< Previous40 Vol. 25/11, October 2024 Why true online anonymity is impossible The concept of digital anonymity faces an uphill battle. While tools like VPNs and incognito browsing modes offer some level of protection, experts caution that they don't fully shield you from being tracked. According to Anandarao, achieving 100 percent anonymity online is “impossible” due to the pervasive nature of digital tracking. “Search engines and ad-makers usually track you using keywords. Laws have been enforced to track and trace user activity, which do not conform to cybersecurity standards. Hence, you can limit the amount of information about your self rather than being completely anonymous,” he explains. A Pew Research Centre sur vey sheds light on this issue. It found that 86 percent of users have taken steps to obscure their digital footprints, while 59 percent believe that complete anonymity online is impossible. Many users feel that current laws inadequately protect their privacy, with 68 percent expressing concerns over the lack of robust online privacy regulations. BeyondTr ust’s Haber offer s a sobering reality check: “Every action online, from sending an email to visiting a website, generates data (mostly in the form of logs) that can, in theory, be traced back to you even when advanced forms of obfuscation are implemented.” This means that while you may feel anonymous, there are still ways to trace your activities back to your identity. The key to tracking When discussing online anonymity, the role of IP addresses cannot be over- looked. An IP (Internet Protocol) address is essentially your digital home address – where data is sent and received. Both Haber and Anandarao emphasise that an IP address, while not directly revealing a user's identity, can give away geolocation and allow for the tracing of online activities. “Your IP address is your unique identifier in private and public networks. It is conceptually similar to your mobile phone number in the real world. It’s the ‘address’ that lets websites, apps, and services know where to send the infor- mation you request. This makes it a key component in the battle for online anonymity,” says Haber. Though VPNs and other tools can hide or mask your IP address, logs and records of your online activity still exist. Even if your IP is concealed, the network you’re on requires identifiable information for communication to occur, making complete anonymity practically impossible. Haber explains: “Even if routes disappear after use, logs exist that can trace requests to their source – this means IP addresses are never anony- mous.” As long as this identifier exists, full online invisibility remains a diffi- cult, if not impossible, goal. 40 Vol. 25/11, October 2024 ABE_2511_38-41_Anonymous Online_13377453.indd 4028/09/2024 18:57arabianbusiness.com 41 The VPN Question VPNs (Virtual Private Networks) have become one of the most popular tools for individuals looking to safeguard their online identity. By encrypting your data and masking your IP address, VPNs provide a layer of protection, but both experts agree that they aren’t invulnerable. A VPN encr ypts your data and shields your IP address, making it more difficult for third parties to track your activity. However, as Anandarao points out, VPNs don’t make you entirely anonymous. “When a cybercrime is repor ted, the VPN provider must mandatorily provide all information that has been gathered about the user.” Haber echoes this sentiment, adding: “Your VPN provider still knows your real IP address (based on logs) and can be compelled by law enforcement to reveal it.” Additionally, VPNs are not immune to other threats like cookie tracking, viruses, malware, or phishing scams. The level of security they provide also depends heavily on the trustworthiness and competence of the VPN provider. Social media, a hotspot for data collection? For those who attempt to remain anon- ymous on social media platforms, the challenge is even greater. Social media platforms are specifically designed to collect user data, which is often shared with advertisers or used for targeted campaigns. Even if you use an alias or pseudonym, your interactions, the content you engage with, and the connections you make can all reveal aspects of your true identity. “Social media platfor ms are designed to collect and share data even for businesses. That is their business model,” Haber notes. Anandarao agrees that anonymity on social media is possible but requires ethi- cal responsibility. He warns users against engaging in harmful activities like “bully- ing, derogatory comments, phishing, fake IDs, [and] pornographic content” while using anonymous accounts. Haber, however, stresses that even with these precautions, true anonymity on social media is highly challenging, due to the extensive data collection practices employed by these platforms. How to enhance your online