ITC571| Emerging Technologies and Innovation
Introduction
Blockchain technology is an emerging technology having a successful solution in providing a safe decentralized knowledge sharing environment. Initially, this emerging technology was conceived for the exchange of digital currencies, it supports protection and security applications in several other fields, such as the Cloud computing, smart homes, smart gardens and other organizations. This report elaborates the application of block chain to insure information privacy and security for market organizations. It will also signify how the block chain protect organizational data from the cyber-attacks and thefts.
Rationale
Problem domain
As most of the organizations have specific privacy and security issues as they have to secure the personal identifying information of their employees and customers, such as Employee Identification number, customer’s payment information, social security numbers and other financial details, which implies they have no room for any types of mistakes. But there is always a risk on privacy of data thefts or cyber-attacks in the organization by internal or external factors. The evolution of block chain technology has provided some safeguard to the sensitive data of organizations by sharing these data over the distributed network in the form of blocks. These set of block represents a network which is decentralized, and hence, cannot be accessed by any outsider in any case.
Purpose and justification
This research project mainly considers the application of block chain and their method for providing safeguard to the sensitive data of an organization. The key elements for building trust among customers and employees in all organizations are security and privacy of their personal data (Longzhi Yang, Neil Eliot,. 2019). Thus, the implementation of blockchain technology by organizations, will be beneficial in ensuring privacy and security of essential and confidential data and information.
Supervisor Approval
After successful planning for a research project., it needs to be verified under some conditions or criterion and under the guidance of a project supervisor. He has the responsibility for the adequate development and accomplishment of the accepted research project in cooperation with the student, and make appropriate changes in the research if required. He also retains and maintain expertise in the field to ensure proper oversight of the research paper. Hence, before moving for the next phase there is need of supervisor approval, thus, the following supervisor approval plan has been mentioned;
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Approvals required for? |
Yes/No |
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Research Goal has been finalized. |
YES NO |
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Planning for the research has been done in accordance of the goal to be achieved. |
YES NO |
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A suitable methodology approach has been selected. |
YES NO |
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Problem Statement finalized. |
YES NO |
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Data collection and Analysis Procedures are done, for further research process. |
YES NO |
Research Question
RQ 1: How block chain application ensures the information security and privacy for marketing organizations?
RQ 2: What are the benefits blockchain offer for organizations?
RQ 3: What type of security and privacy issues face by marketing organizations?
RQ 4: What type of solution an organization could apply to secure their credentials related to business?
Conceptual and theoretical framework
The above given framework represents how the ledger use of the block chain help to prevent the data from cyber-attacks. Here, the transactional data gets divided into the set of blocks namely x, x+1 and x+2. Each of the block has their own unique identification number and the hash of previous block. This Previous hash is used to maintain a connection between the following two blocks. Also, the first block is known as the genesis block and it has the hash of the next block. Then, these set of blocks shared on the P2P network, which help to prevent sensitive data form intruders. Therefore, this blockchain framework helps in maintaining a decentralized network, due to which, various confidential data and information will not be accessible by any outsider, maintaining a secure network. By implementation of this, it can be said that using blockchain technology can help in ensuring privacy and security of data.
