Can Block-chain Cybersecurity Improve Data Integrity

Posted: January 5th, 2023

Can Block-chain Cybersecurity Improve Data Integrity

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Abstract

The report recommends the use of block-chain cybersecurity to protect data integrity. It describes how an increasing in cyberattacks and threats compels firms that use the Internet for their operations to enact protective techniques that would save their systems from adverse violation. Even though various options are available for organization, the findings from reviewing various papers and from a systematic literature review reveal that blockchain technology provides one of the securest protections to computer systems and networks that accommodate a lot of valuable business and personal data. Despite the limitations associated with the cybersecurity approach, organizations have a chance to embrace best practices that would improve how they benefit from the technology that is fast transforming operations in various sectors, but this is only possible with adhering to the developed laws and regulations. Operators in the UAE and elsewhere should stick to the laws and regulations developed at the national and international levels because they provide key directions on how to use block-chain.

Can Block-chain Cybersecurity Improve Data Integrity

Introduction

The growth of technology presents both positive and negative effects. Organizations that rely on modern technology do not experience any hurdle accessing information. The emergence of the World Wide Web (www) facilitates access to a wide range of information that are applicable in various sectors. In addition, technology offers the chance to save time in whatever one does, and provides the chance to enjoy cost efficiency. Technology is increasingly becoming attractive to many organizations, big and small, because it presents better learning techniques and opportunities. Nevertheless, technology seems to be a threat when it comes to using IoT devices that puts one or a company at the risk of being attacked by online intruders. Increased advancements in technology offers hackers with new skills and information that they use to penetrate unprotected networks. Companies are increasingly embracing a wide range of options that they believe will elevate how they protect their networks from potential violators. A suitable option is using block-chain technology that presents a better chance to protect the integrity of acquired data. Firms that have not adopted the technology should consider the factors that would make them employ the technology successfully and take the right steps towards installing the cybersecurity platform. All organizations must also adhere to the rules and regulations formulated by different admirations to guide the application of block-chain, although administrators need to increase their focus on developing laws that specifically addresses the use of block-chain. Companies should allocate adequate resources towards implementing block-chain cybersecurity to enhance how the firm safeguards its data from possible intruders.

Background

Cases of cyberattacks and cyber threats are becoming more rampant and organizations and individuals are fast embracing measures that would protect them from adverse attacks and violations. A cyber-attack refers to an offensive act that aims at computer information systems, personal computers, computer networks, and related infrastructure, using various techniques to destroy, change, or steal information or data systems. Swinhoe (2021) describes how just recently, an attack that affected the information of a several millions of people would have been a major news. Now violations that tamper with the data of hundreds of millions or even billion of people are far much familiar. More than 3.4 billion saw their data tampered with in only 2 out of the 15 major violations that have happened in the recent past, which shows the magnitude of the problem. The most insignificant incident on the online attacks that Swinhoe (2021) analyzes affected almost 134 million individuals.

Moustafa (2019) informs that although additional resources are being used to counter cyberattacks, individuals and firms still have a long way to go before they, as a whole, can catch up with the threats. The war against cyberattacks and cyber threats is far from over because attackers are fast changing their approaches to continue reaping from the malicious practice. Attackers would make a bold step and infringe on the systems of large firms knowing that they would get huge returns from the practice (Mishra, Varadharajan, Tupakula & Pilli 2018). The types of cyberattacks that have become rampant in the recent past, include malware attacks, which entails introducing a malicious software such as worms, viruses, and ransomware. Other forms of violations that are becoming increasingly rampant are phishing, man in the middle, and distributed denial of service attack (DDoS) among others.

