Blockchain can help eliminate cybercrime threats

Cybercrime is a growing scourge that shows no signs of slowing down anytime soon without a serious game changer to stem the tide.

Cybercrime losses reach new highs every year, and some experts think that while blockchain technology might not be the silver bullet that could stop it, mainstream adoption could definitely help. 

Cybercrime can take many forms, including ransomware attacks, identity fraud, data theft and phishing campaigns. According to cybersecurity research firm Cybersecurity Ventures, cybercrime losses around the world are estimated to reach $10.5 trillion annually by 2025.

The first decentralized blockchain, Bitcoin (BTC), was launched in January 2009 along with its associated cryptocurrency. Security features such as cryptography, decentralization and consensus are built into the tech.

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