anonymity While complete anonymity may be unattainable, there are still steps users can take to enhance their privacy and protect their online identities. Anandarao recommends using trusted VPNs, secure and encrypted messaging apps, and ad-free email services. Addi- tionally, advanced users may benefit from employing ad blockers, encrypted online storage, and proxy services when accessing social media. “There are a few ways that can be helpful in making a user stay anony- mous online. Using a trusted VPN, using secure ad-free email services, using an encrypted messaging app and browser does help users to stay anony- mous. More advanced ways of doing this could be by using secondary email for necessary subscriptions, using an encrypted online storage could enhance online anonymity. Using ad-blockers can also be effective in boosting anonymity. Using a proxy while explor- ing social media websites could also be effective,” advises Anandarao. Haber also suggests taking a proac- tive approach to privacy. “Consider regularly clearing your browser history and using search engines that don’t track your queries, like DuckDuckGo. Avoid sharing personal information online and use different usernames and email addresses for different accounts, so your identity is not easily linkable. Finally, be mindful of the metadata you generate, such as location tags on photos, and limit the use of social media to only trusted devices.” The changing landscape of online anonymity As technology continues to evolve, so too does the concept of online anonym- ity. Anandarao points out that advance- ments in technology have made it increasingly difficult to remain invisible online, particularly as laws surrounding cybersecurity and data privacy evolve. “It started off with email anonymity, followed by IP addresses and users. With more technological advance- ments, the concept of online anonymity keeps changing, so do the laws that govern cyber security and data privacy. Anonymity is ethical as long as it doesn’t cross the boundaries of security and privacy,” he explains. Haber adds that the interconnect- edness of today’s world, driven by the rise of mobile devices, social media, and IoT (Internet of Things), has made true online anonymity more difficult than ever before. “Simultaneously, there’s been an outcry for greater trans- parency and accountability online for any type of tracking, driven by concerns over political misinformation, illegal activities, and social discord that have driven governments to enforce online exposure of identities that participate in these activities.” The future of anonymity online As online privacy continues to be a pressing concern, it’s essential to recog- nise the limitations of the tools we use to stay anonymous. While complete invisibility online may be a thing of the past, there are still ways to enhance your privacy and protect your digital foot- print. By combining the right tools with informed and cautious behaviour, you can increase your online anonymity – just don’t expect it to be absolute. In the end, as UAE cybersecurity experts remind us, true anonymity in the digital age is a complex and ever-chang- ing challenge, but with the right precau- tions, it’s possible to regain some level of control over your online presence. $15.63TR The estimated annual cost of cybercrime worldwide by 2029, according to figures from Statista arabianbusiness.com 41 ABE_2511_38-41_Anonymous Online_13377453.indd 4128/09/2024 18:5742 Vol. 25/11, October 2024 In Focus ABE_2511_42-45_Cyrogenics_13401816.indd 4228/09/2024 19:03arabianbusiness.com 43 In Focus As cryogenics garners global attention, wealthy figures are hedging their bets on future technology to conquer death, despite lingering doubts from the scientific community WORDS BY NICOLE ABIGAEL Cryogenics has long occu- pied a curious space in our imagination, a blend of speculative fiction and radical science that prom- ises a future where death is no longer final. From Isaac Asimov’s The Gods Themselves to Hollywood blockbusters like Interstellar, the notion of freezing humans and reviving them at a later time has been deeply fascinating. Yet what was once a figment of science fiction is now being seriously pursued by some of the world’s wealthiest individuals. With a market projected to reach a staggering $17.4bn by 2027, the cryo- genics industry is growing rapidly. For a small but growing group of people, the idea of cryogenically freezing their bodies after death in hopes of future revival is not just a dream – it’s a care- fully calculated investment. Over 600 people have already committed to this process, with another 4,000 on waiting lists, eager to join the ranks of those who may someday defy death itself. But the science behind this bold venture remains controversial and unproven. The freezing fantasy Cryogenics, or more specifically, cryon- ics, involves freezing a body at