BlockCypher, a provider of Blockchain Web Services™, has announced the release of its Analytics API to help institutions combat cybersecurity thefts and comply with regulations. The average cost of a data breach to an organization is now $4M, up 29% since 2013. Most of these data breaches are caused by malicious or criminal attacks. According to the FBI, ransomware is on track to be a $1 billion crime this year. By industry, financial and healthcare organizations pay the most per capita for data breaches.
Catheryne Nicholson, BlockCypher Founder and CEO, said: “Everyone is getting hacked – individuals, schools, race car drivers, start-ups, institutions, etc. – and hackers are wanting their ransoms in Bitcoin. Bad guys are always early adopters of new technology. To combat it, institutions have to be more forward-looking in using technology instead of constantly patching legacy infrastructure.”