The seconomics (security-economics) vulnerabilities of Decentralized Autonomous Organizations

F. Massacci, C.N. Ngo, J. Nie, D. Venturi, J. Williams

Research output: Chapter in Book / Report / Conference proceedingConference contributionAcademicpeer-review

Abstract

© Springer International Publishing AG 2017.Traditionally, security and economics functionalities in IT financial services and protocols (FinTech) have been perceived as separate objectives. We argue that keeping them separate is a bad idea for FinTech “Decentralized Autonomous Organizations” (DAOs). In fact, security and economics are one for DAOs: we show that the failure of a security property, e.g. anonymity, can destroy a DAOs because economic attacks can be tailgated to security attacks. This is illustrated by the examples of “TheDAO” (built on the Ethereum platform) and the DAOed version of a Futures Exchange. We claim that security and economics vulnerabilities, which we named seconomics vulnerabilities, are indeed new “beasts” to be reckoned with.
Original languageEnglish
Title of host publicationSecurity Protocols XXV - 25th International Workshop, Revised Selected Papers
EditorsF. Stajano, B. Christianson, V. Matyas, J. Anderson
PublisherSpringer Verlag
Pages171-179
ISBN (Print)9783319710747
DOIs
Publication statusPublished - 2017
Externally publishedYes
Event25th International Workshop on Security Protocols, 2017 - Cambridge, United Kingdom
Duration: 20 Mar 201722 Mar 2017

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Conference

Conference25th International Workshop on Security Protocols, 2017
Country/TerritoryUnited Kingdom
CityCambridge
Period20/03/1722/03/17

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