your politics, one thing that the whole investigation into how data was handled under Clinton should drive home is how important security is.

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vnewman
vnewman
7/8/2016 2:39:47 PM
User Rank
Platinum
Re: Verizon IOT
They are smart to be so concerned.  The consumer will likely have hundreds of devices connected when all is said and done - not just the half dozen they have now.  More devices = more potential problems.  Securing where IoT data is stored is just as important.

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Ariella
Ariella
7/8/2016 6:40:41 PM
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Re: Verizon IOT
<More devices = more potential problems.  Securing where IoT data is stored is just as important.> @vnewman exactly! It's smart to be proactive about securing IoT earlier rather than later. 

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mhhf1ve
mhhf1ve
7/8/2016 6:50:27 PM
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Platinum
Re: Verizon IOT
One of the big unsolved problems is how IoT devices get reliable and secure software upgrades. Even savvy hardware manufacturers like Asus aren't doing a great job of securing laptops right now, so it's going to be even worse when Whirlpool tries to make a connected washer/dryer machine. I'm not going to trust any IoT device with a heating element. No IoT toaster oven for me! I can just imagine a hacker burning down every home by setting an internet-connected toaster to overheat....

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freehe
freehe
7/31/2016 12:06:50 PM
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Platinum
Re: Verizon IOT
clrmoney, I agree. I have been a Verizon customer off and on over the years. I would like to see that as well.

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freehe
freehe
7/31/2016 12:10:42 PM
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Platinum
Re: Verizon IOT
I disagree, I think users do think about security but great frustrated when they begin asking service providers questions about security and cannot get answers to their questions or users realize that companies are not focused on security.

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freehe
freehe
7/31/2016 12:13:40 PM
User Rank
Platinum
Verizon IOT Security
It is great that Verizon continues to innovate and take steps to remain a market leader. ThingSpace is a great option for developers.

Analytics has tons of possibiities for companies and IoT. I am glad Verizon is focusing on IoT security because many companies do not focus on security at all until a data breach occurs.

Hopefully other companies will follow Verizon's model and include IoT security in their IoT plans.

 

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mhhf1ve
mhhf1ve
7/8/2016 6:53:21 PM
User Rank
Platinum
Blockchain..
> "Westrup said there would need to be some modifications in blockchain technology in order for it to work in the IoT space..."

Think IBM had a project to try to secure IoT decentralized devices with blockchain technology as a proof of concept. It worked, but I think it may have required too much computational resources for IoT devices to be practical. Imagine all the energy wasted on IoT devices mining for bitcoin....

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Ariella
Ariella
7/9/2016 9:57:06 PM
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Author
Re: Blockchain..
@mhhf1ve Blockchain technology is being applied in a number of ways. For example, someone I know who was very keen on Bitcoin is one of the founders of a company applying blockchain secured technology to real estate transations.  and Verizon Ventures' Ed Ruth expresses great enthusiasm for the technology in http://www.verizonventures.com/blog/2015/08/verizon-ventures-helps-filament-enable-a-decentralized-iot-economy/  in which he wrote the following:

According to Filament co-founder Eric Jennings, "A decentralized system of billions of devices – each independently interacting and transacting value with each other – will create a massive opportunity of new business models."

What's so interesting about what Eric and his team are building is how the combination of end-to-end encryption with private-key crypto hardware shows great potential for generating revenue from transactions...in effect, monetizing the internet. With Filament's technology stack, smart factories or smart cities can be enabled in a way that meets the needs of the market for a fraction of the traditional costs. As IoT and the power of embedded computers continue to proliferate beyond wearables and the home, we look forward to working with Filament to explore the full potential of blockchain technology and role it will play in device decentralization. 

