Blockchain Security

One of the negatives of digital transformation has been the growth in personal data theft. Government databases are a target of cyber hackers. Database hacks have exposed names, Social Security numbers, birthdates, addresses, and driver’s license numbers of millions of Americans, such as the 2017 Equifax database breach. Booz Allen Hamilton wrote that blockchain data structures harden network security by reducing single-point-of-failure risk, making a database breach difficult.

The Department of Homeland Security is researching blockchain approaches to data security, such as managing online identity and internet access. McKinsey said the technology could store hash values of citizen documents on the blockchain, allowing governments to provide a verifiable electronic version of these documents when needed.