Technology and Security Risk
Marizah Minhat, Mazni Abdullah, Nazam Dzolkarnaini, Noor Sharoja Sapiei · 2023
This chapter is concerned with the security and sustainability of the underlying cyber technology that provides support for cryptocurrency activities. Findings from interviews with a blockchain association and other stakeholders are reported in this chapter to reveal the uncertainty associated with the decentralised nature of governance infrastructure that has somehow relied on non-state norms and the technological robustness of key entities in cyberspace that are not necessarily legitimate to rule in a nation-state legal system. In addition, security risk and customer protection issues and challenges related to an intermediated solution for storing private keys referred to as a hosted wallet (by a digital asset exchange or a custodian) are discussed.