Risk Management to Cryptocurrency Exchange and Investors: Guidelines to Prevent Potential Threats

Chang Yeon Kim, Kyung Ho Lee

Research output: Chapter in Book/Report/Conference proceedingConference contribution

3 Citations (Scopus)

Abstract

Investment and interest in cryptocurrency is rapidly growing. The price of each bitcoin, in particular, has exceeded 10,000 dollars as of November 2017, so we do not know how long the uptrend will continue. Although blockchain technology is more open and security oriented than conventional currency issuing methods, it is relatively ineffective in terms of distribution and management of cryptocurrency. The most common way to get cryptocurrency is trading through exchange and mining, which novices sometimes invest in without sufficient knowledge. Therefore, this paper analyzes vulnerabilities of potential cryptocurrency exchanges and individual user wallets. Moreover, this paper will suggest policy risk management methods using international standards such as from NIST and ISO. Blockchain, weaknesses of countermeasures management system, countermeasures to deal with them, management vulnerability of investors and management plan. Server management plan and personal action tips will be provided.

Original languageEnglish
Title of host publication2018 International Conference on Platform Technology and Service, PlatCon 2018
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781538647103
DOIs
Publication statusPublished - 2018 Sep 25
Event2018 International Conference on Platform Technology and Service, PlatCon 2018 - Jeju, Korea, Republic of
Duration: 2018 Jan 292018 Jan 31

Other

Other2018 International Conference on Platform Technology and Service, PlatCon 2018
CountryKorea, Republic of
CityJeju
Period18/1/2918/1/31

Keywords

  • Blockchain
  • Cryptocurrency
  • Guidlines
  • Risk Management
  • Threats

ASJC Scopus subject areas

  • Safety, Risk, Reliability and Quality
  • Hardware and Architecture
  • Computer Networks and Communications
  • Computer Science Applications

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  • Cite this

    Kim, C. Y., & Lee, K. H. (2018). Risk Management to Cryptocurrency Exchange and Investors: Guidelines to Prevent Potential Threats. In 2018 International Conference on Platform Technology and Service, PlatCon 2018 [8472760] Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/PlatCon.2018.8472760