Blockchain Technology and Security Compliance

Abstract

The current digital landscape is constantly under cybersecurity risks and data breaches, making trust and security systems of paramount concern. Blockchain technology offers promising solutions to enhance security and transparency in various sectors. However, it is important to understand the risks associated and proceed with caution with this revolutionary technology, as countless individuals and organizations may be left vulnerable to the fear of data breaches and regulatory pitfalls. This fear, therefore, should not be taken lightly. The struggle to ensure this technology aligns with security compliance regulations is not just a technological challenge- it is integral to safeguarding personal identity, businesses, and our futures in an increasingly uncertain world. As such, this paper looks to examine the intricate relationship between blockchain technology and security compliance, exploring the challenges, solutions, and future implications of this Blockchain technology. Keywords— Blockchain technology, security compliance, data privacy, GDPR, selective mutability, zero-knowledge proofs, smart contracts, auditing, industry-specific approaches, healthcare, supply chain management, AML, KYC