Not only will blockchain help win the war against cybercrime, it will dramatically reduce the volume of hacks. Not sure this is true? Read on to understand how this will be possible.

As we shared in the ProActive Technology Group blog post, blockchain is a distributed, timestamped and cryptographically protected ledger system. Even though its first successfully introduction was through Bitcoin, the expected use for this methodology is unlimited and will most likely include real estate transactions, construction deals, legal proceedings, healthcare diagnosis and long-term patient care. And this is just the tip of the iceberg.

Once standards are established, blockchain will redefine business processes and workflows. It is expected to have a positive effect on managing regulatory standards, healthcare compliance and cybersecurity.

Blockchain and Cybersecurity

  • Blockchain will prevent fraudulent activities from happening because it can detect data tampering from its onset.
    Every transaction is timestamped and digitally signed. Everyone will be able to trace each transaction to a time period and review every block. In short, it has capability to verify the integrity of the data, most of which will be completed through AI.
  • Because the blocks will be distributed across multiple platforms, bad actors have no central entry point.
    Even if a hacker enters a block or tries to replicate one, the entire system will be examined to locate the block that’s different from the rest. Because every block is time stamped and can never be removed, it will be hard, if not impossible, to fake out the system. The hacker’s attempt will be eliminated from the chain and recorded as false.
  • Businesses will be able to authentic users and devices without the use of passwords.
    Organizations will utilize distributed public key infrastructures which will provide each device with a specific SSL certificate carried out through the blockchain, making it impossible for attackers to use fake certificates.
  • Elimination of DDoS attacks.
    Blockchain will decentralize the DNS, making impossible for hackers to enter and take down a central system.

Conclusion

Blockchain technology is coming. It will help individuals, companies and the government protect their data and keep cybercriminals at bay. This isn’t to say systems will never be hacked. Cybersecurity standards and controls will have to change as this data processing methodology gains more acceptance. Stay tuned for more exciting announcements.

 

Shellproof Security Can Help Your Organization Prepare for Blockchain

As you make plans for blockchain, think of us! ShellProof Security can provide your organization with custom-tailored solutions that are effective and affordable. Give us a call today at 212-887-1600 to set up your free, 15-minute consultation!