NRI Subsidiary Launches Blockchain Technology Assessment Service

A subsidiary of global consulting firm NRI has announced the launch of a new blockchain system assessment service.

Jul 21, 2017 at 4:45 p.m. UTC
Updated Sep 13, 2021 at 6:45 a.m. UTC

NRI SecureTechnologies, a cybersecurity subsidiary of Japanese information security provider NRI, has announced a new blockchain service.

But what separates this offering, according to the release, is that it is designed specifically for systems that use blockchain technology. More specifically, it will seek to analyze and simulate attacks on smart contracts, or self-executing code that runs on a blockchain.

The firms said in future phases, it will develop the service to be able to assess the overall architecture of a blockchain system, including its API, multi-signature wallets, key management systems and top-level applications.

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The need for such an offering can be seen as the broader industry responds to recent heists in the cryptocurrency and blockchain world.

Last year, for example, the infamous hack of DAO resulted in customers losing $60 million worth of ether, at the time through a coding error in the smart contract.

Further, just this week, CoinDash had 34,000 ethers stolen during its initial coin offering, and another hacker drained 150,000 ethers through a security bug in multi-signature wallet software offered by Parity Technologies.

The product launch also follows Japan's decision to regulate bitcoin as a legal payment method, a decision that made it the first country to put in place national rules for the industry.

Digital lock image via Shutterstock

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