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It’s no secret that the job industry is changing. We’re not talking about growing or shrinking though, we’re talking about the way people approach their entire career. We all know that the days of spending your entire career with one or two companies are long gone, but now it’s becoming more common for people to be employed by no companies.

How?

Say hello to the gig economy. Thanks to modern technology a person in Texas can work for a company in Vermont or Nevada at the same time without ever leaving their home. Of course, they aren’t full-time employees, hence the “gig” part, but due to the fact that they aren’t confined to one city or area for work they get the luxury of having a wide choice of work all from the comfort of their home and companies save costs on overhead and benefits. Call them freelancers or remote employees for now if you’d like, but with the pace at which businesses are integrating technology into their everyday operations, you’ll just be calling them modern workers soon.

If there’s one thing we know about the spread of online devices and networks though, it’s that it causes a massive headache for companies who like to keep their information private. Everyone from local mechanics to industry giants like Equifax are all vulnerable to cybercriminals because to do business today means doing business online. Add in the fact that more and more people are joining the gig economy and working remotely for multiple companies, and you can see why hackers are able to make headlines around the world every few months these days.

There is some good news though. Doing business online is like riding a bike. It’s easy to do and there’s always some danger involved, but you get to decide how much danger you put yourself in.

In those terms, using distributed ledger technology (DLT) for your online business is like wearing a helmet while riding your bike. You still might fall, but there is a much better chance you walk away without a serious injury.

How does it work? A DLT is the digital equivalent of not putting all your eggs in one basket. Instead of storing data at one a few local servers, a DLT spreads out stored data between several locations or servers preventing any one data breach from bringing a company to its knees.

You’ve probably heard about cryptocurrencies like Bitcoin recently. If you’ve ever wondered how digital currency can be secure when the largest companies in the world can’t protect themselves, DLT is your answer. Bitcoin works by using Blockchain technology, which creates a unique and unalterable pattern to protect its data and then spreads that data around to thousands of different locations using a DLT network. The results speak for themselves. While Bitcoin owners have been hacked, mostly due to human error and clever social engineering, the fact that in today’s world of state-sponsored hacking operations and worldwide ransomware attacks, there haven’t been more notable failures of Bitcoin’s cybersecurity speaks to the effectiveness of DLT networks. The consequences of not having a DLT network also tell you just how important it is to take where you store your data seriously.

You don’t have to look far to see the consequences of traditional data storage. On February 15th the Greenfield, Indiana based Hancock Regional Hospital was hit by a ransomware attack that forced their doctors and nurses to revert to using pen and paper to care for their patients. To make things worse, the hospital CEO reported that the hackers didn’t get in through traditional methods such as an infected email and instead used more sophisticated methods meaning that hackers are getting better at stealing from people like you.

Will you get better at protecting your data from them?

The gig economy isn’t going away anytime soon. According to a survey by the accounting software company FreshBooks, 97{39d4fd48f61734618488bffee706f51b8721158d71bf344a4fd222dff2def49f} of the people who are self-employed have no desire to return to the traditional workforce and 70{39d4fd48f61734618488bffee706f51b8721158d71bf344a4fd222dff2def49f} are actively expanding their freelancing business. If you want to do business with modern and tech-savvy employees, then you need to take your cybersecurity seriously.

Find out if a DLT network is a good fit for you and your business or if there is another solution that will keep minor stumbles from becoming life altering incidents for your business. If you aren’t sure, think about this.

The hackers who launched the ransomware attack against Hancock Regional Hospital asked their ransom to be paid in bitcoin, which as you’ll remember is supported by a DLT network. That’s a common practice among hackers, so will you wise up and beat them at their own game by using the most secure online security methods or will you keep riding without a helmet?

Categories: Blockchain

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