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Spring 2024, No. 1, Vol. 6 / Romanian Cyber Security Journal


Navigating Blockchain Challenges: A Comprehensive Exploration of Cybersecurity and Data Privacy in the Digital Era

Mihnea – Vlad NICOLAE

mihnea.nicolae@ici.ro


Abstract:

In this manuscript, we delineate and assess primary obstacles aimed at bridging the knowledge gap among SMEs, corporations, organizations, businesses, governmental entities, and the general public in the adoption, promotion, and utilization of Blockchain technology. The identified challenges primarily revolve around Cybersecurity and Data Privacy. Additional hurdles are expounded upon, with support from relevant literature, addressing the exploration of legal frameworks and data security management systems. This encompasses an examination of the types and variations of valid encryption, data acquisition policies and outcomes according to the General Data Protection Regulations and ISO 27001.

Blockchain, a groundbreaking method characterized by its storage permanence, offers a robust storage strategy. When integrated with a Smart Contract, it empowers users to establish partnerships, share information and provide consent through a legally-grounded system for conducting secure digital business transactions. Ethical and legal challenges vary significantly across different regions worldwide. Building trust and obtaining consent, whether in public or private sectors, for the adoption of defensive data management approaches, directly influences the efficiency of accountability and transparency mechanisms. Hence, it is imperative to invest in and research these areas to facilitate international dialogue encompassing finance, health and market strategies that address societal levels comprehensively. Through the article, we outline a system essential for conducting experiments that involve the detection, capturing, processing and storage of data. This involves the isolation of packet data to inform Cybersecurity levels and privacy-related activities while ensuring transparency is demonstrated in a secure, intelligent and efficient manner.

Keywords:
SMEs, Smart Contracts, Cybersecurity, data privacy, Encryption, Blockchain

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CITE THIS PAPER AS:
Mihnea – Vlad NICOLAE, "Navigating Blockchain Challenges: A Comprehensive Exploration of Cybersecurity and Data Privacy in the Digital Era", Romanian Cyber Security Journal, ISSN 2668-6430, vol. 6(1), pp. 85-98, 2024. https://doi.org/10.54851/v6i1y202409