Blockchain is proving to be an enabler of secure and transparent government transactions. As with any technology, as it gains traction it also gains scrutiny. Several laws and regulations have been introduced to ensure that risks associated with blockchain are understood and mitigated.
Recently, the Government Accountability Office issued a recommendation that the Securities and Exchange Commission and other federal financial regulators create a formalized coalition to coordinate the identification and addressing of blockchain-related risks. These risks could include security gaps resulting from old software, phishing schemes, speed of networks, and foreign access to sensitive data. Continue reading