When Bitcoin first arrived at the scene, the only purpose it could serve was to enable monetary transactions over a decentralized network. However, as time passed by Bitcoin was overshadowed by its underlying technology blockchain. People begin to ponder at the innumerable possibilities through the use of blockchain.
Today there exist a myriad of use cases blockchain is catering to. It is a more secure, transparent and reliable platform, hence it is being incorporated in various computerized systems to strengthen their security. Undeniably there have been a lot of reported cases of cryptocurrencies being stolen from their holders but blockchains remain tamper proof, exposing no vulnerability. This is what has made blockchain such an ideal inclusion as to secure various platforms.
As technology has made progress over time, so have the nefarious minds of hackers, finding new ways everyday to design malware. Technologies that are usually in their infancy have room for improvement, back doors that need to be found out and sealed shut to keep out the malicious attacks. Blockchain which provides the promise of being immutable and tamper proof can be integrated in order to secure these platforms. The field of Artificial Intelligence has been making unparalleled progress, with more and more of the operations being accomplished by the use of IoT, there is an adamant need for these platforms to be utterly incorruptible.
IoT connecting hardware to software to relay valuable information, is prone to attacks as it is fed to a centralized system, hence making it vulnerable, with no other entity to keep its validity in check. From here arises the need for decentralized platforms. The blockchain being transparent, can be viewed by all the nodes on the network which potentially removes the threat of corrupting systems. It goes without saying that data has turned into a priceless commodity. To protect this precious commodity the inclusion of a trustless solution that provides transparency and security has become mandatory.
The explosive growth of data has made securing and managing it an insurmountable task. Merely a few decades ago, data was stored on paper and now there are humongous data centers present all over the world to store data. Most of this data is acquired from people using social media, and they are given the impression that they are being offered the service free of cost, but the data sets consisting of data acquired from these users are sold for large sums to corporations. In this way, the users end up getting taken advantage of.
The security dilemma has been causing concern to the companies all over the world. Specifically, the institutions that have have utilize IoT. In a recent report that was published by Gerald, merely 48% of the businesses in which IoT is employed are capable of perceiving a breach. The Internet has expanded and data is all over the place. The centralized institutions can be breached easily, where data is amalgamated. This implies that all data is locked behind one door. A single key can expose the entire reserve whereas in decentralized systems, each node holds its own private key. There is no single point from which every other data reserve can be exploited.
Blockchain can be considered the innovation of the century, but that does not imply that it can satisfy all the security needs. It is a technology which is still considered to be in its infancy, where there is room for growth and improvement. However it is a very helpful tool, an idea or a basis on which further development can take place, which could ultimately make every artificially intelligent system on the network untouchable.