Thursday, January 4, 2018

Technology Expectations

This is a topic I have been considering for some time. But now I think people are ready to understand the implications of this runaway train - there is NO stopping it, because we are far too committed. Technology is now integrated into our culture, not just in how we work, but how we think, how we communicate, how we "relate"...

Humans and their technology are more intimate than ever before, and Hollywood's Terminator type military industrial SKYNET scenario is not the likely future Roacheforque foresees. The Intel problem is really just the tip of the iceberg.

I believe that the real problem ahead lies in the massive exploits, like the Yahoo data breach. Here are the 16 largest breaches to date, and there are more to come:

I can tell you that what is going on with supply chain attacks is alarming. And though I have mentioned time and again the inherent risk of cryptocurrencies, from malicious code injections to 3rd party platform hacking, the long term viability of web based security is being further eroded.

Advanced economies are far more vulnerable than most people realize, and while financial firms are partially insured to an extent, that insurance will prove to be inadequate.

As we consider the global ripple effect of contagion experienced in 2008, we can grasp some idea of what's at stake when the "loss of confidence" in technology occurs. It could well be the prime mover of a chain event without precedent in our technetronic era.

As technology powers our managed derivative markets and systems, we must understand that in today's world, "technology expectations" are a key component in the equation of "debt = wealth" (just as inflation expectations manage real inflation). Our faith in technology "backs" this equation, and as block-chain and related technologies continue to power that faith, our vulnerability to massive financial exploits increases exponentially.

Forget about the "big buttons" on the desks of political ass clowns. There is a growing likelihood that a global cyber war of epic magnitude could trigger the "great debt default" that restores the old world order as viewed through modern eyes. But ... it's just as likely that a succession of major breaches will simply unravel the whole shebang.

Which wildcard will topple the first domino?
Time reveals all.

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