75% of board members and CEOs have named technology acquisitions and cyber security among top priorities for any company in terms of digital growth. Many blockchain technology-based solutions are coming up to resolve the cybersecurity based issues.
NASA recently implemented blockchain technology to boost its cybersecurity standards and prevent the denial of services and malicious attacks on services such as air traffic. NASA will be implementing the security of blockchain technology to protect individual entities and businesses from cyber attacks. Here are a few use cases of blockchain technology in cybersecurity.
Decentralized Storage Solutions
Each business accumulates huge amount of valuable and sensitive data. However, most businesses still store all this data in a centralized storage system which is a golden opportunity for hackers and frauds.
We can prevent this with the security of blockchain technology and its storage solutions which are gaining popularity slowly. For example, The data cloud developed by the Apollo Currency team lets its users archive data on the decentralized ledger and give permission to selected few to access the data. Additionally, the cryptography based access keys can be retracted at any time, which further reduces any risk of a breach. Because of the nature of decentralized blockchain technology, cyber criminals do not have any point of intrusion, they cannot access the repositories of entire data even if they are able to crack one access key. This is one of the major features of blockchain which is attracting the attention of enterprises for data privacy solution.
DNS or Domain Name System is basically a phonebook for all the websites on the Internet where any individual can access this data online via domain names, such as espn.com or nytimes.com.
DNS is again kept in a centralized way. This data is pretty easy to hack into which can break the connection between IP address and website name and cause havoc. Hackers can scam the subscribers, cash websites, route people, to other sources, or make the website unavailable. In case they pair a DDoS attack with a DNS attack, it would make the website utterly unusable for long periods of time. The most effective solutions to such issues is to enable real-time alerts and tail log files for malicious activities.
The security of blockchain technology system can add security to DNS. Decentralized data, would be difficult to hack into and exploit points of vulnerability.
Secure Private Messaging
As chatting is becoming more popular in commerce, huge amount of data is collected from users during these chats on social media. Many messaging systems currently use end-to-end encryption. However, blockchain is starting to gain attention when it comes to keeping information secure. Currently, most apps lack the blockchain security standards which offer a unified API framework and few set security protocols with which one can enable “cross-messenger” communications.
The emerging blockchain ecosystems are secure and can easily tackle beyond cryptocurrency transactions. Blockchain safeguards all information exchanges and enables better connectivity amongst various platforms.
Do you think blockchain can resolve present-day cybersecurity concerns? Let us know in the comments.