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Kaspersky Lab shares Middle East, Turkey and Africa (META) 2018 Financial Insights and Predictions for 2019

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Dangers of Public Wi-Fi

LAGOS, Nigeria, December 14, 2018/APO Group/ — The past year has been extremely eventful in terms of the digital threats faced by financial institutions: cybercrime groups have used new infiltration techniques, and the geography of attacks has become more extensive.

Kaspersky LabAccording to the KSN statistics by Kaspersky Lab (www.Kaspersky.com), the Middle East, Turkey and Africa (META) region witnessed 17% increase in banking malware attacks to reach almost half a million attacks in 2018.  Cryptocurrencies have also become an established part of many people’s lives, and a more attractive target for cybercriminals across the world, which resulted in a rapid increase in malicious mining of cryptocurrencies.

Kaspersky Lab recorded a 4-fold increase in cryptomining attacks in the META region from 3.5 million in 2017 to 13 million in 2018.

“The META region is becoming more appealing to cybercriminals, with financial and malicious crypotomining attacks taking center stage. We discovered six new ATM malware families in 2018. On the other hand, illegal mining of cryptocurrencies has increased dramatically to overtake the main threat of the last few years: ransomware. We believe the reason behind this is that mining is silent and cause less impact that ransomware, making it less noticeable,” said Fabio Assolini, Senior Security Researcher at Kaspersky Lab.

Cybercriminals are not showing any signs of stopping and attacks will continue to evolve. Below are predictions by Kaspersky Lab experts on how these trends could affect our lives in the coming year.

Financial cyber threats 

  • 2019 could see the first attacks through the theft and use of biometric data. Biometric systems for user identification and authentication are being gradually implemented by various financial institutions. Several major leaks of biometric data have already occurred. These two facts lay the foundation for the first POC (proof-of-concept) attacks on financial services using leaked biometric data.
  • The emergence of new, local groups attacking financial institutions in the Indo-Pakistan region, South-East Asia and Central Europe. The activity of cybercriminals in these regions is constantly growing: the immaturity of protective solutions in the financial sector and the rapid spread of various electronic means of payment among the population and companies in these regions are contributing to this. Now, all the prerequisites exist for the emergence of a new center for financial threats in Asia, in addition to the three that exist already in Latin America, the Korean peninsula and the former-USSR.
  • Attacks on mobile banking for business users. Mobile applications for business are gaining popularity, which is likely to lead to the first attacks on their users. There are enough tools for this, and the possible losses that businesses incur would be much higher than the losses incurred when individuals are attacked.

The future of cryptocurrency 

  • Excessive expectations about the use of blockchain beyond the cryptocurrency sphere will disappear. In the end, this trend will be driven by people rather than the technology’s capability, as organisations and industries come to the conclusion that blockchain has a rather narrow scope of application, and most attempts to use in different ways are not justified. The reliable application of blockchain beyond cryptocurrency has been explored and experimented with for years, but there is little evidence of achievement. 2019 will be the year people stop trying.
  • Cryptocurrencies as a means of payment will decline further. In 2017 a number of suppliers of goods and services announced that they would accept cryptocurrencies as a form of payment. However, in the face of huge commissions (an acute problem in December 2017), slow transfers, a large price for integration, and, most importantly, a small number of customers, its use as a method of payment declined steadily. In the end, the use of cryptocurrencies by a legitimate business simply does not make much sense.
  • There will be no return to 2017’s sky-high exchange rates. Until January 2018, there were immense highs and lows in the price of Bitcoin. These are not expected to return as the value of cryptocurrencies levels out to reflect their popularity. There is a finite audience for whom cryptocurrencies are of interest, and once that limit is reached, the price will not rise further.

To read the full financial threat predictions click here.

To read the full cryptocurrency predictions click here.

