Volume-12 , Issue-6 , Dec 2024, ISSN 2321-3256 (Electronic Version)

• Open Access   Article

  Exploration of Blockchain Technology for Enhanced Data Security in Small and Medium Enterprises

  Mani Arora

  Research Paper | Journal (IJSRNSC)

  Vol.12 , Issue.6 , pp.1-7, Dec-2024

  Abstract

  Full-Text HTML

  References

  Citation

  Abstract
  Small and Medium Enterprises (SMEs) constitute a significant portion of the global business landscape, yet they often face challenges in fortifying their data security infrastructure. This research paper investigates the integration of blockchain technology to enhance data security in Small and Medium Enterprises (SMEs). SMEs, often constrained by limited resources, face significant challenges in securing sensitive information. The study assesses the current data security landscape in SMEs, identifying vulnerabilities and exploring the potential of blockchain as a robust solution. Emphasizing decentralization and tamper resistance, the paper highlights how blockchain can fortify data security, offering benefits such as improved integrity and transparent audit trails. Practical considerations, including integration challenges and user adoption, are addressed, providing actionable insights for SMEs seeking to fortify their data security through blockchain implementation. The research contributes to the evolving discourse on cybersecurity in SMEs, offering a foundation for practical applications in blockchain technology for enhanced data protection.

  Key-Words / Index Term
  Blockchain, Data Security, Small and Medium Enterprises (SMEs), Cyber Threats, Information Protection

