Using the blockchain to prevent data breaches

VentureBeat February 12, 2023
Jenelle Fulton-Brown

Data breaches have, unfortunately, become an all-too-common reality. The Varonis 2021 Data Risk Report indicates that most corporations have poor cybersecurity practices and unprotected data, making them vulnerable to cyberattacks and data loss.

With a single data breach costing a company an average of $3.86 million and eroding a brand’s reputation and its consumers’ trust, mitigating the risks is no longer a luxury. However, as cyberattacks get more pervasive and sophisticated, merely patching up traditional cybersecurity measures may not be enough to fend off future data breaches.

Instead, it’s imperative to start seeking more advanced security solutions. As far as innovative solutions go, preventing data breaches by utilizing the blockchain may be our best hope.

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