Security Challenges and Solutions of a Blockchain-Based Business
Blockchain is largely based on PKI (public key infrastructure) and some of the operational security challenges are due to its fundamental design. Transactions must be signed by a specific private key. To access a Blockchain data requires access to either the ledger file (stored on a number of servers) or access to the interface mechanisms placed over the Blockchain data. These interfaces are typically secured via a network credential system (linked to the corporate directory) or a custom password authentication mechanism.
These multiple security mechanisms have to operate without increasing the surface area for attacks while maintaining the security of a system that potentially contains data from other companies due to the consortium model that is typical of most BlockChain arrangements. Security mechanisms are the primary consideration when integrating highly secure, cryptographically-based BlockChain security protocols with other, potentially looser access and control rules in existing legacy systems.
In this presentation slide (Download here), I summarise the security elements Blockchain-based businesses need to worry about and potential security considerations. You can also watch the full video presentation here