The features that make blockchain so attractive to enterprises are also the very features that could lead to headaches like “blockchain privacy poisoning", which Gartner has named as one of the biggest risks facing organizations over the next few years.
There is an obvious problem with how we approach cyber security. But blockchain may enable a single marketplace of enterprises, consumers, vendors and geographically-diverse security experts to help revise the hiring model, make cyber security more efficient, and decrease the impact of malicious attacks globally.
Both governments and companies are shepherding the application of blockchain technology across various industries, and of particular interest is how the technology will usher in an era of blockchain contracts. While the blockchain holds promise, there are legal concerns beyond the technological benefits and challenges.
There is reason to be optimistic about the future of cyber security. In today’s world, there is always a “weak link” in the chain that hackers can exploit. In a blockchain world, there are no longer any weak links and every action taken on the blockchain is part of a completely verifiable and trackable digital ledger.