A cybersecurity control framework for blockchain ecosystems

This paper proposes a cybersecurity control framework for blockchain ecosystems, drawing from risks identified in the practitioner and academic literature. The framework identifies thirteen risks for blockchain implementations, ten common to other information systems and three risks specific to blockchains: centralization of computing power, transaction malleability, and flawed or malicious smart contracts. It also proposes controls to mitigate the risks identified; some were identified in the literature and some are new. Controls that apply to all types of information systems are adapted to the different components of the blockchain ecosystem

Security Threats Classification in Blockchains

Blockchain, the foundation of Bitcoin, has become one of the most popular technologies to create and manage digital transactions recently. It serves as an immutable ledger which allows transactions take place in a decentralized manner. This expeditiously evolving technology has the potential to lead to a shift in thinking about digital transactions in multiple sectors including, Internet of Things, healthcare, energy, supply chain, manufacturing, cybersecurity and principally financial services. However, this emerging technology is still in its infancy. Despite the huge opportunities blockchain offers, it suffers from challenges and limitation such as scalability, security, and privacy, compliance, and governance issues that have not yet been thoroughly explored and addressed. Although there are some studies on the security and privacy issues of the blockchain, they lack a systematic examination of the security of blockchain systems. This research conducted a systematic survey of the security threats to the blockchain systems and reviewed the existing vulnerabilities in the Blockchain. These vulnerabilities lead to the execution of the various security threats to the normal functionality of the Blockchain platforms. Moreover, the study provides a case-study for each attack by examining the popular blockchain systems and also reviews possible countermeasures which could be used in the development of various blockchain systems. Furthermore, this study developed taxonomies that classified the security threats and attacks based on the blockchain abstract layers, blockchain primary processes and primary business users. This would assist the developers and businesses to be attentive to the existing threats in different areas of the blockchain-based platforms and plan accordingly to mitigate risk. Finally, summarized the critical open challenges, and suggest future research directions

Cryptocurrencies and tokenization of assets: the managerial implications of a new financial reality

Cryptocurrency and tokenization of assets is a phenomenon that is yet to change many sectors in the economy. Already, its impact has had a significant effect on many financial markets. Cryptocurrencies are more than just a means of payment and transactions. The technology behind it, blockchain, has an even greater impact because it can be adopted even beyond the financial sector. The evolution of tokens and their popularity in the financial sector has had both positive and negative implications on the financial markets and companies. This research seeks to show the managerial implications of cryptocurrency and tokenization of assets. The present dissertation aims to address this gap because of the need for regulation of the sector. To understand the managerial implications of cryptocurrency and tokenization of assets, it is essential that we first understand what the two aspects are and how they operate. Later in this document, we shall observe that Bitcoin is currently the most popular cryptocurrency, although various types exist. At its inception in 2008, there were only about 50 coins in circulation, which has since evolved. Although blockchain technology had long since been invented, it only became popular with Bitcoin. The technology has three versions premised on virtual currency, smart contracts, and other sectors beyond finance and markets. This technology operates through complex algorithms and computers interconnected to minimize the possibility of fraud and hackings. Using companies like PayPal and eBay, valuable assets can be tokenized and traded as well. Blockchain is also popular for its ability to track records. The data is public and easily accessible. However, the privacy and anonymity of persons are also emphasized. Research was carried out using a qualitative method. This was done by reviewing and analyzing past literature on cryptocurrencies and their general impact on the economy. The pros and cons of using cryptocurrency were also examined to form a clear opinion on its economy usage. It was found that cryptocurrency and tokenization of assets guarantee security, are efficient for payment and promote transparency for business. However, it has limitations, such as the increased risk of fraudsters and illegal transactions

Decoding Cryptocurrency Taxes: The Challenges for Estate Planners

In this article, Angel explores the unique challenges of estate planning with cryptocurrency, which include accurately valuing those assets, preserving their value, and addressing the complex tax implications of transferring cryptocurrency to heirs

Virtual currencies : risks and regulations in Malta and other jurisdictions

Virtual currencies, in particular Bitcoin, have started to attract significant attention, following significant value fluctuations and a number of high profile scandals. This article provides an analysis of the key characteristics of virtual currencies, the risks they pose, and the response of regulators in Malta and elsewhere.peer-reviewe