According to a 2017 study of global executives, 33% of organisations are considering or are engaged in Blockchain. 56% of these executives say that cyber security improvements against cybercrime are why they are considering blockchain in their organisation.
One technology at a time, Blockchain is changing how we interact with the technological world. Blockchain security applications are strengthening the current ones and few companies have stepped into the industry, transforming the way we approach cyber threats. Considering that 4 000 ransomware attacks have occurred every day since 2016, cyber security needs to innovate.
Blockchain’s approach to storing and sharing information provides a solution to the security disaster we are facing. The same security providing high-level encryption to cryptocurrencies such as Bitcoin can also serve as protection against cyber attacks and hackers. In this post, we look at 4 companies that are doing exactly that.
Polyswarm – Blockchain Cyber Security Anti-virus
In the PolySwarm marketplace, decentralizing threat detection allows people from all over the world to participate. Being rewarded for submitting correct assertions also encourages experts to continue learning and innovating, allowing them to continually provide high-value cyber security.
Current approaches to authentication on the internet include certificate authorities and webs of trust. Both of those approaches have significant drawbacks: the former relies upon trusted third parties, introducing a central point of failure, and the latter has a high barrier to entry.
Instead, the creators of CertCoin have found a way to decentralize the process, removing middle-man authorities, and leveraging the distributed nature of the blockchain to create an auditable certification ledger, available to the public, without a single point of failure.
GuardTime – Blockchain Cyber Security Authentication
GuardTime works in a variety of industries to replace key-based data authentication by storing hashes of original files, data and the like on blockchain. When running hashing algorithms, they’re able to verify other copies of this information and compare results, allowing for quick discovery of manipulations.
This community-driven ecosystem is one we can get behind: supporting hacker ethics, encouraging legitimate research, and nourishing the relationship between blockchain and cyber security.
“Our ecosystem will allow customers to acquire high-quality penetration test services and vulnerabilities assessment for their products. The whole process, as well as our findings, are timestamped and published to the blockchain-based HackenProof Vulnerabilities and Countermeasures Certificate, uniquely issued for each project,” explains Hacken.io on their homepage.