Data443 Risk Mitigation Inc (ATDS)

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Audit dead in a decade?

"Accounting professor David Yermack thinks the audit profession may be dead in 10 years.

At a roundtable discussion held at New York University on Oct. 30, Yermack, who is a legal, economics and finance expert and the Albert Fingerhut Professor of Finance and Business Transformation at NYU's Stern School of Business, based his observation on the role that artificial intelligence and blockchain are taking in audit.

“The distributed ledger reduces the need for audit by 97 percent,” he said. “Auditors in the future will be competing on the basis of productivity, which will essentially mean who has the fastest hardware and software. And fraud, in the classical sense, will be all but impossible.”

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https://www.accountingtoday.com/news/audit-dead-in-a-decade?feed=00000158-20c2-d6a2-adfb-70eb38500000

How and why blockchain technology is a tough nut to crack for hackers

"The blockchain technology fundamentally offers a much more secure way of transacting as its inherent traits of being a decentralized, distributed ledger means attackers cannot target a centralized, vulnerable, singular node.

The first six months of 2017 saw more data lost or stolen than through the entire of 2016, standing at 1.9 billion.

Litigation, the cost of repair, a fall in stock prices, a loss in brand value and anxious customers are some of the massive after-effects of a data breach.

Data protection today is one of the most pressing concerns for entrepreneurs and executives all over the world.

All businesses and government authorities worldwide are looking for ways that could make their information systems cent percent hack-proof.

Blockchain technology is what everyone is looking up to."

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https://www.moneycontrol.com/news/technology/how-and-why-blockchain-technology-is-a-tough-nut-to-crack-for-hackers-3099231.html

XRP is the “fastest on the planet”, will solve for lack of liquidity, reveals Ripple’s Dilip Rao

"Ripple has long been hated in the cryptocurrency community for using the technology to work with banks and supplement existing financial institutions and regulations. They recently elaborated on this form of approach, with Dilip Rao, their Global Head for Infrastructure Innovation, speaking at the Global Islamic Economic Summit in Dubai.

Rao revealed how blockchain and Distributed Ledger Technology were said to be the “solution to all of our problems”. He then went on to speak about a “source of truth that does not have a central authority”, an innovation in the blockchain space, and then looked at how they could use that to solve “real-world problems”. He stated:

“Ripple has been working with banks rather than against them for the last five years to develop a solution that will be acceptable to them meet the compliance requirements of regulators around the world to then deliver a high-speed real-time cross-border payment platform.”

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https://ambcrypto.com/xrp-is-the-fastest-on-the-planet-will-solve-for-lack-of-liquidity-reveals-ripples-dilip-rao/