New service from bluedog will improve blockchain security

With use of blockchain now moving beyond Bitcoin into banking and the wider business arena, a new service will help users ensure the security and integrity of their systems.

The service from cybersecurity specialist bluedog Security Monitoring covers everything from auditing smart contracts to ensuring compliance with data privacy rules and 24/7 monitoring for servers which host blockchain networks.



bluedog’s service is suitable for a wide range of users including crypto exchanges, trading platforms and fintech firms as well as SMEs and corporates implementing blockchain for back office or supply chain functions or developing new business models. It will be led by Omar Khan, a blockchain and fintech specialist with over 20 years’ experience in IT.


Blockchain has the potential to transform banking and automate business operations by enabling different parties to transact online without the need for a middleman. However while the technology is inherently secure, there are known vulnerabilities in blockchain systems – not least the integrity of the smart contracts which dictate whether a transaction can take place.


Omar Khan explains: “Blockchain can replace entire business functions and dramatically reduce transaction times – but a system is only as good as the smart contract which underpins it. In a blockchain network, decisions once made by executives – such as whether a payment is made or a line of credit extended - now depend on a computer program.


“Therefore it is important that the coding accurately reflects the company’s policies and protocols and its unique business model. As blockchain systems are often built by external programmers and based on a standard template, this can be a real challenge.


“However mistakes can not only be costly – but as a company’s policies and protocols are at the heart of its value proposition and the way it differentiates itself in the market, there is also the risk it could lose its competitive edge. An audit by an independent team will help ensure the smart contract contains no oversights and that the business model has been interpreted to optimal effect.”


The bluedog team can also advise on compliance with data privacy rules such as GDPR or GRC, for example by making sure that personal data is protected and not linked to access keys. Meanwhile bluedog will offer its existing services including managed detection and response to safeguard blockchain networks.

Omar adds: “The more partners you bring into a blockchain network, the faster you can execute a trade, but operating in this type of online environment means companies are more exposed to risk. It makes cybersecurity all the more important, including use of a monitoring service which can detect unusual activity and alert partners to any breach of the system.”

AI is rapidly transforming small business operations across the UK, with a majority adopting it to...
Rackspace technology enhances its cyber defence centre with AI-powered tools, ensuring superior...
Unisys's report reveals the disconnect between ambition and IT preparedness and highlights the...
DXC Technology and Boomi partner to redefine enterprise automation with AI, focusing on...
As AI demands grow, decentralised energy solutions could be the key to overcoming grid delays for...
Explore how AI is transforming UK retail, balancing technological advancement with human oversight,...
Dealbooster Ai launches its intelligent virtual sales trainer to boost team performance using...
Xurrent unveils Sera AI, revolutionising IT operations by integrating real-time automation for MSPs...