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31/05/2023

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But perhaps the greatest economic threat of all comes from the persistent campaigns by major countries to hack into the ...
31/05/2023

But perhaps the greatest economic threat of all comes from the persistent campaigns by major countries to hack into the networks of innovative and successful companies to steal their most valuable trade secrets and intellectual property.

A rapidly growing number of nation states have determined that cyberespionage is a highly valuable tool not only to steal national and military secrets but also to pillage the most valuable business information from international competitors and pass it on to domestic industries to help them out-innovate and out-negotiate their rivals. This cuts through the heart of the modern economic system, which assumes and relies on fair competition in the global free market. What's worse is that it destroys the incentive for businesses to invest in innovation and research and development if they can rely instead on the intelligence instruments of their country's national power to steal and reuse the innovation of others.

And while cyberespionage is having a tremendous negative affect on the global economy from the theft-caused drain of int...
31/05/2023

And while cyberespionage is having a tremendous negative affect on the global economy from the theft-caused drain of intellectual property and the resulting adverse incentives for continued investments in innovative growth, the threat from destructive and disruptive attacks is amplifying risks even further. In the past three years, entertainment companies such as Sony Pictures and Las Vegas Sands Casino, and Middle Eastern oil and gas corporations, have come under devastating nation-state orchestrated cyberattacks that have demolished their networks and halted their business operations for weeks. [DARPA Kicks Off Two-Year Cybersecurity Hack-A-Thon ]

23/05/2023

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