Wi-Fi Krack Attack, Initial Coin Offerings And Changing Rewards Programs

On Episode 374 of The Waves of Tech, we have you covered from Wi-Fi attacks to Initial Coin Offerings, from rewards programs to walking while texting.  The Krack Attack last week, which focused on hacking a level of Wi-Fi encryption, should not affect many of us but it is good to be educated and understand what happened and how to protect ourselves.  The latest trend in startup investment is Initial Coin Offerings (ICOs).  ICOs are designed around the creation and purchasing of a new cryptocurrency as an investment technique that is proving to be embraced and controversial.  Loyalty and rewards programs are beginning to boom again thanks to changes in customer behaviors and companies realizing the power of app-based rewards programs.  And finally, walking while texting in a crosswalk will leave your pocketbook a bit little in Honolulu to the tune of a $35 citation.  The Waves of Tech is powered by thewavesoftech.com – Modern Issues. Modern Discussions.  Enjoy the podcast and continue to ride…The Waves of Tech.

Krack Attack – An Unprecedented Hack on Wi-Fi

Last week, hackers found a way into WPA Wi-Fi encryption, making it the first hack of the encryption technique in 14 years.  The likes of Apple, Google, and Microsoft have already or have plans to provide patches to limit the damage of the attack.  Before everyone gets nervous, it is highly unlikely that a hack of your personal information would occur.

  • Hackers would need to be within feet of your Wi-Fi router in order to carry a hack out
  • The hack interrupts the handshake between your device and the router
  • Be sure to update the firmware of your home routers and Wi-Fi systems
  • We are more vulnerable when connecting to unprotected, unsecured networks

The Biggest Trend in Tech Right Now – Initial Coin Offerings

In 2017 alone, nearly $4 billion has been pumped into startups, businesses, and tech ventures by way of Initial Coin Offerings (ICOs).  ICOs are essentially a modified approach to Initial Public Offerings that we have grown accustom to seeing and hearing.  Instead of cash and financing, companies are using cryptocurrency for crowdfunding.  What makes ICOs stand out…

  • Companies are inventing new cryptocurrencies and creating new economies
  • Heavy investing is happening via infrastructure, healthcare, gaming, and AR/VR
  • Cryptocurrency is a hotly contested arena, which is heavily unregulated and controversial
  • These new currency ecosystems are volatile yet well embraced by investors

Why Rewards Programs Matter & How They Are Changing

The days of collecting rewards and loyalty program keychain dongles and entering your phone number in key pads is quickly going to the wayside.  As we move into a heavily app-based functionality in our lives, rewards programs are being seamlessly integrated into our apps and providing a simpler and customized programs that users and consumers love.

  • Apps allow companies to provide specific rewards based on user’s shopping history
  • Users now embrace being provided in-app loyalty benefits rather than reading emails
  • Apps no longer require lengthy sign-up forms that have plagued rewards systems
  • The change in approach is trending along with our personal choices for shopping

Texting While Walking May Cost You Your Life…or $35

One of the leading causes of vehicles against pedestrian deaths and injuries are a result of individuals using their smartphones and entering into the roadways.  Now, Honolulu is making walking while texting in a crosswalk an enforcement action and you will be ticketed $35 per incident.  What should be happening is that we ought to be focused on our safety first and foremost, rather than relying on police to keep us safe while using smartphones.

  • Nearly 6,000 people have died as a result of using phones while in the roadway
  • Governments are attempting to keep individuals safe with administrative controls
  • Some governments are pumping hundreds of hours into engineering controls as well
  • The use of smartphones is the leading mental and visual distraction we have

Resources

Wi-Fi at risk – Specific Details about the Krack Attack

Initial Coin Offering (ICOs) Explained

Where $4 Billion of Cryptocurrency is Going

Changing The Rewards Programs Game

Walking and Texting Will Now Cost You

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