Welcome to the Future!
What is happening? The mayor of Reno, NV is considering selling an NFT of a city sculpture
Why is this important? Revenue. NFTs were a $25 Billion business last year.
How will this be important? How many other items can cities or local governments convert to NFTs and sell to gain revenue. NFTs the new local government merch.
Route Fifty | Bored Apes, Texting Robots and the Latest Digital Taxation Conundrum
What is happening? India by rule is shortening the data breach notification period to 6 hours. The rules were implemented by the country’s computer emergency response team, CERT-In & apply to including service providers, data centers, government organizations, and corporations.
Why is this important? By reference, the EU’s GDRP has a 72 hour notification rule
How will this be important? The rules go so far as to list the types of incidents that have to be reported. There are 20 types that have to be reported and start on page 5.
The Daily Swig | India to introduce six-hour data breach notification rule
What is happening? Slow and steady wins the race. The model insurance data security legislation by the National Association of Insurance Commissioner has gained 2 more states. Kentucky & Maryland.
Why is this important? Kentucky HB 474 (2022 |KY) & Maryland SB 207 (2022 | MD) both put requirements on carriers to do things like risk assessments, reporting and compliance.
How will this be important? Both gave carriers a 1 year grace period for a written information security program compliance and a 2 year grace compliance period for service provider oversight requirements.
National Law Review | Two States Enact Insurance Data Security Laws
What is happening? California is considering Senate Bill 1275 that would make cryptocurrency tender for purchasing state and local government services- like taxes or vehicle registration.
Why is this important? California State Controller Betty Yee has indicated concerns about consistent financial reporting with cryptocurrency. An economist at Loyola Marymount University said, “I think it is too early, too premature, it is too risky, too volatile.”
How will this be important? California will be a bell weather state for state cryptocurrency legislation.
Sacramento Bee | Could you pay your taxes in Bitcoin? California lawmakers weigh cryptocurrency bills
What is happening? at the FTX and SALT’s Crypto Bahamas event. Crypto miners talked about energy efficiency and regulatory certainty.
Why is this important? The efficiency is focused on their mining by improving hashrate efficiency (the amount of power that a machine requires to produce a bitcoin) & data mining centers becoming more specialized and optimized for lower energy consumption by capturing heat used in mining and converting it to energy.
How will this be important? Bitcoin Mining Council says mining computers are 58% more efficient than they were 8 years ago. Miners also want to work with local grids to serve as a grid stabilizer.
What is happening? As part of North Carolin’a budget bill it prohibited state and local governments from communicating with ransomware hostage takers.
Why is this important? If anyone watched Texas House Committee on State Affairs this week, you would have heard testimony from Texas DIR that it can cost less to rebuild than to pay a ransomware attacker. It’s economics…
How will this be important? Pennsylvania did a similar thing with passage of SB 726 (2022 | PA) that prohibits the use of public money to pay ransoms. S6806A in New York this year would also prohibit payment to ransomware attackers.
Route Fifty | North Carolina First State to Prohibit Agencies From Paying Ransoms
What is happening? MIT Tech did a dive into the March 2020 crypto hack that resulted the pilfering of $620 million in the cryptocurrency Ethereum
Why is this important?”In 2021, criminal hackers stole approximately $3.2 billion in cryptocurrency”
How will this be important? The crypto world is moving too fast for seemingly both cybersecurity and regulatory oversight.
MIT Tech Review | A $620 million hack? Just another day in crypto
What is happening? For the last 10 years the FIDO Alliance has been pushing to make smart phone technology a replacement for old passwords.
Why is this important? The idea is your smart phone would authenticate you so passwords would be unnecessary.
How will this be important? FIDO Alliance is 250 companies that are largely in the healthcare and technology world.
What is happening? Cowboy Crypto. Cowboys are the first NFL team to announce a crypto currency partnership with blockchain.com
Why is this important? NBA signed a a deal in October with Coinbase. Crypto.com bought naming rights for an arena shared by the Lakers, Clippers, Sparks and Kings. Crypto.com was named a unique digital currency trading platform during the FIFA World Cup
How will this be important? Let’s watch the partnership unfurl.
Bleacher Report | Cowboys Announce Blockchain.com Partnership; 1st Cryptocurrency Deal by NFL Team
Bitcoinist | NFL’s First Crypto Partnership: Dallas Cowboys Partners With Blockchain.com
What is happening? Mississippi is considering HB 1029 (2022 | MS) that creates the Broadband Expansion and Accessibility of Mississippi office to create a streamlined, central process for how broadband dollars are doled out for projects.
Why is this important? Mississippi has an exception for open meetings for state offices, but not for state commissions or boards.
How will this be important? I might suggest the takeaway here isn’t the statewide broadband planning in a standalone group, but more importantly may be the dispensing of 100s of millions by a ste office that isn’t subject to open records.
Governing | Mississippi Creates Statewide Broadband Development Office