BLOCKCHAIN TECHNOLOGY RISKS
OPERATIONAL AND IT RISKS
•Scalability
•Latency
•Integration with existing IT policies
INFORMATION SECURITY RISK
•Blockhain security risk assessments
•Focused consensus security risk
assessments
•Applicability to current information
security policy
THIRD PARTY RISK
•Understanding risk assessment
processes in seletcing a vendor and
selecting a consensus mechanism (e.g
ethereum, hyperledger, corda)
ALLIANCE PARTNERS
•Risk assessment of all
parties involved in the
blockchain alliance
FINANCIAL RISK
Understanding the risk assessment
around unauthorised transfers of
value within the blockchain and
associated controls.
STRATEGIC, POLICY AND
REGULATORY RISK
•Understanding how the solution fits into the
strategic goals of the firm
•Understanding how the solution complies
with policy and regulation
LEGAL RISK
•Assessing legality of smart contracts in
line with laws and regulations.
•Understanding legal contracts with
regards to alliance partners
IMMUTABILITY RISK
•Understanding how
incorrect data entries in
the blockchain will be
handled through policy
and procedures due to
the inherent immutability
of blockchain.
Technology is the great disruptor of all industries, and now it is the financial services industry that is feeling the impact. Technology is transforming the way financial service
providers operate as well as the services clients are looking for. BDO takes a proactive approach to exploring new business cases and technologies. We monitor the legislative
landscape in which financial service providers operate and help clients find solutions. Using the knowledge and resources of our extensive international network, our specialists
provide a wide variety of services to help clients focus on their core business and stay ahead of competitors.
Information technology is continuously evolving in fresh and innovative ways, providing businesses with the ability to streamline business processes, decrease operating costs and
increase competitive advantage through digital disruption. Our knowledge of emerging technologies allows us to provide governance, risk and compliance assurance on an array of
emerging technologies.
