Need for Cryptocurrency Standards

Philip Raymond, Co-chair of CRYPSA, a Cryptocurrency Standards Association based in the United States participates in Risk Roundup to discuss the Need for Cryptocurrency Standards. Need for Cryptocurrency Standards Cryptocurrencies are on the rise! With the advances in blockchain technology, we are on the doorstep of a whole new digital world, where there would likely be no traditional banks, traders, brokers, or any other middlemen involved when individuals across nations are dealing with money. However, the rapid advances in cryptocurrencies are bringing complex, chaotic, and challenging times for each nation: its government, industries, organizations, and academia (NGIOA). As cryptocurrencies are getting deeply embedded across the global financial system, their crowded interconnections within and across NGIOA are catching nations off guard. Each cryptocurrency connection and its inter-connectedness and interdependencies within and across the global financial network brings its own security challenges and risks. So, the question is how do we identify, evaluate and understand these independent and interdependent cryptocurrency risks that will likely impact each one of us, each individual, and entity across NGIOA. How do we manage these risks? While there is growing excitement that cryptocurrency marks the beginning of a new era, the future of cryptocurrencies or any other digital currencies remains shaky until its very foundation and security risks are addressed and managed effectively. The time is now to address the need for cryptocurrency standards. For more please watch the Risk Roundup Webcast or hear the Risk Roundup Podcast About the Guest Philip Raymond is CEO & co-chair of CRYPSA (Cryptocurrency Standards Association). He is also the principal & co-founder of Vanquish Labs, the Massachusetts, Internet security vendor. Raymond has been the subject of feature stories in The Wall Street Journal, Forbes, National Public Radio, Boston Business Journal, Network World, PC Magazine, PC Week, and Wired News. He is a frequent feature of syndicated radio shows. He is currently involved with the following projects; CRYPSA (Cryptocurrency Standards Association), Blind Signaling and Response (Limits use of personal data collected by cloud services), Writer/Lecturer/Security consultant, especially on Bitcoin and Privacy & Anti-forensics and RDDC (Reverse Distributed Data Cloud): Unlimited secure storage spread across peers. Access in real-time as a torrent. Mr. Raymond founded and managed several ventures before starting Vanquish Labs. He was founder & Chairman of IMCO Electronics (originally Architectural Communications Inc), a LAN manufacturer and a preferred network solution for industrial, HVAC, building & environmental controls. He founded Peripheral Vision (later, International Bureau of Software Test, Inc), the market leader in software testing, with contracts from IBM, AT&T, and Xerox. IBST was acquired by Prentice-Hall/Gulf & Western. He is a writer for the Sophos security newsletter “Naked Security”. Mr. Raymond is also on the Advisory Board of the Lifeboat Foundation and at Heliotronics, Inc, a manufacturer of grid-connected power inverters. Mr. Raymond holds a Master’s & a Bachelor’s degree in Electrical Engineering from Cornell University. The Cryptocurrency Standards Association (CRYPSA) publishes standards and promotes practices that facilitate the use of Bitcoin in mainstream commerce. As a working group of the financial services industry, CRYPSA seeks to establish, measure and validate the safety & security of cryptocurrency wallets and transactions. CRYPSA certification and transaction validation is a customer assurance and accountability mechanism in the emerging economy of decentralized, p2p transactions. About Risk Group Risk Group is a leading strategic security risk research and reporting organization. Copyright Risk Group LLC. All Rights Reserved Reference Episodes: The Rise of Initial Coin Offering (ICOs)- Risks and Rewards Emerging Technologies Geopolitics Cashless Economy – Risks & Rewards Protecting Cryptocurrency Blockchain based Insurance Model for Managing Aging Infrastructure Risks Smart Contracts – Risks & Rewards Blockchain & Machine Learning Based Content Platform Blockchain Based Risk Transfer Blockchain Revolution – Risks & Rewards Securing the Internet of Things using Blockchain Convergence The Convergence of Blockchain and Internet of Things Blockchain Applications for Emerging Economies Blockchain based Creative Content Collaboration Applications of Blockchain Technology What Should Bankers Know About Financial Technology Blockchain based Network Security Digital Transformation of Financial Industry Will Blockchain Secure the Internet of Things Backing Bitcoin with Physical Gold The post Need for Cryptocurrency Standards appeared first on Risk Group.