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The Blockchain Alleviates Growing Database Security Concerns

Last Updated March 4, 2021 4:48 PM
Justin OConnell
Last Updated March 4, 2021 4:48 PM

Osterman Research recently completed what it calls a “first-of-its-kind” database security industry report. According to the study, just 19 percent of organizations enjoy “excellent” visibility into data and database assets. As Osterman states, “this level of visibility is necessary to rapidly identify a data breach.” 47 percent of those surveyed do not have a team or individual to monitor their database security.

Called “Identifying Critical Gaps in Database Security,” research for the report was conducted from February until April to figure out how well organizations were prepared  to address the security of critical data assets and databases.

209 qualified respondents took part in the survey, whose organizations had to have at least 300 employees.

“This study reveals there’s a clear shift beginning to occur in information security away from total reliance on perimeter security toward a greater emphasis on database security,” stated Michael Osterman, president of Osterman Research, in a press release. “Identifying compromised database credentials and insider threats will likely receive far more investment in the future. And, the actual rate of successful infiltrations or other leakage events is likely greater than discussed in this report due to inadequate organizational systems for tracking successful threats.”

59% of respondents highlighted their uncertainty about what is able to access their databases.  50% worried about compromised credentials, a concern followed in frequency by a major data breach and the inability to identify such a breach. 39% of the organizations believe they do not have the necessary tools to identify databases breaches due to compromised credentials.

21 percent of respondents said they can uncover such a data breach immediately. 15 percent responded they did not know how long it would take them to discover such a breach. 38 percent said they do not have the proper mechanisms to identify such a breach. 20 percent conduct database activity assessments on a continuous basis. 6 percent never conduct such assessments, and the rest do so rarely.

“We’ve long suspected organizations lack the necessary tools and staff for proper database security,” said Brett Helm, Chairman and CEO of DB Networks. “This study finally revealed why organizations’ data has become so vulnerable to attack. Simply assigning responsibility for database security and equipping them with continuous and real-time visibility into their databases would be an important first step for any organization.”

These problems have led to a new kind of database startup. These startups, who champion the blockchain as the future of data integrity, lead the startup space in VC financing. Their projects, according to founders and proponents, will leave no human institution untouched.

The blockchain, a distributed transaction database, can be applied to more than bitcoin. Ethereum has proven that as a way in which developers can create distributed applications without a central institution controlling it.

Miners, who use the powerful computational processing power of the Bitcoin network by solving mathematical problems for security and to create Bitcoins, produce blocks which represent a long line of data records in the form of time-stamped transactions. Hashes are used to tie the series of blocks together. Each miner has a copy of the transactions log, called the public ledger.

Although storing data, other than transactions data, usually requires some hacking on the Bitcoin blockchain, the vision of a blockchained future is being explored by the world’s largest technology firms, who, for now, have an eye on revolutionizing the financial institution, making it more efficient and convenient.

Featured image from Shutterstock.