How can decentralising data fight grid cyber-threats?
Jesse Morris argues how blockchain technology can bolster cybersecurity:
As the world of energy becomes more digitised and decentralised, the need for solid defence against cybersecurity threats increases drastically. When a blockchain is implemented properly, it offers a strong defence against external and internal threats by mitigating internet-connected and data communications vulnerabilities, and increasing data confidentiality and privacy.
Morris also links to a few interesting papers/ articles, most notably on:
Disintermediation: “With blockchains, intermediaries (escrow corporations) often are no longer necessary, significantly reducing transaction costs.”
Complete data availability: “Blockchains can store data in a decentralised fashion across many nodes. With this architecture, even if some nodes or servers are compromised, users still can access a complete dataset.”
Privacy and control: “Users of a blockchain can choose which data to make immutably transparent and which data to keep encrypted so only the intended recipients can view the contents.”
Outsourcing computation: “Encrypted data can be sent for processing to a third party, without the contents of the data being revealed.”
Antony Ma explains blockchain and why it’s groundbreaking
in understandable terms (after he tried to explain it to his wife). Really like the idea that blockchain brings “properties of the physical world into the virtual world”
Our research identified 100,000 live websites belonging to FTSE 30 organisations, 13,000 pages of which are collecting PII—an average of 400 pages per organisation. What’s worse, a third of these pages are still collecting information insecurely, either through lack of encryption or vulnerable, obsolete encryption algorithms.
Under the regulations, data on Chinese citizens – including personal information, salary details and more – can only be kept within China. The law would also prevent the transmission of any economic, scientific or technological data overseas on either national security or public interest grounds, as defined by the Chinese government.