TY - GEN
T1 - The seconomics (security-economics) vulnerabilities of Decentralized Autonomous Organizations
AU - Massacci, F.
AU - Ngo, C.N.
AU - Nie, J.
AU - Venturi, D.
AU - Williams, J.
PY - 2017
Y1 - 2017
N2 - © 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.
AB - © 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.
UR - https://www.scopus.com/pages/publications/85037849443
UR - https://www.scopus.com/inward/citedby.url?scp=85037849443&partnerID=8YFLogxK
U2 - 10.1007/978-3-319-71075-4_19
DO - 10.1007/978-3-319-71075-4_19
M3 - Conference contribution
SN - 9783319710747
T3 - Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
SP - 171
EP - 179
BT - Security Protocols XXV - 25th International Workshop, Revised Selected Papers
A2 - Stajano, F.
A2 - Christianson, B.
A2 - Matyas, V.
A2 - Anderson, J.
PB - Springer Verlag
T2 - 25th International Workshop on Security Protocols, 2017
Y2 - 20 March 2017 through 22 March 2017
ER -