Leveraging Blockchain Cybersecurity for Strategic Business Advantage

Abstract

Blockchain technology is transforming business models and processes across multidisciplinary industries through increased transparency and decentralization. As blockchain adoption accelerates, it attracts cybersecurity threats so it is important to necessitate robust security strategies. The chapter examines the important role of cybersecurity in enabling organisations and businesses to harness blockchain technology strategic value. How cybersecurity comprehensively builds confidence and trust in blockchain solutions is discussed and allows companies to maximize benefits like cost savings, enhanced security, and also new revenue opportunities. Blockchain components include smart contract auditing, education, and network security. It also emphasizes how to proactively address vulnerabilities and protect blockchain systems which gives organisations a competitive advantage in this digital economy. Lastly, it provides some practical insights in implementing a blockchain cybersecurity strategy that unlocks the strategic potential of this transformative innovative technology.