tempera- tures of -196°C just after legal death is declared. This process is designed to preserve tissues and organs so they remain in stasis until future medical tech- nology evolves enough to reverse what we currently consider irreversible. For those with the financial means, this process offers the tantalising possibility of coming back from death at some distant point in the future, when the science of today’s fiction becomes reality. But despite its fantastical promise, cryonics still exists in the realm of spec- ulative science. No human has ever been revived from a cryonic state, and many medical professionals and biolo- gists remain sceptical about whether it will ever be possible. As Live Science bluntly puts it: “There is no evidence that freezing either the body or the brain and restoring it to a living state is remotely close to viable.” Nonetheless, cryonics has captured the attention – and the wallets – of the super-rich. Elon Musk, Paris Hilton, Britney Spears, and Simon Cowell are just a few of the big names rumoured to be on cryonics waiting lists. For them, it’s less about certainty and more about possibility – the chance, however slim, that they may one day wake up to a new world and a second shot at life. ABE_2511_42-45_Cyrogenics_13401816.indd 4328/09/2024 19:0344 Vol. 25/11, October 2024 In Focus “Welcome to your future” At the forefront of the cryonics move- ment is the Alcor Life Extension Foun- dation, a US-based organisation founded in 1972. Alcor is the global leader in cr yonics, and its slogan, “Welcome to your future,” sets the tone for what it offers: A high-tech afterlife service. With over 1,400 members and 234 patients already cryopreserved, Alcor has become the de facto choice for those seeking a second chance at life. The process is meticulous and highly orchestrated. Once a person is declared legally dead, Alcor’s team swings into action. The goal is to preserve the body as quickly as possible, starting with a cooling process that lowers the body temperature while circulation and respiration are temporarily restored using machines. The body is placed in an ice bath, and blood is replaced with an organ preservation solu- tion to prevent tissues from decaying. From there, the body is prepared for long- term preservation, using cryoprotectants – chemicals that prevent ice crystals from forming and damaging cells. The body is then cooled to a stag- gering -196°C and stored in a vacu- um-insulated steel chamber filled with liquid nitrogen. Alcor claims that in this state, the body can be preserved for centuries, or even millennia, while awaiting a future when medicine may be able to cure today’s terminal diseases – or even reverse death. Alcor offers two types of preserva- tion: Full-body cryopreservation, which preserves the entire body, and neuropres- ervation, which preserves only the brain. The latter is a more affordable option, priced at around $80,000, compared to the $200,000 cost of full-body preserva- tion. But whichever option is chosen, the ultimate goal is the same – to be restored to life in a future that has mastered the science of reanimation. suggests that we are still far from being able to achieve such a feat. Yet, history has shown that once-dismissed technol- ogies often become reality. Just a century ago, the idea of heart trans- plants was considered impossible, yet today, they are routine procedures. One of the biggest challenges to cryonics is the preservation of the brain. Even with cryoprotectants, the process of freezing and thawing tissue is fraught with difficulties. Ice crystals can form, damaging cells and tissues beyond repair. In theory, cryopreservation should prevent this, but no one can say for certain whether the brain – and, crucially, the memories and consciousness it contains – can survive the process intact. Critics argue that even if we could one day revive a cryopreserved body, restoring the person’s identity – their thoughts, memories, and personality – might prove impossible. As it stands, there is no tech- nology that can fully preserve or regener- ate the complex neural structures that make us who we are. Nevertheless, cryon- ics enthusiasts are undeterred. For them, the risks are worth the reward. After all, the alternative is to accept death as final. A science of speculation Despite the meticulous procedures and advanced technology involved, cryonics remains deeply speculative. No cryonics company has ever revived a frozen human, and current medical science Cryonics is seldom taken seriously because of its alleged poor technological feasibility. But if the history of technology is any guide, such conclusions may be premature, and the jury is still out whether cryonics is hype or hope ABE_2511_42-45_Cyrogenics_13401816.indd 4428/09/2024 19:03arabianbusiness.com 45 In Focus The frozen elite For many of the world’s ultra-wealthy, cryonics offers not