Blockchain Security as “People Security”: Applying Sociotechnical Security to Blockchain Technology

The notion that blockchains offer decentralized, “trustless” guarantees of security through technology is a fundamental misconception held by many advocates. This hampers participants from understanding the differences between public and private adopting blockchain in suitable contexts. paper introduces “people security” to argue hold inherent limitations offering accurate people as blockchain-based infrastructure, due differing nature threats reliant on secure digital well technical different types architecture. applies sociotechnical framework assess social, software, infrastructural layers applications reconceptualize “blockchain security.” A analysis existing macrosocial level systems surfaces discrepancies technical, network, governance decisions characterize expectations of, to, using network. results identify number trust assumptions against various architectures, participants, applications. Findings indicate have serious for securing interests users contexts, their centralized nature. In contrast, reveal shortcomings at micro meso-organizational levels, yet there lack desktop case studies which analyze level. These need be further investigated addressed order more accurately provide security”.