As extra firms transition to digitisation, the danger of cyberattack grows. The founding father of vitality commodity buying and selling firm Powerledger argues companies can higher shield themselves by embracing blockchain.
On this episode of Futurepreneur, Powerledger co-founder and chairman Dr Jemma Inexperienced joins enterprise reporter Dominic Powell to discover easy methods to handle cybersecurity dangers.
Powerledger was created in 2016 to be the “lacking piece of the jigsaw puzzle” within the renewable vitality transition because it permits renewables to be scaled with out boosting the price of electrical energy. “We noticed that the pushback from the incumbent vitality sector towards renewable vitality was as a result of it was pushing up an vitality costs,” Dr Ledger stated.
This yr Powerledger moved to a Solana-based blockchain for recording electrical energy transactions. This implies energy token holders can now use their tokens in trade for sustaining a node on Powerledger’s blockchain and be paid for doing so.
Dr Inexperienced stated this mannequin permits for “an amazing sense of possession across the firm … we’re capable of steer it within the route of the imaginative and prescient of the corporate, which is clear vitality that works for everybody on the planet.” She argues Solana pushed the corporate to drive the vitality transition “with out as a lot destruction of worth.”
One of many byproducts of founding Powerledger has been repeated situations of id theft, “individuals will arrange pretend accounts pretending to be me … we’re always logging requests to close down pretend accounts the place individuals have created full replicas and contacting individuals in my life, like pretending to be me,” she stated.
Dr Inexperienced stated her firm makes use of blockchain to higher shield itself from cyberattack: “Bitcoin has by no means been hacked regardless of it being value $1.5 trillion, and it’s open to the general public. I believe it speaks to the inherent safety of blockchain know-how,” she stated.
She argues firms and on a regular basis individuals can not overstate the significance of implementing warning when utilizing public wi-fi, putting in antivirus software program, and the necessity to often change passwords as mechanisms to forestall cyberattack.