Blockchain’s Role In Global Cybersecurity And US-China Trade War

Blockchain, Opinion | July 19, 2018 By:

The amount of IoT devices around the world have increased exponentially, and data breaches are on the rise as a result, with hackers taking advantage and looking to gain entry into networks through these “back doors.” This trend, combined with rising concerns regarding data integrity, are setting the agenda for developments with regards to global cybersecurity. Particularly with the rising tension between the US and China, there is tremendous danger posed to the state of our global cybersecurity.

With ongoing talks of a potential trade war, there has been a palpable tension between the US and China (and companies within each country), raising significant concerns, particularly regarding how those participants within the cyberspace will conduct themselves. As both nations continue to thrive, they will seek to protect the information with regards to cybersecurity. The increased tension between the US and China has potential to produce effects in the global cybersecurity space, such as by creating greater focus on external threats as ATPs (Advanced Threat Protections).

The tensions may also increase the number of incidents related to external threats; however, we have yet to see any statistics regarding this. Furthermore, internal threats, such as former employees, remain the primary source of incidents, and these threats will likely be unaffected by the increasing international political tensions between the two nations.

The Common Ground Between the US and China

Businesses have an opportunity to use blockchain technology as a tool to combat the increasing risks to cybersecurity and information integrity. Blockchain technology creates verifiable hashes of stored data in a distributed ledger and also creates records that are immutable and cannot be tampered with. The technology is rapidly emerging in both the US and China and will proceed to develop in the future due to the inherent increased security offered by blockchain technology.

Staying Ahead When it Comes To Data Security

The use of blockchain technology to defend against increasing threats towards the integrity of data, as well as the availability of information, is a matter that China has been concentrated on recently. In that regard, we can say that China is presently more forward-thinking with regards to data security and blockchain technology.

However, it is not easy to stay ahead of the game, as the landscape of data security and IoT continues to rapidly transform and develop. Unless the focus remains on emerging and innovative branches of technology which are performing cutting edge research, it is very possible to fall behind. We have seen a lot more of this research from leading universities at a global level; however, this is without a doubt an area of focus within China. Smart cities and emerging IoT technology is not only growing in China — we can see such projects emerging within the US as well. Therefore, it is vital to avoid taking for granted the progress with these developments from either nation.

Despite the increased focus on tensions between the US and China, companies between the two major superpowers will continue to thrive and develop technology. The innovative businesses within both nations continue finding methods to create value, progress their business, and develop cooperations every day. It is important to remember that the global scene of trade feuds and international cybersecurity does not always portray the goals, intentions and possibilities for the underlying businesses.