Allianz presents two new study series reports on cyber risks
The digital transformation is driving companies to invest in modern technologies such as blockchain and edge computing – with a view to efficiency and competitive advantage. However, anyone who wants to benefit from these innovative technologies must also keep an eye on their inherent security risks. That is why Allianz is today publishing two further reports in the Cyber Risks series.
Edge Computing and Cyber Security
Edge computing is revolutionising real-time data processing through decentralised data processing. Companies benefit from increased speed and efficiency, which represents a significant competitive advantage, particularly in industries where fast response times are crucial. The technology makes it possible to process data close to the source – an advantage that also brings new challenges in the area of cyber security.
Security aspects and liability issues: Since edge environments are decentralised, determining liability in the event of a security incident is often particularly complex. Companies must ensure that their security architectures are flexible and robust enough to adequately manage the specific risks posed by decentralised systems. This includes the need to develop individual security strategies and to always integrate the latest security updates.
Blockchain and cyber security
Blockchain technology, originally made famous by Bitcoin, is now widely used in numerous business processes. Its decentralised nature offers a variety of advantages, but it also requires specific measures to secure the digital infrastructure.
Recommended security measures: To ensure the integrity and security of blockchain applications, the report recommends, among other things:
- Regular code audits: Continuous code review allows vulnerabilities to be detected and fixed at an early stage.
- Multifactor authentication: This measure increases protection against unauthorised access by requiring multiple forms of proof of identity.
- Decentralised governance: Distributed decision-making reduces the risk of centralised vulnerabilities.
- Innovative security models: Alongside traditional security approaches, new security strategies should be developed that are tailored to the specific challenges of blockchain.
Conclusion
The new reports from Allianz make it clear: investments in future-oriented technologies such as edge computing and blockchain are essential to remain competitive in the digital age. At the same time, they urge caution – only through comprehensive risk management and the implementation of modern security measures can the potential of these technologies be fully exploited.
