Blockchain, TTP Attacks and Harmonious Relationship with AI

Abstract

Blockchain and decentralised distributed ledger technologies are being viewed as a mechanism to provide further protection and enhance the security of data by using its properties of immutability, auditability and encryption whilst providing transparency amongst parties who may not know each other; so, operating in a trustless environment. It’s true that blockchain has its roots in cryptocurrency applications and is still evolving for that purpose in the financial sector, but many other organisations across different industries are beginning to see the non-crypto use cases where this mechanism to record data that cannot be changed or reversed or apply as smart contracts (as a way to time-stamp transactions between parties) is becoming extremely relevant and purposeful. A variety of industry sectors, besides Finance, has undertaken the use of these distributed technologies and beneficial attributes of blockchain from the healthcare and pharmaceutical, real estate, retail and supply chain, legal and publishing. Organisations have flexible options to run blockchain as permissionless (anyone can join), permissioned (where those need to be invited) or hybrid (a consortium type) and whether data should be held on-chain or off-chain. With industry entering its fourth industrial revolution (Industry 4.0) the addition of blockchain as a complimentary technology has its place and there are some industries very suited to the significant impact it may bring. Also, the advances of Internet of Things, Machine Learning and Artificial Intelligence has meant more pressures on potential impacts to data and the ripple effects that cyber-attacks may cause. This has also become complicated, as cyber-attacks have become much more sophisticated over recent years with the different configuration types and various industry sectors have suffered from a range of these different attack vectors, resulting in some devastating outcomes. These have manifested in the shape of ransomware, malware, manipulation methods, phishing and spear-phishing. Whilst data breaches are a serious incident, in most organisations, there is a growing concern regarding attacks that are designed to have a more destructive effect such as the Ukraine cyber-attack in 2015 that resulted in a shutdown of the power grid or the WannaCry ransomware attack in 2017 that caused widespread chaos with healthcare institutions unable to carry out any tasks since access to data/systems was unavailable.