How Blockchain Technology Can be an Effective Solution to Cybersecurity Problems
By: Citizen Truth Staff
Tags: Chozun, Cryptocurrency, Coral Health, Blockchain Technology, Blockchain

How Blockchain Technology Can be an Effective Solution to Cybersecurity Problems

The Digital Age Has Brought Security Risks

Well-known brands such as Equifax, Sonic, and Western Union recently experienced security breaches that put their customer’s private information at risk. However, data breaches in the digital world are widespread — highlighting the need for data security to be prioritized by entities ranging from gaming companies, third-party healthcare providers, and universities.

The United States Department of Homeland Security lists the following overview concerning cybersecurity on their website:

Cyberspace is particularly difficult to secure due to a number of factors: the ability of malicious actors to operate from anywhere in the world, the linkages between cyberspace and physical systems, and the difficulty of reducing vulnerabilities and consequences in complex cyber networks.

The department further addresses recent actions in the attempt to secure the digital sphere:

On January 5, 2017, the U.S. Department of Commerce and the U.S. Department of Homeland Security released a draft report to President Trump in response to the Executive Order on Strengthening the Cybersecurity of Federal Networks and Critical Infrastructure issued on May 11, 2017. The report, which was created with broad input from stakeholders and experts, summarizes the opportunities and challenges in reducing the botnet threat, and offers supporting actions to be taken by both the government and private sector in order to reduce the threat of automated cyber-attacks.

Blockchain Presents Possible Solutions

In a recent interview, Coral Health executives explained how their healthcare platform will be able to reduce administrative waste in healthcare — while also giving patients enhanced security and control over their medical information.

Another company, Chozun is using blockchain technology in order to help travelers around the world plan and execute their excursions with ease. Chozun details their privacy policy, “Aside from the contents of this Privacy Policy, it is Our policy to comply with the APPs [Australian Privacy Principles’]. This Privacy Policy is incorporated into, and subject to, the AFTR (trading as CHOZUN LABS) (trading as CHOZUN LABS) Terms and Conditions.”

Chozun’s attention to privacy is enhanced by the security protocol blockchain offers. Travis Biehn, a technical strategist at the solutions firm Synopsys commented to ZDNet:

The decentralized systems that can be built with blockchain are exciting and applicable across cybersecurity topics — with promising areas like addressing hardware sourcing supply-chain problems, and software supply-chain problems, the increased transparency afforded by blockchain technology definitely lends itself to solving a lot of tricky cybersecurity problems.

The following video explains how blockchain can be an effective solution to cybersecurity problems:

Future Of Digital Security

While blockchain technology enhances privacy online, it may take several decades for the technology to be accepted by the global community. If the technology can go without any major security breaches, skeptics who are privacy advocates may begin partnering with blockchain companies.

It’s likely younger generations will accept companies like Chozun and Coral Health quicker than those who did not mature in the digital age.