News Tagged "Cyber Protection Magazine"

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Bruce Schneier on the Crypto/Blockchain Disaster

  • Lou Covey
  • Cyber Protection Magazine
  • August 11, 2022

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It’s a bad year for the reputation of cryptocurrency. The foundation of cryptocurrencies, blockchain, has not faired much better. The IBM Blockchain page promises to deliver trust, security, and cost savings, there are few examples where any of that is true. That assessment might be generous.

While some of the older cryptocurrencies, like Bitcoin, have resolved some security issues. However, the intrinsic value of any currency depends on its reputation for stability, especially when applied to commerce. The volatility of all cryptocurrencies, along with almost weekly stories of stolen wallets, has destroyed that value…

Sidebar photo of Bruce Schneier by Joe MacInnis.