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Blockchain alone is not of safety solves problems – BSI provides a sober diagnosis

the The Federal office for information security (BSI) explores in his latest report to a basic inventory of the development of Blockchain technologies. The aut

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Blockchain alone is not of safety solves problems – BSI provides a sober diagnosis
the The Federal office for information security (BSI) explores in his latest report to a basic inventory of the development of Blockchain technologies. The authority of the question of whether and how the Distributed Ledger solutions for the IT help safety, is working. The diagnosis of the report, like crypto-enthusiasts sober. The experts come to the conclusion that the Blockchain-use does not constitute a simple solution for the security problems of enterprises and institutions.

By David Barkhausen
24. May 2019BTC$8.077,00 3.69%part Facebook Twitter LinkedIn xing mail

With its promise of transparency and manipulation have become more and more Distributed Ledger technologies have become the industry explosive trend topic. Not only the financial sector but also research, business and government seem to focus their eyes these days on the new technologies. Wherever one looks, everywhere one seems to check their application for, or to discuss at least.

The Federal office for information security (BSI) ventures into this week, now on a basic inventory of the development of Blockchain-based solutions. In a press release dated Thursday, may 23. May, is, wants to bring the Cyber-defense authority to the potential users of the technologies and weaknesses close. In addition, you want to point out to developers on key sites.

After the Bonn's have in the past already several times with Blockchain technologies are set apart, dedicated to the Federal office here, now, in Particular, the investigation of the field of IT security. Here, the authority draws a sober conclusion.

BSI: block chains have important advantages, but also many stumbling blocks

confirmed on the one Hand, the Blockchain-analysis enthusiasts, the hopes and the views of many crypto. The report in block chains compared to the classical Central databases, in principle, important advantages. In the points of availability and robustness in the face of abuse about having a Distributed Ledger solutions remarkable benefits.

on the Other hand, however, would the technologies in the areas of confidentiality and at the same time, often highlighted in efficiency of ground-breaking hurdles stand in the way. The legal Status of the technology applications such, for example, compared to the European data protection-wide basic regulation (DSGVO) or, in the case of Smart Contracts, is largely unresolved. In addition, the report diagnosed the current state of development of well-known technical problems such as limited scalability, high power consumption, as well as the lack of common industry standards. This would be the efficient use of the technologies in the way.

In Particular, the consensus mechanisms of the Bitcoin Blockchain would also meanwhile, a large attack surfaces for hackers, and Manipulation of offer. All of these points, it is important to draw on the part of interested decision-makers in the discussion of the technologies considered.

Holistic defense strategies

For the IT-security according to the BSI, is much more important that companies protect generally against attacks. For this purpose it is necessary, for example, in your data organization is well-known stumbling blocks and weaknesses in Hard - and Software out of the way.

As with many issues with high media attention, it is important to keep the discussions to the Blockchain the reference to the technical fundamentals. The use of Blockchain alone doesn't solve IT security problems. A number of security incidents with millions of dollars of damage show that measures for the preparation of IT-security are also by use of the Blockchain obsolete,

explains BSI-President Arne Schönbohm and points to the recent Hacker attacks on crypto-exchanges around the world. This recently had to cope with record losses. Alone the crypto-exchange Binance had lost in consequence of an attack at the beginning of the month, more than 7,000 Bitcoin (just under 50 million euros).

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