Jackson Palmer and his once-wildly successful cryptocurrency Dogecoin are a cautionary tale for those bedazzled by Bitcoin. Palmer was an early enthusiast of cryptocurrency, but sought a way to mock the hype around investing huge sums of money in it. He created his own cryptocurrency, Dogecoin, based on an Internet meme of a Shiba Inu dog. Instead of getting the joke, investors brought Dogecoin’s market value to $400 million, before scammers and hackers brought it down, selling fake products and defrauding investors. Continue reading Are Cryptocurrencies Next Big Bust or Revolution in Finance?

Equifax reported that hackers likely gained access to the personal information of about 143 million people in the U.S., making it the second biggest data breach after last year’s two Yahoo hacks, which impacted as many as 1.5 billion customers. The Equifax hack is almost twice as large as the J.P. Morgan Chase & Co. hack three years ago. The damage the hack to Equifax will do is as of yet unknown, but it could be serious, given the immense scope of the attack and the future potential for fraud.   Continue reading Equifax Data Breach, Discovered in July, Impacts 143 Million

According to Alphabet, advertising on Google is doing well — but it’s changing. Google, the world’s biggest advertiser, has seen its advertising business grow 52 percent in Q2, compared to the same quarter last year, but it’s actually earning less per click. That’s because the two fastest growing sectors are mobile and YouTube, both of which earn less money per ad than the targeted ads that appear on top of search results on desktop computers. As a result, revenue per click plummeted 23 percent in the same quarter. Continue reading Google Ad Sales Growing, But Per-Click Revenue Declines

Apple instituted a privacy technology, called differential privacy, that enables its software to understand users without spying on their activities. Now, Microsoft and Uber are also trying out the same technology. While differential privacy reportedly can keep data anonymous, experts warn that it’s becoming easier than ever to identify people from anonymous data sets. That includes biometrics; Citigroup has abandoned a project begun in 2015 to allow customers to scan their irises to access their accounts at an ATM. Continue reading Apple, Microsoft, Uber Turn to New Data Privacy Technology

According to sources close to the project, Apple is in development on a feature that will let users unlock their iPhones with facial recognition, to be released with the iPhone to go on sale later in 2017. Powered by a 3D sensor, the new security system will let users do a variety of tasks, including logging in, authenticating payments and launching security apps via face scanning. The 3D sensor is said to be able to unlock the iPhone within a few hundred milliseconds. Apple is also reportedly testing eye scanning technology. Continue reading Apple 3D Sensor to Power Face Scanning, Replace Touch ID

In an effort to monetize its broadcasting app Periscope, Twitter has partnered with retired tennis champ Andy Roddick for a series of broadcasts during the U.S. Open. Roddick is broadcasting gameplay commentary and answering audience questions from his Twitter handle. Also, marking the first ad campaigns on Periscope, Chase and Grey Goose are serving as sponsors. “JPMorgan Chase, which is an official U.S. Open sponsor, was drawn to Roddick’s Periscope broadcasts during Wimbledon,” reports Variety. “When he started Periscoping during Wimbledon, it was clear to us that is a change in how people will watch sports,” said CMO Kristin Lemkau. Continue reading Andy Roddick Live-Streaming on Periscope During U.S. Open

Entertainment companies are increasingly paying attention to trends on tweets and Facebook posts to create content that will appeal to viewers. The idea is that giving viewers what they want, as judged by their current conversations, is a barometer of success and loyalty. At NBCUniversal Media’s leadership conference last year, the focus was on this topic: how to use big data — as found on a variety of social media platforms — to create content that resonates with today’s viewers. Big data is now becoming a key factor in the development process. Continue reading Networks Use Data From Social Media to Produce New Shows

Apple, Google and Samsung are all vying to dominate the nascent mobile payments market sector. Samsung, a newcomer to the competition, has already signed up five million U.S. users, who have racked up $500 million in transactions since launching in September. Apple Pay is estimated to have 12 million monthly users and Android Pay has five million. Still, adoption of mobile payments hasn’t caught fire yet. Not all retailers accept mobile payments, which also require later-generation phones. Continue reading Apple, Google, Samsung Battle to Dominate Mobile Payments

Apple is in talks with banks to develop a new payment service to allow an iPhone user to send money to another iPhone user, most likely bypassing Visa and MasterCard by working directly with banks. The talks are at an early stage and no one involved would comment on the evolution of the plan. But multiple sources confirm Apple’s talks with the country’s largest banks and that the company is serious about moving forward. Unknown is whether credit card companies are engaging Apple or waiting for the company to contact them. Continue reading Apple in Talks with Banks About New Money-Transfer System

With the introduction of credit cards with an embedded security chip, the banking and retailing industries are battling over issues of security, fraud and the cost of adoption. For years, European banks have issued credit cards with both the chip and a PIN; U.S. banks are foregoing the PIN and relying solely on the chip and an in-person signature. Retailers argue they are absorbing the high cost of adopting the chip technology and paying interchange fees, without reaping any of the benefits of lower fraud. Continue reading Retailers and Banks Battle Over Adoption of Chip Technology

As concerns continue to rise regarding credit card theft and data breaches, Visa and MasterCard have separately announced new plans to increase the security of their customer data. The world’s two largest payment networks will expand their cybersecurity measures for online transactions through new tokenization and biometrics verification technologies. The announcements coincide with increased efforts by the federal government and numerous industries to combat future cyberattacks. Continue reading Visa and MasterCard Unveil Features to Combat Cyberattacks

Virginia-based PFP Cybersecurity has developed a technology that may prevent future “zero-day” hacks from happening, such as the ones recently experienced by Sony, Target, JPMorgan Chase and Anthem. The technology reportedly detects hackers within milliseconds of an attack by identifying pattern changes in the power that devices use. PFP is currently testing the technology in South Carolina working together with the Department of Energy’s Savannah River National Laboratory.  Continue reading PFP Cybersecurity Develops Tech to Prevent Zero-Day Hacks

BlackBerry announced on Monday that its board of directors has formed a special committee and has hired JPMorgan Chase & Co. to explore strategic alternatives that could include joint ventures, strategic partnerships or an outright sale of the Waterloo, Ontario-based company. The news follows declining stock value in the wake of disappointing sales of new devices running BlackBerry 10 and a shrinking customer base for the company that helped pioneer the smartphone market. Continue reading Losing Ground to Apple and Google, BlackBerry Is Up For Sale

President Obama met with a group of 13 corporate executives at the White House on Wednesday to discuss growing cybersecurity concerns and to enlist support for his proposed legislation to combat the threat of computer warfare and corporate espionage. Among the chief execs were Rex W. Tillerson of Exxon Mobil, Randall L. Stephenson of AT&T, Brian T. Moynihan of Bank of America and Jamie Dimon of JPMorgan Chase. Continue reading Obama Seeks Corporate Support for Cybersecurity Initiative