Blockchain Technology as a Tool for Combatting Cybercrimes in India: Challenges and Opportunities
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Abstract
The rise of cybercrime has become an imminent threat in the modern world of technical breakthroughs. This malicious activity takes many forms, such as malware, ransomware, and phishing, and it poses serious risks to people, businesses, and governments. This article conducts a comprehensive analysis of blockchain technology's potential as a strong deterrent to the growing wave of cybercrime. The introduction highlights the scope of cyber risks and emphasizes the need for creative responses. Cyber threats have been effectively addressed by traditional protection methods like firewalls, virtual private networks (VPNs), and artificial intelligence (AI). However, this study sheds light on blockchain technology, exploring its unique features to reveal its special potential to strengthen cybersecurity. The paper's main focus is a thorough examination of the barriers that are preventing blockchain technology from being seamlessly incorporated into cybersecurity frameworks. The analysis covers everything from scalability challenges to the complexities of reaching interoperability and the legal uncertainties associated with blockchain deployment. By breaking down these difficulties, the paper seeks to offer a comprehensive grasp of the barriers that need to be removed to fully utilize blockchain technology in the fight against cybercrime.
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