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

    9 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
    Country/TerritoryKorea, 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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