Blockchain-based multi-organizational cyber risk management framework for collaborative environments

Along with the increasing damage of cyberattacks, cyber risk management remains one of the most crucial proactive measures. Risk management aims to identify potential risks, evaluate their attributes, and implement countermeasures to reduce their damages. The cyber security industry and the research literature have established frameworks and platforms for cyber risk management. However, a risk management framework is required to ensure a practical and secure service for multiple collaborating organizations. In this paper, we overview numerous risk management frameworks and platforms established for various sectors. Then, we investigate the security issues facing the established platforms. After that, we propose a decentralized framework for cyber risk management using blockchain technology in order to serve multiple organizations including governmental ones. In addition, we present a proof of concept implementation using Hyperledger Fabric.