Bank Hapoalim, IAI team on blockchain for cybersecurity

Cybersecurity  image: Shutterstock

The two companies will investigate how blockchain can be used by enterprises to more securely manage information.

The cybersecurity organization of Bank Hapoalim (TASE: POLI) and the cyber enterprise of Israel Aerospace Industries (IAI) have announced they will collaborate in leveraging blockchain technology to create innovative cyber solutions.

The joint research undertaken by the two companies will examine how blockchain, the technology at the basis of cryptocurrencies such as Bitcoin, could be used for developing innovative cybersecurity solutions, such as secure transmission of information between services and supply chains, user authentication, critical devices and elements that run with no human intervention and additional solutions for the cyber challenges in a hyper-connected world.

The companies say that the collaboration will harness the vast financial information security knowhow developed and kept at Bank Hapoalim and the national-defense cyber knowhow at IAI. Together, the two companies will investigate how blockchain could be used by enterprises to more securely manage the information transferred among them, within their systems and between customers or business partners.

Blockchain technology has recently caught the world's attention because of the central role it plays in enabling cryptocurrencies. It enables secure information transmission on the network with no human involvement. This technology offers Bank Hapoalim the potential of more secure communication with customers, suppliers and partners. Similarly, IAI seeks to develop elite cyber security technologies for critical military and civilian systems that are part of its cyber operations, which are strategic growth engines for IAI.

Published by Globes [online], Israel business news - - on January 3, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Cybersecurity  image: Shutterstock
Cybersecurity image: Shutterstock
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