Data breaches are one of the major concerns of organisations these days. The technology advancement has increased the risk of data security, for instance, the increased IoT deployments in India has raised cyber attacks by 22 percent in 2019. Also, Indian organizations have lost about 12.8 crores on an average due to these data breaches within a year. Data breaches have turned out to be a serious problem to the organizations these days , but how can data be preserved in this technological era is a million-dollar question at present. But sadly, data breaches preventive measures are a way to less. To protect their data, individuals could set up stronger passwords, frequently track credit card statements, histories and so on. Thus, technology could be utilized to address this issue. Blockchain is an ideal technology that could enhance the security of the organizations.

Embracing blockchain enables organizations to create immutable, decentralized ledger which could drastically reduce the chances of data breaches.  In order to protect the data, organizations could use encryption. But, that just provides an extra layer of security to the system which is not reliable as compared to the security offered by the technologies. But, blockchain ensures extreme security since it offers a special feature known as Cryptography. In combination with decentralization, cryptography provides an additional layer of protection to the users. Furthermore, cryptography is an intricated algorithm, which replicates firewall for attacks, thus, aids in preventing various data breaches.

The data stored in the blockchain is hashed cryptographically; this process hides the original content of the data. Every block in the chain has a unique hash and contains the hash of the previous block. By interlinking, the hash addresses blockchain technology eliminates the possibility of manipulating or tampering of the data stored in the structure. To access the data stored in this structure a private key is provided, but transactions require public key thus, tightens the security. Also, hashing is very complicated which restricts data altering or reversing. Additionally, the private key holders are restricted to access the operations granted for public keys holders. Thus, makes the access permission much stricter.

With proper implementation of blockchain technology, the organizations could counter the data attacks. This technology could aid individuals to protect their personal data, and save the organizations from highly expensive cyberattacks.

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