Pete Banham

Following the news from the Bank of England on its new Systemic Risk Survey, the comments from Pete Banham, cyber resilience expert at Mimecast. Due to the significant amount of legacy systems that financial services hold, it is no surprise that cyber-risks and fraud are rising for these firms. Legacy systems make it difficult for financial institutions to implement change, let alone embed new processes and technology to help with cybersecurity.

Julian Zawistowski, the founder, and CEO of Golem, recently stated that Ethereum is by far the most promising blockchain platform and it doesn’t have any real competitors in terms of applicability and future potential. Zawistowski’s statement came shortly after Golem, the 47th largest digital currency in the world (by market cap), had started trading on South Korea’s largest cryptocurrency exchange Bithumb.

The recent run-up in the price of Bitcoin and other cryptocurrencies has sparked renewed interest in these virtual coins, but until now, there has been a major sticking point. While anyone with a credit card or a bank account is free to buy those virtual coins, their creation is largely the province of geeks and the technologically inclined.