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8. Blockchain Applications in Cybersecurity

Introduction 1 2

  • A blockchain is a digital record of transactions. The name comes from its structure, in which individual records, called blocks, are linked together in a single list, called a chain.
  • Blockchains are used for recording transactions made with cryptocurrencies, such as Bitcoin, and have many other applications.
  • Each transaction added to a blockchain is validated by multiple computers on the Internet. These systems, which are configured to monitor specific types of blockchain transactions, form a peer-to-peer network. They work together to ensure each transaction is valid before it is added to the blockchain
  • This decentralized network of computers ensures a single system cannot add invalid blocks to the chain.
  • When a new block is added to a blockchain, it is linked to the previous block using a cryptographic hash generated from the contents of the previous block.
  • This ensures the chain is never broken and that each block is permanently recorded. It is also intentionally difficult to alter past transactions in a blockchain since all the subsequent blocks must be altered first.
  • Use cases of blockchain:
    • Cryptocurrencies.
    • Smart contracts: execute when certain conditions are met. This provides an automated escrow system for transactions between two parties.
    • Privacy: Blockchain can potentially be used to allow individuals to pay each other without a central clearing point, which is required for ACH and wire transfers.
    • Non-financial uses:
      • IFPS (InterPlanetary File System): a peer-to-peer file-sharing protocol that aims to make the web faster, safer, and more open.
      • Digital signatures.
      • Protect intellectual property.

Blockchain technology in the supply chain 3 4 5 6 7

  • A blockchain network is a distributed ledger—transactions are contained in blocks that are linked together in chronological order to form a tamper-proof chain, which is usually stored in all network nodes.
  • It’s not safe to trust central agencies around the world as most of them are corrupt. E.g. property registration in third-world countries is corrupt and inefficient and there is no way to verify the authenticity of the documents. Blockchain can preserve the integrity of transactions against tampering and revision 3.
  • Blockchain can be used to track every step of the supply chain, from manufacturing, middlemen, and shipping to the final destination. This can help to ensure the authenticity of the products and ensure that products are original 4.

Blockchain applications in cybersecurity 8 9 10 11

Blockchain Applications for Sustainability and Open Innovation 12 13 14 15

  • Blockchain has a great potential to implement trust and hold people accountable 12.
  • Abbreviations: 13:
    • BT: Blockchain technology, which is a decentralized, distributed, and public digital ledger that is used to record transactions across many computers so that any involved record cannot be altered retroactively, without the alteration of all subsequent blocks.
    • OI: Open innovation, which is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology.
    • IP: Intellectual property, which is a category of property that includes intangible creations of the human intellect.
    • IPR: Intellectual property rights, which are the rights given to people over the creations of their minds.
    • ICO: Initial coin offering, a type of crowdfunding using cryptocurrencies.
  • TedX 14:
    • The carbon footprint of products is hard to track; Blockchain can help to track the carbon footprint of products.
    • Sustainability indicates that a process and its outputs are economically viable, socially inclusive, and environmentally friendly; that is, financially supportive, open to all people, and does not harm the surrounding ecology.
    • 17 sustainable development goals (SDGs) were adopted by the United Nations in 2015.

References

  1. Simplilearn. (2020, June 12). Why blockchain matters more than you think - Jack Ma, Bill Gates, Elon Musk, Vitalik|Simplilearn [Video]. YouTube. https://www.youtube.com/watch?v=GVN0Ddr3xig ↩

  2. Blockchain definition. (n.d.). In The tech terms computer dictionary. Retrieved January 10, 2022, from https://techterms.com/definition/blockchain ↩

  3. Edmund Hillary Fellowship. (2018, May 31). Why blockchain technologies matter [Video]. YouTube. https://www.youtube.com/watch?v=STq0MZa-H6U ↩↩

  4. Kochar, S. (2017, February 17). Blockchain for supply chain transparency & traceability – Simardeep [Video]. YouTube. https://www.youtube.com/watch?v=FtK65VH5OBg ↩↩

  5. Tech Asia. (2020, August 7). Blockchain in the supply chain - case examples [Video]. YouTube. https://www.youtube.com/watch?v=iKsezyyjGYE ↩

  6. Using blockchain to drive supply chain transparency. (2017). Deloitte. https://www2.deloitte.com/us/en/pages/operations/articles/blockchain-supply-chain-innovation.html ↩

  7. Zhang, J. (2020, September 9). Deploying blockchain technology in the supply chain. In Thomas, C., Fraga-Lamas, P., & Fernandez-Carames, T. (Eds.), Computer security threats. https://www.intechopen.com/books/computer-security-threats ↩

  8. Arnold, A. (2019, January 30). 4 Promising use cases of blockchain in cybersecurity. Forbes. https://www.forbes.com/sites/andrewarnold/2019/01/30/4-promising-use-cases-of-blockchain-in-cybersecurity/?sh=25d25cda3ac3 ↩

  9. Blockgeeks. (2018, October 1). Real-world blockchain applications – cybersecurity [Video]. YouTube. https://www.youtube.com/watch?v=WvrmgR5gpvA ↩

  10. Lage, O., Diego, S., Urkizu, B., Gomez, E., Gutierrez, Ivan (2019, November 19). Blockchain Applications in Cybersecurity. In Thomas, C., Fraga-Lamas, P., & Fernandez-Carames, T. (Eds.), Computer security threats. https://www.intechopen.com/books/computer-security-threats ↩

  11. Simplilearn. (2019, May 23). Blockchain applications in supply chain, cybersecurity, voting, insurance, real estate | Simplilearn [Video]. YouTube. https://www.youtube.com/watch?v=Y56wQGZ3v-4 ↩

  12. EOSIO. (2018, September 10). How can blockchain help solve environmental issues? [Video]. YouTube. https://www.youtube.com/watch?v=PAWEmyMKLCU ↩↩

  13. Rosa, J. L., Torres-Padrosa, V., el-Fakdi, A., Gibovic, D., Hornyak, O., Maicher, L., & Miralles, F. (2017, November). A survey of blockchain technologies for open innovation. World Open Innovation Conference 2017 at San Francisco, pp. 1 -25. https://www.researchgate.net/publication/321381169_A_Survey_of_Blockchain_Technologies_for_Open_Innovation ↩↩

  14. TEDx Talks. (2019, May 8). Blockchain technology and sustainable development | Dr. Mike Troilo | TEDxUTulsa [Video]. YouTube. https://www.youtube.com/watch?v=ycALWKXsA-k ↩↩

  15. Zhang, J. (2020, September 9). Deploying blockchain technology in the supply chain. In Thomas, C., Fraga-Lamas, P., & Fernandez-Carames, T. (Eds.), Computer security threats. https://www.intechopen.com/books/computer-security-threats ↩