PROSPECTS OF USING BLOCKCHAIN TECHNOLOGY IN BANKING CYBERSECURITY SYSTEMS

Abstract

Identification and prevention of cyber threats by security systems is an urgent issue for banks. Ensuring this process requires the implementation of reliable, efficient, and modern technologies. The authors have devoted the article to the study of the prospects for the use of blockchain technology in bank cybersecurity systems. The paper has identified the features of the problems of ensuring banks' cybersecurity and its relevance. There has been described the leading technologies and tools that are now actively used to counter cyber attacks on banking institutions and their customers. The authors have emphasized artificial intelligence and machine learning, which are widely implemented in banking information systems, and are also used to solve individual tasks for bank cybersecurity. They have analyzed the possibilities of using the main advantages of blockchain technology in the fight against major cyber threats. The authors highlighted such benefits as decentralization, complete transparency, confidentiality, protection against unauthorized access, and compromise. It has been revealed that blockchain technology could potentially significantly reduce or even eliminate some types of vulnerabilities in existing banking systems. The authors have carried out an analysis of the level of interest in this technology in the areas of computer security and bank activities in the world over the past five years using the Google Trends database. The level of interest in artificial intelligence exceeds the level of interest in the blockchain in the category of requests related to computer security. The main reason is the widespread use of this technology and its effectiveness in investments. The situation is opposite in the category of requests related to banking. The authors have connected it with the creation of blockchain technology that was associated with the field of financial instruments and banking. They have also compared the level of interest in blockchain and artificial intelligence in the world and individual countries. As a result, it was found that both technologies are quite famous and their use can complement each other for implementation in banks' cybersecurity systems.