editor’s question
Secondly – the leadership
resiliency demanded
to effectively include
the business in the
domain of Blockchain
transformation.
PAUL POTGIETER,
MANAGING
DIRECTOR – UAE,
DIMENSION DATA
T
he world has been
captivated by the
technical potential,
associated risks
and business value
of Blockchain
technology.
Like all digital disruptive technologies,
the overall value that can be captured
from Blockchain is linked to numerous
challenges of how businesses sense,
seize and shift towards the value of it.
As a consequence, seizing the value
of Blockchain has become a central
focus at the highest level for many
organisations and governments. In an
increasing number of cases, the adoption
of Blockchain is introducing a dilemma
between two significant domains.
Firstly, it’s about the technical
robustness of Blockchain. For example,
the increasing use cases showcasing
Blockchain as the pragmatic digital
technology to achieve optimised
efficiency, operational agility and
commercial gains.
30
It is a database,
so where is
the concern
and value?
The Blockchain is
commonly known
as a decentralised
ledger which, by design,
introduces decentralised
trust due to removing
traditional intermediates from the
business value chain. However, this
also introduces a plethora of checks
and balances that allow for an increased
level of immutability. The shift in moving
from a central authority to a greater
user-based community trust brings into
question how businesses can leverage
Blockchain technology by limiting the
impact of privacy and security. In the
realm of decentralised trust, the notion
of security and privacy becomes a
pivotal linchpin to how Blockchain is
adopted in the enterprise.
In addition, how security teams prepare
themselves to not only react to the
compliance ramification but, more
importantly, shape that compliance with
the primary focus of protecting business
value and instilling long-term security
value to the business.
The realisation of
secure Blockchain
Ensure board and c-level
accountability: Blockchain is a strategic
imperative and must be on the boardroom
agenda. It has potential benefits
relating to brand reputation, regulatory
compliance, consumer markets and the
scalability of the business.
Position Blockchain as a business
enabler: It creates new business
opportunities and value. Transformation
and innovation initiatives can only
succeed when Blockchain is made a
strategic priority.
We must develop
ecosystems of
collaborators to
solve business
problems together.
Tie an organisation’s business and
Blockchain needs together: Identify
an organisation’s unique risk needs
and take advantage of standards,
controls and technologies which can be
integrated into the business.
Blockchain to secure the supply
chain: Security underpins society and
not just government, business and
individuals. Adversaries are probing
supply chains and seeking vulnerabilities
by association. Business operates in an
interconnected ecosystem and it’s far
easier for adversaries to compromise
less mature partners or vendors where
security may not be a strategic priority.
Apply the same best practice security
principles to an organisation’s trusted
partners and vendors. Seek assurance
that security has an executive focus and
that third parties adhere to regulatory
and legislative compliance
Collaborate and share intelligence:
Public and private sector collaboration
is essential to drive Blockchain
adoption, protect, for example GDPR,
and fight cybercrime. We must
develop ecosystems of collaborators
to solve business problems together.
Breaking down traditional silos within
organisations and creating a culture of
openness will be advantageous to all.
Blockchain and its influence on privacy
and security affect everyone and, if
organisations tackle these challenges
together, the benefits will be far greater.
Sharing intelligence and automating its
integration back into cyberdefences
raises the cost and complexity for threat
actors to operate. Intelligence sharing
shifts the economics of cybercrime back
into the defender’s favour. u
Issue 05
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