For supply chain issues such as hardware

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Security issues like data breaches and network compromises don’t just come from software vulnerabilities – they can also come from the supply chain. When human error comes into play, or when information or systems in the supply chain are manipulated by an insider, blockchain can solve the problem by automatically making any suspicious activity known to all participants in the system. When everyone knows who is doing what and when, security weaknesses, errors, and insider threats can be tracked down and safely addressed before they cause serious damage.

“If you look at other approaches, like when people collaborate on a database or a traditional election protocol, any participant in the process can change the data that’s being stored at any time,” Bien explained. “It’s clear that in applications like identity or supply chain monitoring, you don’t want a consumer of the data or someone who has compromised a participant in the system to be able to change all the information in the ledger.”

The Smart Contracts algorithm also plays an luxembourg mobile database role. These small pieces of code are stored on each node in the blockchain network and determine which actions are allowed to be executed. When computers are connected to the blockchain, these actions must lead to a strictly defined result. Since all participants can be sure of the events that occur, their initiators, and the logic associated with these events, this creates increased trust in the contract and the systems, as well as in the correctness of the results.

Software components and identification solutions, blockchain platforms appear to be promising,” Bien said.

Blockchain technology itself offers little in terms of threat detection or protection in terms of traditional cybersecurity solutions, but it does provide an infrastructure for transparency, event tracking, cryptography, and the ability to improve security controls and data sharing—something that is lacking in many security solutions and their implementations in corporate networks.