Blockchain Security

C O N T E N T S:


  • Blockchain made headlines recently as the transaction infrastructure for bitcoin and other cryptocurrencies, but this shared ledger solution is now being reimagined as a way to bridge the enterprise security gap.(More…)
  • IBM offers the highest level of blockchain security available, IBM Z. Protect against malware and insider attacks while seamlessly integrating your blockchain solution with data and systems already on the mainframe.(More…)


  • The Deloitte report noted that “blockchain technology does not guarantee or improve data quality.”(More…)
  • With a public blockchain, for example, if you establish a shared ledger between businesses, you could use permissioned Blockchain data, where the data would still be protected from prying eyes by a private key (encryption).(More…)
  • TopiaCoin’s SDFS network uses patented technology that shreds and encrypts data that is associated with the blockchain.(More…)
  • Just like a business will choose which of its systems are better hosted on a more safe confidential intranet or on the internet, but will probably use both, systems which needs a fast transactions, the option of transaction turnaround, and middle control over transaction confirmation will be better suited for private blockchains, while those that gain from extensive participation, lucidity, and third-party confirmation will thrive on a public blockchain.(More…)


Blockchain Security
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Blockchain made headlines recently as the transaction infrastructure for bitcoin and other cryptocurrencies, but this shared ledger solution is now being reimagined as a way to bridge the enterprise security gap. [1] When it comes to enterprise security applications, blockchain holds significant promise but remains developmentally adolescent. [1] As cryptocurrency markets have cooled and (somewhat) stabilized, however, interest in blockchain as a security technology has swelled. [1] The potential use cases for security are definitely worth looking into, even if blockchain isn?t always the answer. [2] There’s still more work to do before blockchain can effectively bridge the gap from potential benefit to security baseline. [1] The problem is that the unbroken nature of blockchain is its biggest strength — fragmenting chains reduces total security efficacy. [1] Alone, however, blockchain is not the missing link to cloud security. [1] It’s still a relatively new technology, so we don?t have all the answers yet, but blockchain clearly has the potential to have a big impact on the data security world. [2] Let’s take a closer look at four ways blockchain could have a positive impact on data security. [2] The Wall Street Journal reported that while blockchain excels at data security and trust, it may struggle with privacy. [1]

Limiting access to the right data may limit the outcomes that can be achieved with the use of AI. In the case of blockchain, the security and privacy of data join transaction scalability as key technical considerations. [3] Data on a blockchain run by a banking consortium, could be both permissioned (encrypted), and the encrypted data can be further subject to the security standards imposed on traditional financial transactions. [4]

Digging deeper into blockchain, the technologies behind them and enterprise use of blockchain, apart from the technical difficulties of deploying the technology, it is becoming clear that security concerns are slowing the development of blockchain down, particularly considering the new compliance regulations that have come into play with GDPR. [4] While some in the industry have proposed using blockchain to enhance IoT security, a panel of experts at the LiveWorx 2018 conference disagreed that the distributed ledger technology would radically transform the way IoT devices operate. [5] The mission to engineer a new security architecture is what led Altr to blockchain, and not the other way around. [6] The best way to do this is to hire a security expert when implementing your blockchain. [7] The public blockchains are the ones that are creating enterprise security concerns. [4] Private or hybrid Blockchains, while controversial, typically combine the strengths of Blockchain with traditional security measures, such as background checks, ISO security standards, and non-disclosure agreements for the participants, according to Werner Krebs, found of Los Angeles-based Acculation. [4] Intel technologies provide unique capabilities that can help improve the privacy, security and scalability for data-centric workloads like AI and blockchain. [3] At Cyber Week, we are focused on security for these two data-centric workloads: AI and blockchain. [3] Security is pivotal to our company’s strategy and a fundamental underpinning for all workloads, especially those that are as data-centric as AI and blockchain. [3] These built-in security measures are what make blockchain a powerful solution beyond cryptocurrency. [8] This is technologically infeasible due to the intrinsic security within each blockchain node. [8] Enter blockchain, which some have argued will help IoT devices communicate with each other and improve their security. [5] Anyone advertising blockchain as a security feature in an IoT device should at this point be met with skepticism, Lord said. [5]

Because blockchain had to be built to be impenetrable, and it can conceptually store any type of data, its applications in data security are profound. [8] Blockchain offered the answer to a list of requirements necessary for a restructured foundation for data security. [8] Blockchain could help improve data security by reducing the chance of sensitive data being deleted or changed. [9] Many modifications had to be made and continue to be made in order to make blockchain uniquely suited to providing data security and immutability at scale. [8]

“It is perfectly natural for people and businesses to be weary of certain aspects of blockchain technology — and transparency and security are two very rational concerns. [4] It is time to dive in common security issues that blockchain technology comes along with. [10]

