Blockchain is a decentralized ledger system that securely records and protects transactional data. Additionally, it eliminates single points of failure while offering encryption to guard against cyber attacks (more at https://www.apostro.xyz/product/blockchain-security). Companies can benefit from cyber insurance in numerous ways, including protection against identity theft. Furthermore, it has the capacity to detect and monitor data changes.
Decentralized storage
For those seeking to protect their privacy and data, decentralized storage (DCS) is an ideal solution. This type of cloud storage encrypts, fragments and distributes your information across multiple hosting nodes located around the world.
This technology addresses many issues associated with traditional cloud storage, such as censorship, security breaches and hacking. Furthermore, it reduces bandwidth consumption and makes data access possible from anywhere in the world.
DCS also provides the benefit of file preservation, keeping files intact over time. This is essential as files should still be accessible five, ten, or twenty years from now.
Transparent ledgers
Cryptography-based blockchain technology, one of the newest tech trends, creates transparent ledgers that are virtually unhackable. They store data and transactions in a secure database spread out over multiple computers.
Blockchains can either be public, like bitcoin, or permissioned; that is, only accessible to a select group of users who agree on certain standards for use. Automating accounting and reducing human error are great uses for blockchain technology.
For instance, a retailer sends an order to a supplier and they record it on the blockchain. Subsequently, the firm asks the bank for a working-capital loan in order to produce the goods.
Blockchain can improve supply chain traceability and help reduce fraudulence. Companies are even using it for international payments.
Real-time record-keeping
Real-time record keeping is a critical element of blockchain and cyber security. It provides companies with access to up-to-date data about their assets and fleets, making it simple for managers to detect any missing or stolen items quickly.
For instance, companies manufacturing pharmaceutical products can utilize blockchain to monitor their inventory throughout the production and distribution processes. Doing so helps prevent counterfeit or contaminated drugs from entering the supply chain.
Additionally, companies that maintain deed records can utilize blockchain technology to confirm ownership of properties. This eliminates the need to scan and track documents at a local recording office, leading to more efficient property management.
Password-free entry
With the growing number of internet-enabled devices, providing secure, convenient and compliant ways for employees to access their digital assets is becoming more critical. One solution is password-free entry – typically using either one-time passcodes, biometrics or a combination of both. Password-free entry offers numerous advantages including lower cost of ownership, easier maintenance and reliable security. Furthermore, this type of entry may be ideal for organizations that require frequent travel such as contractors or employees in the field. It’s wise to consult a reliable source for advice on which password-free solutions will best fit your organization – including what products work in your environment and which ones meet compliance requirements.
