Blockchain’s Future Role in Cybersecurity. Analysis of Defensive and Offensive Potential Leveraging Blockchain-Based Platforms

Abstract

Blockchain and cybersecurity are two current themes in Information Technology that have evolved and gained tremendous attention over the past few years. In this paper authors aim to structure existing and potential use of blockchain-based cybersecurity solutions from the perspective of attackers and defenders to assess whether the intersection will tip the scales in favor of one of these groups. Historically blockchain has been mainly associated with innovative financial services (including crypto-currencies) but it has other emerging use cases within e-government, supply chain management as well as security (e.g. encryption, identity and authentication, data security). On the other hand, blockchain-based platforms are increasingly a target of malicious actors and could be used as an initial attack vector. Therefore, there is a case to be made weather further adoption of blockchain-based solutions should be encouraged or not from a security standpoint and if the overall potential for change could be net positive.