Cybersecurity Outlook in 2022
Written by EmergentX Insights team
February 25, 2022 | 1 Min
Highlights
- Cybersecurity is increasingly critical in the digital asset space which has become
easy targets for cyber attackers. - Reliance on private keys and centralization of some digital asset exchanges
become the vulnerabilities that expose digital assets to cyber-attack risks. - In the future, the emergence of innovations in cybersecurity solutions help protect
stakeholders from the cyber-attacks and avoid potential loss.
Core thesis
Cybersecurity is the means of protecting networks and data from cyberattacks through
practices of ensuring confidentiality and integrity of information.
The phenomenal growth of the digital asset space has made projects and chains easy
targets for cyber attackers. The sector’s reliance on private keys and certain centralized
solutions has exposed vulnerabilities to cyberattack risks, further exacerbated by
regulators’ limitations in preventing cybercrimes.
Significance and Disruptive Impacts
The digital asset industry will increasingly emphasise cybersecurity, with broader
mainstream adoption and regulators’ calls for investor protection. To this end, all
stakeholders – innovators, institutions, regulators – will join forces to integrate and adopt
next-gen cybersecurity protocols.
Expectation for 2022
- CeFi and DeFi will join forces
Increasing awareness – As cybersecurity is one of the key prerequisites for the
mainstream adoption of digital assets, DeFi, CeFi and governmental institutions
will join forces to bolster cybersecurity. - New cybersecurity solutions will go to market
2022 could see the release of new cybersecurity frameworks and solutions that
are customized for digital assets. In the future, strengthened cybersecurity
alliances, enhanced cybersecurity insurance coverage and solutions will further
safeguard the interests in the digital asset ecosystem and enhance users’
confidence. - …Driven by end-market demand
This is especially true if decentralised protocols are positioned to continue to
attract interest from traditional finance, which places a significant premium on
security. This could incubate a crypto-security sub-ecosystem that grows
alongside the broader digital asset industry. Cybersecurity should be considered
as important as product innovation in digital assets.
EmergentX Digital Asset 2022 Outlook
Year of Consilience
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