Blockchain's roles in strengthening cybersecurity and protecting privacy

By Nir Kshetri. 2017

692 citations recorded by the source corpus.

Abstract This paper evaluates blockchain's roles in strengthening cybersecurity and protecting privacy. Since most of the data is currently stored in cloud data centers, it also compares how blockchain performs vis-vis the cloud in various aspects of security and privacy. Key underlying mechanisms related to the blockchain's impacts on the Internet of Things (IoT) security are also covered. From the security and privacy considerations, it highlights how blockchain-based solutions could possibly be, in many aspects, superior to the current IoT ecosystem, which mainly relies on centralized cloud servers through service providers. Using practical applications and real-world examples, the paper argues that blockchain's decentralized feature is likely to result in a low susceptibility to manipulation and forgery by malicious participants. Special consideration is also given to how blockchain-based identity and access management systems can address some of the key challenges associated with IoT security. The paper provides a detailed analysis and description of blockchain's roles in tracking the sources of insecurity in supply chains related to IoT devices. The paper also delves into how blockchain can make it possible to contain an IoT security breach in a targeted way after it is discovered. It discusses and evaluates initiatives of organizations, inter-organizational networks and industries on this front. A number of policy implications are discussed. First, in order to strengthen IoT, regulators can make it obligatory for firms to deploy blockchain in supply chain, especially in systems that are mission critical, and have substantial national security and economic benefits. Second, public policy efforts directed at protecting privacy using blockchain should focus on providing training to key stakeholders and increasing investment in this technology. Third, one way to enrich the blockchain ecosystem would be to turn attention to public–private partnerships. Finally, national governments should provide legal clarity and more information for parties to engage in smart contracts that are enforceable.

Subfields: Computer Networks and Communications, Information Systems, Management Information Systems

View Paper: https://www.semanticscholar.org/paper/7f1c3c97a639a93796e935add3665c3ef329c0c8

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In Management Information Systems

Citations in the corpus

Blockchain technology in supply chain operations: Applications, challenges and research opportunities (2020, positive): “Blockchain is much more secure than traditional IoT systems or traditional security services due to its capabilities of enhanced cybersecurity and better performance (Kshetri, 2017a).”
A supply chain transparency and sustainability technology appraisal model for blockchain technology (2019, background): “The main applications of blockchain technologies in SCM include supply-chain traceability (Kshetri 2017; Lu and Xu 2017), intelligent transportation systems (Lei et al. 2017), avoiding fake or shoddy products and unethical behaviour (Mackey and Nayyar 2017; Montecchi, Plangger, and Etter 2019),…”
Blockchain adoption in operations and supply chain management: empirical evidence from an emerging economy (2020, background): “If combined with IoT, BCT can strengthen cybersecurity and therefore improve privacy (Kshetri 2017).”
A Review on the Use of Blockchain for the Internet of Things (2018, background): “smart living applications [56], intelligent transportation systems [57], wearables [58], supply chain management [59], mobile crowd sensing [60], cyber law [61] and security in mission-critical scenarios [62].”
Blockchain applications in supply chains, transport and logistics: a systematic review of the literature (2019, methodology): “…the highest number of publications were Angappa Gunasekaran (Kamble, Gunasekaran, and Arha 2018; Gunasekaran et al. 2018), Joseph Sarkis (Kouhizadeh and Sarkis 2018; Saberi et al. 2019), Mahtab Kouhizadeh (Kouhizadeh and Sarkis 2018; Saberi et al. 2019) and Nil Kshetri (Kshetri 2018, 2017b, 2017a).”
A systematic literature review of blockchain-based applications: Current status, classification and open issues (2019, neutral): “Blockchain technology is expected to increase transparency and accountability in supply chain networks, thus enabling more flexible value chains (Ahram et al., 2017; Kshetri, 2017; Kshetri, 2018; O’Leary, 2017).”
Bitcoin, Blockchain and Fintech: a systematic review and case studies in the supply chain (2019, neutral): “…2017; Kshetri 2017 ; Khan and Salah 2017; Underwood 2016; Alcazar 2017; Sklaroff 2017; Mik 2017) 15 45.45 Privacy (Wolfond 2017; Dandapani 2017; Kshetri 2017; Khan and Salah 2017; Alcazar 2017; Bailis et al. 2017; Tapscott and Tapscott 2017a) 7 21.21 Decentralization and…”
Blockchain Technologies for the Internet of Things: Research Issues and Challenges (2018, background): “Energy (IoE) [18], [20]–[22], and security in mission critical systems [23].”