Books | Technological Vulnerabilities

Quantum computing may render currently used cryptographic techniques obsolete. 

Ajay Singh

There are many who believe that blockchain technology could be the ultimate solution for cybersecurity. Blockchains are also set to become the cornerstone of Web 3.0. The role of blockchain technology in maintaining distributed ledgers and creating trust in an ecosystem that it is lacking in or needs high levels of trust is crucial. The relative success of blockchain technology in the context of building a secure ecosystem for cryptocurrencies is often cited to illustrate how the technology ensures data integrity, auditability and availability.

The financial services industry was among the early adopters of blockchain technology, but adoption by other industries has been slower than expected. The primary reasons for this are related to the technology’s inherent features such as low scalability, complexities in technology design, interoperability, the lack of standardization and talent availability. Nevertheless, other features like immutability, transparency and distributed ledgers all lend themselves to help solve cybersecurity issues. Security experts are optimistic that blockchain technology will redefine the way many business processes, workflows and organisational supply chains function along with addressing regulatory and compliance requirements.

Beyond the hype, it is reasonable to expect that blockchain technology can go mainstream across industries given the overwhelming operating advantages like business continuity, strong cybersecurity and resilience.

Quantum Computing and Cybersecurity

Quantum computing represents a revolutionary change by unleashing computing power of a magnitude that will radically alter the dynamics of information technology as i