CIOAdvisor Apac

  • Home
  • Vendors
  • News
  • Conference
  • Whitepapers
  • Newsletter
  • Subscribe
  • About Us
  • Specials

  • Menu
      • Ad Management
      • Application Security Testing
      • Artificial Intelligence
      • BPO
      • Contact Center
      • Data Analytics
      • Deep Learning
      • Digital Marketing
      • Digital Transformation
      • Disaster Recovery Services
      • Disinfection and Sanitization
      • E-Invoicing
      • Ecommerce
      • Govt Tech
      • HubSpot
      • Human Resource
      • ICT
      • IoT
      • Laser and Photonics
      • Leadership Development
      • Logistics
      • Machine Learning
      • Marketing Technology
      • Mobile Application
      • Parking Management
      • Payment And Card
      • SDN
      • Telecom
  • Digital Transformation
  • Logistics
  • IoT
  • Payment And Card
  • Artificial Intelligence
Specials
  • Specials

  • Ad Management
  • Application Security Testing
  • Artificial Intelligence
  • BPO
  • Contact Center
  • Data Analytics
  • Deep Learning
  • Digital Marketing
  • Digital Transformation
  • Disaster Recovery Services
  • Disinfection and Sanitization
  • E-Invoicing
  • Ecommerce
  • Govt Tech
  • HubSpot
  • Human Resource
  • ICT
  • IoT
  • Laser and Photonics
  • Leadership Development
  • Logistics
  • Machine Learning
  • Marketing Technology
  • Mobile Application
  • Parking Management
  • Payment And Card
  • SDN
  • Telecom
×
#

CIO Advisor APAC Weekly Brief

Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from CIO Advisor APAC

Subscribe

loading
  • Home
  • News
Editor's Pick (1 - 4 of 8)
left
How Cloud Migration Fueled Digital Transformation and Global Growth for ACI Specialty Benefits

Ryan Fay, Global CIO, ACI Specialty Benefits

Configuration Management Technology and Its Use in Information Technology Management Operations

Kelly Summers, CHCIO, SVP & CIO, Maricopa Integrated Health System

The Advent of Crypto

Grant Brett, CIO, Forex Club

Supporting Business with the Right Technology

Andy Jurczyk, CIO, Seyfarth Shaw LLP

A Closer Look at Block Chain Technology

John Shea, CIO, Eaton Vance

Why are enterprise blockchain solutions not widely adopted yet?

Mariana Gómez de la Villa, Program Director Distributed Ledger Technology, ING

Blockchain: The answer to solve the perennial issues in the Telecom Industry

Neeti Virmani, Venture Partner, Loyal VC

Tug-of-War: Will Blockchain Bring Data Ownership Back to Users?

Nicole Nguyen, Head of APAC, Infinity Blockchain Ventures

right

THANK YOU FOR SUBSCRIBING

Securing Data with Blockchain: Endless Possibilities

CIOAdvisor Apac | Friday, January 18, 2019
Tweet

Since bitcoin first appeared in 2009, there have been a lot of speculations about the future of finances. While interest in the currency itself has fluctuated considerably as its value continues to rise and collapse, bitcoin's underlying database technology has steadily attracted interest from the world’s biggest banks and investment companies. Like a huge booklet, the blockchain records and indexes every bitcoin movement, creating a searchable database for every transaction in the process. Unlike conventional digital books recording data on a central server, the blockchain stores transaction data across vast computer channels that constantly check and verify information.

It will be tedious to analyze and handle such large amounts of data. This is where blockchain comes into play. It helps add another protection layer to the process of big data analytics. Big data generated by blockchain is safer and more valuable thanks to the network architecture, making it an ideal match for further analysis. Blockchain promotes bitcoin, but it can lead to a certain great big data solutions.

Recently, unidentified hackers successfully compromised Bangladesh Bank’s servers and stole $100 million, whereas, in the United Kingdom, Tesco Bank was specifically targeted by a cyber attack which resulted in some 20,000 current accounts being siphoned off. Due to the high level of confidence that consumers place in banks, such cybersecurity breaches can be devastating for hard-earned reputations.

Check Out This : Top 10 APAC Blockchain Solution Providers  ( ECOMI, EdenChain, MC Payment ) 

By storing financial data through a computer network, it is much harder for hackers to access their data. Instead of breaking only one server, it is only possible to falsify the balance or make a fraudulent transaction on a blockchain if the majority of the network is damaged. Even the most successful cybercriminals can find it extremely difficult to hack a single server. It is practically impossible to compromise enough servers to falsify records on the blockchain, particularly since cybercriminals need to break each node concurrently.

The financial services industry is controlled by a mixture of inefficient legacy computer systems that are difficult to maintain. The blockchain opens up new ways of disrupting existing financial services and innovating new financial solutions for customers. Researches in the blockchain technology may be in its formative stages, but it is still clear that those who master it first will become the leaders in the expanding global financial services sector.

tag

Hadoop

cyber attack

Featured Vendors

  • MVI Technologies: Innovative, Future-proof Financial and Payment Switching
    MVI Technologies: Innovative, Future-proof Financial and Payment Switching
  • DATAMARK: Process Driven Solutions in Action
    DATAMARK: Process Driven Solutions in Action
  • IMACREA: Shaping the Future of Teleworking
    IMACREA: Shaping the Future of Teleworking
  • PuzzleBox BPO, Inc.: A Hybrid Platform for Customer Support and Sales Empowerment
    PuzzleBox BPO, Inc.: A Hybrid Platform for Customer Support and Sales Empowerment
ON THE DECK

Read Also

Safeguarding Quality through Proactive Risk Management

Cultivating a Culture of Agility: Nurturing Adaptability for Organizational Success

Governance for Smarter KPIs: Enhancing Performance Measurement

Embracing the Irreplaceable Human in Business and Beyond

Leveraging Gamification for Deeper Financial Engagement

Generative AI: The Game-Changer Automates Marketing For The Retail Industry

Loading...

I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

Copyright © 2025 CIO Advisorapac. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy |  Sitemap

follow on linkedinfollow on twitter
This content is copyright protected

However, if you would like to share the information in this article, you may use the link below:

https://www.cioadvisorapac.com/news/securing-data-with-blockchain-endless-possibilities-nwid-1236.html