Decentralized Systems and Distributed Computing

9Blockchain in Data Security and Transparency in Business Transactions

Rajat Verma^1* and Namrata Dhanda²

¹Department of Computer Science and Engineering, Pranveer Singh Institute of Technology, Kanpur, Uttar Pradesh, India

²Department of Computer Science and Engineering, Amity University Uttar Pradesh, Lucknow Campus, India

Abstract

The primary motivation for an organization to succeed is the integrity of its data, transactions, and operations. Data, operations, and transactions have proven to be the most essential assets for any organization to grow and evolve. These assets are required to be protected and to be kept safe. The traditional methods that are already available for securing the assets are not performing well enough in tackling the latest cybersecurity attacks as the conventional methods of security are somehow responsible for weakening the standards of security. On the opposite side, cyberattacks are also evolving at a tremendous pace. The evolved cyberattacks and cyberattackers have found a variety of loopholes in traditional security techniques. They can harm the diverse aspects of cybersecurity by identifying loopholes. Therefore, there is a necessity for some modern and SMART approaches and methods for improving the dependability, security, and other essential aspects of data, operations, and transactions in an organization. The SMART keyword indicates characteristics such as Specific, Measurable, Achievable, Realistic, and Timely. Here, blockchain comes into ...