Nowadays, security systems do not involve a lot of heavy equipment. The threat currently is ‘unseen’ – cybercrime and this is currently more serious. As we are in the digital age, cyber-attacks could cost millions and confidence of the public. There is a ripple effect and sometimes, a mere millisecond could cost millions to the organization and to the public. Hacking is a very serious issue, and the damage can be limitless. I would not be surprise that these cyber-attackers would always be one step ahead of the authorities. We need to build resistant to cyber warfare systems in order to pre-empt any moves from these attackers.
Smart Grid meters should have very secure (perhaps even hardware based) features to differentiate devices eligible for load shedding (pool pumps) and those which are mission critical (hospital operating room circuits). Perhaps an external read only protective feature is appropriate to implement on some critical smart grid meters.
What is the experience of the banking industry with the security and vulnerability of SWIFT? Was it ever hacked? Did anybody discovered any vulnerabilities in it?
May be the Smart Grid developers can learn from the SWIFT network how to make it secure?
As we unveil EE Times’ 2015 Silicon 60 list, journalist & Silicon 60 researcher Peter Clarke hosts a conversation on startups in the electronics industry. Panelists Dan Armbrust (investment firm Silicon Catalyst), Andrew Kau (venture capital firm Walden International), and Stan Boland (successful serial entrepreneur, former CEO of Neul, Icera) join in the live debate.