Any new technology has trust implications, and blockchain is no different. Before companies can deploy blockchain applications at scale, they will have to learn to navigate a new world of digital risk. Enterprises will need a comprehensive controls framework to ensure their deployments will meet governance, risk management and controls requirements.
PwC Blockchain Risk and Controls Framework
We see three key issues that impact governance for blockchain applications, any of which could stall innovation efforts:
To establish an effective, efficient governance model for blockchain, innovators will need to implement an audit methodology and framework, often with supporting continuous audit software specifically designed for this groundbreaking technology.
Business Development, New Ventures, PwC US
A. Michael Smith
Internal Technology Audit Solutions Leader, PwC US