World Economic Forum: 1 trillion trees and report on Password role in Cyber Crime

The World Economic Forum began on January 21, 2020 in Davos. The highlight of the forum this year is over its initiative to plant 1 trillion trees in the next decade and also to equip 1 billion people with fourth industrial revolution. The forum has released a report on the role of passwords in cyber crimes. According to the report, fourth industrial revolution reduces cost spent on maintaining passwords and their secrecy.

Highlights: 1 Trillion Trees

The World Economic Forum has joined the “Tree Trillion Campaign” that was launched by UNEP (United Nations Environment Programme) in 2006 as “Billion Tree Campaign”. In 2011, the project was handed over to Plant for the Planet (a NGO).

The forum has launched 1t.org platform in order to support the campaign. Through the platform, the forum aims to bring together the leading businesses, governments, civil societies and entrepreneurs all over the world.

The initiative is being supported by the US, though it secluded itself from the initiative earlier.

Highlights: Role of Password

On January 22, 2020, the World Economic Forum released report on passwords and the cost involved in maintaining their secrecy. According to the report, cybercrime is to cost 2.9 billion USD to the global economy. Around 50% of IT Help Desk costs are spent on password resets. Therefore, it is essential to shift the password-based system towards Artificial Intelligence and other fourth Industrial Revolution technologies.

The report suggests top 5 technologies for password protection. It includes behavioural analytics, biometrics, QR codes, zero-knowledge proofs and security keys.

Month: Current Affairs - January, 2020