There are 72 companies listed in total, covering five Tech layers (Identity management, Fabrics & DL platforms, Security, Payments, Smart contracts), four Services categories (Blockchain as a service, Consulting and professional services, Consortiums/industry groups, Compliance), four Industry applications (Natural resources, Financial transactions, Government & health, Supply chain & trade finance), plus Regulators & agencies and Data provenance & notary. [11] Compared to traditional business processes, blockchain can deliver time and cost savings, along with better security — especially in a permissioned network. [11] Though blockchain had been the province of – and often is mentioned in the same breath as – bitcoin and crypto brethren, the stage is set for blockchain to be used in security software. [12] If a blockchain user’s private key — their self-generated and maintained identity and security credential — is compromised, then their blockchain account can be tampered with. [11] Check out our exclusive conversation with Zully about IoT, blockchain and the state of the information security industry. [13] As you know if you’ve been reading your Security Ledger, blockchain is often talked about as a kind of magic elixir that soothes the Internet of Things’ many security pains. [13] Much of the security focus on blockchain relates to the integrity of the ledger and the tech supporting it. [14] This week Intel is addressing scalability, security, and privacy of blockchain with updates in what it calls “Off-Chain Computing” along with partnerships with Enigma and SAP. [15] Larimer goes on to say, “TopiaCoin will be the first to market with military-grade security and this will bring great value to the blockchain and BitShares community.” [16] As far as security is concerned, the advice is to grow blockchain expertise in developer and security teams, and focus on integration options and regulatory compliance. [11] Transport Security World reported in March of a blockchain initiative by the shipping industry that would presumably be interested in the VTT and Streamr ( @streamrinc ) ID tags. [17] “The same problems that plague us with every security issue are present in blockchain as well.” [14] Although many blockchain based solutions offer decentralization and encryption as a basis for data security, only Topia offers a data security layer that secures specific data transactions between two persons. [16] The field is wide open, said Sikora, noting that “it feels like circa 1995 or 1996 as it relates to the internet,” with explosive growth ahead for blockchain used in enterprise data security. [12] Intel vice president Rick Echevarria discusses the challenges of balancing data security with new technologies like blockchain and artificial intelligence. [15] TopiaCoin began making noise earlier this year when it unveiled development of a military-grade security layer for blockchains, pioneering total data security amidst a wave of data scandals hitting major companies — from Facebook to Equifax. [16] Let’s take a quick look at what TopiaCoin is doing to pioneer data security for blockchains, and what the SAFT agreement means for investors. [16]

Security is widely regarded as a major advantage of blockchain, but there are still significant risks inherent in the technology (as currently implemented), according to the authors of a recent paper entitled A Survey on the Security of Blockchain Systems. [11] This, combined with blockchain’s myriad security complications, has created a rapidly growing technology that’s misunderstood from a security perspective. [14] The success of blockchain technology in securing cryptocurrencies doesn’t make the technology a good fit for securing the Internet of Things, RSA Security Chief Technology Officer Zulfikar Ramzan says. [13] The security of valuable cargo could be given an extra layer of security thanks to the development of a prototype ID tag based on blockchain technology, safeguarding the location of the goods that are known only to their owners and the transport company moving them. [17]

The use of Trustonic’s APIs means that developers using the Rivetz platform will automatically have access to the decentralized cyber security protections and controls required when developing blockchain, IoT and cloud applications for high-risk markets such as financial services, legal and healthcare. [18] I would also say that combining IoT with Blockchain can do wonders in terms of Increased Security. [19] Blockchain will enable transformational use cases that unlock tremendous market potential and value, so robust security and trust is essential. [18] This type of security issue affects not only EOS but also other types of blockchain platforms and virtual currency applications.” [20] As opposed to using public blockchain technology as cryptocurrency technology typically does, Sikora said that ALTR can break up information — whether it’s a group of social security numbers or a company’s entire data set– and store it in private blockhain nodes. [21] To know about the inherent security risks in blockchain technology, it is vital to know the difference between public and private blockchains. [22]

With each day going by, it is becoming clear that blockchain technology can play a huge role in achieving increased security, reliability and trust in IoT networks. [19] Contributed David Sikora is CEO of ALTR, a new Austin firm focused on using blockchain technology to provide enterprise-grade security. [21] ALTR, which is focused on using the underlying blockchain technology that caught fire with cryptocurrencies for enterprise-grade security, is being led by CEO David Sikora, former executive chairman and CEO at Stratfor. [21]

IBM offers the highest level of blockchain security available, IBM Z. Protect against malware and insider attacks while seamlessly integrating your blockchain solution with data and systems already on the mainframe. [23] Public, permissionless blockchains are dependent for their security and reliability on their economic incentives and mechanism design. [24] Automakers are accelerating towards a future of autonomous vehicles, learn how blockchain will add the levels of trust and security necessary for a self-driving future. [25] Cisco is building a comprehensive foundation for enterprise blockchain technology that brings together our strengths in network automation, distributed systems architecture as well as capabilities around security, identity, and cryptography. [25] Abstract: Blockchain technology has become almost as famous for incidents involving security breaches as for its innovative potential. [26] SEC Chairman Jay Clayton said cryptocurrencies, which acted as replacements for sovereign currencies, were not a security, however he believed blockchain technology was still promising. [27]


