In our most recent article, we explored the ways on which blockchain can be utilized to prevent potential cyber-fraud and decrease the probability for breaches. As a decentralized, user-controlled electronic ledger, blockchain is constructed on a foundation of offering advanced security and trust. By employing cryptography, blockchain transactions and trading are recorded publicly, linked and time-stamped to the previous block.
As a consequence, blockchain is becoming a priority for business leaders, especially in the sectors of energy, financial services and manufacturing. By integrating blockchain, the infrastructure of digital services will transition to a more citizen-focused foundation.
If blockchain is implemented on a large scale, there will be several key real-world uses for the technology, especially pertaining to security. These uses include:
1. Improving data integrity and confidentiality
Though blockchain was created for public distribution and use (meaning there are no specific, centralized access controls), some implementations of the technology make data confidentiality a priority. In an age when data is easily breached, the ability of blockchain to be fully encrypted ensures that the stored information is never accessed by unauthorized third-parties or parties in transit.
2. Safeguarding private messaging
Certain companies, such as the startup Obsidian, are utilizing blockchain to safeguard private messaging and information exchanged in emails, social media and messaging apps. Unlike the encryption style of iMessage or Whatsapp, which employs end-to-end encryption, using blockchain allows companies to secure users’ metadata. This metadata is then distributed throughout the blockchain ledger at random, making it nearly impossible to compromise the data at any single point. Using blockchain to authenticate communications could therefore be a viable solution for impenetrable messaging, which will be advances to companies who are most vulnerable to foreign attacks.
3. Reducing DDoS attacks
Blockchain’s ledger system is also helpful when it comes to protecting against distributed denial of service (DDoS) attacks—which, in recent months, are rising over and above 100Gbps. Gladius, a blockchain startup, claims that by using its decentralized solutions, companies can access “protection pools” that can provide better security and accelerate the safety of their content.
4. Fortifying edge devices with authentication
As information technology (IT) begins to shift to the use of “smart” edge devices with augmented connectivity and data storage, organizations are beginning to look to blockchain to even further improve device security. Presently, edge devices are a cause for concern for chief information security officers (CISOs) and chief information officers (CIOs). Given that blockchain strengthens authentication, streamlines record management and enhances data attribution, many CISOs and CIOs are recognizing the value in securing Internet of Things (IoT) devices via blockchain. In fact, some organizations – like the startup Filament – are even considering the integration of blockchain at the chipset level. Doing so allows sensitive IoT data to be coded into the blockchain with the goal of decentralizing information exchange and interaction on edge devices.
5. Refining DNS safety
Taking a blockchain approach to storing domain name system (DNS) entries could theoretically refine security by mitigating at-risk targets. Often, when hackers attempt to bring down a DNS service provider, they are able to cut off access to critical internet infrastructure. Yet, using blockchain to create a more trustworthy DNS infrastructure may be a worthwhile solution to constructing a more trusted internet infrastructure on the whole.
As companies begin to apply cryptographic information storage to their databases, blockchain technology is gearing up to transform the way data security is managed from an infrastructural standpoint.
To understand the extent of your present vulnerabilities, SubRosa Cyber Solutions can assess your security infrastructure and offer solutions in relation to blockchain’s shared ledger technology. Contact our team of cybersecurity experts today to learn more about the real-world applications of blockchain.