This post was updated on 5/20/2020 with updated data estimates.
Technology can transform nearly any process to be more efficient and streamlined. However, innovation sometimes comes at a cost. By utilizing technology like cloud-based storage and the Internet of Things, corporations risk threats to cybersecurity. In fact, cyber-attacks are growing just as rapidly as technological innovation. Data from the Official Cybercrime Report published by Cybersecurity Ventures estimates that cybercrime will cost the world $6 trillion annually by 2021.
The very technologies that enable cyber threats are also useful for reducing risks and minimizing threats.
If you have been keeping up with the cryptocurrency news, then you have likely heard a bit about blockchain. This is the technology ensuring the validity of Bitcoin, Ripple, and other digital currencies. More specifically, blockchain is an online ledger that accounts for every piece of data in a program. In the case of cryptocurrency, this data is in the form of coins and transactions. However, blockchain has far greater benefits than just tracking Bitcoin.
In fact, blockchain can help corporations fight against cyber-attacks. When blockchain is created, it cannot be changed, altered, or deleted over time. It is set in cyber stone. Blockchain is created through a series of sequential hashing coupled with cryptography, the same method used to develop secret languages among secret service agencies. How does this relate to cyber protection against hackers and malicious entities? Organizations can use blockchain to handle secure information. As explored by Tech Crunch, blockchain allows corporations to prevent tampering and detect any form of cyber vandalism. Several companies have already jumped on the blockchain bandwagon including Microsoft, IBM, JPMorgan Chase, Walmart, and UPS.
When a corporation or community is under attack by a cyber threat, timing is of the utmost essence. The quicker you can organize your emergency management team, the better. The sooner you can transmit pertinent information to everyone in your network, the more likely you can reduce the risk of the attack. While the internet, mobile devices, and social media are the modes of communication for cyber hackers, they are also the modes of communication used for those under attack.
By taking advantage of all forms of communications technology, your organization can minimize a threat and set on a correction course more efficiently. Text messages, emails, social media statuses, and phone calls are just the beginning. Consider uploading a quick video message on YouTube, one of the most popular methods of mass media for this day and age. Have access to a multitude of social media apps, such as Snapchat, where you can share information with a wider segment of the population. Internet technology allows you to go wherever your audience is, which is exactly what you want to do when faced with a cyber-attack.
Another area where technology is rapidly advancing for cybersecurity is in the form of advanced detection and protection tools. There are several types of technologies you want to consider for your corporation as part of a comprehensive plan against cyber threats. These include defensive deception techniques that identify attacks early on and transfer critical data before it is accessed or damaged as a result. The use of decoys, as well as web application firewalls, IPS, and web-based deception solutions, helps companies protect their data from attacks.
Here at OnSolve, our cloud-based communication tools play an essential role in protecting your corporation against cyber threats and attacks. IT departments utilize OnSolve to send automated alerts to employees, create escalation paths and use schedules to contact the right IT personnel, at the right time, so they can fix problems before they cause downtime or delays. Contact us to learn more about OnSolve’s IT alerting and emergency notification solutions.
There is an estimated cost of $5 billion in damage for 2017 and recent high-profile hacking incidents in both the private and public sectors. Are you prepared for the risks of Cyberspace?Download The Article