News

Cisco Unveils Strategic Vision For Enterprise Cloud Security In MENA

At the heart of this vision is Cisco Security Cloud, a global, cloud-delivered, integrated platform for end-to-end security across hybrid multi-cloud environments.

Published

2 years ago

June 24, 2022

David Morelo

cisco unveils strategic vision for enterprise cloud security in mena

The global pandemic has accelerated cloud adoption by forcing companies to embrace the hybrid work model. But as companies move more and more of their information technology systems to the cloud, they discover that traditional security measures become less and less effective. To help cloud adopters of all sizes overcome the challenges associated with enterprise cloud security, Cisco has unveiled its new strategic vision for the MENA region.

At the heart of this vision is Cisco Security Cloud, a global, cloud-delivered, integrated platform for end-to-end security across hybrid multi-cloud environments. The platform unifies the management and policy administration of public and private clouds to protect users, devices, networks, applications, and data.

“With the complexity of hybrid work, continued acceleration of cloud adoption, and the ever-advancing threat landscape, organizations are looking for a trusted partner to help them achieve security resilience,” said Jeetu Patel, Executive Vice President and General Manager of Security and Collaboration at Cisco. “We believe Cisco is uniquely positioned due to its scale, breadth of solutions and cloud-neutral business model to meet their needs.”

Cisco Security Cloud is based on the zero trust security model, which, as its name implies, describes an approach to security where no access request is trusted without verification regardless of where it comes from.

Also Read: Is Your Phone Hacked? How To Find Out & Protect Yourself

To make the verification process as robust and user-friendly and possible, the necessary identity checks take place in the background, allowing users to focus on their work without being constantly interrupted by log-in prompts and other identity verification mechanisms.

Cisco is also building session trust analysis using OpenID Foundation’s Shared Signals and Events standards, which allow cloud services to instantly communicate security alerts and status changes of users.

These and other parts of Cisco’s new strategic vision for enterprise cloud security should help companies accelerate their cloud adoption initiatives. According to a survey of IT professionals in the Middle East, a lack of cybersecurity is among the main reasons why such initiatives proceed at a slow pace.

News

Binance Receives Virtual Assets License To Operate In Dubai

As its user base nears 200 million, CEO Richard Teng believes crypto adoption will soar over the next half of the decade.

Published

16 hours ago

April 19, 2024

Nour Nasir

binance receives virtual assets license to operate in dubai

Global crypto exchange Binance has been granted a full operational license in Dubai, in a move that’s expected to accelerate digital asset adoption and strengthen the UAE’s regulatory landscape.

The virtual asset service provider license (VASP) was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will allow Binance to extend its current range of services to retail investors, the company announced yesterday.

The move by Dubai authorities will be critical to Binance’s strategy of growing its user base globally. The crypto exchange expects to pass the 200 million user mark “quite shortly”, according to Richard Teng, the company’s CEO.

Once that milestone is achieved, Binance will have around twice as many users as rival platform Coinbase. Meanwhile, Crypto.com, another popular exchange with 80 million users, received a Dubai VASP license last week.

“We’re seeing much greater institutional adoption and institutional money coming into this space [along with] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investor classes,” Binance’s Richard Tang explained, adding: “As of now, we stand at about 5% crypto adoption globally, but that will become much faster moving forward”.

Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

Dubai and the UAE are extremely supportive of technologies like digital assets, and have already launched initiatives to boost adoption. The UAE has ambitious plans to become a world leader in the crypto economy of the future, with Dubai in particular being noteworthy for passing a new law to regulate virtual assets to support investors and exchanges.

“Global crypto regulation is currently showing diverging signs. Some developed countries have long suffered from crypto-related frauds and illegal exchanges. On the other hand, emerging nations like the UAE and Singapore have enacted crypto laws at faced pace,” said Vijay Valecha, chief investment officer of Dubai-based Century Financial.

As the UAE gears up to become one of the fastest-growing crypto capitals worldwide, investors and talent are flocking to places like Dubai. During 2023, the Emirates as a whole realized $204 million in capital gains from cryptocurrency investments, according to blockchain data analysts Chainalysis.