Various firms have so far fallen prey of online attacks, which shows the need to come up with effective mitigation approaches. Adobe, for example, became a victim of cyberattack in 2013 when violators infringed upon and stole at least 3 million encrypted consumer credit cards together with log in data for undisclosed quantity of user accounts. The management later found that the attack included encrypted data and IDs for approximately 37.9 million active subscribers. The incident caused the company to give out $1.2 million to settle the litigation and unidentified amount to customers to settle the issue of contravening the Customer Records Act. In another case, Adult FriendFinder’s (AFF) attack in 2016 impacted on approximately 412.1 million accounts. The American Internet lost data (passwords, addresses, emails, and names) spanning two decades from about six of the major databases. Yahoo is not spared either because a 2014 cyberattack on its systems cost the firm the data of about 3 billion subscribers. However, the company only disclosed about the hack in 2016, a delay that cost the service provider at least $350 million to settle legal feuds.

Such cases of attacks raise fears among operators who now embrace an array of approaches to prevent potential violations. Organizations set passwords that they believe will protect their systems by setting passwords, installing and updating antispyware and antivirus software on each computer, using firewalls, and training workers. The use of block-chain cybersecurity is also increasingly becoming applicable because of the effectiveness associated with the technique. Administrators and legislators are also increasing their focus on developing laws that define how organizations use block-chain with the objective of preventing possible adverse effects that could emerge from using the technology. The regulations vary from one region to the other, but they all aim to restore order in the use of block-chain cybersecurity.

Purpose and Scope

The study aspires to achieve several key factors that all relate to block-chain cybersecurity. One of the chief purposes is to define block-chain and understand its key components. Gaining a clear view on the meaning of block-chain presents an appropriate platform to begin with, and offers guidance on what to discuss. The study also seeks to understand the level of using block-chain technology and how it impacts on operators in various sectors. Examining how rampant organizations use block-chain technology helps to understand whether businesses find the cybersecurity approach useful or not. The other primary objective of the study is to find out if block-chain cybersecurity is effective in the way it promotes data integrity. The outcomes from the analysis of whether block-chain can enhance data integrity provides appropriate guidance to firms that are contemplating embracing the technology, and restores hope that it is possible to deal with attackers who plan to penetrate vulnerable systems. Furthermore, the paper includes the findings from a qualitative research that seeks to find the possible impact of block-chain in enhancing security. The findings from the analysis of the collected data provides guidance on how to come up with recommendations that would help to improve the applicability of block-chain in various sectors, especially those that rely on the Internet for various functions. More fundamentally, the research aims at identifying the national and international regulations that impact on the use of block-chain technology, and compares how such legislations determine the application of the cybersecurity approach in various nations, including UAE and other Western nations. Examining the policies help to understand why it is inevitable to follow the guideline for effective and appropriate application.

Literature Review

Various researchers come up with various descriptions about block-chain security, and even though they use different words they tend to come up with similar descriptions. Mathew (2019) informs that block-chain is a transformative technology set to revolutionize the future of using computers and disrupt various firms with more innovative approaches. The report by Deloitte (2017) supports the statement arguing that the evolution of block-chains, also known as distributed ledger technology has been contrasted to the early emergence of the Internet with arguments and comments of the technology’s capability to disrupt many sectors, encompassing finance, manufacturing, energy, public, and healthcare sector. Zahadat and Patridge (2018) describe block-chain security as a broad risk management approach for a block-chain network, utilizing cybersecurity frameworks, quality and system assurance approaches, and best practices to minimize threats against fraud and attacks. Nevertheless, it is important to differentiate between public and private block-chains before proceeding any further descriptions. Public block-chains according to Deloitte (2017) are platforms that do not require permission to access data, and where information is publicly reachable to anyone who wants to take part in the network. Private block-chains, on the other hand, are avenues that require permission before reaching the targeted data. A group of organizations, individual businesses, or divisions within a company would create a private block-chain where it is only possible to access the data when one is permitted or authenticated. Zhang, Xue, and Liu (2009) refer to block-chain from the perspective of data management as distributed database, which records an emerging list of transactions by arranging them in a categorical chain of blocks. From security view, the block-chain is formed and managed utilizing a peer-to-peer intersection network and protected through decentralized and intelligent use of cryptography with mass computing. Alotaibi (2019) on the other hand terms block-chain as a safe ledger that organizes the escalating list of transactions into a hierarchic intensifying chain of blocks, with every block protected using cryptography technology to strengthen integrity of the recorded transactions. Newly created blocks can only be admitted to the worldwide block chain after competing successfully the decentralized consensus process.

