Blockchain technology is most often associated with cryptocurrencies and financial services applications. But, it’s the very decentralized nature and cryptographic anchor of blockchain that makes it a prime foundation for cybersecurity solutions, particularly considering the continued mass-scale data breaches and identity theft happening on a worldwide scale and within the most well-guarded corporate perimeters. The race is on for blockchain-based cybersecurity. ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies, has identified the fifteen startups in the blockchain-based cybersecurity space who are driving these unprecedented security solutions.
These startups are the hot tech innovators who are aiming to harness the transformative features of blockchain and transform existing security models around identity, authentication, and data protection. By leveraging digital signatures, cryptographic hashing, and consensus mechanisms in a distributed ledger format, these innovators hope to provide long-awaited solutions to the problems of data theft and loss.
“The blockchain infrastructure can enable a strengthening of traditional cybersecurity practices, such as identity management and access control for example, by finding new applications for existing technologies, such as decentralized DDoS protection, or distributed PKI,” says Michela Menting, Research Director at ABI Research.
“Going forward, we will see increasing interest in using blockchain to protect all types of data (identity, corporate, financial) in transit and at rest. Most importantly, these technologies will be just as easily available to individuals wanting to regain control and protect their personal information, as well as to large organizations managing terabytes of business data,” Menting concludes.
And, the Hot Tech Innovators in Blockchain-Based Cybersecurity are:
- Block Armour
- Cambridge Blockchain
- Gospel Technology
- Obsidian Platform
These findings are from ABI Research’s Hot Tech Innovators: Blockchain-Based Cybersecurity report. This report is part of the company’s Digital Security research service, which includes research, data, and analyst insights.
Source – PR Newswire