School Papers

v the growing interest and investment in blockchain

v  Blockchains
technology is a shift from traditional single owner to distributed participants
in a business network

v  Blockchain
provides competitive advantage through private and pubic ledger based on the
permissions

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v  Blockchain
has the potential to enable faster processing and bring in automation of
transactions

v  From
start-ups to leading MNCs have begun to adopt the technology due to the
capability of improving operational efficiency via improved asset management
and transformed supply chain management and deliverySD1 

 

Market Trends:

v  According to world economic forum the growing interest and investment in
blockchain start-ups is estimated US$1.4B over the past 3 years


Blockchain technology is rapidly booming in
financial services sector with an estimate by IDC of at least 25% of global
banks to have blockchain in their production by 2019. Other sectors accepting
the technology are manufacturing, healthcare, retail and telecom.


Leading financial companies are adopting
blockchain by establishing lab set ups


Some of blockchain applications could be
distributed Internet of Things, Real-time transactions, Identity or record
verification, distributed cloud storage etc.

SD2 

 

v  With the technology growing so rapidly, there are many loop holes which
are being discovered on the go. Organizations implementing such solutions could
have infrastructure issues can be caused insecure blockchain technology.


Hacking, viruses, file corruption could lead
to theft of information


Some of the possible security threats could
be Illegal content in the block chain, dropping transactions, Spamming
transactions, Finney attack, Denial of Service (DoS) attacks etc. 


Recent blockchain hacks due to implementation
flaws-

        
i.           
Dec 2017: Cryptocurrency mining marketplace NiceHash has
been hacked

      
ii.           
Nov 2017:  Ethereum client bug
freezes user funds

    
iii.           
May 2016: ”51 Crew” attacked blockchain clones Shift and
Krypton and took control more than 51% of the network

SD3 

 

v  Aujas helps its clients address key security
issues in their digital business by creation of risk management postures to
address regulations & best practices in the industry.

v  It provides solutions to manage identities of people, business and
things.

v  Our digital security team helped customer to secure their business
application’s integration with various merchants and aggregators.

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