The document by Deloitte (2017) project that block-chains are set to become the heartbeat of financial activities, and the ultimate provider of a new sector fabric. David Schatsky who works as the Director at Deloitte (U.S.) enlightens that the tool presents an appropriate way for logging interactions and all digital dealings in a manner that is harmless, well-organized, apparent, and essentially unaffected by outages. The interest in the technology is immense that it led operators in technology and financial companies to invest close to $1.1 billion in 2016 alone. Schatsky believes that investment in this area is expected to expand significantly over the next half a decade. Deloitte refers to a 2016 report by Gartner, which found that block-chain technology has not yet achieved its peak, and is already a major priority for company and industry leaders to know how it can change their business models and change value chains to achieve competitive advantage and perhaps more essentially to remain consistent and relevant. Leng et al. (2019) and Zhang, Xue, and Liu (2009) support Schatsky’s statement by projecting that the yearly revenue of block-chain based business applications globally will hit $20 billion dollars by 2025, a yearly growth rate of 26.3% from about $2.6 billion in 2016.

The anticipated growth compel some of the leading firms to intensify their research on block-chain technology with the motive of acquiring more information on whether the cybersecurity approach can improve data security. Zhang, Xue, and Liu (2009) identify companies such as Tencent, HSBC, Microsoft, and Cisco as some of the tech giants that are increasingly strengthening lab studies and capital plan on block-chain technology. Zhang, Xue, and Liu (2009) also refer internationally acknowledged financial firms, consulting companies, Internet providers and IT vendors that are increasingly turning their attention towards block-chain. Such firms progressively switch their attention to block-chain technology because Fan, Ren, Wang, Li & Yang (2018) and Zhang, Xue, and Liu (2009) reveal that the technology together with big data and artificial intelligence (AI) are deemed as the three aspects of computing for the next generation business sector. Together with Bitcoin, several similar initiatives, such as the Hyperledger scheme funded by Apache foundation and IBM, FileCoin, and Ethereum offer open source platforms and repositories for research and development on block-chain.

Research confirms that block-chain technology has the capacity to improve data integrity, which encourages firms to adopt the cybersecurity approach. Zahadat and Patridge (2018) relate block-chain security with integrity because the technology is safe from the perspective that it permits users to be confident that their transactions captured on the ledger that is impossible to tamper with are unviolated. Integrity in this case refers to providing guard against inappropriate adjustment or destruction of information, and encompasses achieving authenticity and non-repudiation of data. The fusion of cryptography and sequential hashing together with the decentralized organization makes it very hard for any party to interfere with it compared with a conventional database (Zhang, Xue & Liu 2009). The provision guarantee firms using block-chain about truthfulness and integrity of the information. The consensus structures associated with block-chain also offer businesses with an additional level of guarantee over the safety of the information, as nearly 51% of users in private and public block-chains need to concur that a transaction is appropriate before it is ultimately added onto the platform (Zhang, Xue & Liu 2009). Furthermore, block-chain helps to achieve data integrity the cybersecurity approach presents the chance to promote data quality as well as allows for use of smart contracts that are much safer. Whereas the technology does not elevate or guarantee the quality of data, public and private block-chains are responsible for the quality and preciseness of the data being retrieved from available source systems is of appropriate quality, as is the situation with all other systems of technology (Sari 2018). In addition, provided the inputted information is precise, block-chain cybersecurity can serve a vital function in changing the delivery of data as the technology nears real time capacity, grant firms to ascertain transactional information faster enough than other systems, and enhances firms to take more practical measures (Sari 2018). Nevertheless, considering that information will inevitably be passed from a source of an organization system to a block-chain, various groups must be keen to verify that the exchange avenues are safe as this is without doubt a point of violation and entry for invaders.

