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TBG Security Releases Blockchain Security Testing Services to Reduce Cyber Risk

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TBG Security Releases Blockchain Security Testing Services to Reduce Cyber Risk

Powerful as blockchains may be, they are not immune to attack. The importance of testing the security of a blockchain before implementation cannot be underestimated.

PR Newswire

BOSTON, Aug. 29, 2018 /PRNewswire-PRWeb/ -- Cybersecurity consultancy firm, TBG Security (TBG), announces the availability of a new set of TBG services: Blockchain Security Testing.

These services provide TBG clients with practical security expertise to ensure their blockchain implementation is hardened against compromise, whether the threat agent is internal or external.

The Bright Future of Blockchain

Few in the technology industry are surprised that Blockchain is gaining momentum. Blockchain technology is much bigger than cryptocurrency. Indeed, some experts have predicted that blockchain will secure the internet.

The technology, when properly implemented, can strengthen confidence, provide greater transparency and improve lateral and vertical dissemination of information across authorized groups, both inside the firm as well as along the supply chain - the supply chain having been recently considered the biggest growing cyberthreat by surveyed IT professionals.

Adoption rates are encouraging. The European union blockchain observatory & forum recently published a report: Blockchain innovation in Europe. The site that both start-up and large corporates are actively considering blockchain technology integration into their systems:

"...about a quarter are based in the EU (among which the UK has the biggest share by far). Blockchain startups globally are working in a wide variety of industries, from supply chain and logistics to entertainment and gaming, with (perhaps unsurprisingly), infrastructure, exchanges, payments and financial services among those attracting the most attention. Blockchain is not just about startups, of course. According to one study, close to 60% of large corporates globally are either actively considering or are in the process of deploying blockchain technology. Among companies who have reached the proof of concept stage, the majority expect blockchain to be integrated into their systems by the end of 2018."

Industries such as finance, food and transport services, not to mention retail and corporate, are right now excitedly exploring the possibilities that blockchain technology may bring. In fact, Walmart, Nestlé SA, Dole Food Co., Driscoll's Inc., Tyson Foods Inc., and Unilever NV have teamed up with IBM to explore blockchain technology in terms of tracking food globally through its supply chain.

Kicking blockchain's cyber-tires

There is a concern that many burgeoning blockchain implementations are not being properly hardened against cyber compromise.

As the blockchain momentum builds, we can predict that cyber attackers will scour the technology and implementations for vulnerabilities, compromising data and disrupting services and operations.

13 percent of senior IT leaders already have clear and current plans to implement blockchain, according to IDG Connect research, but have these IT leaders consulted with blockchain technology security experts to ensure their plans won't introduce risk?

Kevin Gorsline, COO at TBG Security, warns that the bright future of blockchain could turn sour if we don't test and assess an implementation properly:

"Think of blockchain technology as tires. They save lives by providing grip in all weather conditions, ensuring the driver stays in control. We trust that they have been properly made and properly tested. Without testing, not only might they not do their job when you need it most, but faulty behavior might even introduce new unforeseen risks."
"It is absolutely essential that early blockchain adopters get security experts to assess the implementation - kicking the tires, so to speak," continued Gorsline.

Introducing TBG Blockchain Security Testing

TBG's Blockchain Security Testing is designed to evaluate every aspect of the Blockchain. From creating and implementing policies and system design to securing the blockchain itself.

TBG's testing approach is designed to ensure the Confidentiality, Availability and Integrity of the entire blockchain. In order to conduct a thorough assessment of the blockchain, TBG breaks down the activity into two phases, Discovery and Evaluation.

The Discovery phase first reviews the architecture and compliance implications to ensure it meets all criteria. The team then perform a readiness assessment, analyzing all the technical aspects of the blockchain application to ensure best practices and strong defenses.

The Evaluation phase effectively determines the maturity level against best practices and industry standards. Through network penetration testing, blockchain static and dynamic application testing, and blockchain integrity testing, the TBG technical team will identify any vulnerabilities and problems, ensuring they are addressed in the most efficient, effective and secure way.

Learn more at https://tbgsecurity.com/blockchain-security/

About TBG SECURITY
TBG Security is a leading provider of information security and risk management solutions for Fortune 1000 and Fortune 500 companies. Included in INC 5000 fastest growing companies, TBG designs and delivers cyber security solutions to work in harmony with existing operations. Companies depend on TBG services in areas including risk management, security strategies for compliance, cyber supply chain management, physical, network and application security, managed services, security policy, blockchain security and incident response.

 

SOURCE TBG Security

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