The Deloitte report noted that “blockchain technology does not guarantee or improve data quality.” [1] New transactions fundamentally alter the state of the blockchain ledger : Previous iterations are stored, providing companies with a complete history log that both limits the chance of data tampering and ensures all IT actions are auditable as required by emerging compliance regulations. [1] This potentially allows you to use the blockchain ledger to verify that data you backed up and stored in the cloud with third-party vendors has gone completely unchanged even weeks, months, or years later. [2] While hackers can break into traditional networks and find all the data in a single repository and exfiltrate it or corrupt it, the blockchain makes this unfeasibly hard. [2] Instead of uploading data to a cloud server or storing it in a single location, blockchain breaks everything into small chunks and distributes them across the entire network of computers. [2] No matter the outlook, it’s clear that blockchain is undergoing a shift as enterprises look for ways to shore up cybersecurity in a market dominated by distributed cloud networks, limited visibility and huge potential consequences. [1] It’s easy to lose sight of the potential benefits and weaknesses of any new technology when the hype reaches fever pitch in the way that it has with blockchain. [2] What’s the potential for blockchain? Demand for blockchain talent recently skyrocketed as companies look for engineers with the skills to develop new applications and services that leverage this technology, according to TechCrunch. [1] There are limited enterprise use cases for this technology, since very few apps use (or benefit from) the addition of blockchain. [1] Since all transactions added to public and private blockchains are signed and time-stamped, enterprises can quickly track down specific events or users of interest. [1] While public blockchains have grabbed the early headlines and plaudits for enabling anonymity, you can create private blockchains that restrict access to specific users. [2] You still get the benefits of a decentralized peer-to-peer network, but anyone accessing a private blockchain must authenticate their identity to gain access privileges and it can be restricted to specific transactions. [2]

“While still nascent, there is promising innovation in blockchain towards helping enterprises tackle immutable cyber-risk challenges, such as digital identities and maintaining data integrity,” Ed Powers, cyber risk lead at Deloitte U.S., noted in a 2017 report. [1] While traceability is an inherent property of blockchain, data quality is not. [1] The nature of blockchain, however, prohibits this kind of data grab and removal, meaning multiple blockchains might be required to comply with GDPR legislation. [1] Everything that occurs on the blockchain is encrypted and it’s possible to prove that data has not been altered. [2] Nobody can deny that blockchain offers reliable, independent data verification. [2]

Nothing is truly impossible to hack, but blockchain looks like a technology that has come closest to Holy Grail status so far. [2] Heralded as a major disruptor for countless industries, there’s no doubt that blockchain offers some important potential advantages for the business world. [2] While this is all exciting, it’s crucial to remember the potential problems and limitations of blockchain. [2]

Some companies are leveraging blockchain itself to create new cybersecurity marketplaces where motivated white- and black-hat hackers can design antimalware tools for profit. [1] TechCrunch also reported on a 700 percent increase in companies looking for blockchain engineering talent since January 2017. [1]

Despite enterprise advancement in the area of blockchain, however, there’s still room for improvement. [1] To successfully hack blockchain, you would have to hack most of the nodes simultaneously, which, though technically possible with enough supercomputing power and time, is well beyond the ability of cybercriminals today. [2] More traditional use cases for blockchain leverage its inherent audit capabilities. [1]

Blockchain was also a high-profile topic at the 2018 RSA Conference in April: While some attendees argued for blockchain technology as the solution to General Data Protection Regulation (GDPR) compliance, others worried about issues like viability at scale, data integrity and provenance. [1] 60 percent of companies have already implemented (or plan to implement) blockchain technology — with 28 percent actively testing solutions and 20 percent in the discovery and evaluation phase. [1]

The use of blockchain technology as a cryptocurrency record-keeper makes sense. [1]

It’s an ideal combination of user privacy and security oversight: While the identity of digital wallet holders is obfuscated, transaction records are a matter of public record. [1] Think of it as a way to bridge the growing cybersecurity skills gap: These hubs enable security professionals to develop antimalware tools or connect with businesses in need of security expertise. [1]

Michelle Drolet is founder of Towerwall, a data security services provider in Framingham, MA, with clients such as Smith & Wesson, Middlesex Savings Bank, WGBH, Covenant Healthcare and many mid-size organizations. [2]

Enterprises are understandably interested in blockchain’s inherent benefits, such as shared ledgers and natural auditability. [1] It has enormous potential to reduce costs, particularly for financial institutions, which is why Gartner suggests that blockchain’s business value-add will grow to $176 billion by 2025. [2]

With a public blockchain, for example, if you establish a shared ledger between businesses, you could use permissioned Blockchain data, where the data would still be protected from prying eyes by a private key (encryption). [4] A hybrid blockchain might periodically place a cryptographic hash of the private Blockchain on the public Blockchain, adding the tamper-resistant features of the public blockchain to the private blockchain data without exposing either the private data or much in the way of transaction volume. [4] Increasingly, as the debate about blockchain and its uses unfolds, in much the same way the debate about using cloud services unfolded in the early days of cloud, enterprises are looking at two alternatives to public blockchain: private blockchain, and hybrid blockchain. [4] Cal Cook the consumer finance investigator at Syracuse, New York-based said that what is more likely to happen is that companies will publish certain timestamped data on a public blockchain that verifies the sensitive information that’s encrypted on a private server. [4] Bitcoin’s blockchain is very specific to its purpose, and would need to be more flexible, more private, and faster in order to be used by organizations focused on securing data. [8] Existing regulations can sometimes be used, as a private banking consortium running a private blockchain on behalf of its customers has decades or centuries of private sector experience with bank data behind it. [4] Opportunities exist to use blockchain to record all types of data activity, creating an unhackable record of what and how everything is being used, and by whom. [8] The final major issue is that the Bitcoin blockchain would never work for an organization that needs to not only protect its data but also use it. [8] Asked how the company uses blockchain, Sikora said in an email, “Blockchain provides highly secure storage for data itself. [6] Blockchains are used to share precious data over a secure medium. [28]

