Will Blockchain improve financial cybersecurity?
Financial cybersecurity has crawled into prominence ever since finance moved from pulp-notes to silicon chips. With all the convenience of digital banking and financial solutions, fintech also comes bundled with its set of disadvantages including compromise in security and other associated vulnerabilities. The blockchain is looked at as an almost-panacea for the challenges that the world faces with financial security, or fintech to be concise. at this juncture, it is important to understand what a blockchain exactly is. Blockchain Financial Cybersecurity A blockchain is a distributed Ledger when blocks of information are chained together by cryptographic hashing. Any financial transactions append new blocks to the ledger and it still stays chained with the first block that initiated the transaction. The data inside the block is encrypted and is immutable. This would mean that only the users with the right access to them would be able to even view the data in the block. The i...