Managing Risks: Blockchain-Based Security of Higher Education Business Processes

Abstract

Over the past decades, there has been an increasing number of countries that have developed their technology security to provide better services to their citizens. Brunei is also one country that is heading toward that development, where we are now actively engaging in the transition phase to transform into digitalizing our system. The successful adoption and operation of any new system or technology depend on proper and appropriate management of the risks related to system technology, especially if the technology is more than just an application, and part of the core infrastructure of the organization. Thus, this chapter studies research objectives and proposes to draw conclusions on the relationship between risk management and data security achieved by the Brunei government institution for higher education based on blockchain. This study reveals and proposes a novel implementation of managing risk through blockchain-based security in the system. The key factor of implementing this study is through the interviews of employees of higher education. It was discovered that culture and strategy play a big role in ensuring the implementation ofrisk management in their system of blockchain-based technology. The capabilities ensure the business process runs properly during the process of implementation. Through proper implementation, it allows the organization to create innovative ideas to redesign their technology needs in an efficient way that matches their required needs and implements a successful system that allows to manage risk through blockchain-based security efficiently by distributed ledger technologies’ infrastructure.