As the blockchain space expands, cybersecurity becomes a more critical requirement for many. For this reason, PolySwarm CEO Steve Bassi argued that there is a need to leverage blockchain for cybersecurity.
Bassi told Cointelegraph that while awareness of blockchain technology and security is on the rise, the use of blockchain in cybersecurity is still in its infancy. “Awareness of cybersecurity and cryptography, especially over the past five years, has increased more than ever in my professional security career,” he said.
Despite the growing awareness, the CEO noted that cybersecurity projects are still trying to find blockchain applications in the space. Due to market gaps, Bassi noted that they created a project to use blockchain to improve security. They do this by rewarding users for providing malware data. The executive said:
“Collecting comprehensive malware infrastructure data shortens the lifespan of major malware campaigns and ultimately keeps PolySwarm customers and the Internet as a whole safe.”
Inspired by the Brave browser successBassi explained that today, antivirus vendors are already assembling what he describes as “extremely valuable malware infrastructure,” but are not paying users for providing the data.
Asked about the controversies that have raised people’s concerns about data collection by Web2 companies like Google and Facebook, Bassi assured users that Web3 is different. According to the CEO, they are more focused on security than advertising
Related: FBI, CISA Issue Alert Over North Korean Cyberattacks Against Crypto Targets
In June, a cybersecurity firm got into bitcoin (BTC) train by converting your balance sheet into BTC. The group too started accepting BTC for all its services, offering a 50% discount for those who pay in BTC.
In the same month, the Atlantic Council, a US-based think tank, published a report on the cybersecurity of central bank digital currency (CBDC). The think tank risks identified in CBDCs including confidentiality and regulatory oversight.