Hub Weekly Digest: NSA, Atomyze, Blockstation & More
Hub Security’s weekly digest covers top stories happening around the world related to blockchain, fintech, cloud and enterprise cybersecurity.
NSA Releases Cloud Vulnerability Guidance
Why It’s Important
For those already working in the cybersecurity space, this will strike some familiar themes. What is different with the cloud is that many responsibilities are shared with a third party, which means risk is also shared. This is reflected in the outline of the threat actors, which, aside from the usual malicious outside threats and insider threats, also includes threats at the cloud service provider (CSP) level.
There are four classes of vulnerabilities listed by the NSA: misconfiguration, poor access control, shared tenancy, and supply chain. The first two constitute the primary responsibility of the customer. The latter two are the CSP’s. Secure configuration and least-privilege access are key components of any security program.
The challenge when addressing these risks in the cloud is that the technology is rapidly evolving, opaquer, and often more complex than a traditional data center. The access controls can have a steep learning curve with various roles and levels that don’t always make clear the levels of exposure a service may have. (Source)
Atomyze Launches Industrial Asset Tokenization Platform
Why It’s Important
Atomyze tokenization platform uses distributed ledger technology to represent physical assets in digital form, making trading easier, providing faster transaction time and providing a permissioned view of transactions.
Major industrial partners of the company will be given access to the platform during the test phase. Among those invited to the test phase are Nornickel’s partners Trafigura, Traxys, and Umicore. Later on, its doors will open to other types of issuers and the platform will go into full commercial operation.
Atomyze services will also provide issuers with access to financing on efficient terms, introduce them to a new pool of investors, and provide issuers with an opportunity to make their operations more efficient. (Source)
Blockstation and Jamaica Stock Exchange Go Live with DSO Integration
In a pilot program that dates back to 2018, the Jamaica Stock Exchange and Blockstation were able to demonstrate the future potential of digital securities. Fast forward to 2020, and this relationship has paid dividends, as the pair has just announced the official launch of their new platform.
Through a series of services, Blockstation can host digital securities offerings (DSOs) for companies in search of capital through the Jamaica Stock Exchange. As a result, this capability brings Blockstation into rarified air, as they become one of very few tokenization platforms working so intimately with a traditional, regulated exchange. (Source)
What Blockchain-based Projects Need to Consider Before Writing a Single Line of Code
Why It’s Important
With the explosion of distributed ledger technology (DLT) as a safe and secure solution for transparently handling and sharing information across organizations, many businesses are jumping on the DLT bandwagon. Proponents of the distributed ledger technology known as blockchain consider it to be one of the best ways to secure transactions.
But while blockchains have many desirable features, such as transaction efficiency, there are still other conditions and requirements to consider when leveraging blockchain technology for business. The publication of DTCC’s most recent paper on the matter outlines key risks associated with the use of the nascent technology and an acknowledgment of the many security risks still associated with its use for both small businesses and enterprises alike.
The fact of the matter is, most don’t consider the fact that all blockchains aren’t created equal. It’s important for businesses to be aware of this fact when evaluating whether the technology they’ve chosen will have the proper security measures they require — both internal and regulatory. (Source)
3 Blockchain Security Risks To Consider Before Building a Blockchain-based Solution
Why It’s Important
The growing list of blockchain technology providers who have become victims of malicious hacks and attacks is starting to make many wonder if blockchain is really as secure as it’s made out to be. While industry experts continue to remind the public that DLT technology is eons beyond current data security solutions, many still believe companies should take extra precautions when safeguarding their data — especially on the cloud.
As more governmental, industrial, and commercial sectors adopt the use of blockchain and DLT-based technology, there’s a growing need for discussion. This post is intended to raise awareness of the risks still associated with the use of blockchain and Distributed Ledger Technology and what companies can do to keep their digital assets safe and protected. (Source)
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