Healthcare industry: A prime target of cyberattacks

In the U.S., healthcare is the second largest sector of the economy. It accounted for around 18 percent of the nation’s total GDP in 2017. Unfortunately, the sector size also makes it vulnerable to cyberattacks. As a matter of fact, the healthcare industry is twice as vulnerable to cyberattacks than any other sector.

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There are plenty of reasons hackers target healthcare, such as the following:


Highly valuable data: Healthcare organizations hold a great amount of patient data, which can include highly sensitive and private information, such as full names, social security numbers, addresses, contact details, birth information, and more. Hackers can sell such information on the black market or monetize it through blackmail. For example, in early 2018, a U.S. hospital had to pay $55,000 to cybercriminals after a ransomware attack.

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Ease of attacks: Nowadays, consumers prefer and sometimes even demand quick service and instant access to medical information, scheduling, and other services. Healthcare organizations have then invested in remote services, Internet-based consulting, cloud technologies, IT integration, Internet of Medical Things, and other similar technologies. These, unfortunately, can also provide additional opportunities for cybercriminals to attack, especially if insufficient resources are spent on cybersecurity. Compliance challenges are also commonplace in the healthcare industry, which may make it more difficult for organizations to include additional budget on cybersecurity.


Richard Blech is a resolute advocate of disruptive technology, holding vested interests in cyber-defense and digital content. Read more about these topics by checking out this blog.

How blockchain technology helps protect your data

Blockchain technology relies on the formation of constantly growing record lists called blockchains which are secured via cryptography. It’s the principal transaction innovation behind the rise of digital money or cryptocurrency. But how exactly does it aid in better protecting your data?

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For one, actual physical transfers for any blockchain-based transaction happen independently of the sending of tokens that contain any asset’s metadata. These virtual ledgers carry everything from maps, images, documents and, well, money. And blockchain aids immensely in eliminating wrong or illegal transactions because by nature it is dependent on a consensus between the mentioned physical and virtual transfer.


Moreover, blockchain makes your data hard to hack, as it stores, for example, your financial information across a vast network of computers or servers. If one gets compromised, it doesn’t mean that the others will be because they rely on different nodes. In the first place, hacking even just one blockchain server and altering one’s records is extremely difficult if not altogether impossible.

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Even the World Economic Forum agrees that the distributed-ledger system provided by blockchain will be crucial in storing and protecting data, saying that 10 percent of worldwide gross domestic products will be on these ledgers as early as 2027. Financial institutions everywhere must adapt and migrate their bonds, stocks, property deeds, etc. onto these most-welcome and smart grids if they are to better maintain customer trust and loyalty down the line.


Secure Channels CEO Richard Blech is a managing member of Imperium Management LLC. He actively invests in technologically advanced projects and holds a vested interest in cyber defense and digital content as he is a determined advocate of disruptive technology. For related posts, visit this blog.