Blockchain in Data Security and Transparency in Business Transactions
Rajat Verma, Namrata Dhanda · 2024
The primary motivation for an organization to succeed is the integrity of its data, transactions, and operations. Data, operations, and transactions have proven to be the most essential assets for any organization to grow and evolve. These assets are required to be protected and to be kept safe. The traditional methods that are already available for securing the assets are not performing well enough in tackling the latest cybersecurity attacks as the conventional methods of security are somehow responsible for weakening the standards of security. On the opposite side, cyberattacks are also evolving at a tremendous pace. The evolved cyberattacks and cyberattackers have found a variety of loopholes in traditional security techniques. They can harm the diverse aspects of cybersecurity by identifying loopholes. Therefore, there is a necessity for some modern and SMART approaches and methods for improving the dependability, security, and other essential aspects of data, operations, and transactions in an organization. The SMART keyword indicates characteristics such as Specific, Measurable, Achievable, Realistic, and Timely. Here, blockchain comes into the scenario, which acts as the next big thing in this security domain. This chapter focuses on enhancing trust and integrity while performing any business transactions through the network peer-to-peer technology blockchain and illustrates a detailed review of the security attacks that data, transactions, and operations could face while operating in any conventional technology.