As the blockchain space expands, cybersecurity becomes a more crucial requirement for many. Therefore, the CEO of PolySwarm, Steve Bassi, argued that it is necessary to take advantage of Blockchain technology for cybersecurity.
Bassi told Cointelegraph that while awareness of Blockchain technology and security is on the rise, the use of blockchain within cybersecurity is still in its infancy. “Cybersecurity and cryptocurrency awareness, especially in the last five years, has increased more than at any time in my security career,” said.
Despite the increased awareness, the CEO noted that cybersecurity projects are still trying to find blockchain applications in the space. Due to the gaps in the market, Bassi noted that they created a project to use blockchain to improve security. They do this by rewarding users as they provide data about the malware. The executive said:
“Collecting comprehensive data on malware infrastructure shortens the lifespan of major malware campaigns and ultimately keeps PolySwarm customers and the Internet in general safer.”
Inspired by the Brave Browser Success, Bassi explained that today antivirus companies are already collecting what he describes as “ultra-valuable malware infrastructure,” but they don’t compensate users for providing the data.
Asked about the controversies that have caused people to worry about data collection by Web 2.0 companies like Google and Facebook, Bassi assured users that Web 3.0 is different. According to the CEO, they focus more on security than advertising
In June, a cybersecurity firm jumped on the Bitcoin (BTC) bandwagon by converting its cash reserves into BTC. the group too started accepting BTC for all its services, offering a 50% discount to those who pay in BTC.
that same month, Atlantic Council, A US-based think tank published a report on the cybersecurity of central bank digital currencies (CBDCs). The think tank identified the risks of CBDCs, including privacy and regulatory oversight.
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