Security on the blockchain

Blockchain concept

Some of you might think, “OK, fine, blockchain is a high technology that will positively change the world.” But, the question remains, “Is it secured?” The short answer is yes. But first, let’s think about what the system has currently achieved. The reality is that anything can be hacked and compromised that is connected to the Internet, or connected to a system that has the connection to the web.

Connected device

Many devices do not use any connection and still can be broken into once you have physical access to it. Such might be a laptop or desktop computer that can be broken into using a Linux cd, and booted using that. If you want to go further, let’s take banks, for example. They are getting compromised all the time; of course, they have stopped announcing these types of incidents, as they would have no customers left if they would carry on doing so.

The director of the FBI was hacked by a teenager in the end of 2015, and most people think it’s funny. Still, when you think about the security within the FBI, it is very well organized, yet still hackable. The FBI might not be the best example to mention, as even Kevin Mitnick hacked the FBI for three long years, and listened to the agents’ phone conversations, talking about himself.

Concluding remark

The result would be dramatic, and they always are, but most of the great financial institutions have stopped talking to news channels about being compromised by hackers, as it would only damage their image, and it would become an embarrassment.