Risks and Mitigation
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1. Blockchain Risk
We are exposed to smart contract and value transfer risk considerations. Our mitigation strategy is to frequently consult subject matter experts, pay for audits, and avoid experimental chains and contract systems. On top of that, we will always send our contract codes for audits (typically with https://consensys.net/) before main-net deployment.
2. Off-Chain Web Development Risk
We are exposed to the risks of traditional web solutions. We mitigate these risks with cybersecurity assessments, access controls, source code testing and having server backups.
3. Regulatory Risk
There may be regulatory risks associated with the application use case, participants in the network and the cross-border implications between regulatory bodies. As SUBX PTE LTD is a registered company based in Singapore, we are to abide by regulations put forth by the Monetary Authority of Singapore (MAS). We will halt the offering of any products that we are in breach of MAS regulations and will consider applying for the necessary exemptions and licenses to continue offering the offending product.
As our blockchain products are mostly decentralized on the blockchain, existing customers will be able to self-host some of the web-facing infrastructures to continue using these products without interruptions. We will regularly consult law professionals to ensure we stay compliant.
Last modified 8mo ago