Apple has announced its new “security bounty” initiative that will offer payments up to $200,000 to any hackers who inform the company about critical vulnerabilities to its products. In doing so, Apple joins major tech companies that have similar programs in place. Alphabet, Facebook and Microsoft “have paid out millions of dollars in bug bounties over the past few years,” reports The Wall Street Journal. Automobile companies such as Tesla and GM are also introducing bounty programs as vehicles are relying more on software to control their systems. Continue reading Apple is the Latest Tech Giant to Launch Bug Bounty Program

Hong Kong exchange Bitfinex was hacked and funds were stolen, marking a setback for digital currency Bitcoin. Bitfinex director of community and product development Zane Tackett posted on Reddit that 119,756 Bitcoins had been stolen. “Before the hacking was made public, that number of Bitcoins would have been worth about $72 million,” explains The New York Times. “Now that the currency has slumped, the figure is closer to $65 million.” During its investigation, Bitfinex has stopped all trading, deposits and withdrawals. The security breach is the latest in a series of events that could impact the viability of virtual currency. Continue reading Latest Cryptocurrency Cybertheft Could Shake Faith in Bitcoin

As soon as September, IBM will unveil a real-world use of blockchain, the online ledger that records peer-to-peer bitcoin transactions. Since IBM will be one of the largest organizations ever to apply bitcoin to actual business transactions, the move also goes far in validating the nascent cryptocurrency. Currently, IBM Global Financing has $100 million in capital tied up, and the move to blockchain is expected to free up some of it. Blockchain, by removing the middleman, is intended to make financial dealings more efficient. Continue reading IBM to Debut Blockchain for Financial Unit Dispute Resolution

Following its $4.8 billion acquisition of Yahoo, Verizon announced it is purchasing Dublin-based telematics company Fleetmatics for $2.4 billion in cash. Fleetmatics will become part of the subsidiary Verizon Telematics, which primarily handles fleet management, mobile enterprise solutions and Internet of Things initiatives. Verizon’s AOL and Yahoo purchases will help build its media and advertising businesses, while the Fleetmatics acquisition points to the company’s enterprise mobility ambitions. The deal is expected to close by Q4 2016. Continue reading Verizon to Ramp Up Telematics with Purchase of Fleetmatics

Apple’s quarterly profit fell 27 percent to a net income of $7.8 billion in the fiscal third quarter ending June 25, compared with $10.68 billion in last year’s third quarter. This downturn, which marks a second straight quarter of reduced revenues, reflects a prolonged downturn in iPhone sales, the first since the smartphone was introduced in 2007. The smaller, less expensive iPhone SE, which debuted in March, alone enjoyed strong sales, with sales of all other models dipping. Continue reading Apple Experiences Downturn, iPhone SE Sales a Bright Spot

Microsoft introduced Stream, a service that will allow businesses the ability to share internal video easily and securely. Now available as a free preview, Stream offers the same easy-to-use, flexible tools as YouTube, but with security tools for enterprise content. Office 365 already has a Video tool, and Microsoft’s idea is to eventually and seamlessly merge the two services. Unlike Office 365, Stream will make use of tools — including likes, comments, and recommendations — found in consumer platforms such as Vimeo and YouTube. Continue reading Microsoft Stream Offers Familiar Video Tools for Businesses

Defense Advanced Research Projects Agency (DARPA) has launched the Cyber Grand Challenge (CGC), to create a program that — without any human interference — can find security vulnerabilities abused by hackers, then create a fix and distribute it. If the Challenge is successful, power plants, air traffic and water infrastructure would eventually become safe from computer viruses and hackers, and ordinary citizens would know their computers and digital devices are safe from malware and viruses. Continue reading DARPA Announces Competition to Combat Computer Viruses

The second season of the series “Mr. Robot” debuts this evening. But three days earlier, fans of the USA Network series who tuned into Facebook Live to watch a Q&A with the cast of the series, moderated by comedian Keegan-Michael Key, got a surprise showing. In a twist that emulates the show’s themes, fsociety, the show’s hacker organization, broke into the live Q&A to deliver a rant about the interview, followed by a sneak preview of the debut episode of Season 2. Then the full episode disappeared. Continue reading USA Gets Creative with Social Marketing of ‘Mr. Robot’ Return

