Drone X Blockchain the epic combo

We’re all suckers for cool stuff.

Drones seem cool.

Drake used a drone to film his music videos, Lady Gaga’s performance looks much more heavenly enhanced by drones.

Different industries have picked up the potentials of drones and now drones deliver pizza, medical supplies, predict the weather, monitor mining and construction works (and give an aerial view of your favourite celebrities from time to time).

However these drones flying around carrying personal, private and proprietary data in uncontrolled public spaces do give shivers. In the worst case scenario, the drones could collide and fall into the wrong hands to get the data compromised.

This is where blockchain technology comes to the rescue. Blockchain provides encrypted data storage and prevents external attacks. With drones’ location data updated in real time shared on a publicly accessible distributed ledger, managing air traffic and dealing with collisions can be done easily.

Big names such as Walmart and IBM that have been leading enterprise blockchain adoption in diverse fields have filed patents for blockchain based drones. Earlier this month, Walmart has filed a patent for a drone-to-drone encrypted communication. Last year, IBM has filed a patent for a system that will utilise blockchain to secure data carried by drones.

At Novum Insights, we look at other disruptive companies breeding a drone x blockchain hybrid.

SKYFchain
SKYFchain is an unmanned logistics operating platform on private blockchain for SKYF drone (heavy cargo drones) customers. The company uses built-in smart contracts to provide secure data and control. ERC20 is used to issue SKYFT tokens that will be used for payments for the services.

Red Cat
Implementing blockchain to the drone industry, Red Cat aims to make drones more accountable and secure. Red Cat provides distributed data storage and analytics for the recreational and commercial drone industry. Red Cat black box drone flight recorder records data with encryption.

The question of cybersecurity is not just a matter of the banking industry but a number of different industries from healthcare, travel, higher education to government agencies in the digital age.

This July, Capital One bank hack exposed its 100 million customers’ personal information.

Credit rating bureau Equifax got 143 million customers’ names, addresses, Social Security numbers stolen in 2017.

30 million users of Facebook got their data compromised in 2018.

The hotel chain Marriott put its 383 million customers’ data - credit card numbers, passport numbers, email address, phone numbers, names - to danger.

In June 2019 the Australian National University discovered a major data breach exposing 200,000 staff and student’s information including bank account numbers and passport numbers dating back 19 years.

The total value of $US5.2 trillion is at risk globally due to cyber attacks and Global Market Insights expects the cybersecurity market to grow to $300 billion over the next five years. 

At Novum Insights, we’ve been tracking a number of companies leveraging cutting edge technologies to combat cyber crimes. Data shows that Blockchain and AI are the two most gravitating technologies predicted to enhance cybersecurity operations. 

Storing and publishing data on blockchain eliminates the risk of altering data, fraud and attacks. Decentralised database makes hackers harder to target attacks. 


Did you know that the US Department of Defense is looking to implement blockchain technology to advance the country’s cybersecurity? Also, New Jersey signed Blockchain Initiative Task Force into law to explore potential use cases of blockchain on the state level.


Artificial Intelligence has a myriad of benefits to offer including, but not limited to machine learning firewalls, real-time analysis, automated behaviour and threat detection and event forecasting.


Here are noteworthy companies endeavouring to fight against cyber crimes. 

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DARKTRACE

Darktrace applies artificial intelligence to enhance cybersecurity across digital spaces such as IoT, business control systems, cloud and Virtualized Network Services. Its algorithms detect insider threats and external attacks in real-time.  

Total Investment Raised : $230.5M
Notable Investors: Samsung Ventures, Softbank, Hoxton Ventures, KKR, Insight Venture Partners

CYLANCE

Working at the endpoint where most attacks occur, the Cylance AI platform predicts and prevents attacks before the attackers execute damages faster and with less disruption. Cylance is bought by Blackberry in 2019.

Total Investment Raised : $290.7M

SYSDIG

Sysdig offers unified could-native visibility and security solutions providing a microservices-friendly platform. Its container security app brings together container image scanning, compliance and forensics to block attacks. Its container monitoring app enhances software reliability with built-in Prometheus monitoring, Kubernetes integration and container troubleshooting.

Total Investment Raised : $121.5M