Death of cash by 2030 revealed by IEEE Global Cybersecurity Survey

When asked by the IEEE what year mobile payments would be secure enough that traditional payment methods such as cash and credit cards would no longer be required, 70% of respondents indicated a major shift by 2030.

This is among the findings of a survey by the IEEE, reportedly the world’s largest professional organisation dedicated to advancing technology, which has announced the findings of an online survey. The survey details more than 1,900 technology enthusiasts’ views on digital safety and the future of cybersecurity.

“Now more than ever, cybersecurity is a necessary safeguard to our digital lives, which hosts a variety of our private and personal information,” stated Diogo Monica, IEEE member and security lead at Docker. “Cyberattacks can now unfortunately happen in nearly every element of our lives, such as our car, connected home and wearable devices. Whether it’s putting more reliance in digital systems for our currency or trusting that our email accounts are secure, we need to be cognizant and take the necessary precautions to protect our digital footprint.”

Consumers no longer on Cloud Nine

More than a quarter (26%) of participants also noted that the cloud was the least preferred method for storing their information; while 49% of respondents chose a personal computer log as their primary option. Respondents did have concerns regarding other considerations to their digital footprint. When asked about their personal information being available on certain platforms, respondents believed that online banking (72%), syncing to the cloud (53%) and banking/mortgage information (60%) were extremely risky, indicating a 1 or 2 for each on a scale from 1-5 (1 being riskiest).

“There is a stigma attached to the term “cybersecurity” and “hacker,” due in large part to personal and corporate attacks, but there is so much opportunity and growth available in the cybersecurity industry,” stated David Brumley, IEEE member and director of CyLab at Carnegie Mellon University. “Initiatives such as ‘Hacking for Good’ can not only provide tools and a career path for students, but it can help change the perception that a “hacker” isn’t representative of the field as a whole. Responsibly encouraging and developing the next generation of cybersecurity personnel is needed to ensure we are protected in the future.”

Internet starts with ‘I’ – Managing your digital home

There is a level of sophistication among respondents who monitor their home internet activity. According to the results, 22% of respondents have automated alerts set up for any attempted connectivity, 11% utilise visual monitoring in real-time and 3% connect to a cloud monitoring system. When asked what would be most affected by the continued developments of cybersecurity, participants noted identity theft (42%), followed by online anonymity (27%), piracy (18%) and viruses (12%).

IEEE hosted an online survey on IEEE Transmitter from February 16 – March 29. The survey asked participants who are actively engaged in technology trends a variety of questions regarding their digital comfort level as well as what the future might hold for the future of cybersecurity. The total number of survey respondents was 1,903. Full survey results can be found by visiting IEEE Transmitter.

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