Following extensive debate, the European Union has approved the EU-U.S. Privacy Shield data transfer agreement that will replace Safe Harbor, which “was struck down by the European Court of Justice in October of last year over concerns about how EU data was being treated once it was transferred to the U.S.,” reports Digital Trends. According to the European Commission’s press release, “For the first time, the U.S. has given the EU written assurance that the access of public authorities for law enforcement and national security will be subject to clear limitations, safeguards and oversight mechanisms and has ruled out indiscriminate mass surveillance of European citizens’ data.” Continue reading EU Approves Debated Privacy Shield to Replace Safe Harbor

Google announced yesterday that eight-year-old video platform Anvato is joining Google’s cloud division. Anvato’s software “fully automates the encoding, editing, publishing and secure distribution of video content across multiple platforms,” according to the Google Cloud Platform Blog. Anvato’s Media Content Platform, which counts media companies such as NBCUniversal, Fox Sports and Univision among its many customers, is expected to help Google “enable scalable media processing and workflows in the cloud.” Google is looking to compete with Amazon and Microsoft in cloud storage. Its current media clients include Sky News and Spotify. Continue reading Google Ramps Up its Cloud Business with Purchase of Anvato

As a means of addressing concerns related to social video and costly data consumption, Facebook will start testing a new video download option next week with users in India. “While on Wi-Fi, people can sync videos to their device for offline viewing within Facebook’s app,” explains TechCrunch. “Facebook is touting this as a win for video publishers, who might be grumpy about Facebook’s recent feed ranking algorithm change that prioritizes friends over pro content creators.” To avoid piracy, videos will be locked in the platform’s app, and not viewable from a device’s local memory. Also, publishers can opt out of the feature via the Content Distribution setting. Continue reading Facebook to Test Downloading Social Video for Offline Viewing

The 47-member United Nations Human Rights Council “passed a resolution condemning countries that prevent or disrupt access to the Internet,” according to The Hill. The nonbinding resolution, likely most useful for public pressure, calls on nations to address security and privacy concerns while securing freedom of expression. It also “condemns violence or intimidation against people for ‘exercising their human rights and fundamental freedoms on the Internet.’” Digital rights group Access Now cited at least 15 Internet shutdowns around the world last year, and 20 so far this year. Continue reading UN Human Rights Council Calls for an End to Internet Blocking

HP says it will offer computers to corporate clients for a fixed monthly fee, freeing them from having to make huge upfront outlays for hardware. Unlike standard computer rentals, however, HP will also offer software to manage the hardware, to make sure users have enough processing power and storage and to keep an eye on whether the devices are deployed as efficiently as possible. That includes making sure users do not have more sophisticated hardware or software than necessary for the task at hand. Continue reading HP Offers PCs and Software as a Service to Corporate Clients

According to a new Accenture report, 23 percent of consumers claim their financial data has been breached at least once in the past two years. Interestingly, most remain willing to share their data if it means better service. “About 63 percent of respondents are willing to give their bank direct access to personal information,” reports HousingWire. The National Association of Federal Credit Unions recently called on Congress to combat hacking with legislation that would create stricter standards for retail businesses. Accenture surveyed 4,013 bank customers in North America — 70 percent in the U.S. and 30 percent in Canada. Continue reading Consumers Report Financial Data Breaches, Still Trust Banks

Internet pioneer Vint Cerf, most recently Google’s chief Internet evangelist, co-created Internet server protocols in 1973. Since then, he’s helped the Internet to mature, but one problem he didn’t foresee was the ephemeral nature of storage media, from floppy disks to Zip drives. Tomorrow’s browsers may be incompatible with today’s webpages. Worried about what he calls “a coming digital dark ages,” Cerf has now turned his attention to making the Internet more secure and future-proof. Continue reading Internet Allies Unite to Create More Secure, Future-Proof Web