How Bitcoin And Blockchain Will Impact The Cybersecurity Industry

From global power outages to international hacking schemes to run-of-the-mill data breaches, protecting sensitive data has never been more important than it is today.  In order for companies to keep their data secure, their cybersecurity teams must stay ahead of the newest technologies being used by both consumers and hackers.

One of the most rapidly-growing niches that cybersecurity professionals must understand is bitcoin and blockchain, which is currently disrupting the financial industry. Tech experts should understand the technology behind bitcoin and blockchain and understand how it will impact other areas of information security.

How Blockchains Work

Traditional cash-based financial transactions must flow through a bank or financial institution that acts as a middleman. Blockchain bypasses the middleman to keep transactions secure through complex cryptography.  A blockchain is a network of secure databases through which a bitcoin cryptocurrency transaction must pass. Each step is known as a “block.” When a transaction is initiated, every computer in the network must validate it. The money then flows through the system, and secure recordings of the transaction are made at every stop on the chain.

Blockchain is so promising because it sets a record of the transaction in stone while providing exceptional security because transactions cannot be made unless validated and authorized by the entire chain. Blockchain also decentralizes the transaction network, which reduces the risk of a systemwide failure.

Blockchain Applications Beyond Finance

The technology behind bitcoin’s blockchain system has caught the attention of many industries outside of finance. Startups that are capitalizing on the tech have raked in over $1 billion in funding for applications like secure and unhackable messaging systems for national security and defense.

One niche that can truly gain from bitcoin and blockchain’s underlying technology that provides a chain of data history is the cybersecurity field. Blockchains can be used for endless applications from securing the nation’s power grid to detecting unauthorized changes in software configurations.

Blockchains are currently being hyped in the financial sector, but the technology is perfectly aligned for security.  Cybersecurity teams need authentic data logs, records and transaction history in order to keep systems safe and detect vulnerabilities and breaches. Being able to hide even the smallest amount of data can lead to a significant breach, and blockchains eliminate that ability.

The future of blockchains for cyber security is limitless, but it will require a significant investment of resources and a commitment to innovation in order to build sustainable systems. If your business is looking for forward-thinking cybersecurity professionals who can leverage new technology for your benefit, the award-winning team at Talon can help. Contact us today to learn more about the ways we can help you achieve your data security staffing goals.