Blockchain as a Part of Data Security Strategy

Capital Markets CIO Outlook | Monday, February 18, 2019

Data security is a key aspect of IT for all sizes and types of organizations. A key measure of data security technology is encryption where digital data, software or hardware, and hard drives are encrypted, and therefore, unauthorized users and hackers will be unable to read them.

Using authentication is one of the most common methods for data security. Users must provide a password, code, biometric data, or any other form of data to verify their identity before accessing a system or data is granted with authentication. When specific information needs to be kept secret for a few staff in an organization, the data masking method can be used which will not allow them to see the data without complete authorization to it.

Data encryption involves converting data to a code which cannot be read by others without an unlocking key to the code. Data backup helps users to recover the lost data as this technique creates copies of data and stores them. blockchain uses distributed ledger technology which helps to prevent fraudulent activities through consensus mechanisms, and data tampering detective method.

Using authentication is one of the most common methods for data security. In order to access system users must provide a password, code, biometric data or any other form of data to verify their identity to be granted with authentication.

Check Out This: Top 10 Blockchain Solution Providers  

A security system used in an organization can use a distributed public key infrastructure to get authentication to devices and users with the help of a blockchain. This system provides a unique Secure Sockets Layer (SSL) certificate for each device instead of a regular way of providing a pin or password. SSL certificate data management is performed on the blockchain, making it virtually impossible for an attacker to use fake certificates.

Blockchain users can keep their data safe on their computer in the network. While some of the key blockchain capabilities offer data availability, integrity, and confidentiality, companies should ensure that they follow cybersecurity standards and controls in their technical infrastructure to secure them from external attacks.

Few Blockchain companies:  BLOQ, Cognive, Global Debt Registry 

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