On the other hand, smart contracts, which are computer applications functioning on a ledger, have increasingly become a primary component of block-chain cybersecurity in modern times. This kind of application can be utilized to enhance, confirm, or enforce regulations between involved parties permitting for straight through interactions and processing with other smart contracts (Deloitte 2017). The software offers a broad surface area for attacks, so an attack on a single smart contract could cause a domino effect on the other components of the avenue (Paliwal, Chandra & Sharma 2020). Block-chain security, however, presents a paradigm shift in the development of software, which makes it possible to achieve safer development of practices and standards.

Bitcoin is an example of a company that employs block-chain as a trusted, confidential, and safe public platform for all businesses that transact bitcoin on the company’s network. The technology ensures that all transactions are documented, assessed, and saved in cryptographically safeguarded blocks that are chained in a persistent and verifiable way (Taylor et al. 2020). Block-chain is the chief guard in protecting bitcoin deals from various hard and known trust, privacy, and security complications such as unapproved revelation of confidential transactions, double spending, unreliability of devolved computing, and reliance on a trusted chief authority (Taylor et al. 2020). The Bitcoin way of using block-chain is an inspiration for many other operations, such as education, logistics, healthcare, and finance. The success Bitcoin gains from its use of block-chain inspires other firms to install the protection system that has the capacity to protect data integrity.

More fundamentally, institutions that use block-chain security must identify and review some of the laws and regulations that determine the use of the technology, and come up with measures for applying them at their respective stations. It is imperative to come up with such laws and apply them when using block-chain because whereas some jurisdictions accept block-chain technology, others are yet to adopt the approach (Insider 2021). Some contend that block-chain present some security issues that could result in adverse effects, especially when there are no regulations to guide the application process. It is essential to form and use laws on block-chain technology because more firms that deal with cryptocurrencies are emerging and failure to come up with clear guidelines could cause much confusion and present more threats rendering the technology insecure and one that does not win the confident of users (Insider 2021). A good example of how lack of clear block-chain laws could affect cryptocurrency companies is evident in the case of Bitcoin that Insider (2021) identifies as having been intensely volatile over the past few years, leaving many customers and investors skeptical. Therefore, relying on block-chain laws and policies is an indispensable act that all players dealing with the technology must consider.

Methodology

Taylor, Dargahi, Dehghantanha, and Parizi (2019) conduct a systematic literature review to analyze how existing studies portray how block-chain impacts on data integrity. The researchers rely on three primary research questions. The first question seeks to find out the most recent security-oriented block-chain application. The second question is to determine how block-chain is utilized to elevate cybersecurity and data integrity. The third question guiding the researchers is to find the available laws and policies for block-chain cybersecurity and how they impact on applying the technology. Taylor, Dargahi, Dehghantanha, and Parizi (2019) chose to go through the planning, performing, and reporting categories of the review process in that order to permit for thorough assessment of the SLR. The scholars examine and gather data from various trustworthy platforms – Google Scholar, ScienceDirect, and IEEE Xplore Digital Library among others. The searches were conducted against the keywords, abstract, and title. Some of the keywords that Taylor, Dargahi, Dehghantanha, and Parizi (2019) use to identify the necessary sources, include cyber-security, cybersecurity, block-chain, blockchain distributed ledger, security, data integrity, and cyberattack. All the searches happened on 30 April, 2018, and they processed all studies that had been produced up to the date of the research. Taylor, Dargahi, Dehghantanha, and Parizi (2019) filter results from the searches using the inclusion/exclusion criteria, which enabled the researchers to come up with a set of findings that could further analyzed using the snowballing technique.

