Blockchain is only as secure as a company’s underlying cybersecurity practices, according to Rocco Mancini, vice president, Marsh.
Speaking on a session covering blockchain in insurance and captives at the World Captive Forum 2019, Mancini broke down blockchain and disproved some misconceptions of the technology.
On the issue of security, Mancini highlighted the sensationalist media coverage of blockchain losses, especially related to bitcoin, and said that “the majority of blockchain losses are caused by poor cybersecurity practices”.
He added: “I can never emphasise this enough, blockchain is only as secure as underlying cybersecurity practices.”
“Having set practices and secure guidelines should mean good security.”
