IT Insights

Facebook messenger: the battle over end-to-end encryption

A numerous number of charities and the UK government itself, are urging the British public to put pressure on Facebook, to prevent the introduction of end-to-end encryption (E2EE) on its Messenger service. The public dilemma is fierce, as privacy campaigners and tech giants argue the system is required to protect personal privacy and data security. However, on the flip side of that argument, the campaign says this new encryption will put more of societies’ most vulnerable at risk to online predators, such as children. What is an end to end encryption?; End-to-end encryption means that only you and the person you’re talking with can read or listen to what is sent and no one, not even Facebook, can read what is being sent. The reason why this is such a heated topic is due to the dilemma; whether there is a trade-off between public safety and privacy.

Samsung adds non fungible token trading app to its tellies

Recently Samsung has given its smart television range the ability to perform simple trade in non-fungible tokens (NFTs); the blockchain- dependent certificates of authenticity for digital assets. The app is offered within 3 of Samsung’s models; Micro LED, Neo QLED and The frame.

System Updates

Cash management and intercompany accounting capabilities enhanced with NetSuite 2022 Release 1 sneak peek

Controlling costs and managing cash flow are primary to a successful business. It explains why NetSuite 2022 Release 1 includes an enhanced feature that helps make cash management easier. This release also includes intercompany accounting and payment management capabilities designing to aid and fluctuate the efficiency of financial processes, which is a key priority for many organizations. The Cash 360 dashboard, available with NetSuite 2022 Release 1, helps give clients real-time insights into their current cash position and near-term cash flow. This helps proving information at their fingertips and helps business leaders make faster, better- and well-informed financial decisions.

NetSuite 2022 Release 1 adds cash flow and project dashboards, warehouse management efficiency and more

NetSuite has been waiting for almost 2 years to see when and how this new NetSuite 2022 Release 1 includes the Cash 360 dashboard which enables you to manage cash flow by proving a real-time view of their cash position and aid in generating fast and accurate near-erm cash flow forecasts. The new project 360 also includers bringing together every aspect of a project into a single workspace within SuiteProjects and provides project managers visibility into all project-related information, which includes the date needed to help and manage clients, project, resources, and financials, helping project managers who have a multitude of projects, deliver them on time and on budget. Features for NetSuite WMS, include a variety of zone pick and merge functions as part of single and a plethora of order picking processes, which helps improve warehouse management controls for the added efficiency.

Cybersecurity Announcements

China to subject firms to cybersecurity test before foreign IPOs

China’s Cyberspace Administration will be applying new rules for firms that hold date for more than 1 million users. With tighter restrictions, the Chinese Cyberspace Administration proposed that the security review will put a focus on risks of data being affected, controlled or manipulated by foreign governments after overseas listings. The new rules governing the use of algorithm recommendation technology will also be implemented from March 1, the CCA said in a separate statement. China’s cyberspace regulators are imposing together restrictions on data collection and date storage. Moreover, two other new sets of rules such as The Data Security Law and the Personal Information Protection Law, which helps in covering data storage and privacy respectively, went into effect last year.

Crypto crime trends for 2022: illicit transaction activity reaches all-time high in value, all-time low in share of all cryptocurrency activity

Based on Chianalysis, cyptocurrency-based crime activities recorded a significant increase, with illicit address receiving $7.87 billion in 2020 to $14 billion in 2021. Across all cryptocurrencies tracked by Chainalysis, total transaction volume grew to $15.8 trillion in 2021, up 567% from 2020’s totals. It indicates more cybercriminals are using cryptocurrency. One type of cryptocurrency thefts is DeFi-related thefts, with roughly 2.3 billion of the funds stolen from DeFi protocols. Most instances of theft from DeFi protocols can be traced back to errors in the smart contract code governing those protocols, which hackers exploit to steal funds.