Introduction to Emerging

Technologies

Introduction to Emerging Technologies Assignment I

Name ID Number
 What is blockchain technology?
Blockchain technology is a decentralized, distributed digital ledger
that records transactions across many computers in a network. It is the
underlying technology that powers cryptocurrencies like Bitcoin.
Blockchain technology is an advanced database mechanism that allows
transparent information sharing within a business network.A
blockchain database stores data in blocks that are linked together in a
chain. The data is chronologically consistent because you cannot delete
or modify the chain without consensus from the network. As a result,
you can use blockchain technology to create an unalterable or
immutable ledger for tracking orders, payments, accounts, and other
transactions. The system has built-in mechanisms that prevent
unauthorized transaction entries and create consistency in the shared
view of these transactions.
Why is blockchain important?

Traditional database technologies present several challenges for

recording financial transactions. For instance, consider the sale of
a property. Once the money is exchanged, ownership of the
property is transferred to the buyer. Individually, both the buyer
and the seller can record the monetary transactions, but neither
source can be trusted. The seller can easily claim they have not
received the money even though they have, and the buyer can
equally argue that they have paid the money even if they haven’t.
To avoid potential legal issues, a trusted third party has to
supervise and validate transactions. The presence of this central
authority not only complicates the transaction but also creates
a single point of vulnerability. If the central database was
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Blockchain mitigates such issues by creating a decentralized,

tamper-proof system to record transactions. In the property
transaction scenario, blockchain creates one ledger each for
the buyer and the seller. All transactions must be approved by
both parties and are automatically updated in both of their
ledgers in real time. Any corruption in historical transactions
will corrupt the entire ledger. These properties of blockchain
technology have led to its use in various sectors, including the
creation of digital currency like Bitcoin.
What are the key characteristics of
blockchain technology?
 Decentralized - There is no single authority or central point of control.
The network is maintained by a decentralized network of computers
(nodes).
 Distributed Ledger - All transactions are recorded in a digital ledger
that is shared across the network. Every node on the network has a copy
of the complete transaction history.
 Transparency - The transaction history is transparent and can be
viewed by any participant in the network. This provides accountability.
 Immutability - Once a transaction is recorded in the blockchain, it is
extremely difficult to modify or delete it. The transaction history is
permanent and tamper-resistant.
 Consensus Mechanism - The network uses a consensus protocol (like
Proof-of-Work or Proof-of-Stake) to validate new transactions and add
How does blockchain technology differ from
traditional database systems?
Properties Traditional databases Blockchain
Security vulnerable to single points of failure and Decentralized nature and cryptographic security
potential data breaches. measures make it more resistant to hacking and data
tampering.
Speed process transactions quickly due to their May take longer to process due to the consensus
centralized nature. mechanisms involved.
Transparency private and controlled by the owner. with the entire transaction history visible to all
participants in the network.
Trust Rely on a centralized authority to maintain Decentralized consensus mechanism, eliminating
and secure the data. the need for a trusted third-party.
Data Immutability Allow for easy modification or deletion of Immutable - once a transaction is recorded, it
data. cannot be altered or deleted without the consensus
of the network.
Data Structure store data in tables, with rows and stores data in a series of interconnected blocks,
columns. forming a chain
Decentralization centralized and controlled by a single with the ledger distributed across a network of
authority or organization. computers (nodes).
Different industries use blockchain?

Finance:
 Cryptocurrency and digital payments
 Cross-border money transfers
 Trade finance and supply chain finance
 Lending and borrowing platforms
 Securities and asset trading
Supply Chain Management:
 Tracking and tracing of products
 Improving supply chain transparency and efficiency
 Ensuring authenticity and provenance of goods
 Managing logistics and inventory data
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Healthcare:
Secure storage and sharing of patient medical records
Tracking the supply chain of pharmaceutical drugs
Managing clinical trials and research data
Facilitating insurance claims and payments
Logistics and Transportation:
Tracking shipments and assets in real-time
Automating and streamlining logistics processes
Improving transparency and reducing fraud
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Logistics and Transportation:

 Tracking shipments and assets in real-time
 Automating and streamlining logistics processes
 Improving transparency and reducing fraud
Energy:
 Peer-to-peer energy trading and distribution
 Managing renewable energy certificates and credits
 Tracking energy production and consumption data
Real Estate:
 Automating property transactions and title management
 Improving transparency in property ownership records
 Enabling fractional ownership of real estate
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Voting and Elections:

 Securing and verifying voting processes
 Ensuring the integrity of election results
Identity Management:
 Secure and portable digital identity solutions
 Managing personal data and consent
Intellectual Property:
 Tracking and protecting digital assets and copyrights
 Enabling decentralized marketplaces for digital content
Governance:
 Improving transparency and accountability in public records
 Enabling secure and tamper-resistant record-keeping
What are the key challenges in adopting blockchain
technology across different industries?

