Blockchain is seen as the revolutionary new technology. Blockchain, or Distributed Ledger Technology (DLT) enables multiple parties in a value chain to efficiently work together without costly reconciliations.
Many business are focused on ‘how’ to use blockchain for business. Because the proof of concepts move towards practical implementations, and cyber threats rapidly grow in number and sophistication, it is also important to ask: ‘Is blockchain secure for my business?’.
Because many businesses are optimistic about the opportunities of blockhchain, KPMG has now developed a blockchain maturity model that helps to get a grip on the specific risks associated with blockchain implementations. These risks are divided between eight risk areas:
For each risk a number of controls have been defined to measure the maturity on the specific risk. These controls are held against the benchmark scores in order to develop a thorough understanding of which risk areas are most important.