CryptoAcademy Week 6-HOMEWORK POST FOR@gbenga [ Nigeria

THE SECURITY BENEFITS OF APPLYING BLOCKCHAIN WITHIN ANY INDUSTRY AND THE ON THE INDUSTRY

Blockchain make it possible to securely mark and to a degree verify subjects and objects with properties that can be cryptographically verified. This helps machines take decisive actions such as: classification level,access category and many more . This ensure that multi level security (MLS) platforms can perform mandatory and discriminatory MLS tasks.
They can also audit policies that allow for the sharing of information which can in turn be stored and subsequently accessed by authorised parties.Moreover with the adoption of cloud computing by most business and the reality that the information stored could be tapped by multi Nationals and in so doing user privacy violated,this is because person important information PII can be stored with other classes of data as they are unclassified, this lapse in security is further laid bare as the different security platforms work with other connected systems and not in isolation, and so a data breach at one end affects security at the other systems.
This dilemma is however solved by the BLOCKCHAIN self sovereign identity (SSI) in conjunction with W3C variable credentials which delivers an open, govenable and independent means of issuing, holding and verifying trusted security labels. The BLOCKCHAIN labels can be used by both MLS and non MLS platforms for authentication and authorisation thereby reducing risk exposure.
A BLOCKCHAIN distributed ledger binds the digital identity of all person and non person entities NPEs to their private and public keys and afterwards distributes them throughout the entire network, avoiding the use of third party certificate authorities. This keys are in turn assigned varying security feature and access information which in terms of transaction the holder submits to the servers who in turn link this to various MLS platforms for verification. The diagram below further illustrates the point.

The benefits of blockchain security and W3C variables is in that they provide a portable security platforms and lowers cost and enhance data share ability, subsequently enhancing flexibility and limiting security attached to hackers by limiting the need for third parties and deleting the chance of data being intercepted.

Picture and diagram Courtney:
‎@IBMBlockchain