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South Carolina Plans Cyber-Ecosystem

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The University of South Carolina (UofSC) has struck up a partnership with the Palmetto State to develop a statewide cyber-ecosystem aimed at making South Carolina a highly competitive player in the cyber-industry.

The new alliance was announced Thursday, February 4, by South Carolina governor Henry McMaster and the University’s president, Bob Caslen. Under the ecosystem, the efforts of South Carolina’s public and private organizations operating in the cyber-field will be aligned according to one unified vision.

“The university looks forward to joining government and industry in this critical statewide effort,” said Caslen. “As South Carolina’s flagship university, we are uniquely positioned to help develop the future cyber-workforce the state needs as well as inform stakeholders on emerging cyber-research and best practices that impact security and the state’s economy.”

An initial study to inventory the state’s cyber-assets, analyze key strengths and gaps, and form a development strategy was announced by McMaster at a State House press conference. The study will take a reading of South Carolina’s current cyber-ecosystem by recording verticals in defense partnerships, investment, education, public awareness, and workforce and industry development.

“This statewide cyber-strategy is an opportunity to develop a cyber ecosystem that trains, attracts, and produces a workforce for the knowledge economy’s high-tech, high-paying jobs,” said McMaster. “Cyber-professionals are in high demand, and through these efforts we can make South Carolina one of the nation’s premier cyber-hubs.”

Key public and private stakeholders in the cyber industry will be selected to join a coordinating committee whose role it will be to guide the study, support data collection, and conduct an assessment of the state’s cyber-assets. The results of the study will form the basis of a plan to improve cyber-coordination, capability, and capacity across South Carolina.

South Carolina’s cyber-assets include the Naval Information Warfare Center in Charleston and the recently announced Savannah River National Laboratory collaboration involving the US Department of Energy and three South Carolina universities.

Bill Kirkland, executive director of UofSC’s Office of Innovation, Partnerships, and Economic Engagement, said that the University’s long-term plans include the creation of a new asset: a Cyber Institute that will combine education, research, outreach, and workforce development.

Source: https://cybersecurityreviews.net/2021/02/06/south-carolina-plans-cyber-ecosystem/

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Cyber Security

Cybersecurity space may have about 3.5 million unfilled jobs: Report

The report has predicted that the Indian cybersecurity services industry would grow at a CAGR of about 21% to touch $13.6 billion by 2025

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The report has predicted that the Indian cybersecurity services industry would grow at a CAGR of about 21% to touch $13.6 billion by 2025

Cybersecurity space may have about 3.5 million unfilled jobs: Report

The market for hacking, also a part of cybersecurity, is expected to create 3.5 million jobs globally by 2025, according to a report by Cybersecurity Ventures.

About 3.5 million jobs in the Indian cybersecurity space will remain unfilled by year-end even as the sector is growing by leaps and bounds, according to a study by Nasscom and Data Security Council of India (DSCI).

Growing industry

The report has predicted that the Indian cybersecurity services industry would grow at a compound annual growth rate (CAGR) of about 21% to touch $13.6 billion by 2025, the Business Standard reported quoting the study ‘India Cybersecurity Services Land.’’

By 2022, the industry, which generated a cumulative revenue of about $4.3 billion in 2019, is expected to grow to $7.6 billion, the report said, adding that around 3.5 million jobs in the cybersecurity space will, however, remain unfilled by the end of 2021.

Burnout cases

Meanwhile, a global study of cybersecurity professionals has warned of burnout among cybersecurity professionals. The cybersecurity space is facing a serious shortage of investment and this, coupled with extra work pressure, is resulting in skill shortage. This study was conducted by Information Systems Security Association (ISSA) and industry analyst firm Enterprise Strategy Group (ESG).

Quality manpower is a challenge

It is a tall order to fill the vacant positions with quality manpower even as data breach poses a real threat to organisations. The market for hacking, also a part of cybersecurity, is expected to create 3.5 million jobs globally by 2025, according to a report by Cybersecurity Ventures.

“The focus needs to be on proactively detecting and avoiding attacks. Security training experts should also increasingly work towards developing skills in the same area,” the Business Standard quoted Govindraj Basatwar, head of Global Business for INKA Entworks, as saying.

Earlier this year, jobs search firm Indeed had said that cybersecurity job postings are more than the number of people searching for a job in the domain.

The report has predicted that the Indian cybersecurity services industry would grow at a compound annual growth rate (CAGR) of about 21% to touch $13.6 billion by 2025, the Business Standard reported quoting the study ‘India Cybersecurity Services Land.’’

Source: https://www.money9.com/news/trending/cybersecurity-space-may-have-about-3-5-million-unfilled-jobs-report-64799.html

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New cybersecurity tech protects computer networks in vehicles

DESOLATOR is not limited to identifying the optimal IP shuffling frequency and bandwidth allocation.

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New York: A team of US researchers has developed a new machine learning-based framework to enhance the security of computer networks inside vehicles without undermining performance.

In collaboration with experts from Virginia Tech, the University of Queensland and Gwangju Institute of Science and Technology, researchers at the US Army Research Laboratory devised a technique called ‘DESOLATOR’ to help optimise a well-known cybersecurity strategy known as the moving target defense.

