RT Vol XII: Chapter 4: Using Cryptocurrencies to Fund Small Business: Managing the Cyber Security Risks
From the Book: The Refractive Thinker® Vol XII: CYBERSECURITY


Summary

Every small business can use a good cyber security plan. The marketplace is full of professionals available to provide their cyber security services. Selecting a consulting service can be tricky. As an entrepreneur, one must have solutions to answer security questions to address technological liabilities. What is the difference between levels of cyber security services? If you are a do-it-yourselfer then one may ensure cyber security having the Internet and Google to search for low cost cyber security methods. Self-performing cyber security tasks can save a business some time and money, but is the business really protected from cyber-attacks? How does one measure the vulnerabilities of an online presence? Cyber security is a growing concern and a growing business in the digital world. Proper planning is a must-have to be effective. Cryptocurrency is gaining popularity, and soon small businesses can fund their activities using cryptocurrencies such as Bitcoin. The vulnerabilities of Bitcoin are as popular as the advantages of using digital cash. Most digital currency experts know about users that create Bitcoin can remain anonymous. This chapter analyzes existing research and shows opportunities to consult small businesses on mitigating cyber security risks if storing cryptocurrency in the future. Storing cryptocurrency is similar to storing live cash on the premises of a brick-and-mortar business. Though the currency is digital, proper preparation for securing the cryptocurrency should not be underestimated.
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