Where Artificial Intelligence, networking nerds and the mob and terrorism all meet.
Cisco has just joined up to the EEA which in itself is not so surprising.
Cisco has been declining in things that really matter for a while now. Routers and networking hardware are their bread and butter but they have their limit. Declining sales of switches, routers they have decided to go into another emerging space and catch a beat on everyone else. The admission into the blockchain space signal they are in mood for more acquisitions either in the area of network software or blockchain related areas. Remember these are networking nerds! So what are they up to. Well chances are they want to dive into the area fo digital identify that will help them keep an eye on who is on the network. So here you can see them go headlong into areas like fraud detection, penetration testing and using the blockchain to understand and handshake with who is on the network.
Beyond the network there is also a huge reward to whatever company and or standard gets tag and identify what would essentially be the world’s population. A hint to what might be going on in the background comes from the work being propose by Microsoft and Accenture. Here
Add to this the fact that PricewaterhouseCoopers and Cisco Systems Inc are among the organizations involved in what has been up until now a relatively low key niche initiative to identity the world’s population. With Cisco hardware I’d imagine. ID2020.
Speaking for ID and Fraud.
Mastercard also decided to signup to EEA. Mastercard are going heavily into fraud detection, For obvious reason. Check out this chart for some background.
As an ever more digital population turn to cashless payments it makes sense that they pick up as many payment points an data on the fly as possible. Regardless of the payment type fraud will still need to be dealt with. By signing up to EEA my guess is that they have accepted the switch to altcoins will come one way or the other. And they want to get in on the act and have a set of tools for fraud detection that are or at least will be blockchain enabled.
Taking hints from the ‘house’
My guess is that they will end up taking there hints from the experts in the industry. The gaming industry. Contending with fraudsters and scammer for longer that most they know the tricks of the trade. Its part of the game whether its Blackjack Poker the game is the same. Pick out the guy trying to take form the house. If I were a betting type of guy – and I’m not – I would put my money on Mastercard and Cisco building out their acquisition from people used to dealing with Fraud at the coal face.
Take these guys for instance. The fraud industry is not just about knowing how much money they can potentially take from you. But possibly and even worse case scenario is how much money they can bring to you with an unknown provenance. Which will leave you exposed to the murky world of money laundering, criminal funding and so on.