Last updated on December 27, 2018
Might be an issue w the cloud as well as finance: tight interconnections & high complexity?
This article from the NYT is interesting as it seems to reflect the dangers inherent in the complex, tightly coupled financial markets: Wind it tight, connect it deep and unexpected problems can quickly spread:
‘Statistics dictate that the vastly greater number of transactions among computers in a world 100 times faster than today will lead to a greater number of unpredictable accidents, with less time in between them. Already, Amazon’s cloud for businesses failed for several hours in April, when normal computer routines faltered and the system overloaded. Google’s cloud of e-mail and document collaboration software has been interrupted several times. “We think of the Internet as always there. Just because we’ve become dependent on it, that doesn’t mean it’s true,” Mr. Cheriton says. Mr. Bechtolsheim says that because of the Internet’s complexity, the global network is impossible to design without bugs. Very dangerous bugs, as they describe them, capable of halting commerce, destroying financial information or enabling hostile attacks by foreign powers. Both were among the first investors in Google, which made them billionaires, and, before that, they created and sold a company to the networking giant Cisco Systems for $220 million. Wealth and reputations as technology seers give their arguments about the risks of faster networks rare credibility. More transactions also mean more system attacks. Even though he says there is no turning back on the online society, Mr. Cheriton worries most about security hazards. “I’ve made the claim that the Chinese military can take it down in 30 seconds, no one can prove me wrong,” he said.’ http://www.nytimes.com/2011/11/14/technology/arista-networks-founders-aim-to-alter-how-computers-connect.html?_r=1