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mhhf1ve
mhhf1ve
7/10/2016 3:39:28 AM
User Rank
Platinum
Re: Blockchain..
Real estate transactions are almost ideal for blockchain verification because the transactions don't need to be done too quickly and the values of the transactions are large enough for the computational resources required to be negligible in comparison. Bitcoin is having problems with transactions that need to be verified within seconds (because Bitcoin's blockchain needs time to get its consensus algorithm to complete). Bitcoin also doesn't do well for a network of only "microtransactions" because then the resources needed to do all the computations is too expensive for the system.

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Ariella
Ariella
7/10/2016 10:12:51 AM
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Re: Blockchain..
@mhhf1ve we talked about those points in the interview. That's part of why he doesn't think blockchain is an immediate solution. I've written a number of articles about digital currency that touched on that including the reason why some see potential in Ripple.  

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mhhf1ve
mhhf1ve
7/10/2016 4:39:30 PM
User Rank
Platinum
Re: Blockchain..
Thanks for the info. Ripple sounds intriguing, but as with all of these cryptocurrencies -- it needs to be battle-tested to see if it's really secure. Ethereum is still working on the security bug that allowed someone to siphon a large amount of cryptocurrency out of its DAO. These sorts of things are bound to happen in the early days as the bugs get worked out, so... it may be some time before banks or other institutions deploy any kind of blockchain or concensus algorithms. I suppose at some point we have to try to compare the existing banking method's security vs blockchains....

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Ariella
Ariella
7/10/2016 7:59:27 PM
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Author
Re: Blockchain..
@mhhf1ve certainly, banking systems are not completely secure. As we learned when my daughter's wallet was stolen, if you get someone's debit card, you can use it for payments even without entering the PIN. True, the bank replenished that amount to the account, but if it wasn't out the money itself, then the merchant that sold goods to the person who got the card is out the money, and that person did get away with fraud because the police weren't interested in pursuing them despite having a clear trail of exactly where they shopped and when.

As for Ripple, from the start, it positioned itself somewhat differently from Bitcoin as a possible complement to rather than replacement for banks.  Consequently, it has been accepted for payment transfers by a number of banks, as you can see from the articles here

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mhhf1ve
mhhf1ve
7/10/2016 8:44:19 PM
User Rank
Platinum
Re: Blockchain..
I have no doubt that blockchain or consensus algorithms are going to make their way into major financial institutions... someday. The current systems of ACH and EFT are pretty archaic in comparison, but they have a history of workarounds that... do kinda work. I'm curious how much money is being sent globally as remittances using bitcoin or blockchain currencies -- and how effectively bitcoin (or ether or dogecoin whatever) is converted back into "real" currency. Volatility seems to be a big problem to adoption for the general public still.. but closed networks for banks might be a good use case for things like Ripple.

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Ariella
Ariella
7/10/2016 9:26:56 PM
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Re: Blockchain..
< I'm curious how much money is being sent globally as remittances using bitcoin or blockchain currencies -- and how effectively bitcoin (or ether or dogecoin whatever) is converted back into "real" currency. > @mhhf1ve interesting question. Honestly, I've never used Bitcoin myself, but I do know someone who said he used it to transfer the currency of his country into American dollars. I believe he said it was more cost-effective and faster to do it that way. However, because of the way in which bitcoin (the currency rather than the system itself) fluctuates many people use it as a speculative instrument. That actually impedes its usefulness as a currency, something that came up in the failure of certain people's plans to pay their employees in bitcoin (that I reported on in my article for CFO). However, the current focus on blockchain rather than Bitcoin as a currency system may determine a new form of influence than that which was originally envisioned by Bitcoin enthusiasts. 

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mpouraryan
mpouraryan
7/10/2016 11:59:09 PM
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Platinum
Re: Blockchain..
I would only note this:  It is not a question but if, but when--the march to a cashless society cannot be stopped.      

