Blockchain and Cyber Risk: Identifying Areas of Cyber Risk and a Risk-Based Approach for Executives

Charla Griffy-Brown, Mark W. S. Chun (), Howard A. Miller () and Demetrios Lazarikos ()
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Charla Griffy-Brown: Pepperdine Graziadio School of Business and management
Mark W. S. Chun: Pepperdine Graziadio School of Business and management
Howard A. Miller: Pepperdine Graziadio School of Business and management
Demetrios Lazarikos: Pepperdine Graziadio School of Business and management

Chapter Chapter 15 in The Palgrave Handbook of FinTech and Blockchain, 2021, pp 327-343 from Springer

Abstract: Abstract Emerging Technologies such as blockchain, continue to transform businesses. Blockchain, or distributed ledger, continues to be deployed in the healthcare, energy, manufacturing, and financial services sectors. Given the disruptive nature of this technology, there is a strong business need to understand the cyber risk associated with blockchain. With this in mind, this investigation posed the following research questions: What are the risks associated with blockchain? How can these risks be evaluated and integrated into corporate decision-making? Multiple quantitative and qualitative methods were used to analyze the data and to identify trends. This analysis identified cyber risk, in the context of blockchain, using the simple and generally accepted definition of cybersecurity as confidentiality, integrity, and availability (CIA). Based on the results, a cyber-physical risk-based approach is presented which equips executives as they develop their thinking around enterprise cyber risk, particularly with emerging technologies such as blockchain.

Date: 2021
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DOI: 10.1007/978-3-030-66433-6_15

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