Blockchain for Enterprise Security

By Enterprise Security Magazine | Friday, November 30, 2018

When it first came out, blockchain became the buzzword for the transaction infrastructure for Bitcoin and other cryptocurrencies. But, lately, many tech-savvy industry leaders purview this ledger solution as the bridge for the security gaps in companies. However, for blockchain to render potential benefits, many challenges remain, such as scalability and privacy.

Understanding Blockchain

For starters, blockchain is a chain sequence that is shared through blocks and if any information is altered or mismatch, it invalidates the entire chain. In recent years, as the cryptocurrency markets have swelled, interest in blockchain technology has proliferated. While still at the nascent stage, blockchain holds immense promise to tackle the immutable and ever-growing cybersecurity challenges of digital identities and maintaining the integrity of data.

Overarching Problems for Growth of Blockchain

Albeit the demand for blockchain services has skyrocketed in various enterprises, there is still a dearth of blockchain expertise for developing new applications and. Despite such hindrances, the demand for blockchain is not slowing down. Today, several companies are leveraging blockchain to give the opportunity to black and white hackers to design anti-malware tools. Instead of going through the traditional hiring process, here, everything is conducted via blockchain where developers are paid in cryptocurrency upon successful completion of projects.

Being Future Ready

Despite radical improvements in the blockchain, there’s still more room for improvement. For instance, today companies have limited use cases for this technology as there are real apps embedded with the blockchain. While in the future these numbers are expected to reach unprecedented counts, the current scenario is far from what the market can achieve through this nascent technology. The biggest strength that will encourage the growth of blockchain is its unbroken chain and fragmented chain that increase the efficacy of enterprise security. However, for this to happen, the emerging technology has to be integrated with apps and services.