It is designed to eliminate threats to data through core approaches in private blockchain, in-line data techniques, real-time alerts, and reporting for business enablement. [6] We are in a position to accelerate customer success by helping protect algorithms and data for AI applications as well as digital assets and smart contract execution for blockchain solutions. [3] Total Defense has the solutions to help you protect your data as blockchain becomes more prominent. [9] Not only can the blockchain not be publicly readable but copying all sensitive data in its entirety to every storage node on the network magnifies the threat of breach by the number of nodes. [8] All anomalies and incident responses could be logged to a blockchain, creating a very detailed and court-admissible record of any attempt to impact data or network resources. [8] In a bitcoin blockchain, the data that is shared contains information about all the bitcoins that have been mined. [28] While no technology is as security-hardened as blockchain, its original application to cryptocurrencies does not require the flexibility, privacy, and performance needed to secure critical corporate information. [6] The patent application dubbed “Method And System For Payment Card Verification Via Blockchain” describes a public blockchain-assisted conveyance and retrieval of payment processes to verify and secure users’ information. [29] Private blockchains restricted to users vetted before they can join are typically safer than ones open to the public, as there will be less likelihood of sensitive information being exposed. [9] According to the patent document, the encryption process encodes the cards information and stores it on the blockchain, after which two keys are issued, a public and a private key. [29] There are two different types of blockchains, one is public like bitcoin and the other one is private. [4] No data-security technology is as battle-tested as blockchain, since it protects one of largest public vaults of economic value in human history: Bitcoin. [8] Of course, that technology is blockchain, the decentralized digital ledger that makes Bitcoin and other cryptocurrencies possible. [8] Bitcoin and other cryptocurrencies use blockchain for transaction records. [8] He said that while it is true that transactions on the blockchain exist in a public ledger and are visible to anyone, the parties involved in any transaction are anonymous using pseudonyms, or wallet addresses. [4] IoT manufacturers also want to bring scale to their devices, said Rob Black, founder and managing principal of Fractional CISO. “When you think about blockchain, it’s anything but scale–you’re bringing along a huge ledger of transactions,” Black said. [5] Consumers should tread lightly for now in regard to blockchains and be sure to take practical steps to secure any blockchain-tied assets they own, as well as the devices they use to access and/or store them. [9] Use and access to private blockchains are usually by invite only. [4] Permissioned blockchains, which use governance protocols to cover a variety of business relationships, can be used in an enterprise consortium implementation of the blockchain. [4] There is another blockchain characteristic that will protect enterprises, even if they use public blockchain, according to Chris Newsom founder of [4] Assuming then, that an enterprise is not happy with this “middle man” approach, it is likely that for the near future they will stick with public blockchains. [4] Blockchains available to the public will contain only information that the public should have access to. [4] This makes the blockchain invulnerable to hacks because a successful hacker would need to gain access to at least 51 percent of the nodes and simultaneously make the same change to all of them in order to convince the blockchain network the hacked version of the truth is correct. [8] Access to a blockchain is distributed among the nodes (i.e., participants) on its network. [9] The entire blockchain is replicated across multiple nodes in a storage network. [8]

As a new design-pattern for securing data, blockchain arrives at a time when the state of cybersecurity is direr than ever. [8] A bigger problem is that data in a cryptocurrency blockchain must be publicly consumable. [8] The security-focused blockchain could actually de-centralize the data itself by breaking it into pieces and storing it across multiple blocks in the blockchain. [8] Another option, he said, is publishing encrypted data on the blockchain. [4]

Cairns explained that firms cannot just “replace existing technology with blockchain because may not create a better user experience.” [29] What is blockchain, exactly? Despite the hype and the recent digital currency boom, the technology itself is pretty abstract, even compared to other in vogue technical concepts such as cloud computing. [9] Blockchain enthusiasts and evangelists, he said, are particularly excited about the decentralization that the technology will bring. [4] Unlike the traditional technology that blockchains may replace, blockchains are transparent and cannot be controlled and manipulated by centralized authorities that own them. [4]

The important point is that any business that elects to use a blockchain (or blockchains) will decide exactly what information it should contain. [4] For any sensitive information, private blockchains can be used. [4] A security-focused blockchain could gain significant performance enhancements by becoming private and permissioned. [8] Private and hybrid blockchains, however, are controversial because they reintroduce a trusted authority or middleman into the picture. [4] Emerging Blockchain standards may make private and hybrid blockchains interoperable, so if one private blockchain operator tries to charge exorbitant fees the participants may be able to move the private blockchain to another operator. [4]

Given the ability to create systems that establish the unassailable truth digitally using blockchain, we could supplant systems that use analog methods today. [8] She stated that the company decided to apply blockchain integration “at scale” while noting the need to identify “real use cases.” [29] Tim Li, head of platform at Theta Labs added that not all blockchains need to be exclusively public and entirely transparent. [4] These blockchains offer the same benefits as public blockchains but can only be accessed by the people given rights to do so. [4] If it is true that non-permissioned blockchains are entirely public and addresses contained in that blockchain are pseudonymous, only those addresses you choose to publish may be easily linked to identities, Ofir Beigel CEO and founder at Sarasota, Fla. -based 99 Coins, said. [4]

