Blockchain Useful, Not Without Issues, Says ISF

The Information Security Forum (ISF) released its latest briefing paper, Blockchain and Security: Safety in Numbers, which identifies security issues associated with developing and deploying blockchain applications.

The organization’s latest briefing paper is intended to aid those involved in blockchain deployment to better understand the benefits and risks of the main components of a blockchain network so that they can determine and then address security requirements by applying a secure systems development life cycle (SDLC) that supports live blockchain application, according to a May 8 press release.

While the assumption is that blockchain is secure because of its anonymity, the technology is not free from risks, which is why the briefing paper sets for the potential security issues that need to be considered before organizations rush to deploy applications using blockchain technology.

“Blockchain’s indelible and visible record provides many advantages. However, this record does not render blockchain immune from security issues,” said Steve Durbin, managing director, ISF, in the release.