{"id":5464,"date":"2020-03-03T09:29:11","date_gmt":"2020-03-03T08:29:11","guid":{"rendered":"https:\/\/www.lcta.ch\/?post_type=portfolio&#038;p=5464"},"modified":"2020-03-03T09:31:23","modified_gmt":"2020-03-03T08:31:23","slug":"internet-of-things-inthecyber","status":"publish","type":"portfolio","link":"https:\/\/www.lcta.ch\/en\/portfolio-articoli\/internet-of-things-inthecyber\/","title":{"rendered":"Commodity Trading: the Internet of Things, new opportunities and new risks."},"content":{"rendered":"<div id='full_slider_1'  class='avia-fullwidth-slider main_color avia-shadow   avia-builder-el-0  el_before_av_section  avia-builder-el-first   container_wrap fullsize'  ><div  class='avia-slideshow av-1nayjuw-b7d0fe6a20c22bf1d2aee81c1d83e4c9 avia-slideshow-featured av_slideshow_full avia-slide-slider av-slideshow-ui av-control-default av-slideshow-manual av-loop-once av-loop-manual-endless av-default-height-applied   avia-slideshow-1' 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class=\"slideshow_align_caption\"><h2 class='avia-caption-title '  itemprop=\"name\" >NEWS<\/h2><\/div><\/div><\/div><\/div><\/div><img decoding=\"async\" fetchpriority=\"high\" class=\"wp-image-3729 avia-img-lazy-loading-not-3729\"  src=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2016\/09\/sld-home.jpg\" width=\"1500\" height=\"430\" title='sld-home' alt=''  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2016\/09\/sld-home.jpg 1500w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2016\/09\/sld-home-300x86.jpg 300w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2016\/09\/sld-home-768x220.jpg 768w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2016\/09\/sld-home-1030x295.jpg 1030w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2016\/09\/sld-home-705x202.jpg 705w, https:\/\/www.lcta.ch\/site\/wp-content\/uploads\/2016\/09\/sld-home-450x129.jpg 450w\" sizes=\"(max-width: 1500px) 100vw, 1500px\" \/><\/div><\/li><\/ul><\/div><\/div>\n<div id='av_section_1'  class='avia-section av-1jcygd4-5dd3a3b533cd3aff9fd843c251f727e0 main_color avia-section-small avia-no-shadow  avia-builder-el-1  el_after_av_slideshow_full  el_before_av_two_third  avia-bg-style-scroll container_wrap fullsize'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-5464'><div class='entry-content-wrapper clearfix'><\/div><\/div><\/div><!-- close content main div --><\/div><\/div><div id='after_section_1'  class='main_color av_default_container_wrap container_wrap fullsize'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-5464'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-1ie1lg8-c9a357716eed360fb21359d9dde6225e\">\n#top .flex_column.av-1ie1lg8-c9a357716eed360fb21359d9dde6225e{\nmargin-top:0px;\nmargin-bottom:0px;\n}\n.flex_column.av-1ie1lg8-c9a357716eed360fb21359d9dde6225e{\nborder-radius:0px 0px 0px 0px;\npadding:30 px 30 px 30 px 30 px;\n}\n.responsive #top #wrap_all .flex_column.av-1ie1lg8-c9a357716eed360fb21359d9dde6225e{\nmargin-top:0px;\nmargin-bottom:0px;\n}\n<\/style>\n<div  class='flex_column av-1ie1lg8-c9a357716eed360fb21359d9dde6225e av_two_third  avia-builder-el-2  el_after_av_section  avia-builder-el-no-sibling  first flex_column_div  '     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-1fqdvoo-45ea57792d2870928d03ccbfbecd7938\">\n#top .av_textblock_section.av-1fqdvoo-45ea57792d2870928d03ccbfbecd7938 .avia_textblock{\ncolor:#477067;\n}\n<\/style>\n<section  class='av_textblock_section av-1fqdvoo-45ea57792d2870928d03ccbfbecd7938 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock av_inherit_color'  itemprop=\"text\" ><h1><strong>COMMODITY TRADING: THE INTERNET OF THINGS, NEW OPPORTUNITIES AND NEW RISKS.<br \/>\n<\/strong><strong><em>The digital transformation in Commodity Trading<\/em><\/strong><\/h1>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-qsnf6g-58e6115684cacd62bfbdaeca52ee2785 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><h3><strong>CONTRIBUTION BY<\/strong><\/h3>\n<p><strong>Paolo Lezzi<\/strong><br \/>\nCEO and Founder, InTheCyber Group | paolo.lezzi@inthecyber.com | <a href=\"http:\/\/www.inthecyber.com\" target=\"_blank\" rel=\"noopener noreferrer\">http:\/\/www.inthecyber.com<\/a><\/p>\n<h2><\/h2>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-12zayjs-6dda0f93ee079f55e01017312ce0743a\">\n#top .hr.hr-invisible.av-12zayjs-6dda0f93ee079f55e01017312ce0743a{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-12zayjs-6dda0f93ee079f55e01017312ce0743a hr-invisible  avia-builder-el-5  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-141audk-49150381a4b8a3188e04ef66fd71d1ed '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p>Over the last few years, there has been a significant increase in the level of connectivity that was hard to be expected.<\/p>\n<p>Adopting IOT devices has become pervasive in the world of commodity trading. These detectors can be found almost everywhere in the chain of the commodity trading process, on ship containers, in the agriculture field in order to monitor land and production, in the oil field and inside mines. These technologies allow to monitor and predict anything that could slow down production and supplies.