Internet is on the verge of cyber disruption – survey

Thursday, April 24, 2014
By Paul Martin
24 April 2014

New Swiss survey claims that Internet is on the verge of cyber disruption, the one “similar to the 2008 financial crisis.” According to the study of Zurich Insurance, there is a define correlation between the mortgage market problems, which led to global financial crisis seven years ago, and a failure of one of cloud providers. Zurich Insurance states that the consequences of this might be severe.

The Swiss reports states: 

”Just imagine if a major cloud service provider had a ‘Lehman moment’, with everyone’s data there on Friday and gone on Monday. If that failure cascaded to a major logistics provider or company running critical infrastructure, it could magnify a catastrophic ripple running throughout the real economy in ways difficult to understand, model or predict beforehand.”

The situation on the cyber market is very similar to the one occurred 
in the US sub-prime mortgage market in 2008. Back then it resulted in a major economic crisis. It is due to the “interconnected nature of the internet” that the history might repeat this time.

The Rest…HERE

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