A Web3 executive believes that the recent data breach at multinational telecommunications company AT&T could have been avoided if the data were stored on the blockchain.
On July 12, AT&T disclosed in a filing with the United States Securities and Exchange Commission (SEC) that an investigation revealed a breach compromising customer data.
The attackers accessed and copied call logs stored with a third-party cloud provider. The data included records of calls, texts, and phone numbers.
Although the content of communications was not compromised, the company fears that hackers could use tools to link phone numbers to customer identities.
Tim Kravchunovsky, founder and CEO of the decentralized telecommunications network Chirp, highlighted the vulnerabilities in the networks people rely on most.
He emphasized that this was the second breach report, suggesting such incidents are “becoming the rule, rather than the exception.”
He also noted the delay in reporting the breach. Kravchunovsky said:
“It’s also concerning that it takes more than two years to report these breaches, so there is no guarantee something similar isn’t happening right now.”
He warned that millions of customers could be at risk as hackers might identify their homes, workplaces, and connections, making them more susceptible to fraud.
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Kravchunovsky argued that current technological solutions are insufficient and new ones are necessary.
He believes the odds of a breach would be “much slimmer” if AT&T’s data were on the blockchain. Kravchunovsky stated that blockchain technology and AI can create more secure databases.
“Storing the data on an immutable ledger and tracking threats in real-time allows for a rapid response before a breach occurs,” he added.
Kravchunovsky explained that decentralized solutions, such as physical infrastructure networks (DePIN), routinely protect large data streams from cyber threats.
While Web3 technology cannot guarantee the prevention of all breaches, he believes it significantly reduces the risk. He explained:
“Of course, there’s never a guarantee that a breach like the one reported by AT&T couldn’t happen if the data were stored on the blockchain, but the odds are much slimmer.
Plus, blockchain is transparent, so it’s impossible to hide such breaches for two years.”
Kravchunovsky concludes that with today’s technology, such breaches are “inexcusable.”
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