just a chance at immortality, but also a way to extend their influence and legacy into the future. Several high-profile figures have reportedly signed up for cryopreserva- tion, including technology mogul Elon Musk and media magnate Simon Cowell. For these individuals, the hefty price tag – $200,000 for full-body pres- ervation or $80,000 for brain preserva- tion – is a small price to pay for the chance to cheat death. While Alcor leads the field in the United States, cryonics facilities have sprung up in other countries as well, including Russia, Switzerland, and China. In fact, the world’s first cryonics museum opened in Colorado earlier this year, offering the public a glimpse into the science – and the hope – behind cryopreservation. The museum houses a cryogenically frozen man named Bredo Morstoel, preserved in a cylin- drical steel chamber, with the aim of educating visitors about the potential future of immortality. One of the most persistent rumours in the world of cryonics concerns Walt Disney, who many believe was one of the first to undergo cryopreservation. According to conspiracy theorists, Disney’s body (or head) is supposedly frozen beneath Disneyland’s Pirates of the Caribbean ride. However, there is no evidence to support these claims, and Disney’s official death records confirm that he was cremated and interred in Los Angeles. Still, the rumours reflect the endur- ing fascination with cryonics – and the allure of living forever. Legal labyrinths and ethical quagmires Even if the science of cryonics eventually catches up with the dreams of its propo- nents, a host of legal and ethical chal- lenges remain. One of the most significant hurdles is the question of personhood and legal identity. Cryonics can only begin after a person is declared legally dead, meaning that any successful revival would essentially result in a legal resurrection. these trusts face their own legal and practical challenges. For one, most legal systems are not equipped to manage assets over the span of centuries. More- over, there is no guarantee that the assets will retain value or relevance in an unknowable future economy. Is it hype or hope? The debate over cryonics is far from settled. For some, it represents the ulti- mate triumph of technology over nature, a way to conquer the final fron- tier of human existence. For others, it’s little more than a high-tech pipe dream – a costly and elaborate way of delaying the inevitable. A paper published in June 2023 by Gabriel Andrade and Maria Campo Rednodo, titled Cryonics, Euthanasia, and the Doctrine of Double Effect, highlights the tension between hope and hype in the cryonics debate. As they note, “Cryonics is seldom taken seriously because of its alleged poor technological feasibility. But if the history of technology is any guide, such conclusions may be premature, and the jury is still out whether cryonics is hype or hope.” Since 2023, Alcor has cryopreserved ten more patients, continuing its mission to preserve human life for a future when science can achieve what today seems impossible. Whether that future will ever come remains uncertain. But for those willing to take the plunge – both figura- tively and literally – the promise of immortality is worth the wait. A cold risk In the world of cryogenics, the stakes couldn’t be higher. The wealthy are not just buying a service; they’re buying time – the ultimate luxury. Cryonics offers them a chance, however slim, to outwit the greatest adversary of all: Death. And while the science may not yet support their ambitions, the allure of living forever is powerful enough to keep the industry growing. For now, the frozen bodies lie in their chambers, waiting for a future where the impossible becomes possible. It’s a cold, hard risk – but for those who can afford it, it’s one worth taking. Many believe Walt Disney was one of the first individuals to undergo cryopreservation How would existing laws apply to someone who has technically died and been revived decades or even centuries later? Would they retain their original identity, or would they be considered a new person entirely? What about their property, contracts, or legal obligations? These are questions that current legal systems are ill-equipped to answer. There are also social and ethical concerns. Cryonics, by its very nature, is a ser vice accessible only to the wealthy. If the technology ever becomes viable, it could create a new class of “cryonic refugees” – individuals who awaken in a future society where they have no assets, no social connections, and potentially no useful skills. As Rich- ard B. Gibson discusses in his paper The Cryonic Refugee: Appropriate Analogy or Confusing Rhetoric? this scenario could pose significant challenges for future societies. Some cryonics companies have proposed using long-term trusts to address these issues. Alcor, for instance, offers the Alcor Model