There are ways to destabilize a blockchain and a hacker can control a node’s transactions by tricking it. [28] “Most of the techniques that underpin blockchain have been around for quite a while, and are already incorporated into a lot of the stuff we build in distributed systems,” such as a verifiable transaction log and a distributed census. [5] Finality measures how long one has to wait to be given a reasonable guarantee the transaction written in blockchain is irreversible. [10]

Maybe the best way to understand blockchain is as an innovative approach to a ledger. [9] By implementing a blockchain, the company aims to enable a secure way of conveying payment credentials that also involves “minimal participation by the consumer.” [29] After rigid testing practices in pilot cases and by governments and companies, blockchains have proved to be tremendously secure. [28]

The miners will flood other blockchains and may be tempted to use the relatively chaotic environment to attempt 51% attacks. [7] With blockchains, this risk is called the 51% attack, most commonly as double spending attacks. [7]

One way that blockchain could be useful is in distributing a policy change across different devices. [5] I like to say it is that mission led us to blockchain and not the other way around. [8] With novel foundational technologies like blockchain it can be restored. [8]

Currently, blockchain use cases for the enterprise are still relatively rudimentary. [4] It’s important to note that the pre-conditions for blockchain use cases to function at scale are just now coming into focus. [8]

When determining whether or not to work with blockchain, IoT developers must ask themselves one of the most basic computer science questions, Corman said: “Can I already do this with a distributed database?” Often, the answer is yes, he added. [5] “I don’t think blockchain is transformative for IoT,” Lord said. [5] “Compatibility with blockchain and IoT in today’s environment is almost nonexistent.” [5]

It might however drastically affect the price, as many miners will leave the network and transfer to smaller blockchains. [7] Cointelegraph covers Fintech, Blockchain and Bitcoin bringing you the latest news and analyses on the future of money. [29] Blockchain continues to show promise in transforming business processes. [3] Blockchains let us agree on the order of a set of records without trusting a central authority. [4] In simple terms, a blockchain is an ever expanding list of blocks or records which are connected and secured with cryptographic methods. [28]

“Most of what we talk about with blockchain is a better set of patterns for dealing with decentralized or distributed problems. [5] It is called blockchain because information is stored in blocks. [4] The only information visible on blockchains is that which businesses put there themselves. [4] The decentralized nature of blockchains means that they are visible and accessible in their entirety to any node (computer) that elects to participate in them. [4] Hash verification is easily done by the nodes and the blockchain is updated. [28] When a new entry (block) is attempted on a blockchain, nodes must reach consensus before it clears. [9]

Some of the most prominent proposed applications for blockchain such as those in supply chain management hinge on the prospect of increase trust between parties. [9] At Cyber Week, we are introducing innovations in what we call “off-chain computing” to help address both privacy and throughput for blockchain implementations. [3] This approach maintains the transparency benefits of blockchain with the privacy benefits of a centralized server. [4]

To attack the premise that blockchains may leave businesses vulnerable to their competition, he points to characteristics that protects them. [4]

The Austin, Texas-based company built its platform on Altrchain, currently the only high-performance, enterprise-grade blockchain technology for ultra-secure data access and storage. [6] VentureBeat meta name”description” content”After four years in stealth, Altr announced today that it has raised $15 million to build software that uses blockchain technology to provide cybersecurity [6]

Altr believes the expanding attack environment represents a mixture of temptations and economic incentives that reward bad actors who are always one step ahead of security providers, trapping providers in a losing cycle of software patches, new applications, and overwhelming complexity. [6] All of them are involved with cybersecurity in different ways, some are mining pool operators, others are solving security issues using their applications. [7]

The Advanced Platform Telemetry capability in our Intel Threat Detection Technology is a step toward improving the outcomes of AI for security. [3] There is security for AI, where we focus on protecting data, algorithms and parameters. [3] Second is AI for security, where we use AI for the detection of advanced exploits. [3] In security for AI, a couple of usages start integrating security to improve the outcomes that AI solutions can deliver. [3] Technologies like Intel Software Guard Extensions (Intel SGX) enable the ecosystem to design solutions with improved security and privacy. [3] The future of a trusted and secure computing environment hinges on our collective ability to deliver solutions that improve the performance across a variety of workloads, while also optimizing security. [3] “Thus, there is a need for a technological solution to enable the conveyance of payment credentials to a point of sale device that requires minimal participation by the consumer, while still maintaining a high level of security, particularly against skimming.” [29] By 2020, more than 25% of cyberattacks on enterprises will involve Internet of Things (IoT) devices, though IoT will account for less than 10% of IT security budgets, according to Gartner. [5] IoT devices’ diversity and lifespan make them strong targets for attack, according to Chris Lord, CTO and co-founder of security firm Armored Things. [5]

Digital trust today has been damaged, both between the different groups of stakeholders tasked with security and between those people and the technology they depend on to run their businesses or accomplish their missions. [8] Intel processor technologies offer capabilities to help improve the security, scalability and privacy of distributed ledger networks. [3] Rick Echevarria is vice president in the Software and Services Group and general manager of the Platforms Security Division at Intel Corporation. [3]

