The past two decades have seen most significant businesses employ the internet in one capacity or the other to improve their services. From facilitating transactions and sharing information, to storing sensitive private information, the internet has become an indispensable tool for commerce in today’s world. Making all of these systems secure, however, remains a big challenge for these businesses as is evident from the frequent security breaches that they suffer.

Blockchains could have several potential applications in the field of cybersecurity as a consensus mechanism like Proof of Work ensures that people cannot modify the data stored in the ledger, therefore, increasing operational data resilience. Using digital signatures to manage private information over the blockchain ensures that only people who are authorized to view the information can do so.