We use cookies to ensure that we give you the best experience on our website. By continuing to browse this repository, you give consent for essential cookies to be used. You can read more about our Privacy and Cookie Policy.

Durham Research Online
You are in:

The seconomics (security-economics) vulnerabilities of decentralized autonomous organizations.

Massacci, F. and Ngo, C.N. and Nie, J. and Venturi, D. and Williams, J. (2017) 'The seconomics (security-economics) vulnerabilities of decentralized autonomous organizations.', in Security protocols XXV : 25th international workshop, Cambridge, UK, March 20-22, 2017 : revised selected papers. Cham: Springer, pp. 171-179. Lecture notes in computer science. (10476).


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.

Item Type:Book chapter
Full text:(AM) Accepted Manuscript
Download PDF
Publisher Web site:
Publisher statement:The final publication is available at Springer via
Date accepted:21 May 2017
Date deposited:30 January 2018
Date of first online publication:29 November 2017
Date first made open access:29 November 2018

Save or Share this output

Look up in GoogleScholar