“But if it’s encrypted, why do I need to login?” the customer across the desk asks me with incredulity.
I realise that I’m about to get into a discussion which boarders on theological and raises passion in both security and business leaders alike. A discussion that I’ve had many times over the last two years, and will have many more times in the near future.
“Because, without authentication, there’s no point to encryption”. I reply, knowing full well that this isn’t an answer that’s wanted, or understood.
With a stifled sigh I start to explain.. Read more…
This week the Ministry of Commerce for The Peoples Republic Of China joins Korea in announcing a new initiative to implement controls on the conversion of virtual to physical currency. The press release on the MOFCOM site highlights the scope of the problem:
According to media reports, the virtual money trade topped several billion yuan (￥1B=US$146M) last year after rising around 20 percent annually.
Though this move seems to be targeted towards individuals bypassing tax payments by transacting online money for real goods and services, it also touches on the greater problems of CyberLaudering and Gold Farming. Read more…