Lotem Finkelsteen, an expert at the Israeli cybersecurity company Check Point Software Technologies (CHKP), says that crypto crimes would outnumber all other cybercrimes in 2018.
At the “Blockchain, The New Digital Age” event that was held at the Tel Aviv University, Finkelsteen said that the initial coin offering (ICO) market was riddled with illegal activity that hinders the development of blockchain tech:
“Not a day goes by without our hearing about a new ICO scam or mining attack.”
He also added that blockchain tech is suffering from “reputational damage” as it is associated with cryptocurrencies.
While others at the blockchain event were optimistic about blockchain tech and its potential, Haim Pinto, Hapoalim CTO, argued that there aren’t any blockchain-powered projects or systems, especially in the banking industry, that are “dependably usable.” To Pinto, the tech is simply not ready for mass adoption:
“We can’t just take it and use it.”