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WHAT IS THE ROLE OF BLOCKCHAIN IN CYBERSECURITY?

 

Entrepreneurs, policymakers and investors are increasingly adopting Blockchain technology to transform the way businesses communicate with other companies, regulators and customers. As an increasing number of companies rush towards implementing Blockchain technology, its ecosystem becomes more diverse and dynamic.

Blockchain is a powerful innovation that brings positive changes to various industries, including finance, supply chain, food, insurance and many more. Blockchain’s capabilities to provide a decentralized ecosystem, transparency and immutability are implemented to ensure cybersecurity.

Cybersecurity refers to protecting interconnected systems such as hardware, software and data from information disclosure, thefts, disruption of services or any other cyberthreat. The cybersecurity market is forecasted to grow from 152.71 billion USD in 2018 to 248.6 billion USD by 2023 at a CAGR of 10.2%. Cyber-attacks have grown to become even more sophisticated, due to which demands for cybersecurity are increasingly growing. Emerging technologies like Blockchain, Machine Learning and AI provide effective solutions for addressing critical threats with faster detection, mitigation and response capabilities.

Read more: https://www.leewayhertz.com/blockchain-and-cybersecurity/

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