The introduction of blockchain technology into banks can be a threat to their security, since more than 70% of smart contracts are vulnerable to hacker attacks.
According to analysts, vulnerabilities can proceed from the relative novelty of technology for programmers, which leads to errors in the system itself.
It is noted that today blockchain is being introduced by many banks.
The threats warned by the researchers may be slightly exaggerated – most of the projects of banks related to the introduction of the blockchain are still at the stage of closed testing.
Recall, according to the report of the consulting firm McKinsey & Company, a huge number of financial institutions are extremely cautious about the blockchain. One of the main obstacles to the implementation of distributed registry technology in various processes is legal uncertainty.