Elevating Data Security: The Imperative Shift From Legacy Technologies To Blockchain Solutions
By Shamsh Hadi, CEO and Co-founder of ZorroSign
In an era where digital threats are becoming increasingly sophisticated, the cybersecurity community is facing a pivotal challenge. A recent analysis by Crowdstrike offers a critical examination of traditional data loss prevention (DLP) tools, revealing their shortcomings in the face of modern cyber threats. This compelling critique underscores the urgency for an evolution in cybersecurity strategies.
Crowdstrike’s blog delineates the inherent weaknesses of legacy DLP systems, painting a concerning picture of the current state of data security. It highlights the heightened vulnerability of unstructured data on endpoints, which are increasingly prone to misuse or breaches. Alarmingly, Crowdstrike also reveals that more than one-third of data loss prevention initiatives are unsuccessful, pointing to a significant gap in the efficacy of current strategies. Further complicating the issue is the complexity of modern data types, which often surpass the processing capabilities of traditional DLP tools, leaving organisations inadequately protected.
These revelations call for a reassessment of our cybersecurity methodologies and the adoption of more resilient and forward-thinking solutions.
Concurring with Crowdstrike’s analysis, I advocate for a paradigm shift towards blockchain technology as a robust alternative. This transition is not merely an upgrade but a fundamental change in how we approach cybersecurity.
The argument for blockchain, as the foundation of our data storage and security strategy, rests on four pillars:
- Immutable Records: Blockchain’s inherent nature of providing secure, tamper-proof record-keeping is unparalleled. Utilising cryptography and peer-consensus mechanisms, it ensures that once data is recorded on the blockchain, altering or deleting it becomes a formidable challenge. This level of security is crucial in scenarios requiring airtight audit trails, such as in financial transactions or real estate agreements.
- Secure Authentication: Traditional authentication methods, such as passwords, are increasingly vulnerable. Blockchain addresses this through public-private key cryptography, eliminating the need for passwords and significantly enhancing security, especially for businesses handling sensitive user data.
- Decentralisation: Unlike centralised databases prone to breaches, blockchain’s decentralised structure eliminates single points of failure. This architecture not only complicates the process for potential hackers but also ensures that a breach at one node does not compromise the entire dataset.
- Identity Verification: Blockchain’s application in identity verification adds another layer of cybersecurity, offering users more control over their personal information and making identity theft or fake identity creation exceedingly difficult.
Value of Blockchain to Security
Blockchain architecture, originally built for zero-trust environments, gives organisations a compelling alternative to centralised databases and strong protection against cyberattacks. In phishing attacks that seek to steal data, for example, blockchain presents a data architecture where no single endpoint node controls the data set. Even if an individual endpoint is hacked through phishing or through other means of social engineering, the data set is distributed across many nodes. This decentralisation of data and access means even successful phishing attacks that penetrate a blockchain endpoint only gain a small piece of system access.
Similarly, in cyberattacks that seek to inject malware, such as ransomware, the distributed nature of blockchain defeats breaches to a system that seek to holistically ransom data stored therein. Again, a single endpoint node might be breached, but the larger data set cannot be controlled by one endpoint (or central authority), so attackers cannot capture the full data set to encrypt, ransom, and shut down the network. Recovery is also quicker with blockchain!
Each endpoint node has a unique encryption key to access and write to the distributed ledger. If any one of those endpoints is successfully hacked (compromising their access key), the blockchain can simply remove distributed ledger access for that compromised key, issue the endpoint a new key, and allow that endpoint to quickly regain distributed ledger access, effectively as a new endpoint. This speedy recovery process effectively maroons any ransomware on the endpoint it attacked, ending its access and threat while allowing the endpoint to re-engage the larger data set with a new key and without needing to pay any ransom to the attackers for restored access.
ZorroSign’s Blockchain-Based Data Security Platform
Recognising these advantages, ZorroSign has been built on the robust foundation of Hyperledger Fabric, coupled with our recent integration with Provence Blockchain. Our multi-chain platform, Z-Vault®, epitomises the shift from legacy technologies to blockchain. It allows users to store, organise, and search documents with unparalleled data privacy and security.
Z-Vault extends beyond just storage; it’s a comprehensive document management system with superior privacy and security features compared to PKI-based solutions. It is designed for ease of use, allowing efficient management of contracts and documents through an intuitive interface, accessible via PCs and mobile devices.
Z-Vault’s Organisational Benefits:
- Enhanced privacy and security measures surpassing centralised database solutions.
- Cutting-edge encryption technologies safeguarding data integrity.
- An accessible yet secure platform for authorised users.
- Streamlined document management, including contract storage and architectural drawings, with added functionalities for collaboration.
In conclusion, the shift to blockchain-based data storage is not just an incremental improvement but a necessary stride towards bolstering cybersecurity. I encourage a deeper exploration of Z-Vault to experience firsthand the transformational impact of blockchain on data storage and security.