Digital Transformation Challenges: The Cyber Security Threats of Cryptocurrency Technology Use

Abstract

Digital transformation is unstoppable and ongoing process that affects all segments of our everyday lives such as healthcare, banking and finance systems, public administration, or postal and logistics systems. One of the main engines of this process, among many, is the use of cryptocurrencies. Both of these concepts are usually addressed from the firm perspective, but they should be considered from the individual’s perspective as well. Cryptocurrencies recently face increased cyber security threats, thereby affecting the digital transformation and posing additional challenges to it. Therefore, this paper gives a brief overview of security threats and challenges characteristic for cryptocurrency technology today and discusses what can be expected tomorrow. We provide insight how these challenges can affect digital transformation process and propose ways to increase the level of protection for both individuals and organizations.