Disclaimer: Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Cryptocurrency Exchange Quidax Partners With Flutterwave

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Quidax Partners With Flutterwave

Africa’s first user-focused cryptocurrency exchange, Quidax, has partnered with Flutterwave to enable users of Flutterwave’s GetBarter fund their Quidax wallet easily. As part of the partnership, Quidax will give 2,000 naira to new and existing users of GetBarter who use the ‘pay with barter’ option when funding their Quidax wallet with a minimum of N5,000 from 19th March to 15th April 2019.

QuidaxAccording to Wole Ayodele, Head of Business Development at Quidax, this partnership is very exciting for both organizations as it combines Flutterwave’s GetBarter – which makes it easy for people to manage their finances and make payments – as well as Quidax’s seamless cryptocurrency exchange. “Our goal is to simplify access to cryptocurrency in Africa and this partnership helps achieves that”, he went on to say.

When asked why it was important to simplify access to cryptocurrency, Mr. Ayodele stated that the time is here to push for a flatter world with finance. He added that adoption of cryptocurrency has multiplier effects for businesses and the GDP of countries, bitcoin is just the beginning.

In February,  JP Morgan, one of the 10 biggest banks in the world launched its own cryptocurrency, the JPM coin, which is designed for business-to-business money movement flows. JP Morgan had stated that they were running a pilot which would include a total of 27 million accounts.

Also in February, the New York Times revealed that Facebook and Telegram are working on launching new cryptocurrencies that would enable people to send money to contacts on their messaging systems.

Quidax provides a seamless platform for users to send, receive, buy and sell cryptocurrency using their local currencies.

Founded in 2016, Flutterwave is a global payments solutions platform for companies all over the world to accept payments from customers on the African continent and abroad. It allows clients to access their APIs and work with Flutterwave developers to customise payments applications.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Announcing the 3rd Lagos Blockchain, AI and Digital Assets Conference 2019

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Lagos Blockchain AI and Digital Assets Conference

Nigeria’s premium Blockchain Conference of Value and Innovation, annually organised and curated by Blockchain Nigeria User Group, is on its 7th leg, returning to Lagos for the 3rd consecutive season, bigger, stronger and better.

Africa is home to 16.3 percent of humanity but home to less than 1 percent of the world’s billion-dollar companies and only about 4 percent of global GDP. Africa cannot afford, nor does it have to miss the possibilities of the fourth Industrial Revolution (4RI) to better her lot.

At the upcoming #LagosBlockchain2019, attendees will discover how Blockchain, Artificial Intelligence (AI), IoT, Big Data and Virtual Financial Assets are altering and disrupting incumbents and creating new opportunities for forwarding thinking individuals.

Lagos Blockchain AI and Digital Assets ConferenceWe have planned supper interactive panel discussion segments around the technologies of the fourth industrial revolution to provide every attendee with actionable insights that can be applied immediately to accelerate progress in any chosen career path.

Dr. Isa Ali Ibrahim Pantami PhD, Director-General/ CEO National Information Technology Development Agency (NITDA) is expected as guest of honor.

Mr. Andrew Nevin, Chief Economist at PWC will deliver a Keynote on “How Blockchain, AI Digital Virtual Financial Assets and other technologies of the 4IR could drive economic advancement across Africa”.

There will be panel session on “Blockchain, AI, Virtual Financial Assets and the Future of Work in Africa”, “Possibilities of Virtual Financial Assets Taxation in Nigeria” – Akeem Ogunseni, Senior Manager Tax Services at EY.

Other subject matter experts and professionals expected at the conference include Boye Ademola, Partner Technology Advisory & Digital Transformation Lead at KPMG Advisory Services, Wole Oyeniran, Enterprise Platforms/  Systems Integration Leader, West Africa at Deloitte Consulting, Dr. Segun Aina, Chairman Fintech Associates/ President Fintech Association of Nigeria, Shamim Khan, Esq. Director, Lex Futurus (UK) Blockchain Regtech & Law Limited and Ian Friend, Cofounder/ COO Ferrum Network, NYC, among many others.

The conference will feature a melding of the AI and Blockchain/Virtual Financial Assets communities in Nigeria and across the world, exploring the possibilities at the intersection of these technologies. The Conference will bring together business leaders, government and regulatory agencies, data practitioners, AI and Blockchain tech pioneers who are applying artificial intelligence to solve today’s problems and creating tomorrow’s opportunities, while leveraging available tools, to create entirely new values.

