Techstrong News Recap – September 22, 2022
On Sept. 22, William Willis covered TikTok’s refusal to commit to stopping U.S. data flows to China, South Korea’s request for Interpol’s help with their probe into Terraform Labs and the U.S. Treasury’s recommendation that it create a digital dollar. He also talked about the FTC’s investigation into Amazon’s acquisition of iRobot and Apple’s plans to increase the price of apps on its App Store in select countries. Finally, he previewed articles from Digital CxO, Security Boulevard and Container Journal, which covered how SaaS will transform businesses, a survey looking at the severity of the cloud security challenge and what it means to be cloud-native.
Transcript
Hi again, everyone here the headlines for September 22nd. First up tiktok repeatedly declined to commit to us lawmakers that the app will cut off the flow of user data to China in a recent Congressional hearing. There's been a growing concern that us user data could find its way to the Chinese government and it could be used to undermine us interests based on a Chinese National Security law stating that companies located in China after core operate with data requests.
While tiktok does not operate in China its parent company bite dance has an office there. Instead of committing to cutting off all data flows to China during the hearing tiktok's Chief Operating Officer said that the final agreement would satisfy all national security concerns. Next South Korean officials have asked Interpol to issue a fugitive alert for the founder of terraform Labs as they investigate the crash of the firm's cryptocurrency.
A South Korean court has recently issued an arrest warrant for six people connected terraform Labs including the founder as they look into allegations of Fraud and financial crimes in regards to the crash of its cryptocurrency this past May. Tara USD, it's digital currency was reported to be designed as a stable coin pegging itself to stable assets to avoid volatile price changes. However in May 40 billion dollars of value were erased from the holders of the coin.
This also caused a dip in the global cryptocurrency market as well. Interpol has not yet announced the red notice which they say may take a week to do so. While speaking of cryptocurrency after an executive order calling on the agencies to look at ways to regulate digital assets was issued in this March.
The US Treasury came back with the recommendation to explore the creation of a digital dollar. According to the treasury some aspects of the current payment system are too slow and too expensive stating that the US should be prepared. If a central bank currency should be determined to be of national interest.
This recommendation is occurring as lawmakers have begun working on many ways to regulate cryptocurrency. Zooming out 105 countries representing more than 95% of the global GDP are already exploring or have created essential digital currency. However, us is farther behind than most in creating one than others.
Next up the FTC has announced that it will be investigating Amazon's acquisition of iRobot Amazon and iRobot received a regulatory filing on Tuesday and both companies said they would cooperate with the review. After the deal was originally announced in August groups called for the FTC to block the merger citing that it furthered Amazon's dominance in the Smart Home Market. Privacy Advocates also voice concerns that it would allow Amazon to get more information on its customers.
This is Amazon's newest deal that is under scrutiny by Regulators. Amidst growing concerns about its Market power. Next Apple has announced that it plans to increase the price to purchase apps from its App Store in nine specific countries as well as all countries that use the euro.
This being said the App Store in the US was not mentioned in these price increases. Besides the recent Rising inflation several of the major currencies of the world have fluctuated. Apple ciding both of these reasons for this recent price adjustments.
On digital cxo we have an article arguing that software as a service will transform businesses for decades. Now service providers have relied on OSS and BSS applications for in-house infrastructure. However, these setups are no longer fit for today's world.
com On Security Boulevard, we have an article looking at a survey that reveals the severity of the cloud security challenge at a 400 Cloud engineering and security practitioners 80% So they experience at least one major Cloud security incident this past year in 58% said that they believe that the risk of a cloud breach would only increase over the next year. com. Finally on container Journal we have an article asking whether or not you are ready for cloud native.
The world is embracing Cloud native with estimates to show 95% of all new apps will be cloud-native by 2025. If you aren't already using Cloud native then you are behind. This article looks at what it means to be Cloud native and what you need to be to be cloud-native.
com. And that's today's text wrong news recap.