DESOLATOR, which stands for deep reinforcement learning-based resource allocation and moving target defense deployment framework, helps the in-vehicle network identify the optimal IP shuffling frequency and bandwidth allocation to deliver effective, long-term moving target defense.

“The idea is that it’s hard to hit a moving target,” said Dr Terrence Moore, a US Army mathematician.

“If everything is static, the adversary can take their time looking at everything and choosing their targets. But if you shuffle the IP addresses fast enough, then the information assigned to the IP quickly becomes lost, and the adversary has to look for it again,” he explained in a statement.

The research team used deep reinforcement learning to gradually shape the behaviour of the algorithm based on various reward functions, such as exposure time and the number of dropped packets, to ensure that DESOLATOR took both security and efficiency into equal consideration.

“Existing legacy in-vehicle networks are very efficient, but they weren’t really designed with security in mind,” Moore said. “Nowadays, there’s a lot of research out there that looks solely at either enhancing performance or enhancing security. Looking at both performance and security is in itself a little rare, especially for in-vehicle networks.”

In addition, DESOLATOR is not limited to identifying the optimal IP shuffling frequency and bandwidth allocation.

Since this approach exists as a machine learning-based framework, other researchers can modify the technique to pursue different goals within the problem space.

According to Army computer scientist and programme lead Dr Frederica Free-Nelson, this level of fortification of prioritised assets on a network is an integral component for any kind of network protection.

“This ability to retool the technology is very valuable not only for extending the research but also marrying the capability to other cyber capabilities for optimal cybersecurity protection,” Nelson said.

For the latest Tech news, camera reviews, laptop games news, and Gadget Reviews on TimesNow

Source: https://www.timesnownews.com/technology-science/article/new-cybersecurity-tech-protects-computer-networks-in-vehicles/793233

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Cyber Security

Tether To Conduct An Audit To Negate Claims Concerning Transparency

The Tether general counsel has declared an official audit in few months. USDT is a popular stablecoin occupying the third position in global digital assets. Tether To Conduct An Audit To Negate Claims Concerning Transparency

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The Tether general counsel has declared an official audit in few months. USDT is a popular stablecoin occupying the third position in global digital assets. As it’s on blockchain that cybersecurity experts deem unhackable, the majority today trusts its security.

Related Reading | Cardano Aims To Facilitate Users With Smart Contracts

However, many people in the crypto community have been waiting for a financial audit of the stablecoin. Now, it seems that the ongoing regulatory issues in the crypto industry have galvanized the Tether team into action. As a result, they’re declaring that an audit will take place soon.

Tether Executives Grants Media Interview

Another rare incident is an interview in which the Tether CTO Paolo Arduino and Stu Hoegner, the general counsel, participated on CNBC.

During the interview, the hosts asked the duo some questions about USDT’s transparency and backing. In response, the general counsel stated that the team is working to be the first in their sector to get financial audits.

Tether To Conduct An Audit In Upcoming Months To Negate Claims Concerning Transparency

The crypto market has just turned bullish as the USDT trades in the green zone | Source: USDTUSD on TradingView.com

He also mentioned that the audits would come in months and not years. As for backing, he stated that the stablecoin is backed with reserves.

But Hoegner mentioned that some of the reserves are not US dollars. But the reserves are more US dollars plus other cash equivalents, secured loans, crypto assets, bonds, and others.

Related Reading | Anthony Di Lorio To Leave Cryptocurrency Space For Philanthropic Initiatives

However, in the Transparency report which Tether published, the market cap for USDT stands at $62 billion. Even though the number has increased by 195% since 2021 started, it is still behind competitors such as BUSD and USDC.

When Circle released a reserve report yesterday, July 21, it showed that 61% of the USDC reserves are cash & cash equivalent. The remaining 39% are in treasuries, bonds, and commercial paper accounts.

Taxes Decides To Attack

Paxos is a rival to Tether and recently attacked the stablecoin and Circle through its blog post on July 21, 2021. In the post, Paxos claims that the duo is not operating under financial regulators. In his words, both USDC and Tether are simply Stablecoins in name only.

Paxos disclosed that its stablecoin reserves are a combination of cash or cash equivalents to support its claims.

Related Reading | Ether EFT Gets Approval From Brazilian Securities Regulator

But in May, Tether disclosed the total backing that USDT has, which were cash 3.87%, fiduciary deposits 24.20%, treasury bills 2.94%, cash equivalents, commercial papers, which make up 65.39% plus others. This action was because the US lawmakers are closely scrutinizing its operations.

Also, Tether started submitting reports about its reserves after it reached a settlement agreement with the NY Attorney General’s Office 5 months ago. The firm has continued to send these reports since then.

Featured image from Pexels, chart from TradingView.com

Another rare incident is an interview in which the Tether CTO Paolo Arduino and Stu Hoegner, the general counsel, participated on CNBC.

Source: https://www.bitcoininsider.org/article/121153/tether-conduct-audit-negate-claims-concerning-transparency

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