Cybersecurity is an area where blockchain needs to be implemented in-terms to secure the data. This is currently being done by Israel Securities Authority as they are using blockchain to enhance cybersecurity.
According to timesofisrael, Israel Securities Authority (ISA) has launched a blockchain based messaging platform known as ‘Yael’. This platform is used to send messages and information securely without data breach.
This platform has been developed by Taldor an IT firm. The blockchain technology has been used by various firms to secure the clients and transactions. And ISA said they will add blockchain to two other systems in the future like the Online Voting System and Magna, to collect all reports by the organizations under the ISA.
“Implementing blockchain technology in the ISA’s information systems makes it one of the global leading authorities in securing the information provided to the public and its credibility, and one of the leaders in Israel’s public sector.” said Natan Hershkovitz, director of the ISA’s Information Systems Department.
Hershkovitz also talks of the growing trend of the financial sector in the world with the use of the blockchain technology. This shows that the ISA is in support of the blockchain technology.
Last time we had noticed, The Cryptocurrency exchanges were banned by the Israel banks, and The Supreme Court of Israel took a decision on behalf of cryptocurrency exchanges. The decision was for banks to allow trades by cryptocurrency exchanges. This brought a traction and many cryptocurrency and blockchain startups are rising in Israel.
As the blockchain technology is being used in the cybersecurity it also adds another layer of security on the information sent. This will protect the information from being tampered or being removed. Thus this move by ISA to use blockchain technology might actually support them in terms of keeping the information secure.