<\/p>\n<p><strong><em>Real-time trading. The central role of Internet of Things<\/em><\/strong><\/p>\n<p>The relation between Supply and Demand is the key of commodity trading. All goods must reach the right location at the right time. The Internet of Things allows to collect all real-time information which are needed to ensure that the whole process will not suffer of any kind of impediment. Do not forget all the online trading platforms where transactions take place at incredible rates.<\/p>\n<p><strong><em>What type of risks do these new technologies involve?<\/em><\/strong><\/p>\n<p>The described process has a very high level of technology, and it is sufficient to compromise a part of it in order to cause alterations on the market. Think about what impact a cyber-attack could have on the devices that provide all the information needed to manage Supply and Demand.<\/p>\n<p><strong><em>Why do IoT devices often have a low level of security?<\/em><\/strong><\/p>\n<p>One of the first issues is the use of default credentials in IOT devices, for example, the Mirai botnet took advantage of that to infect all the cameras. There are also market needs that encourage the lack of security in IoT devices. The high Demand forces manufacturers to produce new models, without paying the right attention to security issues and ignoring the current updates on older models, which have been replaced on the market by newer ones. Other than IoT devices, it is necessary to manage the whole communication system, which involves many actors in the commodity trading process, including producers, wholesalers, governments, regulatory agencies etc.<\/p>\n<p><strong><em>What repercussions could there be in the event of a cyber attack?<\/em><\/strong><\/p>\n<p>Definitely, one of them is the damage that could be caused by an actor who is able to alter the veracity of the information that is exchanged in the commodity trading process between the players mentioned before. In addition, there is the risk due to all those cyber-attacks that can reduce the availability of a player\u2019s products by blocking its systems or damaging them, or even attacks that affect trading platforms. Think about the repercussions if a main supplier, such as an oil producer for example, were forced to stop the production due to a ransomware attack.<\/p>\n<p><strong><em>What is the correct approach that must be taken while facing this transformation? <\/em><\/strong><\/p>\n<p>The pervasive digitalization has brought many advantages, such as the introduction of the block chain technology which allows to not modify Bill of Lading and so on, or the ability to access real time data which used to seem impossible. As always, great possibilities also bring high risks, and that is why even the commodity trading world must approach cybersecurity systemically, considering every single element of the process connected to the Net and therefore, as a potential weak point. It is also necessary to work on security improvement in order to cope with the constant evolution of the cyber threat, protecting processes, technologies and especially training on this threats all people involved.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-12zayjs-6dda0f93ee079f55e01017312ce0743a\">\n#top .hr.hr-invisible.av-12zayjs-6dda0f93ee079f55e01017312ce0743a{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-12zayjs-6dda0f93ee079f55e01017312ce0743a hr-invisible  avia-builder-el-7  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-jddako-cc2029ad331d205f7ee16de0fc59ba08 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p><em>3 March 2020<\/em><\/p>\n<\/div><\/section><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>3 March 2020<\/p>\n","protected":false},"author":0,"featured_media":5470,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"tags":[],"portfolio_entries":[21],"class_list":["post-5464","portfolio","type-portfolio","status-publish","has-post-thumbnail","hentry","portfolio_entries-review-en"],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/portfolio\/5464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/portfolio"}],"about":[{"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/types\/portfolio"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/comments?post=5464"}],"version-history":[{"count":0,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/portfolio\/5464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/media\/5470"}],"wp:attachment":[{"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/media?parent=5464"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/tags?post=5464"},{"taxonomy":"portfolio_entries","embeddable":true,"href":"https:\/\/www.lcta.ch\/en\/wp-json\/wp\/v2\/portfolio_entries?post=5464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}