  References
  [1] M.S. Ali, M. Vecchio, M. Pincheira, et al., “Applications of blockchains in the internet of things: a comprehensive survey “ IEEE Communications Surveys and Tutorials, Vol.21, Issue 2 pp.1676-1717, 2019.
  [2] I.-C. Lin, T.-C. Liao “A survey of blockchain security issues and challenges” Int. J. Netw. Secur., Vol.19, Issue.5, pp.653-659,2017.
  [3] Z. Zheng, S. Xie, H.-N. Dai, X. Chen, H. Wang ” Blockchain challenges and opportunities: a survey “ Int. J. Web Grid Serv., Vol.14 Issue.4 , pp.352-375, 2018.
  [4] de Villiers, C., Kuruppu, S., Dissanayake, D., 2020. “A (new) role for business—promoting the United Nations’ Sustainable Development Goals through the internet-of-things and blockchain technology”. J.Busres., Nov 2020.
  [5] Merugula, S., Dinesh, G., Kathiravan, M., Das, G., Nandankar, P., Karanam, S.R., 2021. “Study of Blockchain Technology in Empowering the SME. Proceedings - International Conference on Artificial Intelligence and Smart Systems” ICAIS 2021, pp.758–765, 2021.
  [6] Paul, J.”SCOPE framework for SMEs: a new theoretical lens for success and internationalization.” Eur. Manag. J. Vol.38, Issue.2, pp.219–230, 2020.
  [7] S. Yu, "Big Privacy: Challenges and Opportunities of Privacy Study in the Age of Big Data," in IEEE Access, Vol. 4, pp. 2751-2763, 2016.
  [8] Soria-Comas, J., Domingo-Ferrer, J. “Big Data Privacy: Challenges to Privacy Principles and Models. Data Sci” Eng. 1, pp.21–28, 2016.
  [9] Zyskind, G., & Nathan, O. “Decentralizing privacy: Using blockchain to protect personal data.” IEEE Security and Privacy Workshops. pp.180-184, 2015.
  [10] Chabani, Z., Hamouche, S. and Said, R., “Is blockchain technology applicable in small and medium-sized enterprises?”, in Motahhir, S. and Bossoufi, B. (Eds), Digital Technologies and Applications. ICDTA 2021. Lecture Notes in Networks and Systems, Springer, Cham, Vol.211, 2021.
  [11] Nakamoto, S., “Bitcoin: a peer-to-peer electronic cash system”, 2008.
  [12] Yang, J., Yu, H. and Pan, J. , “Research on the optimization of the financial system of SMEs based on blockchain technology”, Proceedings- 2021 International Conference on Intelligent Blockchain based SME finance JTS Computing, Automation and Applications, ICAA 2021, pp.623-627, 2021.
  [13] Zheng, Z., Xie, S., Dai, H., Chen, X. and Wang, H., “An overview of blockchain technology: architecture, consensus, and future trends”, 2017 IEEE International Congress on Big Data (BigData Congress), Honolulu, HI, pp.557-564, 2017.
  [14] Ante, L. , “Blockchain-based tokens as financing instruments: capital market access for SMEs?”, Fostering Innovation and Competitiveness with FinTech, RegTech, and SupTech, pp. 129-141, 2020.
  [15] Swan, M.” Blockchain: Blueprint for a New Economy”. O`Reilly Media, 2015.
  [16] Tapscott, D., & Tapscott, A., “Blockchain revolution: how the technology behind bitcoin is changing money, business, and the world. Penguin”, 2016.
  [17] Huang, D., O`Neill, J., & Parlikad, A. K. “Exploring the adoption of blockchain technology in the construction industry.” In Proceedings of the Creative Construction Conference 2018 pp.258-264, 2018.
  [18] Mougayar, W.” The business blockchain: promise, practice, and application of the next internet technology”. John Wiley & Sons,2016
  [19] Ravi Prakash, V.S. Anoop, S. Asharaf. “Blockchain technology for cybersecurity: A text mining literature analysis“ in International Journal of Information Management Data Insights, 2022.
  [20] Kshetri N “ Blockchain’s roles in meeting key supply chain management objectives “ International Journal of Information Management Vol 39 pp.80-89, 2018.
  [21] Maurer, Bill & Nelms, Taylor & Swartz, Lana. "When perhaps the real problem is money itself!": The practical materiality of Bitcoin. Social Semiotics. 2013.
  [22] Christidis, K. and Devetsikiotis, M.,”Blockchains and smart contracts for the internet of things.” IEEE Access, Vol.4, pp.2292-2303, 2016
  [23] Tapscott, D. and Tapscott, “A. Blockchain Revolution: How the Technology behind Bitcoin Is Changing Money, Business, and the World”. Penguin, New York, 2016.
  [24] Pilkington, M. “Blockchain technology: principles and applications”. Research Handbook on Digital Transformations, 2016.
  [25] Primavera De Filippi, Morshed Mannan, Wessel Reijers. ”Blockchain as a confidence machine: The problem of trust & challenges of governance, Technology in Society” Volume 62,101284, 2020.
  [26] Fran Casino, Thomas K. Dasaklis, Constantinos Patsakis “A systematic literature review of blockchain-based applications: Current status, classification and open issues,Telematics and Informatics” Vol.36, pp.55-81, 2019.
  [27] Vitalik Buterin, Jacob Illum, Matthias Nadler, Fabian Schär, Ameen Soleimani “Blockchain Privacy and Regulatory Compliance: Towards a Practical Equilibrium” Blockchain: Research and Applications, 100176, 2023.
  [28] De Filippi, P., and Wright, A.” Blockchain and the Law: The Rule of Code.” Harvard University Press, 2018.
  [29] Wang, S., et al. . “Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets.” Federal Reserve Bank of St. Louis Review, 2020.
  [30] Gordon, L. A., Loeb, M. P., & Sohail, T..” A framework for using insurance for cyber-risk management”. Communications of the ACM, 53(3), pp.81-85, 2010.
  [31] Anderson, R., & Stettler, “A.. SMEs and cybersecurity: risks and challenges”. Information Security Journal: A Global Perspective, Vol 25 Issue 5-6, pp.210-217, 2016.
  [32] Symantec.. Internet Security Threat Report, 2019
  [33] European Commission.. “GDPR and SMEs: Challenges and opportunities”, 2018.
  [34] Foxman, E. R., & Kilcoyne, P.. Information technology, marketing practice, and consumer privacy: Ethical issues. Journal of Public Policy & Marketing, Vol 12 Issue 1, pp 106-119,1993.
  [35] Martin, K. D., & Murphy, P. E..” The role of data privacy in marketing”. Journal of the Academy of Marketing Science, Vol.45 Issue.2, pp.135-155, 2017.
  [36] Barker, K., Askari, M., Banerjee, M., Ghazinour, K., Mackas, B., Majedi, M., ... & Williams, A. “A data privacy taxonomy”. In British National Conference on Databases. Springer, Berlin, Heidelberg, pp.42-54, 2009.
  [37] Conoscenti, Marco; Vetrò, Antonio; De Martin, Juan Carlos. “Blockchain for the Internet of Things: a Systematic Literature Review”,IEEE/ACS 13th International Conference of Computer Systems and Applications (AICCSA), Agadir (MAR),. pp.1-6, 2016.
  [38] J. Warren, “Bitmessage ”A peer-to-peer message authentication and delivery system,” white paper, 27 November 2012.
  [39] Aitzhan, N. Z., & Svetinovic, D. “Security and privacy in decentralized energy trading through multi-signatures, blockchain and anonymous messaging streams”. IEEE Transactions on Dependable and Secure Computing, 2016.
  [40] Zheng, Z., Xie, S., Dai, H., Chen, X., & Wang, H.. “An overview of blockchain technology: Architecture, consensus, and future trends.” IEEE International Congress on Big Data (BigData Congress), pp.557-564, 2017.
  [41] Bayer, D., Haber, S., & Stornetta, W. S.. “Improving the Efficiency and Reliability of Digital Time-Stamping. “ Sequences II: Methods in Communication, Security, and Computer Science, pp.329-334.1992.
  [42] Yli-Huumo, J., Ko, D., Choi, S., Park, S., & Smolander, K.” Where is current research on blockchain technology?—a systematic review”. PloS one, Vol.11, Issue.10, 2016.

  Citation
  Mani Arora, "Exploration of Blockchain Technology for Enhanced Data Security in Small and Medium Enterprises," International Journal of Scientific Research in Network Security and Communication, Vol.12, Issue.6, pp.1-7, 2024