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Why Blockchain Tech will Revolutionize IoT

Why Blockchain Tech will Revolutionize IoT

Romy Catauta
by Romy Catauta — 3 weeks ago in Blockchain Technology 4 min. read
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Hacking has always been a problem. Whether it’s cracking the code to a vase or the password to an email account, criminals have always exploited security weaknesses for personal profits.

Unfortunately, protecting privacy hasn’t been our strong suit in the digital age. Tech companies push the next line of products and organizations are hesitating to invest in cybersecurity programs for these devices that owners may not even comprehend is a difficult task.

Waning cybersecurity resources

While most software programs provide at least some type of encryption, typically, it’s not the strongest. That is to say, that these software programs are not impenetrable. To effectively and safely utilize technology connected to an important or sensitive network requires education.

As good cybersecurity education is still lacking, IoT is in major need of secure and dynamic security systems that automate much of the updating, upgrading, and intrusion detection.
Also read: Blockchain Technology and Cryptocurrency: What to expect from 2020

The majority of businesses are not prepared for liability

Most businesses are not prepared for a breach. However, this doesn’t stop them from updating technology or layering new technologies on top of legacy systems. As such, organizations need a solution that is easier to implement and maintain.

Spoofing, phishing, and social engineering are all trademarks of any legitimate hacker. However, each of these strategies is easily countered through cybersecurity education and training.

Poor governance meets new complexity

Most companies are host to dozens of employees with little to no knowledge of cybersecurity and the different ways that hackers infiltrate databases and networks. This creates an environment with essentially dozens of moving access points with further access still to more sensitive networks internally. 

Once a hacker is in the intranet of a company then the overall system must either go into lockdown or risk losing valuable data. Luckily, limiting this risk through education is quite simple as many cybersecurity companies offer education courses and much of the critical information is available for free online. 

An educated workforce will undoubtedly defend against hacking attempts saving businesses an incredible amount in liability. However, avoiding critical or aggressive hacking attempts requires an overall security protocol that is typically nonexistent in today’s corporate world. 

Creating cybersecurity protocols should be of paramount importance as the right cybersecurity system could save a business’s life. There are countless cybersecurity tools available to businesses that can trace where the activity is coming from and can detect any access points that are live on your network. Ultimately, cybersecurity and blockchain should be utilized to create an entirely secure system that will protect both businesses and individuals. 
Also read: How Blockchain is Going to Revolutionize the Payments?

Blockchain and security protocols

Security by design is usually lacking in IT governance. Managing the complexity of the Internet of Things is quite a difficult, if not impossible task. These unclear privacy protocols and insufficient cybersecurity tools make IoT an incredible liability for businesses of virtually all sizes.

To circumvent the collapse of IoT systems, especially in a corporate setting, emerging technologies like Blockchain must be integrated into current software products, security and otherwise.

The IoT has created opportunities for enterprises and entrepreneurs around the world by providing internet connectivity through as many channels as possible. Ironically, it is the same function that has provided a wealth of possibilities and targets for hackers. 

This prevailing issue of cybersecurity isn’t new by any stretch. In fact, hacking has been an issue as long as the internet itself has existed with much of the hacking done through social manipulation. However, in recent times, hacking has upgraded quite a deal and is now more complex than ever before with hackers capable of exploiting any vulnerable node on a network. 

Even with this reality, many companies still do not deploy sensible cybersecurity protocols that adequately deal with the issue. Much of the success that hackers enjoy is due to a fundamental lack of cybersecurity knowledge that plagues the personnel of the targeted business.

To sum up Blockchain could positively impact cybersecurity because:

  • It’s the technology behind cryptocurrency that enhances recordkeeping
  • A secure, immutable peer-to-peer network utilizing cryptography
  • Dynamically offloading connections to a serverless lightweight blockchain
  • Could help trap vulnerable parts of databases
  • After-market Blockchain cybersecurity systems could help companies (automating IoT security to some degree)

The IoT has been incredible for the world at large as the access to the internet has exponentially expanded and therefore so has the spread of information.

This culminates in a world in which any enterprising individual can start a business online and find phenomenal success no matter where they are in the world. However, even with all of the incredible benefits, the IoT has also worsened a problem that we collectively never really solved. 

This can be accomplished in any number of ways but defending against these hacking attempts can be made simple by implementing a strict cybersecurity protocol.

However, protecting the database of your company may become much easier through the use of blockchain technologies that could be used to create transparent databases that still retain privacy and security. Blockchain databases are constantly checked for validity to guarantee that the information goes untouched. 

Additionally, these datasets can be utilized in any number of ways to create other technologies or databases. Traditionally, databases are static record blocks that can be dynamically encrypted to deter hackers. 

However, implementing positive cybersecurity protocols requires constant updating and revisions. The blockchain method may solve this database issue by creating an incredibly secure alternative that will keep the business safe and its clients.

Romy Catauta

Romy Catauta works in the marketing field and is passionate about writing on how to hire a mobile app designer, web design, business, interior design, and psychology.

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