Scalability:
 Blockchains can struggle to handle high transaction volumes due to the time required
for consensus and validation.
 This poses a challenge for industries that require fast and high-throughput transaction
processing, such as finance and e-commerce.
Interoperability:
 Different blockchain networks and platforms often lack the ability to seamlessly
communicate and exchange data with each other.
 This can create siloed ecosystems and hinder the integration of blockchain solutions
with existing legacy systems.
Regulatory Uncertainty:
 Governments and regulatory bodies are still grappling with how to effectively regulate
and govern blockchain-based applications, especially in areas like cryptocurrency and
decentralized finance.
 Lack of clear regulations can create uncertainty and hesitation for businesses to adopt
blockchain.
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Energy Consumption:
 Some consensus mechanisms, like Proof-of-Work used by Bitcoin, require significant
energy consumption to maintain the network.
 This raises concerns about the environmental sustainability of certain blockchain
implementations.
Privacy and Data Protection:
 The transparent nature of blockchain can raise privacy concerns, especially when dealing
with sensitive personal or financial data.
 Integrating blockchain with robust data privacy and protection measures is an ongoing
challenge.
Complexity and Technical Expertise:
 Implementing and maintaining blockchain-based systems often requires specialized
technical expertise that may not be readily available in many organizations.
 The complexity of blockchain technology can pose a barrier to adoption, especially for
smaller businesses.
Adoption Inertia:
 Replacing well-established legacy systems and business processes with blockchain-based
solutions can be a significant challenge, as it often requires a major shift in mindset and
 Disadvantages of blockchain?
Scalability Limitations:
 Blockchains can struggle to handle high transaction volumes due to the time required for
consensus and validation processes.
 This can lead to network congestion and delays, particularly for time-sensitive applications.
Energy Consumption:
 Some blockchain consensus mechanisms, such as Proof-of-Work (PoW), require significant
energy consumption to maintain the network.
 This raises concerns about the environmental impact and sustainability of certain blockchain
implementations.
Regulatory Uncertainty:
 Governments and regulatory bodies are still developing appropriate frameworks and
guidelines for blockchain-based applications, especially in areas like cryptocurrencies and
decentralized finance.
 This regulatory uncertainty can create barriers to adoption and implementation.
Privacy Concerns:
 The transparent nature of blockchain can raise privacy concerns, especially when dealing
with sensitive personal or financial data.
 Integrating robust privacy-preserving measures with blockchain technology is an ongoing
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Complexity and Technical Expertise:
 Implementing and maintaining blockchain-based systems often require specialized
technical expertise that may not be readily available within many organizations.
 This complexity can pose a barrier to adoption, particularly for smaller businesses.
Interoperability Challenges:
 Different blockchain networks and platforms often lack the ability to seamlessly
communicate and exchange data with each other.
 This can create siloed ecosystems and hinder the integration of blockchain solutions
with existing legacy systems.
Adoption Inertia:
 Replacing well-established legacy systems and business processes with blockchain-
based solutions can be a significant challenge, as it often requires a major shift in
mindset and organizational culture.
Potential for Misuse:
 Due to its decentralized nature and anonymity features, blockchain technology can
also be exploited for illegal activities, such as money laundering, tax evasion, and the
 What are the types of blockchain networks?