Findings

Each source was examined in its entirety and applicable data were collected and shortened in a manner that is easy to comprehend. Regarding the question on the latest approaches that enhance block-chain operations, Taylor, Dargahi, Dehghantanha, and Parizi (2019) found that various key components now impact on how organizations use private and public block-chains. They identified various components such as logistics monitoring, supply chain, real-time Internet of Things operating systems, safe sharing of data, anti-money laundering monitoring systems, and tracking media productions. On the question regarding the impact of cybersecurity in enhancing the integrity of data, Taylor, Dargahi, Dehghantanha, and Parizi (2019) come up with valuable findings that may increase the urge among businesses to embrace the cybersecurity approach, one of which entails enhancing the right to be forgotten. They realize that concerning immutability of data, it is essential to note how block-chains will complement with data privacy regulations. Taylor, Dargahi, Dehghantanha, and Parizi (2019) discover from the research that how to execute the right to be forgotten in a technology that provides surety that no information will be delated is an interesting obstacle for which, luckily there are several remedies. An effective solution based on the results by Taylor, Dargahi, Dehghantanha, and Parizi (2019) is to encrypt the personal data written in the network, to be certain that when the time arrives, not remembering the keys or codes will ensure that confidential information is no longer available. Another possibility based on the outcome of the systematic literature review is to pay attention to the values of block-chain to offer an unaffected facts by recording the transactions even though the dealings are actually stored outside the network. The study reveals how block-chain technology offers a suitable chance to achieve the integrity of all dealings, while permitting the ability to delate the transactions, retaining only insignificant bits of forgotten data in the block-chain. 

Regarding the third question on what regulations and laws impact on block-chain related activities and how they influence firms that use the technology, Taylor, Dargahi, Dehghantanha, and Parizi (2019) find considerable variations in the way states formulate and apply such directives. The researchers discover that whereas some nations, especially in the Global North have made significant strides in developing policies that impact on companies that use block-chain, others are still contemplating on whether to embrace the technology (Taylor, Dargahi, Dehghantanha & Parizi 2019). The scholars give the example of Malta that they find as having developed a stable and inclusive guideline for cryptocurrency utilized to avert financial crime and money laundering through its Malta Financial Services Authority (MFSA). The study also identifies Japan and South Korea as some of the countries that have developed some of the most progressive regulatory structures for cryptocurrencies (Taylor, Dargahi, Dehghantanha & Parizi 2019). Such findings help to understand how more nations and organizations are seeing the need to create and comply with block-chain laws.

Discussion and Analysis

The study shows the power in block-chain technology to improve data integrity, and motivates operators in various sectors to consider the option as a possible technique for thwarting the wicked intention of hackers and those unpermitted to access computer systems and networks. The findings prompt operators in various fields to find out how they would benefit from the block-chain and amerce the necessary resources to make the program learning (Taylor, Dargahi, Dehghantanha & Parizi 2019). In addition, the study informs why it is imperative to consider various components or applications associated with block-chain technology because the technique is growing very fast and new ideas are likely to emerge within a short time (Laroiya, Saxena & Komalavalli 2020). Active and practical installation of block-chain systems offers the company the chance to restore confidence in the company, and creates the feeling that the firm cares and values the data it generates from various parties, including buyers, suppliers, and shareholders.

It is imperative for the companies that aspire to use blockchain cybersecurity in the UAE to consider adhering to the provided laws and regulations. A report by Insider (2021) informs that cryptocurrency has be a matter of continuous debates among different economies and governments. While some states maintain a generally welcoming approach towards digital platforms, developing regulations and policies to support their functions, other administrators remain reluctant and undecided, and are yet to come up with official directives on acceptance or legality. Even though regulations on blockchain technology are not highly developed in the UAE, the FSRA (Financial Services Regulatory Authority) of ADGM (Abu Dhabi Global Market) developed a comprehensive guideline in 2018 to govern crypto asset operations (ADGM FSRA 2019). The regulation requires firms to consider all components when employing cybersecurity plans, including reliability and ease of management. Besides, implementers should follow the directives of the ICLG that provides guidelines on how to combat cybersecurity. For example, the ICLG directs firms to use beacons, honeypots, and sinkholes to protect their IT systems, some of which apply the concepts used in blockchain technology (ICLG 2021). Adhering to all regulations helps to follow the right steps during implementation and provides the chance to evade legal liabilities.

