How Blockchain Brought Solid Level Security To Fortune 500 Companies

07/19/2022

Cybercrime is estimated to cost the world more than $10 trillion annually by 2025. If measured as the GDP of a country, that would represent the third biggest economy in the world after the U.S. and China. That shows that not only should governmental institutions and banks invest in cybersecurity but private corporations as well. In fact, giants like US Bank, JPMorgan Chase, Bank of America and IBM are some of the early adopters of blockchain technology. With the technological advancement of cybercrime, cybersecurity must take a step forward. With the implementation of private blockchain OS, cybersecurity reaches a whole new level. According to a survey of top fintech and tech companies by Synechron, 94% of companies had plans related to blockchain initiatives in the near future. Some of the world’s largest companies are beginning to realize the potential that blockchain can bring. Samsung implemented blockchain security for the virtual assets of its users. It came up with a series of apps that allows users to store information safely, including crypto addresses and amounts. In addition, Private Share brings encrypted chatting capabilities to the table.

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