Tech News Hub: WEEKLY NEWS ROUNDUP
Starting our Tech News Hub Weekly News Roundup with details around Her Majesty's Revenue and Customs (HMRC) data breach report published by the Cyber Security Breach Survey 2021. Even with coronavirus, data breaches remain unchanged as most attackers choose to find more accessible methods of a cash grab.
The Information Commissioners Office (ICO) reported 17 total breaches affecting more than 3,000 individuals. It took place in 15 months, from January 2020 to March 2021. The Cyber Security Breach Survey said four in ten businesses (39%) were affected by security concerns, and even charities (26%) were affected. Though the harm to charities was less than usual, it's not ignorable. Medium businesses suffered the most with a 65 per cent attack rate. HMRC and the cybercrime division are looking into the matter to find out more details and prevention methods.
Our second story covered the Australian government keen on adapting cryptocurrency and digital wallets. The financial system has not been changed for more than 25 years. By mid-2022, the country is looking for digital payment methods providing substantial benefits to the country's economy. Australian people make around $650 billion non-cash payments a day, of which financial issues arise due to the lack of infrastructure. Josh Frydenberg, Australian Treasurer, said they do not want to depend on Silicon Valley for their future transactions, and that's why it is vital to adopt digital wallets, cryptocurrency and buy now, pay later (BNPL) scheme.
The European Space Agency (ESA) is almost done revising applicants for the future space program. In over ten years, ESA put out a circular for astronauts. More than 23,000 candidates submitted their applications. On the other hand, NASA received more than 10,000 applications for their astronaut program. ESA has already selected a few individuals who will be sent for further interviews and training. A few spots remain, and all applicants will be given a fair chance. So, the waiting list will be contacted within this year, and selected ones will join for space missions. NASA and ESA are looking forward to combining their astronauts for future missions.
We shared the UK government MPs reporting on changing legacy IT systems on another news. The traditional IT infrastructure that provides State Pension on UK borders and similar tasks can be dated back to the 1970s. Software, hardware, security, and even tools are obsolete. Some of which was discontinued by the manufacture long ago. It not only poses a security threat but also makes the workflow sluggish. The National Audit Office reported a 34-year-old mainframe for ICL. Her Majesty's Revenue and Customs (HRMC) said MPs are deciding the fate of this infrastructure, and the regulatory body is trying to bring a modernised touch to the legacy IT systems.
New Constructs research firm published yearly the most enormous tech IPO ladder on which it said CEOs have 'no regret' towards bad decision making. In the competitive tech world, CEO's and board of directors decide for the company's future which directly affects the customers. Sometimes it's good; sometimes it's awful. Through both ups and downs, customers use their services. Sometimes those bad decisions bring tremendous benefit. Is that out of luck? We don't know. The report shared regarding the IPOs decision-making is interesting, and check the whole story now.
The sixth story of the week covered Binance tied their business in Singapore. Regulatory change and government rulings were responsible as far as we can guess from Binance. The world's largest crypto exchange platform Binance did not give us any clear answer on their doings. On the other hand, they are expanding business in Indonesia, led by two of the largest telecoms in the country.
We are finalising our weekly round up with the 'Airtable' office team's app gaining a valuation of $11.5 billion. The startup company competes with OneDrive, Slack, Asana, Trello, MS Teams and more. As low-code became popular, the platforms primality provided low-code services for companies on the front side of building applications. Airtable brought in a complete office suite and a low-code platform to offer flexibility. Although 70 per cent of its customers benefit from the accessible version of the app, 30 per cent of annual paid members help generate $100 million in revenue. The company is backed by some of the largest businesses worldwide, with continuous service to Fortune 100 companies. That's it for this week round up. Stay close to Tech News Hub to feed your hunger for the latest tech, business news of the world.