Schneier on Security

Analysis of How Bitcoin Is Actually Used: [ "Quantitative Analysis of the Full Bitcoin...

Findings so far suggest that networks of networks pose risks of catastrophic danger that can exceed the risks in isolated systems. A seemingly benign disruption can generate rippling negative effects. Those effects can cost millions of dollars, or even billions, when stock markets crash, half of India loses power or an Icelandic volcano spews ash into the sky, shutting down air travel and overwhelming hotels and rental car companies. In other cases, failure within a network of networks can mean the difference between a minor disease outbreak or a pandemic, a foiled terrorist attack or one that kills thousands of people. Understanding these life-and-death scenarios means abandoning some well-established ideas developed from single-network studies. Scientists now know that networks of networks don’t always behave the way single networks do. In the wake of this insight, a rev...

Full article: http://www.schneier.com/