22 Nov Re-examining Cybersecurity through Blockchain
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This week in cybersecurity from the editors at Cybercrime Magazine
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Sausalito, Calif. – Nov. 22, 2024
Despite staggering investments in cybersecurity, hackers are still exploiting vulnerabilities, and intercepting network, application, and device communications. Cybercrime is expected to inflict damages worth nearly USD 10.5 trillion by 2025, according to a Cybersecurity Ventures report.
Today’s state-of-the-art cyberattacks are outwitting all traditional security methods including cryptography, key management, authentication, and even privacy challenges. Now many enterprises are rethinking the systems responsible for the creation of these vulnerabilities in the first place, and one technology that has emerged as a potential game-changer is blockchain.
Blockchain is a path less travelled toward greater security and it is not as hospitable to cyber criminals. It not only verifies integrity and ownership effectively but also provides strong encryption and reduces vulnerabilities. Moreover, it can also eliminate the need for passwords in some cases, which are often called cybersecurity’s weakest link.
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