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Secure Distributed Ledger Technology Framework for Financial Institutes

Secure Distributed Ledger Technology Framework for Financial Institutes

Blog Article Published: 08/03/2021

Last updated: February 25, 2022

Distributed ledger technologies (DLT) introduce a multitude of value propositions for the financial services industry. The pace of innovation is aggressively picking up in use cases pertaining to finance such as digital assets, tokenization and cryptocurrency. However, the security measures are significantly inadequate to support innovation. There is a growing need for increased vigilance and an industry-standard security framework.

DLTs will become the next battleground for hackers. Companies using DLT need to show security leadership, not only for customer confidence, but also because it literally will be where all the value is stored and processed.

Ask five DLT experts what the term “decentralized” means and you’ll get six answers. Not only are there no widely accepted security frameworks for DLT, there isn’t even a widely accepted vocabulary. Now is the time for a DLT security framework that is both vendor and platform-agnostic.

DTCC and CSA have launched an initiative to work together to address this gap. So far, the working group has identified a vendor-agnostic, standard DLT framework for the financial industry. This framework provides strong DLT security for all participants in the financial services industry regardless of platform. It will promote a common vernacular, accelerate adoption, avoid pitfalls and ensure interoperability between multiple DLT implementations. By developing this standardized approach, the financial services industry has the opportunity to define and share a common approach to DLT security. This will be a multi-year, multi-publication effort. You can view the papers that have already been published and the list of papers being worked on below.

Documents in the Series

PublishedRelease Date
Crypto-Asset Exchange Security Guidelines04/13/2021
Hyperledger Fabric 2.0 Architecture Security Report06/28/2021
Hyperledger Fabric 2.0 Architecture Security Controls Checklist06/28/2021
Top 10 Blockchain Attacks, Vulnerabilities & Weaknesses09/27/2021
Corda Enterprise 4.8 - Architecture Security Report12/15/2021
Corda Enterprise 4.8 - Security Controls Checklist12/15/2021
Blockchain/Distributed Ledger Technology (DLT) Risk and Security Considerations02/16/2022
Upcoming Publications
Release Date
Smart Contracts Security Best PracticesTBD

Join this Group

If you are interested in contributing to this project we encourage you to join our Blockchain/Distributed Ledger Technology Working Group. You will need to first create an account on Circle, CSA’s community platform to join. If you have any questions please contact [email protected].

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