In a recent interview at the GITEX Global 2023 event in Dubai, industry expert Bryan Daugherty discussed the latest developments in blockchain technology and its potential applications in cybersecurity. Daugherty, the chairman of SmartLedger, has become a thought leader in the industry since first encountering Dr. Craig Wright’s teachings on Bitcoin in 2016.
One of the key challenges Daugherty identified is the confusion among high-level officials in both public and private sectors regarding the difference between “crypto” and blockchain. To address this, he emphasized the importance of demonstrating the utility of blockchain to help people understand its value proposition.
At SmartLedger, Daugherty has focused on leveraging the massively scaling BSV blockchain for cybersecurity. Their Certihash suite of tools significantly reduces detection time, potentially saving clients millions of dollars in damages. Their latest product, Certihash Sentinel Node, developed in partnership with IBM, acts as an “undetectable tripwire” to detect any network anomaly and alert administrators promptly.
Daugherty is a subject matter expert on blockchain for the United States Department of Defense and emphasizes to mainstream entities that blockchain is the next evolution of the internet. He highlights the cost-saving potential of blockchain in preventing data breaches, with the average cost exceeding $9 million for breaches lasting over 30 days.
Daugherty asserts that SmartLedger’s cybersecurity tools can only be built on the BSV blockchain, as it offers superior speed, cost-effectiveness, and versatility compared to existing solutions. He highlights the microtransaction capabilities of BSV, emphasizing its ability to send a penny instantly with attached data as a standout feature of Bitcoin.
For those new to blockchain technology, CoinGeek offers a comprehensive resource guide in their Blockchain for Beginners section to further understand the potential of this innovative technology.