Blockchain and Cybersecurity

Abstract

Computer exploitation is on the rise. Advanced adversaries are becoming more capable and destructive. Organizations must become increasingly effective at mitigating their information security risks. Effective cybersecurity is more important than ever as immeasurable amounts of personal and potentially incriminating data are currently stored in websites and social media platforms. The Internet is full of powerful hacking tools and hackers are using them extensively to cause damage to individuals and organizations. Attacks are becoming stealthier, having a greater financial impact, and causing broad damage. Reports of organizations being hacked and suffering reputational damage have become commonplace. According to Symantec, cybersecurity threats in some categories rose to 600% in 2017 (Symantec 2019). A continuous stream of cybersecurity breaches in 2017 underscores our inability to provide adequate security for our online information. Organizations are spending significant time, financial, and human resources to combat cyber threats and combat cyberattacks, however some companies are still getting compromised. The traditional prevention approach to security architecture has failed to prevent hackers from intrusions. Blockchain technology is that proactive approach to security needed to enhance the capabilities of organizations to detect and prevent threats that will inevitably slip through existing defenses.