- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
'Digital Geneva Convention’ On the Cards?
Microsoft are raising the issue of digital warfare and championing web safety.
The US Federal cybersecurity market is estimated to grow from $18 billion in 2017 to $22 billion by 2022. Cyberattacks have recently been occurring at the highest levels of global governments, and possibly stemming from the very same sources. This affects the whole world, not just leaders and politicians. This issue is the crux of Microsoft (NASDAQ:MSFT) president Brad Smith’s speech, “Protecting and Defending against Cyberthreats in Uncertain Times”. He presented at RSA Conference, whose mission is to connect and empower the world with expert advice on staying ahead of cyber threats.
A blog post accompanied the talk and here he outlines the need for a ‘Digital Geneva Convention’, in response to the rise in state-sponsored cyber attacks. The Fourth Geneva Convention protects civilians in times of war and Smith is clearly drawing parallels with a war fought on a new, virtual front. In this analogy, technology companies are now the Red Cross, “the internet’s first responders”.
The problem
In 2015 government experts at the United Nations recommended cybersecurity norms “aimed at promoting an open, secure, stable, accessible and peaceful ICT environment”. These, however, haven’t been in effect and Smith calls on leaders to implement these measures. Smith points to the following examples as acts of aggression occurring within a vacuum of international policy.
In 2014, Sony (NYSE:SNE) was hacked and this was attributed to North Korea, because of the film The Interview. Embarrassing private details like company emails, personal employee information and executive salaries, were made public.
In 2016, the US election email hacks were attributed to Russia, who were politically motivated to see a Trump presidency. The hacking of Democratic Party emails harmed Clinton’s campaign. Nation-state attacks are growing in number and size and this incident was a demonstration that no person is too big, or visible, to target.
The proposal
- No targeting of tech companies, private sector, or critical infrastructure
- Assist private sector efforts against cyber attacks
- Report vulnerabilities to vendors, instead of leaking them to the press or selling them online
- Exercise restraint in developing cyber weapons
- Commit to nonproliferation activities
- Limit offensive operation and do not aid governments in such activity
Microsoft are spending $1 billion every year in the security field and Smith hopes that others will follow suit. He wants to protect customers on the internet, and by extension, investors. Companies and investments can be undone by a cyber attack so investors would do well to invest in cybersecurity companies, as well as investing in other technology companies, who hopefully have big security budgets.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Emma Harwood, hold no direct investment interest in any company mentioned in this article.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.