Blockchain Technology The Future of Cybersecurity
Ahsan Imtiaz, Danish Shehzad, Hussain Akbar, Muhammad Afzaal, Muhammad Faizan Zubair, Fawad Nasim · 2023
Blockchain technology is involved in various sectors, including financial services, energy, healthcare, and the Internet of Things. While blockchain has opened up new avenues for innovation, it has also brought about significant cybersecurity challenges and vulnerabilities. Managing these risks is complex, as it involves aligning cybersecurity strategies with an organization's strategic and operational goals. This paper discusses the broader implications of blockchain technology beyond cryptocurrencies, emphasizing its role in enhancing efficiency, recording property deeds, enabling smart contracts, and more. The research delves into the wide-ranging interest and investments in blockchain technology by organizations, including the U.S. Defense Advanced Research Projects Agency (DARPA). It aims to shed light on the legal aspects of blockchain's rise, which have been relatively understudied in the current legal literature. This paper summarizes the impact of blockchain technology on different applications.