
handle: 11572/196583 , 11573/1070759
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.
Decentralized Autonomous Organizations; FinTech; Seconomics vulnerabilities; Security protocols; Theoretical Computer Science; Computer Science (all)
Decentralized Autonomous Organizations; FinTech; Seconomics vulnerabilities; Security protocols; Theoretical Computer Science; Computer Science (all)
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