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What Are The Benefits Of Blockchain In Cybersecurity? 6 Experts Share Their Insights

  • 5 May 2019
  • Sam Mire

Blockchain isn’t the fastest technology, but it may be the most secure. Fitting for the cyber security industry, wouldn’t you say?

A blockchain-powered security framework would be decentralized, leaving no single point of compromise and a much tougher test for hackers.

Internet users will also benefit from blockchain adoption. Greater verification could affirm that an email is from the intended sender or that a website host is who they claim to be.

The minutiae and architecture of such a framework should be left to the experts. But once they hammer out the details, dot their I’s and cross their T’s, a blockchain-powered framework could seriously disrupt cybersecurity administration.

Here’s what the experts have to say.


1. Paul Brody, Global Innovation Leader at EY

Paul Brody“There are several benefits [to blockchain in cyber security], so picking just one seems hard. I think the biggest benefit will be resiliency — blockchain systems are hard to hack because you need to take down more than half the network to corrupt the core functionality. This makes blockchains slower than centralized systems, but also much more resilient to certain types of attacks.

Tamper-resistant data sets and shared business logic are big benefits as well, but I think early on, the biggest power will be the resistance to attack. If blockchains become important in the defense space, I think this will be one of the driving attractions.”


2. David Campbell, COO of Electric Coin Company

David Campbell“Trust without dependence on centralized entities [is the primary benefit of blockchain in cyber security].”

 

 


3. Steven Sprague, CEO of Rivetz

Steven Prague“The blockchain is the perfect place to share an immutable fact (such as reference signatures, device attestation data, identity roots, for example).”

 


4. Sarbari Gupta, President and CEO of Electrosoft Services Inc.

Sarbari Gupta“The greatest benefit of blockchain for the cyber security community is the possible elimination of trusted third parties (such as PKI Certification Authorities) while making it possible for users within a community to have assurance of specific facts that enable improved security, such as assurance that a public key belongs to a certain user, or assurance that a document was not tampered with while in transit.”


5. Stephen Savage, Professor and Course Lead at Purdue University Global

Steve Savage“The vision is for 100 percent authenticated transactions by guaranteed, authentic entities combined with decentralization of data without the need for centralized control. Blockchain, when fully implemented, will result in a paradigm shift in how we understand and work with information. It is very likely that all systems will eventually be implemented on these types of architectures.”


6. Robert Paul, Director of Research of Development at NuID

Robert Paul“Blockchain technology has an impressive ability to improve both data integrity and availability, compared to traditional file systems. This means that it’s nearly impossible to alter data stored on a blockchain, and that the distributed infrastructure of a blockchain makes it very reliable. These properties are crucial for data like public keys and other public authentication or identity data that needs to be protected from malicious or accidental tampering.”

 

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About Sam Mire

Sam is a Market Research Analyst at Disruptor Daily. He's a trained journalist with experience in the field of disruptive technology. He’s versed in the impact that blockchain technology is having on industries of today, from healthcare to cannabis. He’s written extensively on the individuals and companies shaping the future of tech, working directly with many of them to advance their vision. Sam is known for writing work that brings value to industry professionals and the generally curious – as well as an occasional smile to the face.

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