Blockchain is often seen as a game-changer for businesses, governments and criminals alike. But, as organizations rush to deploy applications based on blockchain technology, do the potential benefits outweigh the information risks?
The Information Security Forum (ISF) is releasing a new briefing paper aimed at boosting understanding of the technology.
It’s designed to help organizations understand the main components of a blockchain network, identify security issues associated with developing or using blockchain applications, address security issues in a structured manner by determining security requirements, apply a secure systems development lifecycle (SDLC) and support live blockchain applications.
“Blockchain’s indelible and visible record provides many advantages. However, this record does not render blockchain immune from security issues,” says Steve Durbin, managing director of the ISF. “Many of the security issues associated with developing and operating any application — such as managing an implementation, providing acceptable technical support and training staff — are still applicable to blockchain. The main security issues specific to blockchain relate to breaches of the integrity of the ledger and individuals performing malicious or fraudulent transactions.”