Security is a big attraction of blockchain technology and outside of cryptocurrency, industries are evaluating how they can benefit from the security that blockchain promises. Energy security is ripe for disruption because until now it has been incredibly susceptible to hacks.
In a survey conducted by TripWire last year, almost 80% of respondents from the oil and gas industry acknowledged an increase in the number of successful cyber-attacks their own organizations had experienced over 2015.
…More importantly, perhaps, in the very near future blockchain technology will also alter the protection of critical energy infrastructure against cyber threats.
Blockchains will not only eliminate code injection attacks, but also help provide tamper-proof computer systems for running all kinds of critical energy infrastructure, including nuclear power plants or oil refineries. Traditional malware attacks against industrial control systems might be rendered obsolete.
As big legacy industries increase interest in blockchain, we’ll likely be seeing the technology mature quickly with the influx of investment in it. This bodes well both for sectors like energy and finance, and the early adopters of blockchain who will be able to benefit from resources and innovations that they otherwise would not have had access to.
Over 60 events are continually being added to the 2017 VENN calendar. For updates on our in-person and web-based events where IT professionals gather to discuss their technology futures around various topics including possible adoption of blockchain, sign up Here