Other regions also develop laws and regulations to govern the application of blockchain cybersecurity and cryptocurrency. On 5 July 2016, the European Commission (EC) developed a legislative proposal to change the AMLD (Fourth Anti-Money Laundering Directive) (Library of Congress 2021). It recommended, among other things, bringing virtual currency exchange and custodian wallet providers within the cover of the AMLD, meaning they would be obliged to achieve due diligence necessities and have rules to identify, avert, and report inappropriate transfer and use of encrypted transactions (Library of Congress 2021). The proposed regulation further describes virtual currencies as digital presentation of value that is not provided either by a public institution or a central bank, not necessarily attached a government-issued currency, but acknowledged by legal entities as a form of payment and can be moved, stored, or transacted electronically. In addition, the EC on 8 March 2018 introduced an Action Plan on how to benefit from the opportunities offered by technology-based techniques in the financial sector, such as cloud computing, AI, and blockchain (Library of Congress 2021). The Plan details a recently formed Blockchain Observatory and Forum in the EU, which will identify and report on the barriers and chances of developing crypto currency, and also outlines a comprehensive structure on blockchain and distributed ledger addressing all industries of the economy (Library of Congress 2021). However, various groups are raising concerns regarding reliance on firms that purely depend on blockchain cybersecurity claiming that the present inherent security threats. For example, the European Supervisory Authorities warns against virtual currencies arguing that they are highly unrestricted and risky (Library of Congress 2021). The regulations in the EU plays vital functions in determining how firms employ the technology and how people relate with it.

The United States holds a general positive view on the utilization of bitcoin and other forms of cryptocurrencies, though not very much formal regulations have been formulated. Most discussions on regulating blockchain have happened at the agency level, encompassing Financial Crimes Enforcement Network and Federal Trade Commission among others that have their views and stances on blockchain and how regulations should executed (Insider 2021). In addition, the Internal Revenue Service has provided further guidance on cryptocurrency, and now acknowledges the virtual asset as an area that requires proper tax guidance (Insider 2021). Nevertheless, the federal government has not come in to govern blockchain without engaging states as it does with other financial laws and policies, thereby providing states with the mandate to formulate their own regulations and structures (Insider 2021). Overall, an analysis of the laws regulating blockchain-related practices shows that more needs to happen to come up with more specific and clear directives that would make the process more efficient.

Recommendations

Organizations can improve how they use both private and public block-chains by taking several bold steps now that it is apparent that the technology presents a better chance to enhance data security. Firms that are yet to adopt block-chain should rely on an effective theory of change management and make appropriate changes. A suitable framework in this case is Kurt Lewin’s change model, which entails three primary phases; unfreezing, change, and refreezing (Cummings, Bridgman & Brown 2016). The approach requires organizations to acknowledge the need for change, then enact measures to shift towards the newly identified and desired level of practice or behavior (Adam & Suleiman 2018). Soon after enacting all the necessary measures, the firm should take measures to strengthen the newly acquired approach. Thus, firms that are yet to install block-chain should begin by creating the urge for change before taking the initiative to implement necessary changes. The installation process requires the firm to seek the services of qualified professionals to ensure that the all systems function as expected. The management or team in charge of the installation process should continuously encourage team members to embrace the technology and put more effort at the individual level to realize the best results. Another possible option to improve the use of block-chain in improving data integrity is to train all workers about how the process works to equip them with the relevant skills and knowledge needed to achieve the best results (Laroiya, Saxena & Komalavalli 2020). Besides, companies aspiring to deploy the technology should engage in continuous research and development to acquire valuable tips on how to make the process successful and possibly gain competitive advantage from the way it protects the integrity of its data.