Revocable Asset Preservation Trust, which is designed to hold assets for cryopreserved individuals until their potential revival. However, ABE_2511_42-45_Cyrogenics_13401816.indd 4528/09/2024 19:0346 Vol. 25/11, October 2024 Economic Trends Economic uncertainty looms as experts warn of potential recession in 2025 that could impact global markets, including the GCC region WORDS BY TALA MICHEL ISSA Vol. 25/11, October 2024 As the global economy experiences continued volatility, economists are raising concerns about the likelihood of a reces- sion in 2025. Recent shifts in employ- ment rates, mixed economic data from major markets, and the ripple effects of global uncertainties have experts warn- ing that an economic downturn could be on the horizon, particularly in the United States. The potential for a recession in the US carries significant implications for global markets, including those in the Gulf Cooperation Council (GCC) countries, which remain heavily reliant on oil exports. Experts are sounding the alarm that a recession could reduce demand for oil, triggering broader economic uncer- tainties in the region. But is a recession inevitable, or are these fears overblown? Mounting concerns – Is a recession inevitable? John Hardy, Chief Macro Strategist at Saxo Bank, believes that the odds of a US economic slowdown tipping into a recession next year are “very high.” He explains: “The questions are those of timing – whether it’s Q1 to Q3 – and of the severity, as well as whether inflation will slow sufficiently for the Fed to bring significant further easing relative to what is already priced.” This concern is shared by other lead- ing financial institutions. J.P. Morgan Research recently raised its probability of a US and global recession starting before the end of 2024 to 35 percent, up from 25 percent earlier in the year. Bruce Kasman, Chief Global Economist at J.P. Morgan, cites weakening labour demand and a loss of momentum in global manufacturing as key factors contributing to this outlook. “US news hints at a sharper-than-ex- pected weakening in labour demand and early signs of labour shedding. The latest business surveys also suggest a loss of momentum in global manufacturing and in the Euro area,” says Kasman. Similarly, Goldman Sachs analysts have also increased their estimated odds of a US recession, from 15 percent to 25 percent. The July jobs report, which showed unemployment rising to 4.3 percent, has deepened these concerns. Mohamed Hashad, Chief Market Strategist at Noor Capital, agrees that the signs of an impending recession have been evident since 2022. However, he maintains a cautiously optimistic view of the global economy. “The forecast is still cautiously positive despite uncertainties, with some regions better prepared to withstand any downturns than others,” he tells Arabian Business. ABE_2511_46-48_2025 Recession_13401869.indd 4629/09/2024 09:52arabianbusiness.com 47 Economic Trends arabianbusiness.com 47 How a US recession could impact the world A recession in the US would have far-reaching consequences for the global economy. “The US is so critical as a source of global demand, and China is already grappling with the after-effects of its enor- mous housing bubble, so if the US slips into a recession next year, a generally slug- gish forecast for the global economy remains the default scenario from our side,” explains Hardy. Emerging markets, in particular, could be vulnerable. According to Hashad, “Emerging markets may face serious diffi- culties, especially if they depend heavily on outside funding and have high debt levels.” He notes that the GCC region, which is highly dependent on oil exports, could also be at risk if global demand for oil falls during a recession. “A worldwide recession would result in less demand for oil, which would affect the GCC countries’ income and stability,” he says. Economic fears drive volatility Recent market turbulence has only fuelled these recession fears. Major global indices have seen sharp declines, with Wall Street’s S&P 500 and Japan’s Topix both experiencing significant drops in early trading. In particular, the technol- ogy sector, often seen as a bellwether for economic health, has been hit hard. Nvidia, a leading player in artificial intel- ligence, saw a 9.5 percent slide in its stock, marking the largest single-day market value decline for a US company. Despite these concerning indicators, some experts remain cautiously optimis- tic. J.P. Morgan’s Kasman points to continued gains in the service sector, which has helped temper the forces driv- ing a recession. “These forces are being tempered by solid continued gains in overall activity, led by the service sector,” he says. He adds that the key vulnerabil- ities typically associated with a recession – such as sustained profit margin compression, credit market stress, and energy or financial market shocks – are “notably absent.” Goldman Sachs analysts also argue that recession risks remain “limited” overall. They cite the Federal Reserve’s ABE_2511_46-48_2025 Recession_13401869.indd 4729/09/2024 09:5348 Vol. 25/11, October 2024 Economic Trends ability to cut interest rates as a key factor that could help support the US econ- omy if needed. The role of the US Federal Reserve The US Federal Reserve’s actions will be crucial in determining the economic trajectory over the next few years. As Hardy notes: “The US dollar is global money, so we could have the classic episode, once recession concerns pick up further, that the US dollar strength- ens as markets run for cover amidst the breakout of recession.” Hardy explains that sufficient easing from the Federal Reserve, whether through interest rate cuts or other meas- ures, could eventually weaken the US dollar. This could provide relief for emerging markets, which often struggle under a strong US dollar. “Providing bright spots across much of EM after the initial scare,” he says. While the debate over a 2025 reces- sion continues, experts advise busi- nesses and investors to prepare for various scenarios. Hashad recommends “creating contingency plans through the development of an emergency fund, debt reduction, income stream diversification, prudent investment, and skill development.” A key factor for the GCC is the stability and growth of its non-oil sectors, which have been bolstered by initiatives to diversify away from oil dependency. Investments in sectors such as tourism, logistics, and technol- ogy have helped cushion some of the region’s economies from the volatility of oil prices. The US presidential election The US presidential election in 2024 will also play a pivotal role in shaping the country’s economic outlook and its approach to recession risk. According to Hardy, “If Trump wins, he will get both houses of Congress, and the policy impact could be quite large: New tax cuts, deregulation, etc. If Harris wins, she will likely only get the Senate if her polling numbers are significantly improved from where they are currently. In that case, the potential policy impact is far smaller.” For investors and businesses with interests in the US and globally, the outcome of the election could have profound implications for economic policy, potentially influencing everything from tax rates to trade agreements. Preparing for economic uncertainty While a 2025 recession is not a foregone conclusion, the growing concerns from experts and market signals suggest it is a possibility worth preparing for. The uncertainty surrounding the global economy, paired with the ripple effects of potential US and European slow- downs, means that businesses and inves- tors should adopt a cautious approach. Hashad advises that even if a reces- sion is unlikely, it is critical to exercise more caution g i ven the cur rent economic landscape. “With certain regions being more vulnerable than others, the prognosis for the global economy is still ambiguous,” he warns. For the GCC, in particular, the reli- ance on oil exports means that even a mild global recession could have signif- icant impacts. As Hashad puts it, “We can better equip ourselves to withstand any economic storms by being aware of the risks and acting proactively.” What’s next for the GCC? For the GCC countries, the potential for a global recession brings added concerns due to their reliance on oil exports. With global demand for oil potentially shrink- ing in a recession, these nations could face economic challenges. Hashad emphasises the impor- tance of precautionary economic poli- cies and diversification to reduce the potential impacts of a global recession on the reg ion. “Precautionar y economic policies and sustained diver- sification initiatives will be essential to reducing the possible effects of a global recession,” he says. The signs of an impending recession have been evident since 2022, an expert believes We can better equip ourselves to withstand any economic storms by being aware of the risks and acting proactively ABE_2511_46-48_2025 Recession_13401869.indd 4829/09/2024 08:17Santorini* Jaipur New York Washington, D.C. Toronto Cairo Amman Tel Aviv Kuwait Beirut Bahrain Jeddah Muscat Karachi Doha Riyadh Dammam ABU DHABI Mumbai Bengaluru Hyderabad New Delhi Islamabad Lahore Seychelles Nairobi Casablanca Madrid Málaga* Lisbon Barcelona Nice* Melbourne Sydney Kochi Kolkata Bangkok Beijing Phuket Seoul Jakarta Bali Kuala Lumpur Singapore Tokyo Osaka Manila Copenhagen Athens Mykonos* Istanbul Brussels Rome Geneva Zurich Frankfurt Paris Dublin London Manchester Vienna Prague Warsaw Ahmedabad Malé Düsseldorf* Moscow St Petersburg Chennai Chicago Johannesburg Shanghai Milan Amsterdam Munich Thiruvananthapuram Kozhikode Colombo Antalya* Al Qassim Boston to over 75 destinations worldwide. 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