Businesses pushing through blockchain-driven projects risk new cyber vulnerabilities with some financial services companies, in particular, “rushing” such technology before checking blindspots in security systems, warns RSA Security.
RSA said traditional security information and event management tools cannot baseline blockchain behaviours and risk handing hackers access to corporate networks.
“Opinions are mixed on whether blockchain is a flash in the pan, or the next major disruptor. However, there is evidence – particularly in financial services – that blockchain adoption is gaining momentum. If this is the case, then organisations need to be prepared for the impact this could have on their security operations teams,” said Azeem Aleem, global director of RSA’s Worldwide Advanced Cyber Defence Practice.
“As with any new technology, hackers will look for vulnerabilities in how businesses implement blockchain, if not natively within technology itself. Any disruption or security breach due to a blockchain vulnerability could have a serious impact on operations. Organisations must take a business-driven approach to this new risk, so that advancement in one respect does not create risks elsewhere that could hinder long-term progress,” Mr Aleem said.
Blockchain technology is largely untested for security. Mr Aleem said the technology’s use is “unchartered territory” that risks cyber breaches.
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