The very high level of dependence on the technology and rising influence of internet on technology today has resulted in innovative business models for enterprises, but with this ascends new fissures and thus opportunities for hackers to exploit even more. Blockchain is the concept which is the result of years of research and inventions in cryptography and information security. It offers an absolutely unique approach to store information, process and manage the same, which makes it a perfect solution for mutually unknown players in the critical setups. This concept is already being used in several pioneering ways to enhance cybersecurity and protect enterprise from cyber attacks. Blockchain provides a principally different approach to cybersecurity, which can go beyond new generation endpoints or perimeters and include user identity, authorization & authentication, and the protection of valuable infrastructure that supports operations across enterprises.
Quantum computing, AI and blockchain are being explored as drivers for business transformation and intelligent change by leading organizations. Quantum computing has the potential to address the computational needs of modern technological industry development in areas such as drug development and manufacturing, where traditional and supercomputers aren't able to provide the simulations necessary to further enhance and deliver new developments to these industries. Over 60 countries have developed national AI strategies and policies to promote AI development and research and explore risk mitigation using AI. Also, distributed ledger technologies using blockchain are helping to secure data and transactions in areas like finance, government, energy, and transportation. Quantum computing, AI and blockchain naturally coincide, as quantum computing will help bring new levels of computational power and efficiency as data growth and accumulation for industry solutions are on the rise.
Despite the security industry being a fast-growing market, with the International Data Corporation (IDC) predicting that worldwide revenues for security-related hardware, software and services will grow from $73.7 billion in 2016 to $101.6 billion in 2020, there appears to a very serious cyber security skills crisis. A report from Frost & Sullivan and (ISC)2 found that the global cyber security workforce will have more than 1.5 million unfilled positions by 2020. This number is compounded by 45% of hiring managers reporting that they are struggling to support additional hiring needs and 62% of respondents reporting that their organisations have too few information security professionals. At the same time, cyber risks are changing every day, becoming more and more complex. As some look to restructure their organisations, develop new workforce strategies, and offer education for employees about new risks, day after day, the demand for cyber security professionals and solutions is getting more insatiable.
Usually, whenever somebody asks "What is blockchain technology?", they will get an answer along the lines of the above quote. But what does that actually mean? And what other promises does blockchain technology have? After the release of Bitcoin in 2009, blockchain technology has been receiving plenty of attention from all kinds of people and companies. Many are interested in all the possible use cases of this new, ground-breaking, technology and companies have been looking at all the possibilities this new technology has to offer.