Blockchain for cybersecurity

Published by

May 26, 2021

There is no doubt that data – be it a desktop file, an article on a server, or a network packet – rules the world we live in today. The worldwide access to massive amounts of information increases the potential of security attacks, which, in turn, puts ownership of data at risk. Fortunately, the rapid development of blockchain technology endows entities with the high degree of data security thus minimizing the chances of hacking. 

At Brugu, we use blockchain technology to eliminate the human element from the data storage equation. This allows businesses to freely use and store information without worrying about digital attacks both from inside and outside. Our 200+ team is constantly striving towards excellence by using the latest technologies available aimed at protecting industries’ privacy from being invaded. 

The current problems in Cybersecurity 

Evolving on a daily basis, challenges in the cyber world have led to the appearance of the following threats: 

Community of cybercriminals 

The emergence of proficient and resourceful staff capable of delivering time-efficient work poses danger to a wide range of industries. From freezing the victim’s computer for the monetary demand to be satisfied to selling hacking tools to less skilful criminals – new practices are being invented every day. 

Widespread usage of mobile technologies 

The growing number of users taking advantage of the easily accessible mobile appliances increases the likelihood of them becoming online targets. The adoption of mobile payment systems negatively affects customers’ security thus contributing to the cases of cyber attacks. 

The massive growth of the loT network 

With billions of web-enabled devices being in use, a lot of manufacturers tend to ignore their security infrastructure in the process of creation. This puts individuals utilizing them in risk, especially when having in possession more than one appliance. 

Soundness of a third party 

The danger of losing vital data significantly increases when a third party gets hacked. Taking into consideration the broad spectrum of entities still using the services of a third party, it is no wonder that data breaches continue to take place. 

To diminish the possible risks of cybercrime, blockchain technology with its decentralized nature allowing the storage of almost impossible to alter, obstruct or delete data is implemented. Its applications across the majority of industries certainly make it stand out by serving as the leading driver in security matters. 

Benefits of the Blockchain for Cybersecurity 

Integrity

Secured Network AccessBy using Interplanetary File System (IPFS), a decentralized storage Two-step authentication process removes the concept of the. technology, it is much easier to encrypt data on any blockchain hackable password-based network authorizations thus avoiding platforms. This authorizes businesses to keep their digital documents risks associated with forgotten passes or human error. on a ledger and be assured of their security and accessibility. 

Sustainability 

Since blockchain does not have vulnerable points, the system will run without failure even if DDoS attacks occur – by the virtue of numerous ledger duplicates. 

Resilience

No matter the offline or under attack nods, the system will continue to operate efficiently without any limitations. 

Traceability 

Companies are given a supplementary level of assurance – the inability to verify the authenticity of one’s signature by an outsider -thus attesting blockchain’s reliability. 

Customer Trust 

Suspicious customers will no longer have reasons to be sceptical -transparency-infused platform provides them with their personal and highly secured data. 

loT Decentralization Centralized networks are old news – the rapid development of the internet of things calls for the tamper-proof system able to communicate with other devices without the help of a third party. That is where blockchain with its decentralized essence comes into play. 

Upgraded Smart Contracts The ledger-based software programs appealing to a great number of modern enterprises are revamped via blockchain to diminish the risk of cyber attacks. 

Examples of Blockchain Cybersecurity Industries Potential 

Be it a health record, a bank account, a social security number or an identity card – the explosion of online data in our day and age admittedly jeopardizes everyday information used by hundreds of industries. Vulnerability to cyber attacks demands the protection of data, which can be done through the use of blockchain technology.

Cryptocurrencies 

A growing daily number of cryptos can benefit from operating on the blockchain platform that supplies them with integrity via built-in cryptography and public data sharing. The secure cryptocurrency trading is enabled due to the adopted cybersecurity protocol. 

Banks 

Since the financial sector is the most prone to hacking, both traditional and online banking are in need of the blockchain technology to guard their data. A multi-layered security protocol has the capability to decentralize the risk thus solving cybersecurity issues on a global scale. 

Government 

By putting a barrier between accessible data and cybercriminals, government agencies could easily identify possible attacks and trace information back to its origin. The securely instilled cybersecurity priorities are bound to be accomplished with the decentralized storage of encrypted data. 

Defence & Military 

In the armed forces department with its sensitive data related to missions, innovative technologies and navy, blockchain presents a legitimate information safeguard. Its implementation puts military data privacy to ease, therefore enabling their consequent better performance and state impact. 

Blockchain for Cybersecurity Forecast 

The world of digitalization is moving forward, and so is blockchain technology. As more individuals start exploring the webs, more cyber-criminals attempt to create more sophisticated hacking techniques. For the safety of your data, it is essential to boost cybersecurity through the implementation of the decentralized ledger. 

Brugu puts your safety as a priority by providing the platform for the secure storage of your data not reachable by hackers. 

On top of that, the lowering of the identity theft chances enables a cyber defence mechanism aimed at combating fraud and improving the overall degree of privacy.