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The seconomics (security-economics) vulnerabilities of Decentralized Autonomous Organizations

Massacci, F.; Ngo, C.N.; Nie, J.; Venturi, D.; Williams, J.

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Authors

F. Massacci

C.N. Ngo

J. Nie

D. Venturi



Contributors

F. Stajano
Editor

J. Anderson
Editor

B. Christianson
Editor

V. Matyáš
Editor

Abstract

Traditionally, security and economics functionalities in IT financial services and protocols (FinTech) have been perceived as separate objectives. We argue that keeping them separate is a bad idea for FinTech “Decentralized Autonomous Organizations” (DAOs). In fact, security and economics are one for DAOs: we show that the failure of a security property, e.g. anonymity, can destroy a DAOs because economic attacks can be tailgated to security attacks. This is illustrated by the examples of “TheDAO” (built on the Ethereum platform) and the DAOed version of a Futures Exchange. We claim that security and economics vulnerabilities, which we named seconomics vulnerabilities, are indeed new “beasts” to be reckoned with.

Citation

Massacci, F., Ngo, C., Nie, J., Venturi, D., & Williams, J. (2017). The seconomics (security-economics) vulnerabilities of Decentralized Autonomous Organizations. In F. Stajano, J. Anderson, B. Christianson, & V. Matyáš (Eds.), Security protocols XXV : 25th international workshop, Cambridge, UK, March 20-22, 2017 : revised selected papers (171-179). https://doi.org/10.1007/978-3-319-71075-4_19

Conference Name 25th Cambridge International Workshop on Security Protocols
Conference Location Cambridge, England
Start Date Mar 20, 2017
End Date Mar 22, 2017
Acceptance Date May 21, 2017
Online Publication Date Nov 29, 2017
Publication Date Nov 29, 2017
Deposit Date Jan 29, 2018
Publicly Available Date Mar 28, 2024
Pages 171-179
Series Title Lecture notes in computer science
Series Number 10476
Series ISSN 0302-9743,1611-3349
Book Title Security protocols XXV : 25th international workshop, Cambridge, UK, March 20-22, 2017 : revised selected papers.
ISBN 9783319710747
DOI https://doi.org/10.1007/978-3-319-71075-4_19
Public URL https://durham-repository.worktribe.com/output/1146059

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