Some mainstream media seat the blame for the latest WannaCry cyber assault on Bitcoin, thoughtlessly copy-pasting the statements that the cryptocurrency is a convenient tool for terrorists.
In reality, the technologies behind Bitcoin together with other cryptocurrencies powerfulness real good move past times away the adjacent degree safety against futurity attacks.
Ransomware
Ransomware attacks of an unprecedented scale seat hundreds of thousands of computers at risk. As Bitcoin together with Blockchain possess got the limelight again, Blockchain may offering a feasible solution.
NSA tools together with Windows vulnerability caused the largest cyber assault inwards history. While Bitcoin together with Blockchain tin sack easily live on singled out equally a scapegoat, companies are already tackling the vulnerability of centralized systems together with creating groundbreaking solutions unopen to ID safety together with verification on the Blockchain.
Extortion
In the wake of WannaCry, the enquiry of safety has move past times away to a greater extent than pronounced than ever. The same technology scientific discipline that allows Bitcoin extortion to the hacker powerfulness real good live on the protection from such events happening again. After the NHS was hacked, Blockchain experts were quick to betoken out that secure verification on the Blockchain powerfulness possess got prevented the exploits.
Blockchain solutions
The Blockchain together with a decentralized ledger possess got been praised for its safety strengths since the inception of Bitcoin. Now after the WannaCry attacks, the focus on this has move past times away fifty-fifty to a greater extent than pronounced. Sphre, the identity administration draw of piece of job solid has announced a partnership amongst Airbitz, which is a information safety platform together with Bitcoin wallet. According to the firm, Sphre’s AIR is a smart contract based platform that looks to bring together the secure administration together with monetization of digital identities.
Sphre Director, Daren Seymor tells Alexander Geralis of Cointelegraph inwards an exclusive comment:
“The Airbitz wallet integration volition shape a key constituent of the Air Platform to deliver XID micropayment together with send/exchange functionality.”
Future ID security
Regarding the high-profile attacks of WannaCry that possess got seat hundreds of systems at risk, he sees that in that place is a require for security, directly it is to a greater extent than evident than ever.
Seymor went on to betoken out the require for decentralized solutions inwards safety equally opposed to centralized ones:
“The electrical current high-profile zero-day exploit of WannaCry shows us that the Internet is even then a unsafe house for people together with institutions. Centralized identity solutions such equally Facebook together with Google directly stand upward for e'er increasing value to bad actors based on constantly evolving attack[s]... centralized solutions volition move past times away [necessary] equally nosotros move past times away on to evolve with, together with transact to a greater extent than of our lives via the Internet.”
AIR, which volition possess got its crowd sale afterwards this month, is non the exclusively fellowship working towards identity safety together with verification. South African entrepreneur together with Bitcoin advocate, Vinny Lingham’s Civic is some other projection aiming to hand users identity security.