What simply started as the technology behind Bitcoin, has taken over the world today. Blockchain technology has seeped into every sphere of our lives from banking to healthcare and beyond. Cybersecurity is an industry which has been significantly impacted by this technology with a scope for more in the future. In Alex Momot’s words, ‘By removing much of the human element from data storage, blockchains significantly mitigate the risk of human error, which is the largest cause of data breaches.’
Blockchain Technology is defined as a decentralized distributed ledger system which is used to record data transactions across multiple computers. The reason why this technology has gained popularity is that you can put any digital asset or transaction into the blockchain, the industry does not matter. Blockchain technology can be used to prevent any type of data breaches, identity thefts, cyber-attacks or foul play in transactions. This ensures that the data remains private and secure.
Here are some use-cases of Blockchain in cyber security.
Protected Edge Computing with Authentication
Edge computing is good for IT efficiency, productivity and power usage but it represents a security challenge for CISOs, CIOs and the more extensive business; thus Blockchain is providing a solution to secure IoT and Industrial IoT. It will help in the strengthening of authentication, enhanced data attribution and flow as well as upgrade record management.
Advanced Confidentiality and Data Integrity
Owing to its nature of public distribution, Blockchain was created without any particular access controls initially. But with time, as the technology started providing solutions to multiple industries, blockchain implementations now have scope for data confidentiality as well as access control. The complete encryption of the Blockchain ensures that data as a whole or in part is not accessible to any wrongful person or organization while in transit
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