Kaspersky to Enhance Blockchain Security of Firms in Italy

May 03, 2019 at 11:14 // News
Coin Idol
As Italy faces some problems with cybersecurity, the country's community might benefit from these new solutions.

Kaspersky Labs presented new service packages to help blockchain companies reinforce cybersecurity and spot fraudsters and attacks. As Italy faces some problems with cybersecurity, the country's community might benefit from these new solutions.

The cybersecurity company has rolled out some new service packages for firms which are dealing with cryptocurrency and other innovative technologies. The blockchain-related projects that require tokens and cryptocurrency exchanges will use these services to guard themselves against cyber-attacks.

Blockchain Market on the Positive Increase   

Businesses in the country have grown quickly in recent years and they contribute much to the Italian economy. The recent data from NetConsulting Cube, an ICT consultancy company, revealed that blockchain market in Italy doubled to make 31 million euros in last year and is expected to reach 54 million euros this year. A recent LinkedIn survey showed that blockchain and crypto developers are in high demand in the country.   

Despite the technology is regarded as more secure, it is still being threatened by attacks and other cyber security risks especially in cryptocurrency field this is due to the fact that the technology is still immature. For instance, Italy has already lost over 10 billion euros to cybercrime such as fraud, money laundering and others, so this new package from Kaspersky Lab could perhaps bring them some relief.   

Improving Cybersecurity Using Blockchain   

To help users and companies overcome these challenges, the cybersecurity company has come up with two service offerings that manage the functionalities of the business models plus the life cycle of the token and crypto exchanges. Token offer projects include: Smart Contract Code Review; detects defects and undeclared features, as well as discrepancies between supporting documents and the smart-contract business logic, and Application Security Assessment; helps a startup team to analyze the security status of applications (whether decentralized or traditional) developed by the startup itself.   

And to offer a concrete protection to crypto exchanges, the cybersecurity company provides a customized service, that contains: Application Security Assessment; to help cryptocurrency exchange owners detect critical bugs and deal with them before they cause damage, Penetration Testing; to support cryptocurrency exchanges in the detection of possible weaknesses within the systems and to ensure that cybercriminals cannot easily access them, and User Account Takeover Prevention; to detect any attempts to access user portfolios by malicious parties.   

Regulations Could Help Prevent Insecurity   

However, software is not the main way to protect the country from criminals and enhance security – effective regulation of the industry is also needed.  Several academic researches assume the main reason for numerous risks is weak regulations.   

There are a lot of academic papers in Italy which underline the risks associated with blockchain and cryptoassets, and they even indicate that there are numerous vulnerabilities created by dependence on DLT. The government has to wake up from the sleep and start pushing for the creation of a better crypto and blockchain regulatory framework.

Source text:  https://it.coinidol.com/kaspersky-blockchain-italia/

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