Polish Blockchain Association Event Tackles Cybersecurity with Blockchain-based Business Solutions

Students, scholars, professionals and business owners revolve their lives around the internet today. Enterprises are especially called for greater caution, as cyberattacks can hijack their information and expose every bit of data they have. Nonetheless, with the help of a public, immutable and transparent blockchain, businesses can address the holes in their security.

An anti-cybersecurity joint product of IBM and blockchain-based information security suite Certihash highlighted its development during the Polish Blockchain Association’s inaugural “Enterprise blockchain – new opportunities event” in Poznań, Poland on September 12, 2022. This event was in partnership with Bitcoin Association. 

This conference brought together a flock of enterprises, startups, and experts who are engaged in blockchain-based projects and platforms. There were also blockchain beginners who attended to learn more about business on blockchain and its potential for greater heights.

The blockchain market is growing rapidly with an estimated growth rate of 68% per year. Businesses are the main targets of these emerging technologies, and Marcin Rzetecki, president of the Blockchain Association of Poland, emphasizes that enterprises should not underestimate the innovation of blockchain, especially with the risk of cyberattacks and how difficult it is to detect their tracks.

“It is an ideal moment for businesses to deepen their knowledge about blockchain technology, key market trends in this area, infrastructure solutions, benefits, challenges, and above all, the emerging opportunities to optimize processes, design new revenue streams and build new business models,” said Rzetecki.

Sentinel Node, IBM and Certihash’s cybersecurity solution

IBM and Certihash collaborated to craft the Sentinel Node, a next-generation cybersecurity detection tool that eyes to minimize the time required to identify a data breach. Currently, it takes 212 days to recognize a cyberattack. Certihash co-founder Gregory Ward claimed that Sentinel Node can make detection near-instant.

According to an IBM-sponsored report from Ponemon titled “Cost of a Data Breach,” aside from reputational, regulatory and other costs, the financial impact of each data breach increased from $3.86 million in 2020 to $4.24 million in 2021. In the United States, the average total cost per breach is $9 million.

Detection is the utmost priority of Sentinel Node, as the security suite provides organizations with the ability to monitor all important logs and files. With the help of BSV blockchain’s transparency as an immutable ledger, generating an auditable trail of everything that happens within these concerned files is without a sweat.

The Sentinel Node utilizes BSV’s high-capacity and scalable blockchain that makes information immutable and secured by proof-of-work (PoW). The PoW protocol verifies transactions through an algorithm and creates a new block on the blockchain. Since BSV is infinitely scalable, companies need not worry about congestion and high fees, as well as the network not being able to handle big data.

Blockchain technology, especially a low-cost, immutable, and scalable one, can greatly reduce time and costs across multiple data-reliant firms. BSV, as the only PoW blockchain that can scale to global proportions, is the best choice for the businesses’ decentralized applications to run reliable and affordability.

Featured Image: Pixabay

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