Cryoto Weekly #4: Finland Could Lead the Cybersecurity Game in Europe

The ever-growing digital realm is often faced with multiple challenges. Specifically, cybersecurity challenges are commonplace at a time when there is rapid growth in IoT devices.

Finland has always had a strong position on cybersecurity issues. Indeed, the publication of a new cybersecurity strategy in 2019 shows the commitment that the country has in tackling modern security issues. 

But exactly where does Finland stand, especially when compared to peers in Europe and indeed around the world. For many, the country is known for its innovations and forward-thinking technological model. 

The cooperation between the public and private sectors is also widely regarded as progressive when it comes to overcoming digital challenges. Inside Finland, many pundits tend to the view that the country still has a long way to go. Globally, the country occupies the top percentile of countries that are preparing well to deal with cybersecurity issues.

The Gray Area That Finland Occupies

While the global cybersecurity rankings paint a good picture for Finland, it is important to realize that other neighbors in Europe are doing so much better in cybersecurity terms. Estonia and the Netherlands, for instance, have been very keen on putting real money into avoiding security issues. Considering how some attacks on banks and the foreign ministry have cast a dark shadow on the Finnish strategy, it is critical that the country clearly defines its goals going forward. 

It is especially important for Finland to take note of the challenges that exist and how they can be handled. While the public-private partnerships are great, more steps need to be taken to ensure that the country has an adequate and robust cybersecurity industry.

To this extent, the various actors in the industry need to realize that solutions that work best must be comprehensive. A multi-disciplinary approach is, for example, the best route because of the widespread nature of cybersecurity issues across industries. It is not just enough for the technological realm to invest and participate in cybersecurity. Instead, all parties in the country should have some level of cybersecurity research.

The Right Foundation Is Already There

For a country with a relatively small population, Finland is already somehow a host of a disproportionate share of cybersecurity firms. This is an advantage that the country can capitalize on to create the needed cybersecurity industry. 

The many firms present are responsible for groundbreaking research that has defined the future path. But more support and cooperation across fields is still needed to develop cybersecurity to the next level.

Cooperation Is Key to Meeting Finland's Objectives

Finland doesn’t have vast resources and capital to inject into the cybersecurity field. However, this does not mean that the country cannot achieve world-class cybersecurity. What is needed is a cooperation between the different entities in the country. Universities and other research institutions need to work hand in hand with industry players. The public sector should also be involved in the process to ensure that the solutions coming from the industry players are utilized in the right areas.

Going by the situation in the country, this cooperation is already working well in other sectors. It is this cooperation that has made it possible to already have so many cybersecurity firms present in the country. The only thing that needs to change is the level of awareness. Organizations working in the digital realm need to be aware of research partners in the institutions of higher learning. Similarly, the public sector needs to be aware of all the different parties involved in cybersecurity. By fostering an environment of communication, solutions will come quicker.

Cybersecurity threats already exist in the market and challenges will continue to arise. Blackjack and other widely popular casino games will theoretically always be potential targets because of the financial aspect involved in playing the games.

In the gaming world, cybersecurity threats are particularly evident where casinos are often a target for DDoS attacks.  

Conclusion

Finland will continue to be a leader in various aspects of cybersecurity in Europe. There is no doubt that the country can be the forerunner in this sector if some scoop of the issues are handled well. Issues of cooperation, information-sharing, and a multi-disciplinary approach to cybersecurity are especially relevant in achieving the big cybersecurity goals.