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Blockchain risk management
Risk functions need to play an active role in shaping blockchain strategy
Is your organization prepared for the new risks posed by the introduction of a blockchain framework?
The successful adoption and operation of any new technology is dependent on the appropriate management of the risks associated with that technology. This is especially true when that technology is more than an application and is part of the organization’s core infrastructure, as is the case of Distributed Ledger Technologies (DLT). DLTs have the potential to be the backbone of many core platforms in the near future. DLT is a peer-to-peer (or machine-to-machine) value-transfer framework that provides Byzantine fault tolerance with distributed databases updated with a consensus mechanism. Every participant node has an exact copy of the data and a consensus protocol synchronizes the updates across participant nodes.