Colleagues, with good intensions the Japanese,
Chinese, American and British governments are exploring the use of Blockchain
to securely maintain and transmit documents containing sensitive information
about their citizens. The latest example of the UK’ Ministry of Justice assessment of Blockchain for protecting its
repository of digital forms of evidence. In the US Blockchain represents a
means of securely processing records for Social Security, Medicare and other
entitlement programs. Noble endeavors indeed. Nevertheless, the obvious dilemma
is that such data and documents needed for smooth government processes will
only be as secure as the Blockchains used to manage them. Protecting cryptographic keys remains
a top concern. Using hardware security modules (HSMs) and trusted computers in
place of digital wallets and as Blockchain nodes will give security-conscious
users and organizations greater confidence. As reported by McKinsey and Company recent breaches of crypto exchanges clearly indicate that
Blockchain participants and their access to the Blockchain represent a security
weakness that must be addressed before the technology. Bottom line: As we have
previously reported Blockchain adoption will be directly correlated to the
level of both perceived
and actual security. Such security is likely to
increase as the technology matures. Share your thoughts today! Lawrence – Cryptocurrency
Academy (https://cryptocurrencyacademy.blogspot.com/)
Our mission is to provide Training and Certification programs to enable Cryptocurrency, Blockchain and FinTech traders and investors worldwide to achieve their career goals.
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