The OODA Looping Blockchain Series includes case studies on blockchain security initiatives and cybersecurity incidents. We tracked down the best research efforts and subject matter experts to explore how they “define and name” the formative questions around blockchain security, including the promises and perils in national security, cybersecurity, and health safety.
In April 2022, the crypto market was euphemistically described as “undergoing significant downward pressure” or “having had a very dark May” – while most proclaimed a complete crash. The WSJ stated in mid-May 2022 that $1 Trillion of Crypto Disappeared in Just Six Months – while still others argue that digital assets were overvalued and ripe for such a correction. Trust is at the heart of monetary systems, particularly in ecosystems designed for the capture, storage and transaction of value. Trust continues to be broken in the world of crypto, DeFi, and blockchain business models across various verticals – as security vulnerabilities and hacks continue to harm the technology.
The OODA Looping Blockchain Series
Blockchain security, national security, cybersecurity and health security
The RektTest, “On-Chain” Security Exploits, and the Future of Blockchain Development: A collaborative group of security researchers with Web3 expertise has produced a 12-question guide to the basics of Web3 security. This report captures these 12 questions and provides context around their optimal use.
NIST on blockchain and cybersecurity at the physical level (access control systems): NIST Computer Security Division, Information Technology Laboratory white paper on Blockchain for access control systems presents general information about blockchain access control systems from the perspective of blockchain system properties, components, functions and supports for access control policy models. Considerations on implementing blockchain access control systems are also included.
Security, confidentiality and interoperability: decentralized identifiers based on blockchain 1.0: Since 2020, the Institute of Electrical and Electronics Engineers (IEEE) Object Identity Working Group has been working with a global consortium on the development of the IEEE P2958 standard: “According to IEEE Object Identity Working Group Chair Dr. Xinxin Fan, researchers from Lockheed Martin, Ericsson, Lenovo, Huawei, Bosch, IoTeX and the Chinese Academy of Technology information and communications are developing global standards for blockchain-based decentralized identities (DID)…” after two years of research, the world’s six major companies provided the proof of concept of blockchain-based decentralized identification (DID) for IoT devices, which Dr. Fan launched in 2019 with the World Wide Web Consortium. (W3C).
Ronin DeFi Network Hack and Blockchain Analysis Techniques for Attribution: In early April 2022, we began our research and analysis on crypto and blockchain security initiatives. In our initial message, we explored recent blockchain bridge heists, growing national security concerns, and The Secure Blockchain Initiative at Carnegie Mellon. This article concerns a specific attribution that emerged around the giant $618 million hack of the Ronin network in March 2022, in which “hackers (stole) over $600 million worth of Ethereum (173,600 ETH) and 25 .5 million dollars of stablecoin pegged to the US dollar. USDC, making it one of the biggest decentralized finance (DeFi) hacks to date. The company, linked to popular blockchain game Axie Infinity, said in a Substack article that they suffered a security breach on March 23. Sky Mavis, a blockchain gaming company, built and controls the game Axie Infinity. (1) In April 2022, the The US Treasury awarded the Lazarus Group to the Ronin network heist.
TraderTraitor: North Korean state-sponsored APT targets blockchain companies: The Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), and the U.S. Department of the Treasury (Treasury) have issued this joint Cybersecurity Advisory (CSA) to highlight the cyberthreat associated with cryptocurrency thefts and tactics used by a North Korean state-sponsored Advanced Persistent Threat (APT) Group since at least 2020. This group is commonly tracked by the cybersecurity industry under the names Lazarus Group, APT38, BlueNoroff and Stardust Chollima. The US government observed North Korean cyber actors targeting various organizations in the blockchain technology and cryptocurrency industry, including cryptocurrency exchanges, decentralized finance (DeFi) protocols, cryptocurrency video games to earn, cryptocurrency trading companies, venture capital funds investing. in cryptocurrency and individual holders of large amounts of cryptocurrency or valuable non-fungible tokens (NFTs). They provide recommendations for mitigating attacks (OODA provides additional, more actionable context below).
In 2022: $1 Billion in Crypto-Blockchain Bridge Heists, Growing National Security Concerns and the Secure Blockchain Initiative: Blockchain in particular shows great promise for the future of identification and security protocols. For now, however, what outweighs blockchain’s potential cybersecurity applications is the conventional wisdom that the entire crypto ecosystem faces serious security challenges. middleware – and to growing direct security vulnerabilities in the design and architecture of the blockchain itself.
Blockchain technologies are the future of food safety and security: Thanks and thanks to the Blockchain Research Institute (BRI) based in Ontario, Canada, and the authors of this research. BRI allows a high percentage of its blockchain research, really interesting case studies with real-world applications to be distributed through a Creative Commons license. The first BIS report we are presenting as part of our research and analysis of blockchain technologies in the agricultural industry sector is a pilot project by Walmart in collaboration with IBM using IBM’s blockchain solution based on Hyperledger Fabric.
Additional Resources on the OODA Loop
Case studies on innovative blockchain technology (by industry sector): During the years 2022 and 2023, The OODA Looping Blockchain Series explored blockchain market disruptions and new opportunities created by blockchain technologies in the public and private sectors. Innovative efforts in blockchain technology (by industry sector) – with a focus on how blockchain enables new business models, opportunities to design innovative value propositions, and decentralized governance – are listed here. Industrial sectors include: The financial sector and the monetary system; The technology sector (semiconductor sub-sector); The automotive sector and the future of mobility; and The bioeconomy, biotechnology and health care.
On trust and zero trust: new trust paradigms, design of trust in systems and trustworthy AI: The future of trust is a broad research theme at OODA Loop, overlapping with topics such as the future of money (i.e. creating new mechanisms of value exchange, value creation and value storage systems – and the role that trust will play in the design of these new monetary systems). Likewise, notions of trust (or lack thereof) will impact the future of generative AI, AI governance (i.e. trustworthy AI), and the future of autonomous systems and exponential technologies in general. This article is a compilation of OODA Loop Original Analysis and OODAcast conversations regarding trust, zero trust, and trustworthy AI.
The future of the Internet, trust and Web3: data and digital sovereignty versus digital self-sovereignty: Charles Clancy, chief futurist at MITRE, and his co-authors of a recent report – “Democratizing Technology: Web3 and the Future of the Internet” – provide the best framework for a “robust, decentralized and democratized to the existing technology stack.” ” and “the establishment and advancement of alternative technological paradigms to protect the public interest by making authoritarian abuses difficult, if not impossible.”
For additional information on OODA Loop and original analysis on Blockchain technologies, see OODA loop | Blockchain