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Title |
Applying Blockchain as a Decentralized Cybersecurity Framework |
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Author |
Fahad F. Alruwaili |
| Citation |
Vol. 20 No. 2 pp. 113-119 |
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Abstract |
The blockchain applications have attracted a larger interest in the research community following its recent success in the financial industry of cryptocurrencies. Blockchain is a decentralized and distributed ledger technology in which, all transactions or events take place in a trustless peer-to-peer network without involving intermediaries. Considering the recent technological advancements, blockchain has the potential to revamp heterogeneous business models across different industries. Though it promises a secure distributed framework to smoother the exchanging, sharing and integration of information across all the users and third parties, it is important for the planners and decision-makers to carefully analyze it’s secure application and suitability in different industry and business. The blockchain should be considered only where applicable and provides a better security and opportunities in cost reduction and obtaining increased revenues. Therefore, this paper proposes the blockchain as a decentralized cybersecurity framework by employing the Design Science Research (DSR) methodology for innovative information systems. This methodology employs a specific set of concepts and principles to develop IT based solutions. The proposed Threat and Vulnerability Blockchain (TVB) framework is suitable for encouraging mass security experts to discover new threats and vulnerabilities. This article also presents an overview of this technology for realization of security across distributed parties in an impregnable and transparent way. |
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Keywords |
Cybersecurity, Distributer Ledger Technology (DLT), Smart Contract, Blockchain, Privacy, Compliance, Decentralized Systems. |
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