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In July the New York Department of Financial Services (DFS) proposed comprehensive regulations for virtual currencies including Bitcoin. Under this 40 page proposal, DFS would issue BitLicenses to companies that meet certain criteria. Although BitLicenses would not be required for most merchants or consumers, for most others, a BitLicense will be required for any virtual currency business activity. How will these regulations impact the Bitcoin industry, and can the
One of the best parts of my job is speaking with our customers about their business challenges, and my favorite topic is the mobile user experience. Recently I spoke with the CEO of one of our financial services customers about their challenge to understand and deliver the right mobile experience to both the phone and the tablet. Like many discussion around mobile experience, your top-of-mind thoughts and ideas come not
May 6, 2010 started like most days in the stock market. A few minutes before the U.S. equities markets opened at 9:30 AM, leading brokerage firms opened their internal "market open" conference calls. This is a common practice in the industry: get internal representatives from IT operations, networking, market data systems, software development, etc. on the phone together. Run through checklists making sure all systems are ready for the opening
The joint statement issued in early April by the FFIEC should come as no surprise to the banking and finance community in the U.S. Beginning in 2012 and continuing throughout most of 2013, banks suffered massive DDoS attacks, with dozens of banks attacked during 2013, and up to 50 banks attacked in a single week. A response from regulators such as this is part of the ongoing evolution of DDoS
2013 was an absolute nightmare for many US banks, as they were targeted with massive DDoS attacks by the QCF as part of their Operation Ababil attacks. At Akamai we observed up to 20 banks being attacked in some weeks in 2013, and Akamai successfully protected our banking customers from these large attacks.
Overall, we can look back on 2013 and feel very good about the results for the industry as a whole. Earlier in the year I recall a survey stating that over 40% of bankers expected another financial crisis in the near future. Thankfully that didn't happen. Other good news for 2013: no European country defaulted; the Euro held together; home prices in the U.S. are up; the S&P 500 went
I'm pleased to invite you to our 6th Akamai Edge 2013 this October 7 - 11 in Washington, D.C. at the Gaylord National Harbor Resort and Conference Center. Join us and meet up with more than 1,000 of your industry peers and our best line-up yet of industry innovators, as we create the experiences that to drive a Faster Forward World. Our Biggest and Best Customer Conference Yet! More sessions, tracks and
A DDoS attack targeted at one web site is bad enough. But what happens when that single attack poses the distinct possibility of doing even more damage than originally intended. The kind of collateral damage I'm talking about is very real when you take into account IT architectures reliant on shared services. Shared services include anything that serves more than one application or set of users, for example:- Network infrastructure- Network bandwidth- Market
We're at that time of year again when we sharpen our pencils and write down all the things we want to accomplish during the next12 months. Don't worry; I'm not going to bore you with my personal New Year's Resolutions. Instead, I'll share some quick thoughts on what I believe the resolutions should be for the banking industry as it continues to do more and more business on the web.