New Blockchain Technology Protects Data Privacy Amid Surge in Cyber Crime

Alice Bonasio
Oct 11, 2021 · 5 min read

By Adi Ben-Ari, Founder & CEO, Applied Blockchain

The annual cost of annual cybercrime worldwide is forecast to reach US $6 trillion this year, representing grand larceny on a truly historic scale. The value of cybercrime is almost that of the combined GDP of the UK and Germany. The figure shows that efforts to stem the tide of cybercrime are failing.

Typically, the financial services sector is the most heavily targeted by cybercriminals. They are drawn to the sensitive data on…