There are four main types of decentralized or distributed networks in the blockchain:
 Public blockchain networks
Public blockchains are permissionless and allow everyone to join them. All members of the blockchain have equal rights
to read, edit, and validate the blockchain. People primarily use public blockchains to exchange and mine
cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
 Private blockchain networks
A single organization controls private blockchains, also called managed blockchains. The authority determines who can
be a member and what rights they have in the network. Private blockchains are only partially decentralized because they
have access restrictions. Ripple, a digital currency exchange network for businesses, is an example of a private
blockchain.
 Hybrid blockchain networks
Hybrid blockchains combine elements from both private and public networks. Companies can set up private,
permission-based systems alongside a public system. In this way, they control access to specific data stored in the
blockchain while keeping the rest of the data public. They use smart contracts to allow public members to check if
private transactions have been completed. For example, hybrid blockchains can grant public access to digital currency
while keeping bank-owned currency private.
 Consortium blockchain networks
A group of organizations governs consortium blockchain networks. Preselected organizations share the responsibility of
maintaining the blockchain and determining data access rights. Industries in which many organizations have common
goals and benefit from shared responsibility often prefer consortium blockchain networks. For example, the Global
Shipping Business Network Consortium is a not-for-profit blockchain consortium that aims to digitize the shipping
industry and increase collaboration between maritime industry operators.
Cyber Security
 what is cyber security?

Cyber security is a discipline that covers how to defend devices and

services from electronic attacks by nefarious actors such as hackers,
spammers, and cybercriminals. While some components of
cyber security are designed to strike first, most of today's professionals
focus more on determining the best way to defend all assets, from
computers and smartphones to networks and databases, from attacks.
Cyber security has been used as a catch-all term in the media to
describe the process of protection against every form of cybercrime,
from identity theft to international digital weapons. These labels are
valid, but they fail to capture the true nature of cyber security for those
without a computer science degree or experience in the digital industry.
 Objectives of Cybersecurity
Confidentiality:
 Ensuring that sensitive information, such as personal data, financial records, and intellectual
property, is accessible only to authorized individuals or entities.
 Preventing unauthorized access, disclosure, or theft of confidential data.
 Implementing access controls, encryption, and other security measures to protect the
confidentiality of information.
Integrity:
 Maintaining the accuracy, completeness, and trustworthiness of data.
 Preventing unauthorized modification, tampering, or corruption of information.
 Implementing measures to detect and mitigate any changes to data to ensure its reliability
and authenticity.
Availability:
 Ensuring that authorized users have reliable and timely access to information and resources
when needed.
 Protecting systems and networks from disruptions, such as cyberattacks, hardware
failures, or natural disasters, to maintain the availability of critical information and
services.
 Implementing redundancy, disaster recovery, and business continuity plans to ensure the
 Key Components
 Access Control: Implementing robust authentication mechanisms, such as
passwords, biometrics, or multi-factor authentication.
 Threat Detection and Response: Monitoring systems for signs of malicious
activity and responding promptly to incidents.
 Encryption and Cryptography: Protecting sensitive data by converting it into a
coded format that can only be accessed with the correct decryption keys or
algorithms.
 Firewalls and Network Security: Establishing secure perimeters around networks
and systems to control and monitor incoming and outgoing traffic.
 Software and System Patching: Regularly updating software, operating systems,
and applications to address known vulnerabilities and security flaws.
 Security Awareness and Training: Educating employees about cybersecurity best
practices, such as recognizing phishing attempts and reporting suspicious
activities.
 Disaster Recovery and Business Continuity: Implementing robust backup and
recovery strategies to ensure the resilience of systems and data in the event of a
 Importance
 Protecting against cyber threats, such as malware, hacking attempts, data
breaches, and other forms of cyber attacks.

 Maintaining the confidentiality, integrity, and availability of sensitive

information and critical systems.

 Ensuring the reliability and trustworthiness of digital infrastructure and

services.

 Complying with regulatory requirements and industry standards related to

data protection and privacy.

 Preserving the reputation and trust of organizations and individuals in the

digital landscape.
 Pro’s And Con’s of Cyber Security
Pros of Cybersecurity

Protecting sensitive data and critical systems:

