Faster Networks compiled an analysis of 2022. If you haven’t read part 1, please do. Faster Networks put their best foot forward to understand cryptocurrency and the impacts it has had and, is having on the world at large. This burgeoning decentralised and dysregulated banking system isn’t just economic. Bitcoin mining is an energy intensive process creating its very own environmental issues from uncontrolled investment and emissions. What we believed would solve some of the hierarchical headaches of traditional banking just made us reach for stronger painkillers, as we watched Sam Bankman-Fried get arrested…
Enter the case of MIT graduate, crypto-trader and heralded philanthropist, Sam Bankman-Fried (SBF). SBF, fairly recently, was the wealthiest person under 30, a classic media darling, gracing covers of Fortune and Forbes 400 as recently as August 2022. He had a real rapport with journalists, they say he was disarming with his swagger, casual clothing and Einstein dishevelled-ness. He was a formidable tech guru that fronted media, answered the questions and appeared impressive and relatable.
What is lost in this self-talk however is that digital fraud is a sophisticated and relentless threat. Telstra’s chair, John Mullen, came out recently to admonish the Federal government ministers for undermining Optus’ claim that the cyberattack they recently endured was sophisticated.
But privacy and, the information collected about us before we even get to talk of a data breach, is used in so many ways and is a somewhat empty promise that companies make in order to get us to sign our data away.
Even before Covid, Scamwatch had reported that 1 in 5 scams were ‘dating and romance scams’. They have a full list of what to watch for and horror stories relating to online scams relating to dating sites but single women in later years have been particularly isolated these last 2 years and are crying out for companionship and connection. Scammers have gone so far as to employ actors to play a boyfriend role, create fake social media profiles and entice online daters with elaborate stories to build a connection before asking for thousands of $$ for fake needs or services.