Blockchain technology is all the rage right now—but unlike other transient tech developments, blockchains are likely here to stay.
Among other benefits, blockchains will change the way we look at security in the cloud. Here are three ways
Improved Security in Mobile Phones
Now that it’s summer, are your employees opting to attend meetings and portal into work from a remote location? In 2017, employees rarely employees rarely avoid work entirely while they are on vacation.
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Cloud-based office phone systems offer companies unparalleled uptime and flexibility, but all of that mobility comes at the expense of security. That’s where blockchains step in.
By encrypting mobile devices—both publicly and privately—with blockchain technology, telecoms reduce the need for SIMs. Additionally, blockchains could eliminate the need for unique passwords and usernames, the two leading sources of security fraud as far as remote work is concerned.
Lastly (and of huge benefit to companies like Verizon and T-Mobile), blockchains could eliminate data and roaming fraud. From business phone systems to personal devices, blockchains could change the way we think of mobile device security.
Manufacturing safety – IoT
Large companies—especially those who manufacture devices—often use IoT devices to monitor machines. This saves a company from being caught off-guard by equipment malfunctions and regular wear and tear.
Here’s the problem—those devices, which form a grid of networked devices all connected to the internet, can form a serious security threat. They aren’t inherently secure, and without expensive third-party software, the network is open to hackers. These devices can even portal to mission-critical data for the company.
Blockchains would effectively encrypt those devices and create an immutable log of activity, both preventing fraud and helping a business run more smoothly.
Fewer 3rd party providers
As mentioned above, companies often secure software with third-party security systems like Equifax. They are expensive, need to be upgraded regularly, and may or may not provide sufficient coverage.
Blockchains could secure IoT devices and software without having to invoke 3rd-party tools; this saves companies money, but it could threaten the income of many security software providers.
In reality, blockchains won’t hit the mainstream for at least a few more years. They could change the way we do business though, so the time to get ready is now.