Challenges in security and privacy posed by blockchain technology

Tahira Tariq; Faiza Javaid; Syed Rizwan; Muhammad Zubair; Benish Fayyaz

doi:10.31645/JISRC.22.20.2.1

Author(s)

Tahira Tariq Department of Computer Science, Iqra University North Campus,Karachi,Pakistan

Faiza Javaid Department of Computer Science, Iqra University North Campus,Karachi,Pakistan

Syed Rizwan Department of Computer Science, Iqra University North Campus,Karachi,Pakistan

Muhammad Zubair Department of Computer Science, Iqra University North Campus,Karachi,Pakistan

Benish Fayyaz Department of Computer Science, University of Malaga,Málaga,Spain

Abstract

The advancement of information technology may greatly benefit from the use of blockchain technology. Blockchain technology presents a promising future for protecting personal data. However, it does pose challenges concerning data security and risk that need to be overcome. This paper focused on examining the challenges posed by blockchain technology in terms of security and risk relating to the aspect of privacy. Furthermore, the regulation of the protection of personal data posed by blockchain technology has been taken into consideration. We focus on presenting security enhancement methods that regulators can take into account when drafting regulations on personal data protection guidelines. We also concentrate on the current methods for blockchain privacy protection as well as the future areas for study. The security and privacy-related challenges derived from its progressive maturity, complexity, lack of standardization, and diversity of protocols are superimposed on the demands of a vibrant, competitive environment. It is difficult to align it with the GDPR concerning privacy. There is an urgent need to develop multidisciplinary teams that must ensure its participation from the beginning of the legal/regulatory area, cybersecurity, and company information systems.

Publication Details

Page(s) 1-9

DOI 10.31645/JISRC.22.20.2.1

Published Journal: Journal of Independent Studies and Research Computing, Volume: 20, Issue: 2, Year: 2022

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Keywords

Privacy, Security, Blockchain technology, Personal Data, Blockchain Dilemma