A blockchain is a distributed ledger which maintains all transactions and assets and is updated by a number of counterparties. Financial institutions are investing in the technology – in what is hoped – to automate processes and remove “human” errors. This may help towards lowering transactional and operational costs by releasing the finance sector from its legacy systems. Despite the potential cost savings, it remains important to assess what the security implications of Blockchain implementations might be.
Source: Cybersecurity and digital privacy newsletter
Source: Privacy Online