Blockchain Technology and Cybersecurity in Digital Age

The Internet has entrenched into our lives just like the atomic number 8 we have a tendency to respire the air. we have a tendency to ar addicted to it for nearly everything from grocery searching to finding our means on the roads. Not forgetting the daily social interactions, we’ve got on that.

Picture this…

According to the worldwide Digital 2019 Reports, there has been a gentle growth of web users by a mean of over a million new users each day. Currently, there are over four billion active web users presently in 2019 – that contains over 0.5 the world’s population. additionally, globally a mean person spends concerning vi hours and forty-two minutes on-line each day.

The hyper-connected society: professionals and Cons

The benefits ar masses to be connected each for businesses and people.

  • Increased productivity
  • Hassle-free social interactions
  • Last however undoubtedly not the smallest amount reduced impact of distance and borders on each communication and finance

What was the disadvantage of this extremely connected society? Or rather what was wrong during this super-connected society?

The loophole… this connectedness came with a large worth. and therefore the worth was – our personal information like identities, monetary info, addresses, and even life events became public or were leaked on-line.

Read this…

  1. The company, Purplesec according to that a corporation bears concerning $2.4 million because of the price of malware attacks.
  2. An investment of $1 trillion in cybersecurity between 2020 and 2025 is foretold by IT analysts so as to rule out malicious cyber threats.
  3. According to the 2019 world Risks Report, cyber-attacks contribute concerning the eightieth disruption of operation and infrastructure and information thieving contributes concerning eighty-two.

Do you suppose there’s a link between these accumulated rates of cybercrimes and hyper-connectivity? after all, there’s an affiliation. whereas the globe shrank with the ever-evolving technology, the cybercriminals became smarter and located out new ways in which to hack the info. However, as there are 2 sides of a coin, the rising technology conjointly helped organizations and people to fight for information sovereignty.

But wherever will Blockchain fits into all this…

Blockchain with its distinctive options like immutableness, decentralization, and P2P network could be a technology, which can} be able to stall growing cybercrimes and stop monetary losses due to these crimes.

Interested to understand more? Keep reading how…

1. Decentralization of information:

the most reason hackers had a field day until now’s that each one of the sensitive data was centralized or hold on in one place. Blockchain with its distinctive decentralization feature ensured that each one of the sensitive information held on at completely different computers settled in several areas. This information then will solely be accessed through a scientific discipline key, that is out there with the members of that blockchain.

Benefit: Hackers don’t have one purpose to steal the info, because it is firmly held on completely different computers. Symantec according to a large reduction in crypto-jacking by fifty-two with the assistance of Blockchain. a large success to dam ransomware to cut back law-breaking.

2. Blockchain makes IoT safe:

once cybercriminals attack they aim for basic devices like routers, cameras, thermostats as a result of these are prone to attacks. inline with a Symantec report, concerning ninetieth of the cyberattacks ar because of infected devices connected by the web of Things. However, with Blockchain technology, the data saw these devices might be stopped on a touch of suspicion.

Benefit: With the creation of a localized flow of information, it’s nearly not possible for hackers to breakthrough.

3. personal messages are secure with Blockchain:

Your information isn’t safe on either public sites or the opposite sites wherever you’ll log in for online socialization. If you frequently tweet at Twitter then keep in mind that even your twitter handles aren’t safe, as there ar malicious code lurking within the corners that steals the data. Love online shopping? watch out as E-Commerce is the most unprotected platform from such malware.

Customers’ preferences, searching behavior ar all extracted from the information – which will be purloined. Blockchain by encrypting the messages and securing every node adds a security layer on all the data/information together with those on completely different platforms.

Benefit: The decentralization feature of Blockchain ensures that each one of the data is safe and keeps social media sites connected.

Organizations like IBM have endowed concerning $200 million in Blockchain and concerning $2.1 billion has been shelled jointly in Blockchain by school companies globally.

These are a number of the ways in which Blockchain will boost cybersecurity for organizations world over. And if the reports are to be believed then concerning seventy-fifth of the CEOs have prioritized their investments in Blockchain technology, because it has become a revered name in cybersecurity.

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