Research Paper On Blockchain

813 Words4 Pages
For Chief Information Security Officers Blockchain Will Improve Internet of THings (IoT) Security

Because IoT is creating its own ecosystem, the biggest challenge for the industry is how companies secure and manage the exponential growth of decentralized endpoint devices. Unfortunately, most security experts only know how to defend against attacks from a centralized perspective. Most Chief Information Security Officers (CISO) only understand centralized networks and depend on choke points or linear cyber kill chains that focus on traditional perimeter and inbound security protocols to defend against malware, viruses, and other attacks that inevitably overwhelm networks and damage servers, devices, and workstations. One of the potential
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Recent breaches by hackers of digital wallet provider, Parity, and more than five others will not do much to bolster confidence in Blockchain as a viable security solution for banking. However, Blockchain is a solid way to ensure how high-value products, contracts, and other transactions are managed and resolved throughout the chain of custody. Blockchain acts as a secure ledger database that is shared by various parties that participate in a distributed network of endpoints, devices, and assets.

How Blockchain and IoT are deployed in the industry

Within the realm of IoT, Blockchain has huge potential with home automation systems, connected thermostats, autonomous vehicles, etc. Blockchain helps to reduce security threats at the edge, but the long-term value is with interactive appliances such as refrigerators or washing machines that can intuitively restock, order, pay for, and have items shipped without user interaction. Industries like Aviation, Financial Services, Healthcare, Supply Chain and the Public Sector have all begun transforming to support Blockchain. For example, aviation and manufacturing are using Blockchain to track, move, and track replacement parts across multiple companies and suppliers. The Financial Services industry is leveraging Blockchain to ensure transactional integrity, faster

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