Cybercrime is estimated to cost the world more than $10 trillion annually by 2025. If measured as the GDP of a country, that would represent the third biggest economy in the world after the U.S. and China.
That shows that not only should governmental institutions and banks invest in cybersecurity but private corporations as well. In fact, giants like US Bank, JPMorgan Chase, Bank of America and IBM are some of the early adopters of blockchain technology.
With the technological advancement of cybercrime, cybersecurity must take a step forward. With the implementation of private blockchain OS, cybersecurity reaches a whole new level.
Fortune 500 Blockchain Plans
According to a survey of top fintech and tech companies by Synechron, 94% of companies had plans related to blockchain initiatives in the near future. Some of the world's largest companies are beginning to realize the potential that blockchain can bring.
Samsung implemented blockchain security for the virtual assets of its users. It came up with a series of apps that allows users to store information safely, including crypto addresses and amounts. In addition, Private Share brings encrypted chatting capabilities to the table.
In 2019, Google partnered with Chainlink to create a blockchain project that entailed processing future contracts at a safer level, including enhancing the privacy of transactions.
Of course, there are those that failed. In 2019, for example, Facebook (now Meta) had an idea to air its own cryptocurrency called Libra. It had originally gained the support of financial partners like Visa, PayPal, eBay, Stripe and MasterCard. However, regulators questioned the plan, and it ended up falling through.
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/07/18/how-blockchain-brought-solid-level-security-to-fortune-500-companies/?sh=14cb3c932df7
That shows that not only should governmental institutions and banks invest in cybersecurity but private corporations as well. In fact, giants like US Bank, JPMorgan Chase, Bank of America and IBM are some of the early adopters of blockchain technology.
With the technological advancement of cybercrime, cybersecurity must take a step forward. With the implementation of private blockchain OS, cybersecurity reaches a whole new level.
Fortune 500 Blockchain Plans
According to a survey of top fintech and tech companies by Synechron, 94% of companies had plans related to blockchain initiatives in the near future. Some of the world's largest companies are beginning to realize the potential that blockchain can bring.
Samsung implemented blockchain security for the virtual assets of its users. It came up with a series of apps that allows users to store information safely, including crypto addresses and amounts. In addition, Private Share brings encrypted chatting capabilities to the table.
In 2019, Google partnered with Chainlink to create a blockchain project that entailed processing future contracts at a safer level, including enhancing the privacy of transactions.
Of course, there are those that failed. In 2019, for example, Facebook (now Meta) had an idea to air its own cryptocurrency called Libra. It had originally gained the support of financial partners like Visa, PayPal, eBay, Stripe and MasterCard. However, regulators questioned the plan, and it ended up falling through.
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/07/18/how-blockchain-brought-solid-level-security-to-fortune-500-companies/?sh=14cb3c932df7