About 1000 participants are expected to be at the two-day event.

We aim to bridge the knowledge gap by providing government functionaries, decision-makers, professionals and practitioners with the resources they need to make key business-shaping decisions in a rapidly changing world.

For Sponsorships, Partnerships and Exhibition opportunities, please download the conference brochure at http://blockchainnigeria.group/2019%20brochure1.pdf

Blockchain Nigeria User Group is a pioneer group of enthusiast, developers and industry practitioners championing the adoption of Blockchain technology through education across Nigeria and Sub-Saharan Africa. Since 2016, the group has held about six conferences in Lagos, Abuja and Port Harcourt, connected over 5000 attendees/ enthusiasts and spurred waves of startups in the ecosystem. 

Registration page: https://www.eventbrite.com/e/blockchain-ai-digital-assets-conference-2019-tickets-56327784921

Group website: http://blockchainnigeria.group

Contact Email: info@blockchainnigeria.group

Contact Telephone: +2348165430776

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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First Blockchain Educational Institution in Eastern Africa Funtrench Partners with Blockchain Training Alliance to Promote Adoption of Emerging Technologies in Kenya

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Funtrench Partners with Blockchain Training Alliance

March 6, 2019, Nairobi, KENYA – Funtrench, the first blockchain educational institution in Eastern Africa, has today announced a strategic partnership with US-based blockchain certification company, Blockchain Training Alliance (BTA). The goal of the partnership is to boost Funtrench’s position in building an ecosystem of emerging technologies in Africa. This partnership puts Kenya as one of the African countries besides South Africa and Nigeria where BTA accredited blockchain courses are offered.

The collaboration with BTA will enable Funtrench to offer a wider range of certified blockchain-related courses in Kenya and to create a talent pool of individuals that are savvy in industry 4.0 technologies.

FuntrechMaking the announcement during the company launch at the Movenpick Hotel in Nairobi, Kingsley Ndiewo, CEO Funtrench Ltd said: “Funtrench is not just a business; Funtrench is a revolution. We are happy to be officially launching our company ten months after opening our blockchain campus in Parklands, Nairobi. Moreover, we are grateful that we have been nominated for the 2019 Katerva Award in human development. Our idea of a talent ecosystem is somewhat similar to the Japanese keiretsu whose interlocking parts establish a self-sustaining system. We, therefore, believe that collaboration works better than competing. That is why we are striving to partner with institutions like BTA.”

Chad Decker, CEO Blockchain Training Alliance asserted: “Our strategic partnership with Funtrench was ignited through their passion for education. Funtrench is nominated for the 2019 Katerva Award in Human Development, recognising Funtrench’s goal of global sustainability for the Kenyan workforce. We are delighted to collaborate with Funtrench and look forward to achieving our joint goals in helping to bring immense value to individuals and companies.”

Funtrench focuses on practical training where learners are instilled with skills to build solutions based on emerging technologies that address African problems. To this end, Funtrench has joined hands with Nairobi-based tertiary institution Oshwal College and Kenyan NGO AkiraChix to offer courses in blockchain foundation, blockchain developer, Python programming, and game development.

Speaking during the launch, Hon Michael Onyango, a member of Kenya’s Blockchain and AI taskforce observed: “The advent of emerging technologies continues to disrupt global trade, labor markets, and our local informal sector. The fourth industrial revolution is driven by emerging technologies that are totally dependent on skilled knowledgeable human resource. Today’s formal launch of Funtrench’s services coinciding with their nomination for the 2019 Katerva Award in Human Development, is a clear sign that Funtrench has positioned Africa’s place as a homegrown African agenda at par with global industry standards within the development of local talent and the development of startups within emerging technologies.”

Funtrench is set to roll out machine learning and augmented reality courses in the near future to further promote the adoption of emerging technologies in Africa and beyond.

Disclaimer: Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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