Some mainstream media pose the blame for the latest WannaCry cyber laid on 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 mightiness real good choke the adjacent marking safety against hereafter attacks.
Ransomware
Ransomware attacks of an unprecedented scale pose hundreds of thousands of computers at risk. As Bitcoin together with Blockchain accept the limelight again, Blockchain may offering a feasible solution.
NSA tools together with Windows vulnerability caused the largest cyber laid on inwards history. While Bitcoin together with Blockchain tin easily survive singled out equally a scapegoat, companies are already tackling the vulnerability of centralized systems together with creating groundbreaking solutions roughly ID safety together with verification on the Blockchain.
Extortion
In the wake of WannaCry, the query of safety has choke to a greater extent than pronounced than ever. The same applied scientific discipline that allows Bitcoin extortion to the hacker mightiness real good survive the protection from such events happening again. After the NHS was hacked, Blockchain experts were quick to indicate out that secure verification on the Blockchain mightiness own got prevented the exploits.
Blockchain solutions
The Blockchain together with a decentralized ledger own got been praised for its safety strengths since the inception of Bitcoin. Now after the WannaCry attacks, the focus on this has choke fifty-fifty to a greater extent than pronounced. Sphre, the identity administration trace of piece of job solid has announced a partnership alongside 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 cast 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 own got pose hundreds of systems at risk, he sees that at that spot is a ask for security, straightaway it is to a greater extent than evident than ever.
Seymor went on to indicate out the ask 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 withal a unsafe house for people together with institutions. Centralized identity solutions such equally Facebook together with Google straightaway stand upward for e'er increasing value to bad actors based on constantly evolving attack[s]... centralized solutions volition choke [necessary] equally nosotros choke along to evolve with, together with transact to a greater extent than of our lives via the Internet.”
AIR, which volition own got its crowd sale later on this month, is non the entirely society 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.
