Brazil is one of the most vulnerable countries to hacker attacks: the importance of blockchain security!

Por Cassio J. Krupinsk
Em 02/11/2023

Hacker attacks are the biggest nightmare for companies around the world, a reason for (bi)million-dollar financial losses, as well as high stakes in data security. In the tokenization of assets, the great solution may be: blockchain.

The data on virtual attacks in Brazil is alarming: we are the 2nd most vulnerable country to these threats, according to data from a report by Trend Micro, a global cybersecurity company.

This is a worrying reality as business and government operations and social relations increasingly depend on the digital environment – a path fortunately of no return in terms of practicality, but which requires increased vigilance.

The sophistication of cyberattacks is increasing and can result in the bankruptcy of a company in just a few minutes. But is blockchain, which protects cryptocurrency ecosystems so well, capable of improving information security?

BLOCKBR, a company that develops tokenization infrastructure, will show how the blockchain network provides security that can save businesses and assets!

THE WORRYING CYBERSECURITY SCENARIO IN THE WORLD AND IN BRAZIL

According to the Trend Micro report, with data from the 1st half of 2023, we are behind only the USA in the digital vulnerability ranking. Notably, we have excellent digital indicators but which end up supporting the negative ranking.

5th country with the most internet users in the world
2nd country in daily internet usage time;
8th best internet in the world.

The solutions involve two well-known measures:

Reinforce responsible user behavior with virtual threats that arrive through suspicious emails and programs;
Adopt more robust, multi-layered security solutions to increase the detection of suspicious behavior and promote quick responses when there are digital intrusions.

However, experts point out that the ideal solution involves more complex data architectures, which prevent invasion and not just detect and execute a counterattack and which depend less on people’s actions.

Blockchain architecture is seen as the best alternative.

HOW BLOCKCHAIN IS CAPABLE OF ACT AGAINST HACKER ATTACKS

Blockchain technology is recognized worldwide for the series of mechanisms that protect it against hacker attacks and make cryptocurrency trading and asset tokenization safer. Let’s talk about some of these features.

DECENTRALIZATION AND DISTRIBUTED DATABASE

This is one of the foundations of blockchain and why it has become one of the most important technological transformations of the 21st century.

Decentralization is the premise that defines that there is no central server to store and control access to data, as happens in all public and private organizations.

In fact, the database is distributed: each supercomputer on the network has a version of the information exactly the same as the others. This way and with distributed consensus, it is impossible to break into the blockchain and steal assets or defraud data.

This information governance model is being replicated in markets where data security is an especially sensitive item, such as financial institutions.

DISTRIBUTED CONSENSUS

The distributed consensus protocol is the mechanism through which each cryptographic transaction is authorized only by the unanimous consent of the computers on the network. If one of the points has been attacked and contains fraudulent data, the movement is rejected.

Consensus is achieved through algorithms such as PoW (proof of work) and PoS (proof of stake) and its combination with the distributed database makes digital attacks extremely difficult, expensive and time-consuming.

DATA IMMUTABILITY

An approved transaction (always unanimously) is recorded in a data block which, in turn, is added to a chain of blocks (the blockchain) with a unique identification and formed in part by the identification of the previous block.

This ingenuity makes the data contained in each block immutable. To modify a block, it will be necessary to modify all subsequent blocks in the chain, which requires an astronomical amount of computational power and, even so, would be detected by the network with consensus.

SMART CONTRACTS

The smart contract is a self-executing program that runs uninterruptedly on the network with all the conditions defined for a given project and executes all the tasks foreseen for each condition.

As an example, in a receivables tokenization, the smart contract:

Manages the sale of tokens – receiving value, transferring digital assets and updating balances in digital wallets;
Controls the requirements to participate in the network and make offers;
It remunerates investors at a defined frequency and based on the events that trigger payments – for example, a specific monthly date.

The operation of the smart contract is 100% electronic and, combined with the immutability of data, we have an environment in which data cannot be altered or interrupted by third parties.

BLOCKCHAIN IS IMPACTING THE SECURITY OF ECONOMIES!

The popularization of tokenization not only promotes a revolution in the way of trading, but also attracts attention to the sophistication of blockchain in data security.

Fundamental sectors of the economy, such as banking, agribusiness and mining, are already studying how to adopt the blockchain network for hosting and managing chains of processes and systems and achieving a level of security similar to that used to tokenize assets.

A differentiator is the quality of the tokenization infrastructure offered by the tokenizing company. BLOCKBR provides an infrastructure with different premises in complete synergy.

The tokenization environment operates 24 hours a day and every day of the year;
Data is absolutely safe against virtual attacks and fraud attempts;
Transactions must be clear and accessible to all users;
Tokenization complies with required regulations and guarantees legal security.

TOKENIZE YOUR ASSETS AND PROCESSES WITH BLOCKBR!

Tokenization is a reality that is becoming present in all segments and business models, it is not something so innovative that it should still be seen with suspicion. Companies and individuals are currently monetizing tokens.

Recent actions by BACEN and CVM signal that tokenization is legal and the digital real will be a great divisor to increase the credibility of technology for those who want to invest in digital assets.

Offering your business token is simpler than you might think. Do you want to see the competition come out ahead?

Come and talk to BLOCKBR.

We have the best token offering strategy on the market!

INVEST AND EARN MORE WITH TOKENS ON BLOCKBR!

Buying a token is simple if you have a partnership that makes everything simple like BLOCKBR! We are an experienced asset tokenization company qualified to guide you on how to apply business tokens safely and with great results.

Open an account on our token marketplace and in minutes you will have access to a diverse universe of offers for all investor and budget profiles. Additionally, you can start investing in tokens from 50 reais!

Come to BLOCKBR, boost your results and get closer to your dreams!

BLOCKBR Digital Assets is a fintech specialized in tokenization of assets and investments that delivers infrastructure to the regulated and non-regulated market through an All-In-One platform that offers the transformation and interoperability between assets and investors.

For more information, visit: http://www.blockbr.com.br or @blockbr_ on social networks