Cyberattacks can be a major threat to any business and can spoil its reputation and wellbeing in no time. Data breaches may also cause terrific financial losses for growing businesses, so its always best to have a strong cyber security team trained under some Cyber security program to avoid such mishaps. Considering block-chain, it had started as a basic backup technology for bitcoin cryptocurrency, but it had further grown popularly and showed its worth in many technology fields now. Cybersecurity is one area that largely leverages the functions of blockchain. This article will discuss some of the blockchain use cases for effective cyber security measures or growing businesses.
The changing scenario in cybersecurity
In this fast-paced technology environment, cyberattacks continue to become very sophisticated and challenging for organizations to tackle. Many new technologies are rolling out, like 5G internet connectivity, which offers faster access to networks and increased downloading speeds, which has made it much easier for hackers to launch their attacks more efficiently. There is a big appetite for things like IoT use defectively in various applications from home automation to smart cities. In this highly connected world, the attackers have endless opportunities to plan their games.
Blockchain is a decentralized and distributed ledger system, which can efficiently and securely record transactions between various computers and networks. Blockchain was basically started as a technology behind cryptocurrency, which has now grown into a highly secured mitigation technology to ensure cyber security.
Human errors remain to be a major cause of data breaches, whereas automated data storage and administration can reduce the human involvement environment to make the system better. Blockchain can also be effectively utilized in various sectors of the industry, and different kinds of digital assets and transactions can be inserted into the blockchain.
For many industry-related areas, this new technology of blockchain can be considered a very reliable protocol for cyber security. It has the capability to catch foul plays and provide transaction integrity. Blockchain technology is also designed to be very transparent, so it can manage privacy and confidentiality compliances.
Cyber security use cases of blockchain
Even if the option of blockchain is not fully unbreakable, it can become the most available methodology to protect digital transactions in the realm of computer networks. As intended, this technology can offer information integrity assurance to a certain reliable level. Many sectors will be able to benefit from blockchain as it has proven capabilities to be practical in different real-time utilities. One major use case of blockchain lies in integrity assurance for cyber security solutions for various technologies. Here are some of the ideal use cases of blockchain technology to strengthen cyber security. Before exploring these, you should also take care of the proper administration of your business database. Consult RemoteDBA.com for secured and reliable business database administration services.
Secured private messaging
As the internet is now shrinking the world into a global village, people are able to connect better through different online platforms. There is also an increasing number of social media platforms serving different purposes of human connectivity. There are many social apps, which are being launched for personal and commercial purposes. A huge amount of data and metadata are being collected during human interactions with all kinds of social apps. The majority of social media platforms try to protect the services and their data by using unreliable or weaker passwords.
Even though companies are warning continuously against false practices people tend to follow in password creation, many of them do the same repeatedly. Blockchain can be effectively used to create security protocols in a standardized manner. To enable cross messenger communication, blockchain can be used to run the unified API frameworks. There have been numerous attacks in the past, which were executed against social platforms like Facebook and Twitter to stop such attacks. As a result of these attacks, millions of accounts were hacked, and critical user information was taken away. In such a scenario, implementing blockchain-based security will help to safeguard these messaging systems and prevent various cyber-attacks.
Hackers are now increasingly using advanced devices like routers and thermostats to gain access to the IoT systems like home automation or industrial networks. There is an increased obsession for artificial intelligence, with which it has become easier for hackers to access a system like home automation through smart devices. In many cases, there are a large number of IoT devices that have suspectable levels of security features. People are not fully aware of this possibility yet.
In such a scenario, blockchain will be able to use dedicated security systems and devices to decentralize the administration. This approach can give the capabilities to the devices for making security decisions on their own. Based on decentralized administration, it will make the Edge devices highly secured by detecting any suspicious traffic entering into the network. Normally, the hackers penetrate centralized administration or a device to gain control of the entire system. Blockchain can ensure that such attacks are effectively prevented by decentralizing device authorities.
Most of the companies still use a centralized form of storage, and the intruders can access the central system easily if they succeed in their intrusion attempt. The hackers can easily find a single vulnerable point to enter and then gain access to the entire system. These systems may easily leave confidential and sensitive data open to intruders.
You can protect sensitive data with a decentralized data storage approach by using blockchain technologies. This is a mitigation method that makes it harder or even impossible for the hackers to get access to the data storage systems, which are not centralized. The majority of the storage services companies are now exploring innovative ways to adopt blockchain for decentralized data storage. As an example, you can see how the Apollo Currency Team is organizing blockchain technology in their system through the Apollo Data Cloud. So, here we have discussed a few areas where blockchain is effectively used in cyber security. A lot of research and development is happening in this field, which is going to shape the future of cybersecurity based on blockchain initiatives.