Executives need to have a basic understanding of the mechanics and an appreciation of the magic in order to assess the applicability of blockchains to their insurance business problems. This article will step back from the hype and explain how a blockchain works. It will highlight some surprising capabilities and debunk some confusing myths and inaccuracies.

Lower orbits in particular are becoming increasingly populated and littered with debris, putting satellite operations at risk of collision. In fact, orbital debris makes up over 90% of the tracked objects orbiting the Earth today

There are innumerable other examples of hackers exploiting flaws in a connected object for malicious purposes. And considering the number and variety of IoT (Internet of Things) devices in use in different settings, preventing hackers from exploiting security gaps in connected objects can be a daunting proposition

Both Apple and Google have started to ban applications that mine virtual currencies on their devices. But Hron, the Avast researcher, warns that the risk is growing as more everyday devices are connected to the internet – from ovens to home lighting systems – and that these are often the least secure. Hron said that cheaply made Chinese devices were particularly easy to hack.

Taken at face value, they suggest that average annual potential losses from cyber-attacks may be large, close to 9 percent of banks’ net income globally, or around $100 billion. In a severe scenario—in which the frequency of cyber-attacks would be twice as high as in the past with greater contagion— losses could be 2½–3½ times as high as this, or $270 billion to $350 billion.