Background of the Study
Cyberthreats are more likely to occur due to the rising use of digital technologies. Cyberthreats include anything from data theft and tampering to data erasure and other criminal activities. Individuals are concerned about the safety of their personal data in the digital economy because of this. Blockchain technology, on the other hand, may be utilized as a preventative measure against this problem. It is possible to run a safe computing environment in an open system without the requirement for a central authority using the blockchain. Blockchain is being used by a number of companies to boost productivity and provide a return on their investment. In order to reduce operating expenses, it is widely accepted that blockchain has the ability to do operations more efficiently. An increasing number of businesses are using blockchain technology to safeguard and track their work processes across systems borders.
Cyber security has become a serious issue in the digital sector, as data is no longer protected from being hacked. The number of internet users is likely to climb in the next years due to the growing number of people using the internet. Increased user numbers necessitate additional data management and security measures. Cybercrime is estimated to damage the global economy an estimated trillions every year. The frequency and complexity of cyberattacks are on the rise, making the situation even worse (Chiu et al., 2022; Susanto, 2021). For the digital sector, Blockchain is now considered the most secure method of storing and transmitting data. Its capabilities reveal that it has features such as data secrecy, integrity, and availability that are superior to those of currently available technologies. When it comes to data security and commercial transactions, it is regarded a viable technology.
A blockchain is a chronological series of documents called blocks that stores data openly. Users’ privacy is protected by employing cryptography to encrypt information so that it cannot be read or changed. A blockchain network does not have a centralized control, unlike existing financial organizations. Each blockchain transaction is democratically approved by the network's members, who are in charge of maintaining the data. To get to data stored on the blockchain, all that is required is a network connection. If you're part of the blockchain network, your copy of the ledger is identical to others. There will be immediate notification to all other participants and the ability to rectify any issues that arise with any one node or piece of data on any one participant's computer. Peer-to-peer networking and a digital ledger are all part of the blockchain technology that makes it up. A private key and a public key are the two kinds of cryptography keys. A digital signature may be generated using either one or both of these keys, which are kept by everyone or every node. In terms of blockchain technology, digital signatures are the most critical aspect, since they provide an exclusive feature for digital identity (Heru et al., 2022; Susanto et al., 2022b; Ibrahim et al, 2022; Khusni et al., 2022; Yu et al., 2021).
It is the goal of this study to identify cyberthreats in Brunei and to determine whether or not the people are aware of these attacks. As part of this effort, the initiative to whether blockchain technology can be used to mitigate cyberthreats in the country. This research paper will provide an overview of the literature review and a methodology for collecting the findings of research questions and hypotheses.
This research is arranged in the following way. To begin, the literature review provides a comprehensive analysis of the research, including how blockchain works, the type of cyberthreat, the consequences of cyberthreat, assessing blockchain security, and justifying whether blockchain is necessary.As the next step, a table presenting the study methodology, including the research design, sampling strategy, data collection approach, and the data analysis technique utilized to present, analyze, and interpret the results, will be generated. Tables are used to display, evaluate, and understand data collected during the research process. After the data analysis, the outcomes of the different viewpoint will be discussed in the discussion section. Moreover, the study highlighted increasingly, cyberthreats are occurring in the digital environment, exploiting personal data's confidentiality, integrity, and availability. More and more people are becoming victims of cyberthreats, which exploit data and cause severe damage to the digital environment, as technology advances. This study primary research question will be:
- 1.
How frequent are you connected to the internet?
- 2.
Do you experience any privacy or security issue throughout on the internet?
- 3.
How frequent do you change your password?
- 4.
Do you use a two-factor authentication for security measures?
- 5.
Do you use any antivirus software?
- 6.
Do you always update the firmware security features of your internet devices?
- 7.
Have you ever responded to a suspicious email from an unknown sender?
- 8.
Have you ever opened an attachment or link from a suspicious site?
- 9.
Have you ever encountered the following cyberthreat?
- 10.
Have you ever heard about blockchain technology?
- 11.
Do you use any of the following blockchain applications?
- 12.
Do you think in the future blockchain technology is necessary?