Corda Security Ontology: Example of Post-Trade Matching and Confirmation
Mubashar Iqbal, Raimundas Matulevičius · Baltic Journal of Modern Computing · 2020
Blockchain technology is ready to revolutionise the financial industry.The financial industry has various security challenges (e.g., tampering, repudiation, denial of service, etc).Also, the domain of information security has problems related to conceptual ambiguity and the semantic gap.The Corda platform provides suitable technological infrastructure to build the blockchain-based application (CorDapp) in the financial industry to overcome security challenges.In this paper, we build a Corda-based security ontology (CordaSecOnt) to improve the security of financial industry from an ontological analysis that combines blockchain-based Corda platform.We use Web ontology language (OWL) to build a semantic knowledge base to eliminate conceptual ambiguity and semantic gap in information security.Our ontology provides classifications of assets, security criteria, threats, vulnerabilities, risk treatments, security requirements, countermeasures and their relations.We evaluate the ontology by performing security risk management (SRM) of capital market post-trade matching and confirmation.