We are constantly reminded of the threats posed by malicious outside agencies to our private and corporate data. Cyber security attacks occur daily, and those developing the technology to carry out attacks are sometimes able to evolve quicker than the average organisation’s security features. In fact, despite increased awareness of issues of cybersecurity, last year broke all records for the number of data security breaches taking place. Blockchain is one of the newest features in the never ending battle against cyber attacks. So how exactly does blockchain and cybersecurity work, and how can it help your IT infrastructure?
As long as organisations are able to keep up-to-date with the newest cybersecurity technology, data should be able to be kept out of harm’s reach with relative ease. A new security feature which is gaining prominence is known as Blockchain technology, providing an alternative way of storing and sharing information. Its key features allow it to block identity theft, prevent data tampering, and stop Distributed Denial-of-Service Attacks.
How it works
Blockchain’s high-level security features are based on its ability to record transactions between two parties in an efficient, trustworthy and permanent way. As a result, all transactions can be verified and pinpointed, all links are clearly transparent, and any additions are recorded and easily tracked. Once information has been entered, it cannot be changed, only added to. The secret to Blockchain’s infallibility is known as ‘hashing,’ a type of data encryption. Records are joined together in ‘blocks’ which are inextricably linked into ‘chains.’
Another definitive feature of blockchain is that recorded data is not stored centrally, in one, essentially vulnerable location, but is spread out across thousands of computers. The data held within the blockchain can then be accessed by anyone in the network. All accessible data is then in its most up-to-date state.
Although in its current form blockchain is essentially an open-source ledger, industries are already looking to develop ways in which it can be used for proprietorial purposes. The technology is impressing a number of industries who are under constant pressure to improve their cybersecurity measures in line with ever-increasing threats and ever-tightening regulations. The British government is also being encouraged to adopt the technology.
Blockchain And Cybersecurity – How It Can Help Your Legal Chambers
From the perspective of a legal chambers, Blockchain cybersecurity features could prove vital in the near future. The reason for this is that it is practically impossible for data to be manipulated without someone knowing about it. Any changes or additions to data held in the blockchain are immediately tracked and can be carefully audited. This is a particularly useful feature when considering not only data security, but also when the new laws relating to General Data Protection Regulation are introduced in May 2018.
In addition, as the blockchain ledger is spread out among thousands of computers around the world, it is nigh-on impossible for hackers to access it. To be successful, hackers would need to have access to every computer on which the blockchain was stored.
Blockchain is the next step in the future of cybersecurity technology. Although its future is yet to be ascertained, there is little doubt it will become an exceptionally useful tool across a number of industries.
For more information on how Blockchain could help inform the future of your legal chamber’s cybersecurity, along with the other data security services we offer, contact CBSIT today.