Ukraine’s IT Sector Ups the Ante, Why Blockchain Matters in HR & More in This Week’s Top Reads

It’s that time of the week again when we bring you popular reads of the week. So take a moment and catch up with what you may have missed.  

As war rages through Ukraine, it’s no surprise that the unfolding conflict and its impact on the Ukraine IT sector is in the spotlight. With talks for de-escalation gaining ground, Toolbox uncovers how the Ukrainian IT businesses have become the driving force of its economy. Another story that makes for good reading is how blockchain lends itself to the HR function and can improve the talent acquisition process significantly amid the Great Resignation.  

Taking proper cybersecurity measures has never been more critical than now. Check out how a new ransomware strain dubbed LokiLocker with data wiping functionality targets Windows systems, rendering them unusable.   

So, let’s dive into this week’s top reads without further ado.  

War in Ukraine: IT fights back

With the country at war, here’s an account of how the Ukrainian IT sector strives to keep the lights on amid the deepening crisis. The country is not just battling a full-scale military invasion but also fending off the waves of cyberattacks and interruptions that have hit Ukrainian banks and government departments. ESET researchers tweeted Opens a new window that Ukraine has been under attack from Russian military forces and various APTgroups.  

To counter the cyberwar, Ukrainian IT specialists have formed an IT army under the guidance of the Ukrainian Ministry of Digital Transformation to fight against crippling DDoS attacks and keep IT infrastructure secure. 

Mykhailo Fedorov, the Head of the Ukrainian Ministry of Digital Transformation, tweetedOpens a new window , “We are creating an IT army. We need digital talents. There will be tasks for everyone. We continue to fight on the cyber front. The first task is on the channel for cyber specialists.”  

Meanwhile, Tech To The Rescue (TTTR)Opens a new window , a Poland-based non-profit organization, is mobilizing the worldwide tech community and investors to support NGOs assisting the war-torn country with a #TechforUkraine campaign. The initiative aims to deliver digital solutions to NGOs helping Ukraine, and to date, more than 450 IT companies from 40 countries have pledged to provide their support to NGOs.

This story shows how the Ukraine IT sector is supporting rescue and rehabilitation efforts in the face of war. In addition, check out how major tech companies are actively calling for a cessation of hostilities is a must for technology companies worldwide. 

Blockchain isn’t just about cryptocurrency

There’s no denying that gaining a competitive advantage in the heated war for talent is on the minds of HR managers and IT executives looking to broaden their talent pool during the Big Quit. In this article, Jim Stefanchin, HCM Research DirectorOpens a new window at Aberdeen Strategy & Research, says this is an opportune time to consider blockchain – a proven technology that can lend a lot of firepower to HR functions. According to Stefanchin, the promise of blockchain goes beyond cryptocurrency. At a time when unfilled jobsOpens a new window are swelling, Stefanchin believes there’s far more incentive for adopting blockchain to “level the playing field by putting valid, trusted data in the hands of its users.”   

“Via emerging blockchain technologies, HR professionals [as well as job candidates] will experience improved talent acquisition processes. Education, experiences, and key competencies will be non-fungible – this should shape up to be a winning proposition,” he told Toolbox. 

Don’t miss Stefanchin’s unique view on integrating blockchain in HR and how it can lead to cost reductions. In addition, find out what other experts have to say about other exponential technologies such as low code and XOps – an umbrella term for a swathe of IT operational disciplines reshaping the business tech landscape. 

New ransomware variant LokiLocker comes with wiper functionality

The sharp uptick in ransomware attacks has garnered the attention of IT and business leaders at businesses of all sizes. In fact, 2021 saw several headline-grabbing ransomware attacks against Colonial Pipeline, software provider Kaseya and JBS Foods that disrupted businesses. Last year, global consulting firm Accenture also fell victim to LockBit ransomware operators who reportedly Opens a new window offered up the Accenture databases for sale. 

BlackBerry Threat Intelligence reports Opens a new window that a new nasty strain of ransomware that shares some similarities with the LockBit ransomware but doesn’t seem to be its direct descendant is out in the wild. 

Find out how the virus strain, named after the Norse god of mischief, is programmed to execute disk/data wiping on target computers to erase all non-system files and master boot records if a ransom isn’t paid. Has the increasing use of disk-wiping malware amidst the Ukraine-Russia conflict emboldened the LokiLocker ransomware gang to use similar tactics? 

A note to organizations: The latest threat is a reminder to harden network security and data protection systems to ensure they’re resilient from attack.

Tackling AI’s diversity problem

In another great read, Biju Dominic, Chief Evangelist at Fractal Analytics delves into the gender imbalance within AI and how the evident lack of diversity can affect the AI industry. It’s crucial to keep diversity and inclusion top of mind to build a fairer and equitable AI industry.  Discover how organizations can make concerted changes in their AI leadership and fix AI’s diversity problem. 

 As always, we invite you to explore our expansive coverage of the latest in the tech industry on Toolbox.com.  

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