Security expert Darin Stanchfield talks about how a decentralized system can prevent hackers from manipulating the vote.
As the US is about to start one of the most critical presidential elections modern history, many are concerned with the security of the system. Whether it is Edward Snowden tweeting about hacking the official vote count, Donald Trump complaining about a rigged system or Democrats warning that a Russian cyber attack could manipulate the process, the concern is widespread and bipartisan.
We asked security expert Darin Stanchfield, CEO of KeepKey, a Seattle-based company that builds a secure digital hardware wallet for bitcoin and other crypto assets, how Blockchain technology can heighten security and protect the voting system from attacks.
"In today’s global information environment, where the threats of coordinated hacks are pervasive, we should take all security concerns seriously. These types of threats are real and actively happening. The main problem is that effective digital security is a constantly moving goal post.
We need to understand that now, more than ever, any system is at risk of being hacked. The Blockchain does, however, provide innovations that current systems could embrace. The immutable nature of the blockchain means that if used in an election system, once a vote is cast it cannot be manipulated. The blockchain would also provide an audit trail for election results. And finally, using a public Blockchain like Bitcoin would mean the entire system was decentralized with no single point of failure for attackers to target.
KeepKey does three things that could improve current election systems. First, KeepKey protocol uses secure offline hardware to protect sensitive data (for bitcoin and digital assets, this data is a private key). Humans have not yet mastered the security of electrons moving over wires: offline hardware removes this vulnerability.
The second improvement: KeepKey authenticates its user to manipulate this sensitive data. This is very much like having a personal notary overseeing each transaction, governed by the rules of cryptography and math.
And finally, KeepKey is open source. If code is not transparent or open for review, one may never know what secrets lurk under the hood. To contrast, current election systems are networked. They do little to authenticate those casting votes. Finally, these systems are typically closed and not easily reviewable by security researchers or the public at large."
As the US is about to start one of the most critical presidential elections modern history, many are concerned with the security of the system. Whether it is Edward Snowden tweeting about hacking the official vote count, Donald Trump complaining about a rigged system or Democrats warning that a Russian cyber attack could manipulate the process, the concern is widespread and bipartisan.
We asked security expert Darin Stanchfield, CEO of KeepKey, a Seattle-based company that builds a secure digital hardware wallet for bitcoin and other crypto assets, how Blockchain technology can heighten security and protect the voting system from attacks.
"In today’s global information environment, where the threats of coordinated hacks are pervasive, we should take all security concerns seriously. These types of threats are real and actively happening. The main problem is that effective digital security is a constantly moving goal post.
We need to understand that now, more than ever, any system is at risk of being hacked. The Blockchain does, however, provide innovations that current systems could embrace. The immutable nature of the blockchain means that if used in an election system, once a vote is cast it cannot be manipulated. The blockchain would also provide an audit trail for election results. And finally, using a public Blockchain like Bitcoin would mean the entire system was decentralized with no single point of failure for attackers to target.
KeepKey does three things that could improve current election systems. First, KeepKey protocol uses secure offline hardware to protect sensitive data (for bitcoin and digital assets, this data is a private key). Humans have not yet mastered the security of electrons moving over wires: offline hardware removes this vulnerability.
The second improvement: KeepKey authenticates its user to manipulate this sensitive data. This is very much like having a personal notary overseeing each transaction, governed by the rules of cryptography and math.
And finally, KeepKey is open source. If code is not transparent or open for review, one may never know what secrets lurk under the hood. To contrast, current election systems are networked. They do little to authenticate those casting votes. Finally, these systems are typically closed and not easily reviewable by security researchers or the public at large."
Strike's Expansion into Europe Accelerates Bitcoin Adoption
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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