The cyber attacks are increasing very quickly and hence the threat to Cyber Security. In this article we have discussed about Blockchain Technology – whether it can be used to secure the cyber world or not?
According to reports by various agencies, the recent cyber attack of ransomware knows as ‘WannaCry’ has affected over 200,000 computers in over 150 countries. The ransomware was supposedly spread through spam emails of fake invoices, job offers, etc. which had .zip file attachments. Once the attachment is clicked, it initiates the infections of WannaCry. However, one of the CISCO’s division believes that vulnerable systems which were left open on the internet could be attacked without any need for phishing.
Blockchain is a decentralized ledger that constitutes the underlying technology of cryptocurrencies like Bitcoin. While Blockchain is best known for powering bitcoin, it has been identified as disruptive technology platform relevant for various industries and businesses to keep data secure in a distributed, encrypted ledger and control access to that ledger.