Information is pulled directly from the driver level and immutably stored using Altrchain, revealing key operational insights that inform corporate strategy, as well as security strategy. [6] At Cyber Week, we are highlighting several collaborations to add security to AI implementations. [3] Intel is committed to providing silicon-based security solutions that address the most pressing issues. [3] Before coming to an answer to this question, we need to understand the implications of security, what is necessary, how we can measure safety, and explore the pros and cons of both algorithms. [7] This security, however, is not a given for most other PoW cryptocurrencies, as they have significant lower costs for an attack. [7] The general talk is about wallets, people, smart contracts, mining, mobile, and security in general, and they inspired us to write about the topic and explore these algorithms. [7]

The Altr platform is a data security solution that lets organizations monitor, access, and store critical information. [6] The Altr platform puts technical and non-technical staff the CEO, the CISO, the CCO, and IT professionals on the same page to foster meaningful collaboration on data security. [6] Leveraging Altrchain as a foundation, the Altr platform applies blockchain’s virtually inviolable structure to data security. [6]

Blockchain technology is indeed sturdy, private and secure. [28] By making the choice to explore blockchain technology, take small steps in adopting it, and continue to learn every step of the way, businesses can assuage any worries they may have while setting themselves up for a very bright future,” Fournier said. [4] If you are planning to adopt blockchain technology as an entrepreneur, a developer for your business. [10]

Financial services provider Mastercard has filed a patent for a blockchain system to provide faster and more secure payments on their cards, according to U.S. Patent and Trademark Office USPTO patent filing released June 7. [29] Their price surges fueled speculation about blockchain’s potential broader effects on every domain from logistics to medical devices. [9]

TopiaCoin’s SDFS network uses patented technology that shreds and encrypts data that is associated with the blockchain. [16] As organizations use new technologies like artificial intelligence and blockchain to process and store data, they have a responsibility to ensure data is protected. [15] Janine Terrano is now bringing her expertise, along with other notable industry leaders (including Stan Larimer, founder of the BitShares and EOS blockchains) to build the TopiaCoin network and Secure Data File Sharing (SDFS). [16] Frank Abagnale, the once-notorious confidence trickster portrayed by Leonardo DiCaprio in the film Catch Me If You Can, said blockchain is the future of secure information processing and data settlement. [30] The aspect of blockchain that makes it so secure, and impregnable to hacks, is that once data is recoded it can?t be forged or altered retroactively. [17] Private blockchain as an extraordinarily tough line of defense against the bad guys who want to breach a firm and take its data. [12] We can take that data ? and scatter it” to private blockchains, said Sikora. [12] The key question is whether a trusted third party is available or required: if not, the remaining paths lead to the potential use of a blockchain — be it public, community or private. [11] From the public implementation of blockchains, primarily for cryptocurrencies, the evolution is towards the private implementation of blockchain within enterprises, embedded into applications. [31] We believe that the public blockchain will be the area of innovation, and the way that will come about is with startups, and upstarts like Ethereum leading with innovative distributed applications (dApps).” [11] At heart, a blockchain is a special kind of database in which ‘blocks’ of sequential and immutable data pertaining to virtual or physical assets are linked via cryptographic hashes and distributed as an ever-growing ‘chain’ among multiple peer-to-peer ‘nodes’. [11] The combination of IoT (Internet of Things), big data, easily accessible and on-demand computing power in the cloud, coupled with blockchain and “smart apps” will lead to many technological advancements in the next few years. [31] Sikora laid out three conditions necessary for blockchain to scale: really big pipes because firms have to transport lots of data, cheap storage because blockchain is all about replication and, as Sikora said, “you need really strong processing capacity for consensus algorithms.” [12] A blockchain is therefore a cryptographically secure distributed ledger in which each node has a verified, up-to-date and immutable history of all transactions that have ever taken place among participants that do not necessarily need to trust one another. [11] As a distributed ledger, blockchain can be used to record any transaction, and keep track of any asset and associated payments. [11] Blockchain is often defined as “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.” [30] “There are a multitude of potential new use cases for blockchain, as transactions and records are the lifeblood of just about every organization. [11] The report notes that most executives are focusing on blockchain to improve current business processes and records management, but stresses that there is also significant potential in digital assets and decentralisation. [11] Without getting into the technology part of blockchain, this talk beautifully sets the perspective of blockchain and its potential future influence. [31] I asked Zully about this and he said that the potential of blockchain shouldn’t obscure the reality of the technology and its limitations. [13] The underlying technology used by Bitcoin was the first version of blockchain. [31] That included this conversation I had with RSA Chief Technology Officer Dr. Zulfikar Ramzan about the state of the industry and – of course, of course – the hype surrounding blockchain, the distributed ledger technology that girds Bitcoin and other crypto currencies. [13]

“Similar to any complex technology, if the person implementing or using blockchain or cryptocurrency doesn’t fundamentally understand the tech, you have inherent weaknesses there,” Povony explains. [14] Emphasising the immaturity of the blockchain ecosystem, 77 percent of CIOs surveyed said their organisation had no interest in and/or had no action planned to investigate or develop the technology. [11] In Gartner’s survey, 23 percent of the 293 CIOs that were actively experimenting with or have already deployed blockchain said that it requires the most new skills to implement of any technology area, while 18 percent reported that blockchain skills are the most difficult to find. [11] Those already experimenting with, piloting or implementing blockchains — 33 percent of the survey population — were termed ‘Explorers’, while those not considering the technology were tagged (somewhat dismissively) as ‘Passives’. [11] Forrester In Predictions 2018: Be Ready To Face The Realities Behind The Blockchain Hype, Forrester outlines the key 2018 blockchain trends for CIOs, kicking off with a now-familiar note of caution: “Blockchain technology may not possess the miraculous capabilities that press articles and those with software, books, or other agendas to sell have ascribed to it. [11] A video has surfaced from Abagnale’s speech at a blockchain conference in April in which he shares his thoughts on the burgeoning technology. [30] According to Furlonger, rushed blockchain deployments could result in significant problems of failed innovation, wasted investment, rash decisions and even rejection of a game-changing technology. [11] As you’d expect with an emerging technology, the blockchain market is a rapidly evolving one. [11]

