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Blockchain has come out of the proof of concept stage, and now lots of pilot projects are going on all across the world. Blockchain based cyber security is the future of cyber-security. Blockchain is known for its non-repudiation, immutability and data authenticity. Blockchain based cyber security companies are growing and getting popular. We shall discuss blockchain based cyber security.
In the context of the cyber security, dependency on technology and the internet has resulted in newer business models. There are new types of risks and opportunities. Cyber-attacks have become more targeted and complex. They are more sophisticated due to increase malware.
Cyber criminals are just waiting to steal valuable intellectual property (IP) data, personal identifiable information (PII), health records, financial data and others which can be of any profitable nature to them. Let us try to discuss, can blockchain fix cyber security? We shall also try to find the blockchain cyber-security use cases.
Blockchain Based Cyber Security
Blockchain and Cyber Security Framework
Blockchain technology and cyber security, if go hand-in-hand, can solve the present security threats. Blockchain features like transparency, auditability, data encryption and operational resilience will come into play. Blockchain can provide advanced security controls using the public key/ private key infrastructure (PKI) encryption to authenticate and authorize parties and encrypt their communication using PKI.
Blockchain and Cyber Security Issue: Confidentiality
Cyber security can be deployed using a combination of public and private blockchain. If an attacker gains access to the blockchain network and It’s underlying data, full encryption of the data will come in use. The attacker cannot read or retrieve any information. Full end to end encryption of the data blocks being generated, guarantees its confidentiality.
Using encryption keys together with PKI can provide higher level of security. The encryption of data provides data confidentiality and data access control. With these types of controls, even an attacker cannot do a man-in-the-middle attack. This is because, the attacker cannot forge the interlocutor identity or disclose any data a while in transit.
Blockchain Technology and Cyber Security: Integrity
Maintaining data consistency and guaranteeing integrity is another important requirement of the information security. Blockchain features like data encryption, hash comparison, digital signature can be of help in maintaining the data integrity. The immutability feature of the blockchain makes it a secure technology. It enables the users to trust the transactions on the distributed ledger system.
The consensus model of the blockchain is a blockchain cyber security use case. It can present the organizations with a level of assurance over the integrity of data. If, the organization uses a private blockchain.
The non-repudiation feature of the information security can be achieved by the time-stamping and digital signing of the data blocks in the blockchain. This help in confirming that nobody can duplicate the authenticity of his signature on a file or the authorship of any particular transaction.
The use of blockchain thus increases reliability, and also help in fulfilling one of the key properties of the information security system. Any new transaction added to a blockchain will result in a new entry in the distributed ledger system. Since the old entry is also available, a complete log of the changes is made in the blockchain ledger.
Integrity is one of the promising cases of blockchain in cyber security.
Blockchain’s audit capability provides the organization with a level of transparency and security for each transaction. Considering the Cyber-security of the organization, this provides with an extra level of reassurance for data authenticity.
Blockchain also helps in software development such as secure development standards and practices in implementing secure coding and secure testing across the full development life-cycle of creation, testing, deployment and management.
If the input data is accurate, blockchain technology can play a strong role in the confidentiality, integrity, availability, and non-repudiation of the data. But given all the security aspects of the blockchain, data will be transmitted across, hence the organization must ensure the data exchange channels are secure.
Blockchain Cyber Security Issue: Availability
A promising case of blockchain in cyber security use cases is for the availability of information. Information security property is the availability of data which are ensuring timely and reliable access to the use of information. Generally, DDoS (Distributed Denial of Service) attacks make the availability of information vulnerable. DDoS attacks are a perceived threat because the ever-increasing insecure Internet of Things (IoT) devices.
Also, the ever higher requirements of bandwidth speeds for IoT and AI projects can be vulnerable due to DDoS. Cyber-attacks have tried to disrupt the system DDoS attacks.
Blockchain being a distributed architecture, DDoS attacks are practically not possible on any public or private blockchain. Hence. If mobile app or websites are on the blockchain, there are no chances of disruption because of the DDos attack.
Blockchain is not a bullet-proof technology. There have been attacks on this technology. Most notable among them has been the DAO attack and the attack on the bitcoin network in 2016.
Blockchain Cyber Security Companies
This was started in 2015. It protects application program interface (API) keys, apps and other trade secrets using blockchain technology. It helps to stop unintentional dissemination of information from spreading around.
This is an ICO funded company established in 2017. It offers several blockchain-powered tools for Cyber-security. Hacken token (HKN) is a medium of exchange. Their offer anti-phishing services, detection of fraudulent advertisements, penetration testing based on practical, real world threat scenarios, and mobile application security testing.
This gives a decentralized solution for anti-virus needs. It creates a new network layer to fight against destructive intrusions using blockchain technology to strengthen the defense tools. They have also YARA — a malware pattern-matching algorithm. The company was founded in 2017.
This is also ICO funded and started in 2017. It specializes in a controlled denial of service (DDoS) attacks. They have also created a self-healing software that repairs itself if a node goes down, assuring that the Gladius system remains viable even in times of attacks. They have GLA tokens.
Privately funded and established in 2016, Block Armour deals in the enterprise level security by using blockchain technology in cyber security. They use terms like Blockchain-Defined Perimeter (BDP) for making cloud servers invisible to intruders.
This is an ICO funded and 2018 established company from Singapore. This is a blockchain cyber-security companies that bring information about Cyber crime to a single intelligence database platform and creating Cyber-security tools for the internet-using world. This is a white-hat security expert blockchain Cyber-security company.
This is a San Francisco based blockchain in cyber security company. They use hybrid blockchain technology to make files ‘safe to hack’ by using encrypted, decentralized file storage methods in combination with blockchain auditing and monitoring. They are an embedded solution partner with IBM.
This blockchain based cyber security company, started in 2011, provides varied security solutions for global businesses. It offers solutions for secure communications.
This provides blockchain powered Cyber-security solutions to individuals and organizations. They have systems like AnChain Situational Awareness Platform (SAP), Smart Contract Auditing Platform (CAP) and Blockchain Threat Intelligence (BTI).
They plan to make the interconnected devices safer by harnessing the capabilities of artificial intelligence, software-defined cyber security and blockchain technology.
This blockchain cyber security startup is working on enterprise level for data security, privacy, and confidentiality, fragmentation in the payment process.
Conclusion: Blockchain Based Cyber-Security Has Future
Gone are the days when cyber security was a much talked domain in the military, and computer technology domain. With the dissemination of data, cyber security has become mainstreamed topic. Cyber-security is a basic practice for anyone using the internet in his daily life. For businesses, with private data and trade secrets, information security in general and cyber security in specific is a key to the success of the business. Blockchain being a disruptive and nascent technology, a big question is can blockchain fix Cyber-security?
All said and done, blockchain — Cyber-security will go hand in the future. I will not write on the blockchain use cases here. Maybe, we shall discuss of the blockchain Cyber-security use cases in another article.
Blockchain based cyber-security is here to stay.
Let us hope there are more and more blockchain applications in Cyber-security, and blockchain cyber-security issues are sorted out for good of everyone – be it cyber-security industry or blockchain industry.