 

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Ariella
Ariella
7/11/2016 8:46:12 AM
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Re: Blockchain..
@mpouraryan well, it's an interesting thing about that. There are still a number of stores that take cash only, and some that insist on cash for transactions under a certain amount. There are still gas stations that charge less for payments made in cash. While you have that, there is motivation to keep cash around. However, in other parts of the world, there have definitely been movements away from paper respresentation of money. I believe Finland, for example, got rid of paper checks several years ago. 

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mpouraryan
mpouraryan
7/11/2016 12:22:56 PM
User Rank
Platinum
Re: Blockchain..
One thing is for sure:  Between the rise of Mobile Payments (and the evolution of cell phone as one's wallet) and the evolution of BitCoin, we have scratched the surface.   The question of Security and Reliability is a profound concern--for instance the rollout of the "Chip" for credit cards shows that the road is perilous at best.

 

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Ariella
Ariella
7/11/2016 12:41:35 PM
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Re: Blockchain..
@mpouraryan absolutely! We really need to advance on the security front. 

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mpouraryan
mpouraryan
7/11/2016 12:43:08 PM
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Platinum
Re: Blockchain..
The question is whether we can, though?    

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batye
batye
7/12/2016 10:27:33 AM
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Platinum
Re: Blockchain..
@Ariella I would say we need to rethink security from the ground up...

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Ariella
Ariella
7/12/2016 3:24:52 PM
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Re: Blockchain..
@batye I agree 100% It has to be an integral part of design and engineering.

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DHagar
DHagar
7/12/2016 9:14:55 PM
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Platinum
Re: Verizon Takes Multiple Approaches
@Ariella, great article.  They are definitely on the right track and I believe that their Thingspace, providing a living platform, is a great design.

Interesting point about their security acquisition in 2007 - I had not realized that.  If they have that core capability in-house now, that will be golden for them.

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Ariella
Ariella
7/13/2016 8:46:05 AM
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Re: Verizon Takes Multiple Approaches
Thank you, @DHagar, and yes, I'd say that was a very forward-thinking mnove on Verizon's part.

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batye
batye
7/12/2016 10:33:41 PM
User Rank
Platinum
Re: Blockchain..
@Ariella the problem this days each Co. trying to save any way possible and it affecting security at the end...

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Ariella
Ariella
7/13/2016 8:47:33 AM
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Author
Re: Blockchain..
@batye, I agree many companie do cut corners on things like that and even downplay the possibility of threats. But that is false economy when there is a serious breach that can really damage a business for a long time afterwards. 

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batye
batye
7/13/2016 10:14:24 AM
User Rank
Platinum
Re: Blockchain..
@Ariella I would call it some Co. living in fools Paradise... but after the breach they cry murder...

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Ariella
Ariella
7/13/2016 11:25:21 AM
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Re: Blockchain..
@batye exactly, and locking the barn door only after the horses have escaped is not the way to go!

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batye
batye
7/13/2016 11:34:25 AM
User Rank
Platinum
Re: Blockchain..
@Ariella glad we agree, but I do hope Co.'s will change it way and put security on the first page of must have/do list :) 

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DHagar
DHagar
7/13/2016 5:39:52 PM
User Rank
Platinum
Re: Blockchain..
@Ariella, great points about false economy and a sense of security. 

Those companies and leaders are only thinking of purchasing technology, and ignoring the fact that the networks today present an ongoing, and even growing, threat to them directly and their customers.

I believe it will eventually become a recognized financial risk and be part of a corporate "risk assessment" as to the potential threats they face - either by not being prepared and having built the right infrastructure or even worse, by not recognizing the threat.

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Ariella
Ariella
7/13/2016 6:57:43 PM
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Re: Blockchain..
@Dhagar absolutely denial of the existence of such threats to security is not going to cut it. 

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dcawrey
dcawrey
7/10/2016 10:58:43 AM
User Rank
Platinum
Re: Blockchain..
I'm very interested in what blockchain technology can do to help the security of devices. We're hearing a lot about blockchain being used in IoT, but I think it's best suited for slower transactions that occur in things like real estate. 

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