InfoHive – Data Security

What is happening? Lousiana is considering HR 180 (2022 | LA) that will require a study into whether candidates can accept campaign contributions in the form of crypto currency.

Why is this important? The Federal Election Committee has an opinion that allows for the acceptance of crypto but as an in-kind contribution

How will this be important? This comes on the heels of other crypto legislation this year like in VA where state chartered banks can serve as custodians for crypto; and SB22-025 (2022 | CO) that would allow security token offerings for state capital financing.

The Block | Louisiana bill proposes study on crypto campaign donations

What is happening? After pressure from crypto miners the nation’s first proposal to halt crypto mining is no more.

Why is this important? The legislation met its demise after the “crypto crash” in May.

How will this be important? The policy considerations were the short term economic benefit of crypto mining and the long term environmental impact of crypto mining.

Politico | Cryptocurrency mining moratorium stalls in New York State Senate

What is happening? Parmigiano Reggiano Consortium wants to cut down on Parmesan fraud. Yes, you read that correctly. Cheese Fraud. So, to ensure product quality, makers are embedding trackers into wheels of cheese.

Why is this important? Let’s say I’m the type of person who does taste tests of waters, salts, oils, Parmesan….taste matters. And if there’s only one place in the world where this cheese can be made to the exacting standards of the Parmigiano Reggiano Consortium then trackers it is.

How will this be important? fraudulent cheese is a $2.08 billion market.

@foodandwine

What is happening? Miami, New York, Austin and other cities have been incorporating digital currency into municipal operations. Then in May crypto losses totaled more than $1 trillion.

Why is this important? MiamiCoin and NewYorkCityCoin are at record-lows, however, the cities have not suffered financial losses because the cities do not own or invest in the cryptocurrency and do not accept it as payment. Locals who invested in the crypto have experienced losses.

How will this be important? Academics say that “mayors who encourage investment in their cybercoins are “actively encouraging people to participate in a scheme.” Supporters of crypto also say these losses bolster a need for regulation.

Route Fifty | Cities That Hyped Crypto Are Now Contending With the Crash

What is happening? As a result of COVID and a ransomware attack, Lincoln College, a predominantly Black college, in Iowa is closing after 157 years. 157 years!

Why is this important? After making costly tech investments to accommodate COVID, in December 2021, a ransomware attack “walled off the school’s access to its data and halted its recruitment, retention and fund-raising campaigns.”

How will this be important? a forewarning for other institutions.

Government Technology | Lincoln College Closure Is Just Another Ransomware Milestone

What is happening? Cities are being priced out of cyber insurance. Premium rates are rapidly increasing while at the same time warnings of hackers increase since the invasion of the Ukraine. Some cities are responding by self insuring. Some are ensuring that their vendor contracts require quick notification, and some adopt technology that can automatically check their websites for vulnerabilities.

Why is this important? 49% of city agencies that experience ransomware pay the ransom.

How will this be important? Led to cities self insuring. States are passing legislation that prevents the payment of ransoms.

Government Technology | Local Governments Seek Other Options Amid Cyber Insurance Woes

What is happening? Cleveland’s  Community Police Commission has offered recommendations concerning technology use by law enforcement. Created in 2015 as a result of investigations into excessive use of force.

Why is this important? This oversight commission has the goal of protecting residents’ civil rights.

How will this be important? The recommendations support embracing new technologies while establishing best practices for a “successful, crime prevention strategy without sacrificing trust or impacting civil liberties,”

Governing | Cleveland Commission Advises Oversight on Emerging Police Tech

What is happening? COVID led hospitals to increase their internet capable technologies to limit contact and improve communication of health care information.

Why is this important? This rapid use of new technology by hospitals also gave nefarious hackers an opportunity. Hacks have led to delayed surgeries, cancer treatment, lab results, maturity appointments and more.

How will this be important? “In 2020 and 2021, there were at least 168 ransomware attacks affecting 1,763 clinics, hospitals and health care organizations in the U.S., according to Brett Callow, a threat analyst for cybersecurity company Emsisoft.”

Route Fifty | Ransomware Attacks on Hospitals Put Patients at Risk

What is happening? This month, Gucci will begin accepting crypto currency at US stores.

Why is this important? Gucci has identified 10 tokens it will accept including bitcoin and Ether.

How will this be important? How many more luxury retailers will follow suit

@bloombergbusiness

What is happening?  Fort Worth has activated 3 Bitmain Antminer S9s bitcoin mining machines in its Information Technology Solutions Department’s data center

Why is this important? As far as I have seen Ft Worth is the 1st city to mine crypto. The machines were donated by Texas Blockchain Council

How will this be important? This is a 6 month pilot project. It is estimated that each machine will use the same energy as a household vacuum cleaner & generate ample bitcoin to cover the cost of the power. Lets see if any other cities jump on board.

Put Fifty | A City Government Begins Mining for Bitcoin