New Study shows that 80 percent of Businesses are interested in Bitcoin

A wide majority of companies have interests in transactions involving Bitcoin according to a recent survey. The study carried out by Neustar International Security Council revealed there is a huge opportunity for Bitcoin in the business sector. Neustar, Inc. established Neustar International Security Council (NISC) as an international forum of cybersecurity experts.

An Opportunity for Bitcoin

Results from the survey show 80% of the companies surveyed said they were interested in using Bitcoin and other cryptocurrencies. Also, 48% of respondents said cryptocurrency is an avenue for their companies to deliver more value and generate more revenue.

A fear of Cyberattacks

The other leg of the survey exposed fears associated with Bitcoin transactions. 80% of businesses interviewed feared that Bitcoin would lead to an increased risk of cyber attacks on their businesses. They noted that if they hold Bitcoins, they would become targets of Distributed Denial of Service (DDoS) attacks.

SEE ALSO:   Ripple price prediction 2018 XRP USD: Should I invest now? (Ripple News) XRP Price today - expected market cap of ripple 2025 - Ripple price prediction news - Price Forecast

This fear is not new; it ranks high among reasons why businesses stay away from cryptocurrency transactions. Rodney Joffe, Neustar Senior Vice President and Head of NISC, believes that cyberattacks and financial threats are factors hindering Bitcoin.

Ransomware and DDoS attacks continue to be seen as the leading threat to companies due to the sheer volume, complexity and potential severity of an attack. That said, not too far behind as the second greatest concern to businesses moving forward is financial threat.

Rodney Joffe – Senior Vice President, Neustar

The Neustar executive expressed concern that hackers could take advantage of rapid advances in technology to cause “major distractions” using ransomware and DDoS attacks to steal data, fiat currencies and cryptocurrencies. Cryptocurrency already got a bad name when the notorious WannaCry hacker demanded Bitcoins as ransom.

SEE ALSO:   Litecoin price prediction: Litecoin outperforms in March - News Today

Joffe suggested a united front to protect businesses. He said that “by developing a more cohesive security strategy, organizations can hone in on their most vulnerable data, processes, and models, protecting their critical information in the short and long-term.”

Legal Disclaimer: Smartereum does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice. Investing in cryptocurrencies and other Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Smartereum or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Smartereum makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns small amounts of cryptocurrency.

Leave a Comment

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!

The Smartest Way To Stay On Top Of Crypto!

Subscribe to our daily newsletter, and we’ll send you the latest Ethereum, Bitcoin and other crypto news!

No, thanks!

Promise we won’t spam you!