🚀 Dear SelfKey Astronauts,
Cybersecurity threats are constantly evolving, and data breaches can have devastating consequences. We must all be vigilant when it comes to sharing personal data online, such as our full names, home addresses, IDs, or social security numbers.
It's not just big corporations that are at risk, though. Anyone can become a victim, even you. And, if you become a target of identity theft in the aftermath of a cyberattack, the consequences could alter your life forever.
Data breaches and cyberattacks are not new and their irreversible negative consequences to those whose data was compromised are widely known.
However, they are not discussed enough, which may be one of the contributing factors to people leaving their valuable personal data vulnerable. Even innocent acts on the internet, such as clicking on a link sent by a friend or family member, can have devastating consequences.
Successful cyberattacks can leave people struggling for endless hours, days, or even weeks trying to repair the damage a data breach could bring upon them.
To prevent data breaches, various decentralized solutions could be implemented to put the individual in control of their digital identity. Self Sovereign Identity, for instance, may reduce the risks and frequency of data breaches and enable individuals to safely operate in the digital world.
SelfKey is striving to develop the best identity verification solution to prevent identity theft and fraud in the future, so that individuals may interact safely in a secure, decentralized space. With a SelfKey iD, the chances of data breaches may be considerably reduced, thus individuals may not have to worry about identity theft and its consequences.
The consequences that we don’t talk about enough can be any kind of criminal activity accusation, ranging from credit card and bank fraud, to murder.
The case of Australian citizen Nicole McCabe is a harrowing example. She found herself on a list of suspects in an assassination plot in Dubai after her private information was compromised. Cybercriminals did not physically steal her passport; they accessed her information from the system, forged her passport, and left her to bear the consequences of their crime.
Unfortunately, this is only one example out of hundreds of thousands. Any one of us can find ourselves taken by surprise by the aftermath of a cyberattack in which our valuable private data was compromised.
It is therefore crucial for stronger security measures to be adopted and for the individual’s privacy and security to be prioritized.
Decentralized systems may be a much better and safer alternative to centralized systems with weak security measures. SelfKey DAO may provide that secure space for individuals to interact safely and securely in the digital world.
⚡The SelfKey DAO Whitepaper can teach you more about the benefits of decentralized systems.
⚠️ Data Breaches: Risks and Consequences
Sharing private information on the internet has become so normalized that people seldom ever stop to think of its negative impacts. Despite being a routine practice, it doesn't necessarily mean it's secure. Data breaches occur daily, and anyone can fall victim to them at any time, with some breaches resulting in irreversible harm to those whose data was compromised.
Read more → about Data Breaches, what causes them, and what are the negative impacts they bring.
🙌 The Benefits of SelfKey iD
SelfKey iD presents a groundbreaking method of identity verification that has the potential to be quicker, more secure, and less expensive compared to conventional KYC methods. It may also be the key towards a safer, decentralized future with its focus on the individual’s privacy and security.
Read more → about the advantages of SelfKey iD, its features and benefits compared to traditional KYC.
📰 Cybersecurity and the duality of AI
While AI can help cybersecurity workers tackle tasks such as code review and incident response, the rapid pace of technological advancement means that cybercriminals will also benefit from the technology.
Despite this, the use of large language models, such as GPT4, can help security workers outsmart cybercriminals by learning the "normal behavior of users in the organization and then detecting deviations from the norm, which may indicate a threat actor’s social engineering attempts", according to Dan Shiebler, head of machine learning at Abnormal Security.
"It does not matter how slowly you go as long as you do not stop." - Confucius
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Note:
We believe the information is correct as of the date stated, but we cannot guarantee its accuracy or completeness. We reserve the right not to update or modify it in the future. Please verify all information independently.
We use the "KYC" term here for general information purposes, without reference to particular legislation. Please check the laws relevant to you and contact us for the details.
This communication is for informational purposes only. It is not legal or investment advice or service. We do not intend to offer, solicit, or recommend investment advisory services or buy, sell, or hold digital assets. We do not solicit or offer to buy or sell any financial instrument.
This document may contain statements regarding future events based on current expectations. However, some risks and uncertainties could cause results to differ. The views expressed here were based on the information that may change if new information becomes available.
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