5 Ways Blockchain Technology is Improving Business Cyber security

5 Ways Blockchain Technology is Improving Business Cyber security

Primarily conceived as a technological basis for trading cryptocurrencies, blockchain has risen to become a popular platform capable of pushing the entire world forward. Yes, if developed and applied properly, blockchain can serve many a purpose in today’s tech-driven world, helping entire industries grow and evolve while ensuring next-level security and the complete safety of sensitive business data. In short, blockchain is the new, safer internet that the world needs, taking cyber security to the next level for the commercial and residential sector. 

This is becoming particularly important in our tech-driven world where malicious online scammers and hackers are always looking for ways to breach corporate data structures and access business and consumer information. Forward-looking business leaders should look toward blockchain technology as a way to enhance security on all fronts and create a safer environment for all. With that in mind, let’s take a look at how blockchain technology is improving business cyber security.

Maintaining data integrity and confidentiality

For many companies, ensuring data integrity and confidentially, particularly while data is being transmitted, is of the utmost importance. After all, the last thing you want to happen is for someone to intercept the data you’re sending or receiving and use it to access your network, or launch a social engineering attack on one or several of your team members. While standard data encryption is a powerful way to prevent these scenarios and deter hackers, it not foolproof by any stretch of the imagination.

This is where blockchain comes in as a complete end-to-end data encryption system that ensures you have complete control over the data you’re transmitting or storing, and that none of it can be accessed by any external parties. For this reason and many others, companies from around the world are using blockchain to maintain data integrity and confidentiality through secure access control and various restrictions. Combined with your standard cyber security measures, you can transmit and store data knowing that no one can access it without your explicit approval.

Advanced domain name security

One of the primary targets of hackers and scammers is, of course, your domain name system (DNS), simply because breaking into DNS accounts allows them to completely disrupt a company’s online presence, and bring down their entire website with ease. Not only that, but hacking into a company’s domain name system allows them to access sensitive business and personal information, which opens numerous doors for further exploitation and abuse. Needless to say, you can’t allow anyone to break into your DNS if you want to keep your operation running smoothly.

This is especially important if you accept payments through your site and if you want to ensure PCI DSS compliance in your country and abroad. To that end, blockchain technology is the perfect way to store domain name systems because of its decentralized nature and comprehensive data encryption along with other security features, which effectively make it impossible for hackers and scammers to access your domain name systems. In turn, this ensures that your online presence is safe against domain name theft and attacks.  

Diminish and prevent DDoS attacks

Speaking of cyber-attacks, one of the most common ways hackers will try to attack corporate data centers is through DDoS (distributed denial of service) attacks, which usually means that they are attacking your server using numerous computer systems. This effectively leads to system crashes or slow-downs at the very least, as well as various other problems that can jeopardize your entire operation.

Now, it is important that every one of your IT team members masters cyber security through a comprehensive cyber security course online in order to protect your systems and thwart malicious activity. However, it’s also a good idea for you to leverage blockchain technology to make your computers, network, or server a part of its decentralized system in order to help protect against DDoS attacks, and any other type of cyber threat.

Incorporating blockchain technology into IoT

Smart technologies continue to evolve and find their place in residential and commercial sectors around the world, helping entire industries improve their processes and improving the overall quality of life for the consumer in many crucial ways. It should come as no surprise, therefore, that cyber-criminals are continuously looking for ways to exploit IoT devices and applications to access corporate data stores and obtain sensitive consumer and business information. 

This creates numerous weaknesses in an organization’s cyber defenses, which IT experts have to constantly test and improve to prevent cyber-attacks. Given the fact that data stored on the blockchain cannot be altered or accessed externally, it’s a good idea to incorporate blockchain technology into your IoT system. This will provide security to remote IoT devices as well. 

Taking messaging security to the next level

Companies nowadays are constantly communicating internally and externally, which is why they need to ensure complete data protection for private messaging, whether employees are communicating with other team members or if they are communicating with clients, partners, and customers. Blockchain technology enables complete and fully-private encrypted messaging for all parties, making it the last piece of the puzzle for all companies that want to ensure the privacy of all data transmitted via messaging apps and devices.

Wrapping up

Cyber security has become a real problem for companies in almost every industry, simply because the online world has become a dangerous place where hackers and scammers are constantly looking for ways to access corporate information. With blockchain technology at your site, though, you can take your cyber security efforts to the next level and ensure complete online security for your team.

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