Research Area:  Blockchain Technology

Abstract:

Cybercriminals and nation-state hackers are investing heavily in strategies devised to disrupt critical infrastructure systems. Nearly one out of two Industrial Control System (ICS) computers in the energy sector had been impacted by malicious cyber activity in 2018. With threats increasing and attack vectors expanding, critical infrastructure sectors like energy need to implement innovative technology to ensure Critical Infrastructure Protection. This study reviewed blockchain research published between 2015 and 2019 in order to examine the development of blockchain, evaluate current applications of blockchain in the energy sector, and propose additional opportunities for the application of blockchain technology. Quantitative analysis revealed that blockchain-based cybersecurity research and application in the energy sector is increasing at an annual average growth rate of 169% since 2015 with intensified focus on Internet of Things (IoT) and Smart Grid infrastructures. Computed projections forecast a continued increase in the research and application of IoT and Smart Grids. Calculations indicate that nearly 50% of the new research will be in blockchain-based cybersecurity solutions such as cryptographic communications and secure email. Qualitative analysis indicates potential for blockchain- based cybersecurity solutions to provide enhanced Critical Infrastructure Protection in those sectors against pervasive phishing and social engineering threats.

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Author(s) Name:   Taylor Rodriguez Vance; Andrew Vance

Publisher name:  IEEE

DOI:  10.1109/PICST47496.2019.9061242

Volume Information:  

Paper Link:   https://ieeexplore.ieee.org/abstract/document/9061242