WHAT IS BLOCKCHAIN TECHNOLOGY: Understanding Blockchain Technology – CyberKPIs
Blockchain is a distributed database or ledger shared among a computer network’s nodes. It was created by Satoshi Nakamoto in 2008 for Bitcoin transactions. This technology plays a significant role in enhancing Cybersecurity for SMEs, offering a secure and immutable platform for transactions and data storage.
Blockchain Empowering Small Business Cybersecurity
Blockchain technology offers small businesses enhanced data security and ensures the integrity of transactions, addressing concerns related to Cybersecurity.
SMEs often struggle with Cybersecurity due to limited resources and expertise. Blockchain technology provides a solution by offering a secure and decentralized way to store data. By utilizing cryptographic hashes and a distributed ledger, Blockchain makes it extremely difficult for Cybercriminals to tamper with or compromise the stored information. This added layer of security can be particularly beneficial for Small Businesses, which may not have the means to invest in expensive Cybersecurity solutions. For example, Blockchain can be used to securely store customer data, financial records, and other sensitive information, protecting it from unauthorised access and potential breaches.
Moreover, the immutability of Blockchain records ensures that transactions cannot be altered or deleted once they are recorded. This feature is crucial for SMEs as it helps in maintaining the integrity of financial transactions and other critical data. As a result, Blockchain technology not only empowers Small Businesses to fortify their Cybersecurity measures but also provides them with a competitive advantage by instilling trust and confidence among their customers and partners. Learn More /… Register Free to Receive the full KPI Explainer direct to your Inbox or Smart device
