Blockchain technology provides unprecedented security to sensitive data to
both businesses and individuals; it has become one of the most famous methods for
securing data through a decentralized system. Cybercrime is a serious threat to
enterprises as hackers are devising new techniques and implementing them to execute
cybercrime. Blockchain technology has the potential to give higher security, which has
no limit to keeping important and sensitive information and records. Blockchain is the
technology that could go a long way in fighting this and keeping digital information
safe and secured. Blockchain technology strengthens cyber security for different areas
of industries and plays a vital role in making data more secure with its decentralized
technology. Through this chapter, the authors will get to know how blockchain
technology helps in providing cyber security to the different sectors of industries with
its advantages and disadvantages of blockchain. The author also explores the role of
blockchain in cybersecurity and the future benefits of blockchain technology to
strengthen cybersecurity.
Keywords: Bitcoin, Blockchain, Blockchain in industries, Challenges with Blockchain, Crypto currencies, Cyber-attack, Cyber security, Data security, Decentralized, Internet of things (IoT).
