Advancing Blockchain Cybersecurity: Technical and Policy Considerations for the Financial Services Industry

“Advancing Blockchain Cybersecurity:
Technical and Policy Considerations for the
Financial Services Industry”

Blockchain is a powerful innovation that is poised to bring substantial positive change to the financial services industry as well as many other industries. Despite such promise, blockchain, like any emerging financial services technology, must be evaluated from the perspective of cybersecurity risk – both to an individual financial institution and to the broader and interconnected financial services industry – because cybersecurity is a primary concern to policymakers and financial institutions.

This whitepaper explores the relationship between cybersecurity and blockchain technologies deployed in the financial services industry. The paper’s objectives are to educate policymakers and financial industry participants about how blockchains may fit within broader cybersecurity objectives, create a shared understanding of some of the cybersecurity considerations and risk inherent to blockchain, and form recommendations for policymakers and industry to facilitate blockchain innovations that address extant and emerging cybersecurity threats.