Blockchain technology is seeing increasingly wide use internationally, but security issues are becoming a major problem.

Blockchain is a public electronic ledger that can be openly shared among users and that creates an unchangeable record of their transactions. Each transaction, or “block”, is time-stamped and linked to the previous one. Each block is then linked to a specific participant. Blockchain can only be updated by consensus between users in the system, and when new data is entered, it can never be erased, edited, adjusted, or changed.


Continue Reading

risksigniStock_000016809464_LargeNew York proposed first-of-its-kind cybersecurity regulations on Sept. 13, 2016. The proposed rules would apply only to banks, insurers, and other financial services companies regulated by the New York Department of Financial Services (“DFS”). However, the sweeping nature of the regulations and New York’s role as a banking center are likely to make the rules a model for other states.
Continue Reading