While blockchain has the ability to redefine the field of cybersecurity, it’s ultra secure network can be put to other uses. [32] The latter can be further divided into ‘private’ and ‘community’ blockchain networks — a single enterprise versus a group of companies involved in a particular business process, for example. [11] With permissioned enterprise blockchain networks, inefficiencies in business to business processes created by lack of trust and transparency can be greatly reduced and new innovative business processes can be created, streamlining the exchange of value along an industry’s ecosystem. [32] This ebook, based on the latest ZDNet/TechRepublic special feature, looks at how blockchain is shaking up the economy and changing the way individuals and enterprises conduct business. [11] Business rules that govern what happens to assets during transactions are known as smart contracts, which form a link between decentralized applications (or dApps) and the blockchain itself. [11] The distributed nature of the blockchain means it can take anywhere from minutes to days to settle and clear a Bitcoin transaction. [13] In permissionless blockchains, like those underpinning Bitcoin or Ethereum, more reliance is placed on consensus mechanisms to confirm identities and validate transactions. [11] In this day and age, when AI is under tremendous scrutiny for how it is being trained, imagine if every algorithmic iteration used to train AI was treated as a transaction in a blockchain scenario. [32] Double spending is where the same cryptocurrency is used multiple times for transactions, and is “relatively easy to implement in PoW-based blockchains, because the attacker can exploit the intermediate time between two transactions’ initiation and confirmation to quickly launch an attack,” say Li et al. [11] The blockchain database can only be appended with immutable records of each transaction and time-stamped. [31] Blockchain, he told me is well suited to its original purpose: securing crypto currency transactions, where decentralization, privacy and immutability are top concerns. [13]

IBM extracts three lessons from its conversations with early-adopting blockchain Explorers, starting with the observation that organizations should identify new opportunities to monetise data and alternative payment models (“Orchestrate economic advantage”). [11] In the blockchain, a block consists of the data, a hash of the previous block and a hash of the current block. [31]

Through 2022, only 10% of enterprises will achieve any radical transformation with the use of blockchain technologies. [11] It is important to note that the implementation of blockchain in the enterprise needs consideration that would be different than the public implementations of blockchain. [31] Two starting points to explore enterprise blockchain solutions are on AWS and Azure. [31]

To overcome this challenge, blockchains use distributed databases. [31] Additions to the blockchain can only be made after validation by a majority of nodes using a consensus mechanism, the two main ones being Proof of Work (PoW) and Proof of Stake (PoS), after which the new blocks are distributed to all nodes. [11] Distributed – The blockchain database is distributed with multiple replicas of the same database. [31]

According to the tag’s developers, the new system uses the power of blockchain to connect parties previously unknown to each other, enabling them to co-produce and maintain databases in a decentralised and reliable manner. [17] This Marketplace for Recyclable Plastics not only helped to change the behaviors of citizens through a blockchain reward system but also enabled the safe exchange of Plastic Bank digital tokens as it eliminates the use of cash – often a vulnerability in developing areas. [32]

IDC expects the financial sector to lead the way in blockchain spending for 2018 with $754 million, followed by distribution and services ($510m) and manufacturing and resources ($448m). [11] Leading the way in blockchain planning and experimentation in Gartner’s survey were the telecoms, insurance and financial services sectors. [11] Another widely held belief expressed in IBM’s survey is that blockchain could render the need for trusted intermediaries obsolete, allowing organisations to collaborate and compete in novel ways. [11] Examples of ways blockchain are being used for social good today span across most of the 17 United Nations Sustainable Development Goals. [32] “I think you have to be pretty ignorant not to realize that blockchain is the way of the future,” he said at the Blockchain Nation Miami conference. [30] IBM IBM’s Forward Together report, subtitled ‘Three ways blockchain Explorers chart a new direction’, drew on survey responses from 2,965 CxOs gathered in the first quarter of 2017. [11] The 51% vulnerability refers to the fact that, if a single miner amasses more than 50 percent of the blockchain’s hashing power (in a PoW system) or coin ownership (in a PoS system), that miner can manipulate and modify the blockchain information in various ways. [11] The biggest blockchain investments — over 40 percent of worldwide spending — will be made by the U.S. during this period, followed by Western Europe, China and Asia/Pacific (excluding Japan and China), says IDC. (Note that spending associated with various cryptocurrencies that utilise blockchain, such as Bitcoin, is not included in IDC’s spending guide.) [11] Cryptocurrency is the first and most prominent implementation for blockchain, which was first used for bitcoin in 2009. [14]

Sure, blockchain is fundamentally secure, but it’s also a deregulated, decentralized, and unmanaged platform. [14] Most recently, Intel partnered with SAP to build a blockchain proof-of-concept and improve efficiency for SAP’s blockchain-as-a-service platform. [15]

