Actu
Latest Information Security Forum Report Tackles Blockchain and Security
May 2019 by The Information Security Forum (ISF)
The Information Security Forum (ISF), trusted
resource for executives and board members on cyber security and risk management,
today announced the release of Blockchain and Security: Safety in Numbers. The
organization’s latest briefing paper helps those involved in blockchain deployment
to 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.
Often described in terms of anonymity and security, Blockchain is advertised as a
game-changer for businesses, governments and criminals alike. However, as
organizations rush to deploy applications based on blockchain technology, do the
potential benefits outweigh the information risks? While the more familiar
manifestations of blockchain - such as cryptocurrencies - are based on public
(permission-less) blockchains, private (permissioned) or federated blockchains are
increasingly of interest to organizations. Understanding the potential security
issues, and how they can be addressed, is vital for any organization planning to use
applications based on blockchain technology, especially considering a number of
well-known blockchain breaches within financial services.
"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. "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."
Blockchain introduces a relatively new concept based on trust in a distributed
network of participants, some of whom may not be known. Blockchain risks are
particularly acute considering that its security is built on assumptions that the:
* Content of the blockchain ledger is both immutable and irrefutable
* Underlying cryptography is secure enough to last the life of a blockchain
application
* Consensus algorithms are robust
As blockchain is put to different uses, it is vital to look beyond the hype and
understand its merits and disadvantages. After all, it may not always be the best
solution to a problem; directories, databases and other types of data store still
have value.
The ISF provides guidance to organisations on how to work effectively with
Blockchain, as well as covering all other areas of cyber security and risk
management. This research is complements a comprehensive suite practical information
security tools. Blockchain and Security: Safety in Numbers is available now to ISF
Member companies via the ISF website
