As the blockchain industry continues to expand, the importance of cybersecurity has become increasingly vital. Steve Bassi, the CEO of PolySwarm, argues that leveraging blockchain technology for cybersecurity is necessary in this environment.
Bassi acknowledges that awareness of blockchain technology and security has grown significantly in recent years, but the use of blockchain in cybersecurity is still in its early stages. He notes that while cybersecurity projects are exploring potential applications for blockchain, PolySwarm has already created a project that utilizes the technology to enhance security. The company rewards users for providing data on malware, similar to how the Brave browser incentivizes users.
Bassi emphasizes that PolySwarm’s approach is different from that of Web2 companies like Google and Facebook, which gather data for advertising purposes. PolySwarm is primarily focused on security rather than advertising.
In a separate development, Octagon Networks, a cybersecurity firm, recently converted its balance sheet into Bitcoin (BTC) and started accepting it as payment for all of its services. Customers who pay with Bitcoin receive a 50% discount.
The Atlantic Council, a think tank based in the United States, also released a report on the cybersecurity of central bank digital currencies (CBDCs). The report highlights certain risks associated with CBDCs, including privacy concerns and regulatory oversight.