As the world rapidly shifts the underpinnings of complex global commerce to online platforms, blockchain and its distributed ledger technology may offer a compelling approach to minimizing cybersecurity risk. Because of how the blockchain is designed, transactions and related data are immutable, secure and decentralized, and may be impervious to security breaches that might affect data stored in a single, centralized place. How might companies incorporate blockchain to secure data?
This article will discuss blockchain generally and its potential cybersecurity-related functions, security considerations when placing assets on the blockchain, and whether existing laws and regulations will have to be changed to foster new blockchain technologies.
What Is Blockchain?
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