The current internet architecture has proven easy to hack, especially when it comes to IoT devices. As critical infrastructure like power plants and transportation all become equipped with connected sensors, the risks to civil society as we know it are great. Companies like Xage, for example, are employing blockchain’s tamperproof ledgers to sharing security data across industrial device networks.
Though blockchain’s ledger is public, its data communications are sent and verified using advanced cryptographic techniques — ensuring that data is coming from correct sources and that nothing is intercepted in the interim. Thus, if blockchain adoption is more widely accepted, the probability of hacking could go down, as the cyber protection of the technology is more robust than legacy systems.
Other potential applications include using blockchain to provide massive scale data authentication. For example, using its blockchain-enabled KSI (Keyless Signature Infrastructure), cybersecurity startup Guardtime tags and verifies data transactions.