According to PolySwarm CEO Steve Bassi, collecting information on malware infrastructure causes its campaigns to run more quickly.

Cybersecurity is becoming a more important demand as the blockchain industry expands. Due to this, according to PolySwarm CEO Steve Bassi, blockchain technology must be used for cybersecurity.

The application of blockchain in cybersecurity is still in its infancy, according to Bassi, even though awareness of blockchain technology and security is growing. In his own professional security career, he added, “Awareness about cybersecurity and crypto, especially over the previous five years, increased more than ever time.”

Despite the increase in awareness, Bassi pointed out that initiatives in the cybersecurity sector are still looking for ways to integrate blockchain technology. He mentioned that PolySwarm had developed a project to do just that. In order to accomplish this, the firm pays customers for sharing information about viruses. As said by Bassi:

“Gathering complete data on malware infrastructure shortens the lifespan of major malware campaigns and ultimately keeps PolySwarm’s customers and the internet at large more secure.”

Bassi cited the popularity of the Brave browser as motivation for his argument that antivirus firms are already gathering what he called “ultra-valuable malware infrastructure” but don’t pay users for sharing it.

Bassi responded that Web3 is distinct when questioned about the contentious methods used by Web2 businesses like Google and Facebook to collect data. He claims that PolySwarm prioritizes security over advertising.

Octagon Networks, a cybersecurity company, joined the Bitcoin (BTC) bandwagon in June by changing its financial sheet to the digital currency. Additionally, the business started to accept it for all of its services and offers a 50% discount to customers who pay with an asset.

A study on the cybersecurity of central bank digital currency was published in the same month by the American think tank the Atlantic Council. The research group noted a few hazards in CBDCs, including regulatory monitoring and privacy concerns.