Many organizations and supply chain solutions are exploring blockchain and distributed ledger technology (DLT) to drive cost efficiency, better product offerings and new market creation. The extent to which this new technology realizes its potential for organizations greatly depends on how well supply chain actors steward its deployment and development.
Due consideration should be given to the critical success factors of deployment. Security is an enabler, not a disabler. It is one of the foundations of digital trust and leads to sustainability by increasing immunity to cyberattacks. Securing an organization’s blockchain solution is also critical to ensure that the benefits of blockchain technology remain inclusive.
Continuing the series, this white paper looks at one of the critical success factors of deployment – blockchain cybersecurity. The paper explores the considerations, proposed principles and recommendations for supply chain organizations and governments in managing the growing complexity of the security of blockchain solutions in support of global trade. It starts from the premise that an organization has already assessed whether there is a real business need to use blockchain.
This is the fifth white paper in a series and part of a broader project focused on the co-creation of a toolkit to shape the deployment of distributed ledger technology in supply chains towards interoperability, integrity and inclusivity. This paper aims to articulate, in simple terms, important blockchain and distributed ledger technology concepts as they relate to cybersecurity considerations.
Adrien Ogée, Lead, Technology and Innovation, World Economic Forum (Centre for Cybersecurity), Switzerland
Soichi Furuya, Senior Researcher, Hitachi (and World Economic Forum Fellow), USA
Nadia Hewett, Project Lead Blockchain and DLT, World Economic Forum (Centre for the Fourth Industrial Revolution), USA