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RSA Security Does Not See the Need for Blockchain

It might sound peculiar to some people that RSA Security is not looking at the Blockchain technology as a possible solution for different things. However, its chief technology officer (CTO), Zulfikar Ramzan, is very clear in stating that he is not convinced about several use cases of the new technology. This is just an opposite view to several people who are looking at the technology as a disruptive one for a decade. The technology is gaining more traction and getting expanded to different mechanisms.

Favors Traditional Mechanisms

He fails to understand the logic as to why the traditional mechanisms could not address the issues that blockchain could provide. He is also ready to cite examples to defend his thinking or opinion. For instance, he referred to the supply chain management that some people view it as a classic case of use of blockchain technology. However, he believes that it is nothing but a shared database use case. He thinks that people have not yet understood the nuances of security. As a result, they are not in a position to understand the database too. Therefore, he sees it as a worse than blockchain.

The RSA CTO pointed out that in a number of cases, blockchain could be termed as a ‘heavy duty model’ meant to address issues with a lack of trust. However, the solution has several trust assumptions created in the solution. This could be applied to the tracking of an object wherein the trust is a key factor. That is, the processor for assigning identifiers, as well as, adding the identifiers to the new age technology, ZDNet reported.

Ramzan told the media that blockchain is starting to be termed as a magic one. He said, “It’s become this magical pixie dust, where people think you can solve all problems, and yes, maybe you can use it to address a certain set of problems, but just because you can and doesn’t mean you should. You can buy a sledgehammer to push a thumbtack into a wall. You could also just use your thumb. It’s a much cheaper solution, and probably better for other reasons as well. I think that’s where we are.”

None-the-less, he is not ready to write off the blockchain technology totally. He said that he is not ready to discount that there would not be any applications at all and that there are no genuine use cases outside the purview of cryptocurrencies. His concern is that people have not spent their time in understanding the nuances really.

Leaking Data

Earlier, RSA Security’s official and MIT professor, Ron Rivest, indicated that blockchain has interesting properties like immutable, public access and decentralization. However, it failed on scalability throughout and latency. Aside from that, its app was found to have leaked attendee data. RSA admitted that 114 names were accessed. However, the security firm took it as a serious issue.

He stated that there is an element of risk during the conferences when third parties get involved. He believes that no one could eliminate risk and that the objective should be how to compensate. He is only hoping to achieve that in an increasingly more complex world.

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Andri Triyanto

Andri has worked as a research analyst with a big equity analysis company. His perspective of looking at the market is unique. He senses an opportunity when it’s near. He stays well updated with the market happenings.