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On 11th February the U.S government has given the cryptocurrency users some information to chew on.
On 11th February the U.S government has given the cryptocurrency users some information to chew on. The advice was mostly considering some industries, but the cryptocommunity had its own opinion on what these guidelines might actually be.
The provided cybersecurity framework is covering many aspects on how to make the work with digital coins effective and safe. The main idea though, is how to prevent the ever-evolving attacks form hackers.
So, the government has finally decided to play a part in the spreading of cryptomovement? Perhaps, it is a first step on the Officials’ behalf to finally drop the cold war between the “rebellious” digital currency users and “imperial” governmental power. That is how it looks like in the eyes of many users. Especially those newcomers, who had just started toying with Bitcoin, but has already become the victims of the recent attack that halted the work of such giant as Bitstamp and Mt.Gox.
However, there is another opinion that, on the contrary, believes the framework to be a vicious way to impose regulations on the digital coins. Randal Stephenson, the CEO of AT&T openly said that the fear of regulation could lead the companies to increase their cybersecurity.
Mr. Stephenson believes though, that the weak spot of any system is the carelessness and the lack of education of employees, which have no idea what to do if the hacker attack occurs. I might add that there had been many cases when the hack was continually breaking the system for hours, before workers noticed that something gone wrong.
Maybe not the best example, but the recent Silk Road 2 scandal is exactly what was described before. As the money returning system was automatic, without the involvement of a responsible employee, the so-called double-withdrawal attack using transaction malleability has devastated the SR2 escrow wallets.
The White House tips also got lot of negativity due to the lack of actual help from government. Anyway, I don’t see a problem yet, a guideline is purely voluntary and no one would make the industries do it the government way. Yet.
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One fine body…