Businesses that apply block-chain technology should not forget to consider the possible limitations associated with the technology to achieve the best results. A possible limitation with block-chain is that it is not entirely protected from online attackers, which requires users to pay considerable attention to other possible measures of averting cyberattacks (Laroiya, Saxena & Komalavalli 2020). Relying on block-chain security alone could be unwise because the intruders could be conversant with how the technology works, and can easily come with alternative ways of penetrating computer systems and networks (Laroiya, Saxena & Komalavalli 2020). Another limitation associated with the technology is that it requires heavy financial commitment to install the network and get it working. Acquiring the software and hardware is a costly venture that only companies with adequate financial power can manage. The other limitation with the block-chain tech is that it is irreversible, which makes it impossible to go back when it is very necessary (Laroiya, Saxena & Komalavalli 2020). Companies should not let the limitations associated with block-chain deny them the chance to benefit from the technology that offers a better chance to protect data from malicious people.

Furthermore, nations and businesses should prioritize relying on block-chain laws and regulations because it emerges that failure to consider such regulations could present adverse eventualities, including security threats. Nations should emulate what others are doing in creating and applying the regulations to get a hint of what ought to happen to come up with effective policies (Insider 2021). It is also important for companies to be conversant with the developed guidelines and invite experts if necessary to help with interpreting particular concepts that are not clear. Besides, nations should review the regulations as often as possible to embrace modern aspects that are likely to achieve the best outcomes.

Lessons Learned

The study presents valuable lessons regarding the effects of block-chain cybersecurity in enhancing the integrity of organizational data. One of the fundamental lessons from the study is that running online operations without taking appropriate protective measures is dangerous and exposes the company to a wide range of threats that could affect the integrity of data. Thus, organizations learn the importance of identifying the most suitable protection methods that would protect the firm from recording huge loss (ElMamy et al. 2020). The study shows the need to collaborate with companies that record significant achievement in their application of block-chains and borrow lessons that may help to make necessary advancements, including how others rely on laws and policies for proper application of the technology. Liaising with other companies that record significant outcomes from their application of the technology present a chance to know what ought to happen and what should not happen to realize the best outcome (ElMamy et al. 2020). In addition, the study urges operators using the technology to appreciate the act of engaging in intense researches to gain helpful tips on how to make the process successful. Companies should retrieve information from multiple sources and assess the content keenly to gain information that would help the organization to elevate how it relies on block-chain to protect the integrity of stored and incoming data. Finally, the study shows the importance of reading trends and acting quickly to fit into the new system, as well as adhering to all laws and regulations created to guide the use of blockchain. An organization that does not read and analyze possible trends, including laws and regulations in averting cyberattacks increase its chances of suffering a huge setback. However, failing to borrow helpful lessons from the report and taking measures to apply them could jeopardize how an institution strives to enhance the integrity of its data. Such loopholes would give hackers the chance to penetrate networks and systems ending up causing serious damage to the systems.

Conclusion

The study provides valuable information regarding how blockchain security could improve the integrity of organizational data, especially when relying on appropriate laws and regulations. The study begins with background information that explains how the issue of cybercrime is increasingly becoming problematic, and firms are adopting techniques that they believe will improve how they protect the organization’s computer systems and networks. Among the various options that businesses can use to safeguard their systems from online attacks, using both private and public block-chains offer a suitable opportunity to protect organizational data and to record all transactions that the organization performs. The study identifies Bitcoin as a company that is doing well in the way it in the way it uses block-chain to protect its systems. The firm inspires many organizations that are contemplating embracing the technology. So far, many leading tech companies have already taken measures to make use of the technology, and report positive outcome from the process. The study shows how the technology elevates data quality and provides the chance to use smart contracts that are changing how organizations safeguard their systems and data. In addition, the findings of a systematic literature review encourages businesses to embrace the technology that provides assurance that hackers would not steal valuable information. Firms that are yet to embrace block-chain cybersecurity should borrow valuable lessons from the report and take measures to implement the technology, including learning how other nations develop laws to define the application of block-chain technology. Firms should also follow all the laws set to regulate the use of block-chain in different jurisdictions, and ensure that they are up to date with latest developments. The paper recommends relying on Kurt Lewin’s model of change that provides the chance to introduce the concept and encourage everyone to support the change. Firms should also take the initiative to train their employees about the most suitable ways for benefiting from the technology because this provides the chance to acquire new and appropriate skills on how the technology works.

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