The Role of Blockchain in Cybersecurity

Technology > Security

Accounting firm Deloitte and its partners are set to make their own version of the blockchain / Photo by: via Flickr


Deloitte partner companies from around the world are set to collaborate to develop their own version of a blockchain consensus consortium in a bid to produce high-end services and solution for clients.

With this, the companies made a few assessments associated with the security mechanism of blockchain technology. Forbes, on its website, lists the assessments, as follows:

• The mechanism moves to develop public and private ledgers via a data and system's outlook, which will reach blockchain's current level of security.

• Assessing the current technology maturity level requires the use of the CIA triad model, which includes three key areas: availability, confidentiality, and integrity.

• Addressing the importance of non-repudiation, as well as authentication, authorization, and audit (AAA) as basic security aspects for operating new networks and systems, and also for information protection.

Forbes adds that there has been yet a system developed to be 100 percent safe in terms of cyberdefense. With the fact that cybercriminals are always looking for new ways to attack systems, and with the remunerative nature of cybercrime, any system that is known to be safe today will not hold that sureness tomorrow.

Blockchain's capability to mimic other network systems, standards, and cybersecurity controls is the key with regard to adoption for organizations that make use of blockchains in their technical infrastructures.

Moreover, the technology's utilization for blockchain innovation is now passing the form of digital money (Bitcoin, Ethereum, IOTA, etc) and going over to become a helpful tool to support cybersecurity. Execution of thorough encryption and information appropriation conventions within a system can guarantee businesses that their data will be secured and unmodifiable by system operators.

The general web and innovation will continue to grow as more people join in. Along with this is the additional delivery of information and more programmers will venture in to take or degenerate that information.

The innovation that birthed blockchain is "flexible and amazingly helpful" for the future of the web, Forbes says, adding that it will allow clients to secure their information.