Blockchain offers unprecedented opportunities for innovation in financial transactions. A whole new world of opportunities for banking, lending, insurance, money transfer, investments, and stock markets awaits. However, the potential for wide-scale adoption of blockchain is hindered with cybersecurity and privacy issues. We provide an overview of the risks and security requirements and give an outlook for future research that could be helpful in solving some of the challenges. We also present an approach for policy specification and verification of financial transactions based on smart contracts.
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Ünal et al. (2019) studied this question.
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