Lessons From Israel In Stopping Ransomware

Please see my new article in The Times of Israel called “Lessons From Israel In Stopping Ransomware.”

Israel is a small, but powerful nation that wants to stop attacks before they get to their door, and indeed, their lives depend on that. We can learn from Israel’s military doctrine of deterrence through overwhelming strength, unity, and disincentivizing the attackers to inform other security issues, such as ransomware attacks. I believe that the answer lies in a public-private security partnership financially backed by the government.

First, companies voluntarily join a public-private security partnership in which they adhere to higher security standards and oversight as well as pledge not to pay ransomware. Additionally, these companies are placed on a public list and given a badge or seal of approval/logo like Brink’s Home Security or ADT to display that indicates they are “fortified,” and in this case, that they won’t pay any ransom, and are backed by the government.

Second, the government provides an incentive for companies to participate in the public-private partnership and not to pay ransomware. The incentive provided is that the companies are backstopped (insured) by the government in the event of a ransomware attack to them. This is similar to ransomware insurance, but the difference is that the cost to companies would be a fraction of what they would otherwise have to pay. The benefit to the taxpayer is that the market for ransomware dries up with companies that have pledged not to pay. As the program become universal, there is no one left for the ransomware attackers to target.

(Source Photo: https://pixabay.com/illustrations/ransomware-cyber-crime-malware-2321110/)

The Fallacy of Bitcoin

Bitcoin is a failure waiting to happen.

It is being sold as a hedge against not only inflation, but also doomsday!

However, Bitcoin is not gold which can be sold or bartered in a true doomsday scenario.

Bitcoin is a digital cryptocurrency and as such it is dependent on technology.

In a doomsday scenario, there is a great chance for the interruption for extended periods of time of our technical infrastructure whether through terrorism, war, cyber attack, or an electromagnetic pulse. 

Even with Blockchain distributed ledger, there is a high probability that you will NOT be able to access or trade Bitcoin from any digital wallet if the infrastructure is severely or broadly damaged. 

Your gold watch, ring, or coins will still hold value as currency, but your Bitcoins will be useless!

If you think losing your password to access Bitcoin is a problem, what happens where you can’t access the Internet.

A digital doomsday is not as far fetched as you may think and the vulnerability of Western Civilization, in particular high-tech countries like America have much at stake. 

If you think Bitcoin will be your hedge again a major disruption in our way of life you are caught in the greater fool theory.  😉

(Credit Photo: Pixabay