As explained by a major IT agency for the European Union, financial companies should be careful to blockchain cybersecurity issues if they want to implement the blockchain.

The European Union Agency for Network and Information Security (ENISA), in fact, published a new report on the distributed ledger, highlighting the security issues that large companies might experience if they decide to adopt blockchain tech.

Key management, data privacy and smart contracts are some of the most important topics discussed in the ENISA report.

This is the first time the agency, created back in 2004, published a report on the technology. Last year, ENISA published a glossary on its official website.

On the page there was an overview of blockchain, saying “it is too soon to tell whether blockchain will live up to its promise”.

According to this newest report, financial businesses should give high attention to security issues.

Udo Helmbrecht, executive director of ENISA, explained in an official statement:

“Cybersecurity should be considered as a key element in the blockchain implementation by financial institutions.”

Code review and mechanisms for accessing to distributed networks should be important, commented the report. Also it highlights that banks and financial institutions should think about the blockchain cybersecurity challenges of handling digital asset wallets.

Click on the link below to read the full copy of the report:

WP2016 3-1 4 Blockchain Security by CoinDesk.

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