 Cybersecurity measures help safeguard confidential information, financial data,
intellectual property, and other mission-critical assets from unauthorized access, theft, or
damage.
Maintaining business continuity and resilience:
 Robust cybersecurity practices ensure that organizations can withstand and recover from
cyber attacks, minimizing the impact on operations, reputation, and financial performance.
Compliance and regulatory requirements:
 Effective cybersecurity helps organizations meet various industry regulations and
standards related to data privacy, security, and information management.
Enhancing customer trust and confidence:
 By demonstrating a strong commitment to cybersecurity, organizations can build trust and
credibility with their customers, partners, and stakeholders.
Preventing financial losses and legal liabilities:
 Cybersecurity measures help mitigate the risk of costly data breaches, fines, and legal
 Con’s Of Cyber security
Complexity and ongoing maintenance:
 Implementing and maintaining a comprehensive cybersecurity program can be complex and
resource-intensive, requiring specialized skills, technologies, and continuous monitoring
and updates.
Cost and budgetary constraints:
 Investing in cybersecurity measures, such as security tools, software, and personnel, can be
a significant financial burden, especially for smaller organizations with limited resources.
User resistance and training challenges:
 Changing user behavior and ensuring compliance with security policies can be challenging,
as some employees may resist or struggle to adapt to new security protocols and measures.
Potential for false sense of security:
 Over-reliance on technological solutions without addressing underlying human and
organizational vulnerabilities can create a false sense of security, leading to complacency
and increased risk.
Evolving threat landscape:
 Cyber threats are constantly evolving, and keeping up with the latest attack methods,
vulnerabilities, and countermeasures can be an ongoing challenge for organizations.
What are the common types of cyber attacks, and
how can they be prevented or mitigated?
Malware Attacks:
 Description: Malware, such as viruses, worms, Trojans, and ransomware, can infect systems and
networks, causing damage or disrupting operations.
 Prevention/Mitigation:
• Implement robust antivirus and anti-malware software.
• Keep software and systems updated with the latest security patches.
• Educate users on identifying and avoiding suspicious downloads or links.
• Regularly backup data to prevent data loss in the event of a ransomware attack.
Phishing Attacks:
 Description: Phishing involves using deceptive emails, messages, or websites to trick users into revealing
sensitive information or executing malicious actions.
 Prevention/Mitigation:
• Educate employees on recognizing the signs of phishing attempts.
• Implement email filtering and security measures to detect and block phishing emails.
• Encourage the use of multi-factor authentication to prevent unauthorized access.
• Regularly review and update security awareness training for employees.
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Distributed Denial-of-Service (DDoS) Attacks:
 Description: DDoS attacks aim to overwhelm a system or network with excessive
traffic, causing it to become unavailable to legitimate users.
 Prevention/Mitigation:
• Implement robust network and server capacity planning to withstand sudden traffic spikes.
• Use DDoS mitigation services or solutions to detect and mitigate DDoS attacks.
• Ensure that systems and servers have the necessary safeguards and redundancies to maintain
availability during an attack.
SQL Injection Attacks:
 Description: SQL injection exploits vulnerabilities in web applications that use
SQL databases, allowing attackers to gain unauthorized access to sensitive data.
 Prevention/Mitigation:
• Implement proper input validation and sanitization on all user-supplied data.
• Keep web applications and their underlying frameworks up-to-date with the latest security
patches.
• Regularly audit and test web applications for SQL injection vulnerabilities.
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Insider Threats:
 Description: Insider threats involve malicious actions taken
by individuals with legitimate access to an organization's
systems or data, such as employees, contractors, or partners.
 Prevention/Mitigation:
• Implement strict access controls and user privileges based on the
principle of least privilege.
• Monitor user activities and establish incident response protocols
to quickly detect and respond to suspicious behaviors.
• Conduct thorough background checks and security screenings for
personnel with access to sensitive information or systems.
Ransomware:
– Description: Ransomware is a type of malware that encrypts a victim's data and
demands a ransom payment to restore access.
– Potential Impact: Ransomware can disrupt business operations, cause significant
downtime, and lead to data loss if the ransom is not paid or if the decryption
process fails. It can also result in financial losses, reputational damage, and legal
consequences.
Data Breaches:
– Description: Data breaches involve the unauthorized access, theft, or exposure of
sensitive information, such as personal data, financial records, or intellectual
property.
– Potential Impact: Data breaches can lead to identity theft, financial fraud, loss of
customer trust, regulatory fines, and long-term reputational damage for the
affected organization.
Phishing Attacks:
 Description: Phishing involves using deceptive emails, messages, or websites to
trick users into revealing sensitive information or executing malicious actions.
 Potential Impact: Phishing attacks can lead to financial losses, identity theft, and
the compromise of corporate networks and systems, which can further enable
other cyber threats, such as data breaches or malware infections.
Insider Threats:
 Description: Insider threats involve malicious actions taken by individuals with
legitimate access to an organization's systems or data, such as employees,
contractors, or partners.
 Potential Impact: Insider threats can result in the theft or destruction of sensitive
data, the sabotage of critical systems, and the disruption of business operations.
They can also be difficult to detect and mitigate, as the perpetrator often has
authorized access and knowledge of the organization's infrastructure.
THANK
YOU !!!