Here are seven use cases that have made an impression on me and demonstrate how blockchain can not only bring true value to business but also to social impact efforts. [32] Gartner The latest Trend Insight Report from Gartner on Blockchain-Based Transformation sums up the current position succinctly: “While blockchain holds long-term promise in transforming business and society, there is little evidence in short-term reality.” [11] By 2026, the business value added by blockchain will grow to slightly over $360 billion, then surge to more than $3.1 trillion by 2030. [11] As demonstrated through many successful use-cases, blockchain demonstrates tremendous value beyond traditional business. [32]

“If every vital sign from a doctor’s visit or wearable health device, and records of all medicines taken, illnesses and operations could be securely shared on blockchain, then the quality and coordination of care would be expected to rise and costs to fall,” the report claimed. [11] “We write that into the blockchain,” he added, and “it is a permanent, immutable record of everything that has ever happened inside of their database.” [12]

There are two broad types of blockchain networks: ‘permissionless’, which anyone can join; and ‘permissioned’, in which participants are authenticated by whoever is running it. [11] Read: IBM and Maersk launch joint venture to apply blockchain to global trade networks. [17] The complete blockchain database is available with each of the participating entities in a peer-to-peer communicating network. [31] AWS has launched the capability to build blockchain networks on AWS. [31]

The term blockchain can elicit reactions ranging from a blank stare (from the majority of the general public) to evangelical fervour (from over-enthusiastic early adopters). [11] Recording the decision-making process on blockchains could be a step towards achieving the level of transparency and insight into robot minds that will be needed in order to gain public trust.” [32]

Attackers are targeting the blockchain by revamping old threats with a modern twist; as a result, even phishing attacks can compromise blockchain users. [14] Phishing attacks are the most familiar blockchain threats given their commonality and success rate. [14] The third attack vector is blockchain implementation and its supporting tools. [14]

J.P. Morgan recently applied for a patent to facilitate payments between banks using the blockchain. [30] Regarding criticism of the computing and electricity costs of coin mining, Dean Elwood, CEO at Umony, said: “We are not using blockchain as a currency. [11]

RANKED SELECTED SOURCES(39 source documents arranged by frequency of occurrence in the above report)

1. (63) Blockchain and business: Looking beyond the hype | ZDNet

2. (35) Enterprise Security Concerns for Blockchain and How to Mitigate Them

3. (26) Enterprise Cloud Security: Is Blockchain Technology the Missing Link?

4. (26) Blockchain Security: How Safe it is?

5. (24) Will blockchain power the next generation of data security? – Help Net Security

6. (18) Blockchain: A Game Changer – DZone Security

7. (17) 4 reasons blockchain could improve data security | CSO Online

8. (17) Intel Advances Silicon-Based Security for AI and Blockchain Workloads | Intel Newsroom

9. (16) Is blockchain the answer to IoT security? – IoT Agenda

10. (12) SEC Compliant TopiaCoin Completes SAFT, Opening Blockchain Security to Accredited Investors – Global Coin Report

11. (12) Why blockchain won’t transform IoT security – TechRepublic

12. (11) ALTR: Blockchain Boosts Enterprise Security |

13. (11) Blockchain All the Rage But Comes With Numerous Risks

14. (11) Beyond Cryptocurrency: Blockchain for Good – DZone Security

15. (11) How Blockchain Technology Can Prevent Voter Fraud | Investopedia

16. (11) Altr raises $15 million to use blockchain for cybersecurity | VentureBeat

17. (10) RSAs CTO is Bullish on Security. Blockchain? Not so much. | The Security Ledger

18. (10) An introduction to blockchain and what it means for data security | Total Defense

19. (8) Blockchain-enabled, traceable ID tags: an extra layer of security for cargo.

20. (8) Mastercard Files Patent for Blockchain System to Secure Card Payments

21. (8) The Blockchain Security Debate |

22. (7) Intel VP Talks Data Security Focus Amid Rise of .

23. (7) Blockchain Solutions – IBM Blockchain

24. (7) How Secure is Blockchain Technology | Data Security & its Importance

25. (7) BLOCK ARMOUR – Next-Gen Enterprise Cybersecurity Solution

26. (6) ALTR launches with blockchain security tech and deep bench of advisers

27. (6) Frank Abagnale: ‘You?ll See Banks All Move to Blockchain’ | Fortune

28. (6) ALTR Emerges From Stealth With Blockchain-Based Data Security Solution | SecurityWeek.Com

29. (5) Rivetz Enhances Security for Blockchain-based Apps with Trustonic

30. (5) Security Researchers Discover Multiple Epic Vulnerabilities in EOS Blockchain | NewsBTC

31. (5) CESC 2018 – Cryptoeconomics and Security Conference

32. (5) ALTR Releases Blockchain-Based Security Software – Blockchain News

33. (4) Cisco Blog

34. (4) Civic Secure Identity Ecosystem – Decentralized Identity & Reusable KYC

35. (3) Probabilistic Transaction Finality? Blockchain Security? Programmer Explain

36. (3) Realizing blockchains security potential takes work, drug companies find | American Pharmacists Association

37. (2) SEC chairman: Bitcoin not a security but blockchain promising | Multiplier Crypto Business News

38. (1) [1806.04358] Rethinking Blockchain Security: Position Paper

39. (1) Critical RCE Flaw Discovered in Blockchain-Based EOS Smart Contract System