Recent Survey Reveals 80 Percent Of Companies Are Interested In Bitcoin

Not long ago, a new survey was done and it indicates that up to 80 percent of companies worldwide are interested in bitcoin.

The survey not only shows that 80 percent of companies are interested in enabling bitcoin in order to economize on transactions cost and also decrease dependence on systems that are firmly established and difficult to change. With such a high percentage most companies are still worried about using bitcoin with its history of being hacked all the time.

The Neustar International Security Council, an elite group of select cybersecurity leaders across key industries and companies conducted the survey. The Neustar International Security Council was established in May of 2017 by Neustar Inc. (NYSE: NSR).

The survey reported that there is a lot of enthusiasm among companies to accept the use of bitcoin in the business sector. As stated in the survey 80 percent of companies are eager to start using cryptocurrency for transactions. Furthermore, among those respondents to the survey, 48 percent of them stated that the use of cryptocurrency could be a way for their businesses to generate income through delivering increased value.

However, there is also bad news with 80 percent of the respondents to the survey were worried about the high liability to Distributed Denial of Service attack, in short DDoS, after opening up to bitcoin. Another 26 percent of the respondents had different views and stating that there was a greater risk to business by cryptocurrencies used for ransom attacks. An online media company Bitcoin.com reported that a month ago it discovered that regardless of security concerns, up to 50 percent of big-name UK organizations hold stockpiles of cryptocurrency for several reasons already.

Now that these day cybercriminals use ransomware to obtain bitcoin by force. That has been the main reason why companies are hesitant to use bitcoin since now cybercriminals are equipping themselves with highly developed attacks like ransomware.

Rodney Joffe, the Senior Vice President of Neustar Inc. and also serves as the President of Centergate Research Group, a research group of entrepreneurial developers and engineers.

Rodney Joffe stated that 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 a financial threat.