Why should we supplement security infrastructure of cryptocurrencies?

Banking CIO Outlook | Friday, November 30, 2018

Over the last two years, cryptocurrencies have proliferated at skyrocketing speeds, and incidentally, the security network in place has become a real concern for the finance sector. As the market capitalization of cryptocurrencies has achieved staggering numbers, various financial institutions seek to deploy blockchain use cases. Henceforth, several companies have come up with solutions to supplement the existing security infrastructure for cryptocurrencies applications. For example, Gemalto, one of the prominent digital security companies has inked a partnership with Ledger to render highly secured infrastructure for crypto assets. The co-work will enable finance institution to leverage cryptocurrency while keeping them in a secured network.

Furthermore, customers can modify their account based digital structure for bolstering the existing security requirements for these transactions. Also, embedding a robust security infrastructure with a decentralized system for IoT network can play a pivotal role in creating a more potent and private protected IoT system.

Once finance institutions start delivering more secure networks for communication, devices, and users, blockchain can be used more by parties who don’t have an existing relationship to do business efficiently and transparently.

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