Assignment 1_5

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Grand Canyon University *

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Information Systems

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Nov 24, 2024

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Uploaded by DoctorProton10249

Blockchain Technology in Cybersecurity Student’s Name Professor’s Name Course Name Institution Name Date

Blockchain Technology in Cybersecurity As identified by Tapscott and Tapscott (2016) there are numerous applications for blockchain technology today. Among the areas with potentially positive outcomes is cybersecurity, modern society has become heavily reliant on technology which has made the use of blockchain technology a viable solution to the current cybersecurity issues plaguing the globe. The notion is brought about by the increased opportunities for cybersecurity threats such as hacking, the most recent hacking affecting parts of the US being is the unauthorized access to US oil pipeline to the East Coast of the US (Sanger & Perlroth, 2021). The implications were public panic and shortage of fuel due to stockpiling. Nevertheless, with more companies with an online presence preparing for possible cybersecurity threats, blockchain technology offers a simplified and robust solution. Through the explanation of blockchains as expressed by Tapscott and Tapscott (2016), it is evident that it has numerous unique applications (Tapscott & Tapscott, 2016). Among the simplest and most effective applications of blockchain is multifactor authentication. According to Saad et al. (2018) Deliberate Denial of Service (DDoS) attacks, are among the most common form of cybersecurity threats globally. The objective of DDoS attacks is to overload machines and network resources with requests temporarily or completely disrupting services. The attacks are attributed to the current DNS (domain name system), however, implementing the decentralized structure as well as distribution of information over nodes, will make such attacks as well as other forms of cybersecurity threats impossible. The integration of blockchain technology and cybersecurity will nullify the need for passwords, or conventional authentication processes. By limiting the access to data to specific people based on the private key they possess eliminates the prospects of human error limiting the

opportunities for hackers to gain access to data or network resources (Saad et al., 2018). The overall implication will be secure data access and improved security. The approach is critical as more IoT devices are being brought to the market with limited or no security measures. Additionally, without explicit legal regulations, organizations must protect consumer data. Overall, from a personal perspective, blockchain technology is most impactful in the cybersecurity sector as it offers a unique approach to protecting individual data. Moreover, the flexibility of the technology allows it to be applicable in various systems and devices further increasing the scope of influence. Lastly, technology and the reliance on the internet will increase thereby making blockchain technology a vital instrument in maintaining online security integrity.

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References Saad, M., Thai, M., & Mohaisen, A. (2018). POSTER. Proceedings Of The 2018 On Asia Conference On Computer And Communications Security . https://doi.org/10.1145/3196494.3201584 Sanger, D., & Perlroth, N. (2021). Pipeline Attack Yields Urgent Lessons About U.S. Cybersecurity . The New York Times. Retrieved 16 May 2021, from https://www.nytimes.com/2021/05/14/us/politics/pipeline-hack.html . Tapscott, D., & Tapscott, A. (2016). Blockchain Revolution . Penguin.

Assignment 1_5

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