#encrypted data

Apple is engaged in a high-stakes legal battle against the British government following a secret order issued by the Home Office demanding access to encrypted user data stored on iCloud. The tech giant has refused to comply, instead filing a challenge with the Investigatory Powers Tribunal, sparking one of the most significant privacy disputes in recent years. At the centre of the clash is…

Blockchain technology is all the rage these days. Business owners are going to start hearing this buzzword as a bullet point in software solutions. Developers from all over the world are trying to harness the power of encrypted, distributed data, mainly due to the reputation that blockchain has regarding the “unhackable” permanence of the data stored upon it. However, it as powerful as blockchain is purported to be, it isn’t totally infallible.

How Blockchain Has Been Shown to Be Vulnerable

Let’s face it… blockchain technology is a human invention, which means that there are going to be some flaws.

  Admittedly, the concept behind the blockchain makes this hard to believe: every transaction made through the blockchain, financial or data-based, is given a permanent, designated “block” in the chain. Before the transaction is completed, the rest of the network needs to approve this new block’s validity. The block is then added to the chain, where it cannot be altered and provides an unchangeable record of the transaction – to undo it, a new block would be created. It is only then that the transaction is completed.

  While this method may seem foolproof, even “unhackable”, this just isn’t the case. In March of 2014, cybercriminals managed to steal $450,000,000 worth of Bitcoin through a transaction mutability vulnerability, and in June of 2016, cybercriminals managed to steal approximately $60,000,000 by leveraging a recursive calling vulnerability.

Additional Blockchain Vulnerabilities

Again, as a human creation, there are going to be some flaws in blockchain platforms. One investigation revealed that some blockchain and cryptocurrency platforms had over 40 vulnerabilities.

51% Vulnerabilities

Many of blockchain’s vulnerabilities have more to do with the nature of the platform as well. One such vulnerability is known as a 51% vulnerability, and is associated with mining cryptocurrencies. Let’s assume you are a cryptocurrency miner. If you manage to accumulate hashing power that exceeds more than half of what the blockchain contains, you could leverage a 51% attack to manipulate the blockchain to your own advantage.

  Naturally, more popular blockchains, like Bitcoin, are far too expensive to be practical targets, but smaller coins are much more affordable to attack and can be lucrative for hackers. In 2018, 51% attacks were leveraged against less popular cryptocurrencies, netting the attackers approximately $20 million.

Security of Private Keys

Using a blockchain requires a user to have a private key. Naturally, if this key were to be stolen, those cybercriminals who stole it would be able to access and tamper with that user’s blockchain. What’s worse, because the blockchain is decentralized, these kinds of actions are difficult to track and even harder to undo.

Breach Examples

As you might imagine, most breaches involving a blockchain are in some way tied to an end user. In 2017, a fraudulent cryptocurrency wallet service was left up for months as the cybercriminal responsible allowed people to funnel their cryptocurrencies into it before stealing $4,000,000 – out of a reported total of $2 billion being stolen since 2017 began. In January 2018, it was disclosed that hackers stole private keys with malware, taking over $500,000,000 in NEM coins (a now-effectively-worthless cryptocurrency established by a nonprofit).

  If hackers are able to steal from a purportedly “unhackable” technology, what’s to stop them from stealing from your business?

  Cybersecurity solutions from Infradapt, that’s what. We can set up the security solutions your business needs to protect its data, and monitor your systems to detect breaches preemptively, preventing a security issue from happening. To learn more about what we can do, reach out to us at 800.394.2301.

It’s always a struggle for parents to know which countries are safest for their children. Not only this, but it’s a struggle when choosing the right child-friendly companies to book flights with. TravelBlock ensures your family’s safety by using enhanced security when selecting and vetting holiday vendors, and to protect your personal information.

The Safest Countries: from Iceland to New Zealand with Travel Block

If you’re thinking about booking a vacation soon, you should consider some of the following countries. Iceland, Switzerland, and New Zealand are considered among the safest and they get even safer for holiday goers with the stringent TravelBlock vetting process.

Iceland is a travel destination that’s desired by many because of its many tourist attractions. The country ranked highly on the World Peace Index and the World Economic Forum. For an 11th consecutive year, the tiny northern European nation of Iceland was ranked as the world's safest place. Home to around 300,000 people, Iceland's crime rate is minuscule, with just 1.8 murders per 100,000 people annually. That's around one-third the murder rate in the USA.

When you go with TravelBlock, you don’t have to deal with any third-party intermediaries, making travelling to world renowned destinations like Iceland much easier than with other holiday agencies.

Both Switzerland and New Zealand have ranked on the Global Peace Index. At these destinations, you can visit sets from popular movies like Moana and Lord of the Rings. Switzerland and New Zealand are highly in-demand travel destinations, which can cause overbooking with other agencies. TravelBlock prevents this by having members purchase from affiliates directly.

How Does TravelBlock Make Your Vacation Safer?

Travelling can prove unsafe when a traveller’s personal information is sold or when third-parties are used to purchase tickets and inventory. TravelBlock isn’t a mediator, which means members get their tickets right from the source! In doing so, TravelBlock limits exposure to security risks like hackers.

TravelBlock is a one-stop-shop; therefore, you don’t have as many variables to depend on. The online platform scheduler tells you where you need to be and when so you don’t have to figure out the details: just relax and enjoy your holiday!

TravelBlock uses blockchain to securely report various logs, like your travel flights. With their platform, your information is encrypted to ensure that your information remains safe. This ecosystem prevents scammers and hackers from being able to access your files and credit card information.

Not only this, but TravelBlock uses a Closed Consumer Group to prevent information from becoming public and to keep prices and discounts between members.

The combination of these security measures and security clearance ensures that any vacation is safe for your family. During busy holidays, you don’t have to worry about overbooked flights or hotels. Simply book and you’re good to go!

Finally, we can say this, traveling is the best way to add culture into your life and the lives of your family and taking this to heart, Travelblock ensures your safety through their strict vetting process which takes into consideration all data available on your choice destinations, with the World Peace Index and the Global Peace Index among their resources.

TravelBlock partners with the best in the industry to ensure that there are no trip delays and that you all stay at a venue which meets their high standards. Learn more and get started by signing up here!