Assignment: Virtual Currency Applicability Report

As the exploration of emerging technologies continues within cybersecurity, this project investigates the phenomenon of virtual currency.

This report and accompanying formal business presentation should include research, supporting documentation, and recommendations for financial and cyber policy perspectives. Proceed to Step 1 and contact your CIO (the instructor) if you have questions or need additional guidance.

• Table of Content

• Executive Overview

1. To set the stage and address concerns expressed and implied by the assignment

2. This should include future opportunities and risks

• Introduction

• Virtual Currency Overview (2 pages)

1. Provide a two-page summary of the core concepts and developments in cryptography and cryptanalysis for the benefit of your financial audience from a cyber perspective and the financial implications of virtual currency.

2. An overall assessment of virtual currencies, the encryption technology, and the subsequent policy issues that might arise. Also, consider information assurance needs for the business.

3. Develop a spreadsheet, in the first column, list Bitcoin and other virtual currency options available, in column 2, list the corresponding encryption method for that specific virtual currency, in column 3, assess what characteristics or cybersecurity technologies used by that virtual currency that makes it unique, in column 4 assess policy constraints.

• Assess External Bitcoin and Block-Chain Technology Audit (3 pages)

1. Provide a three page of External Bitcoin and Block-Chain Technology Audit.

• Including a cross-functional analysis of block-chain and digital-currency technology alternatives in regard to technological capabilities, policy, and budget trade-offs relative to enterprise, national, and international restrictions.

• This should be directed to senior leaders about the pros and cons, the options, and the alternatives that would facilitate their strategic decision making in defense of cyberthreats.

• Develop a Virtual Currency Risk Mitigation Strategy (2 pages)

1. Provide a two report, consider risk management for virtual currency:

• Begin the process of addressing those risks from a strategic response perspective

• What direction will be taken in the event of one or more of the identified risks occurring?

• Digital Currency Applicability Report (10 pages)

1. Finally, provide recommendations on other issues that may have yet to be addressed. As the CISO, the primary issue and area of expertise is cybersecurity. Senior leadership is likely going to want answers to several questions, such as:

• Can we use an encryption technology without virtual currency?

• Has a cost-benefit analysis been conducted?

• What would be the impact on our customers?

2. Distinguish between the technology and policy issues that are involved.

• Categorize the risk as technical or policy.

3. Financial and policy questions must be addressed.

4. The report should provide a strategic approach to addressing these concerns.