Technology Risks

Dependence on technology infrastructure and potential disruptions due to cyberattacks, system failures, or obsolescence could impact the project’s operations and investor access.

Mitigation

To mitigate technology risks, MEDRE will:

Preventative Measures

• Robust Infrastructure: Invest in a robust and reliable technology infrastructure with redundant systems, backup servers, and disaster recovery plans to ensure business continuity. This includes implementing load balancing for critical systems to distribute traffic across multiple servers, reducing the risk of downtime in case of a server failure. For virtualized environments, failover systems will be implemented to automatically switch to a redundant server in case of a primary server failure, ensuring continuous operation.
• Cybersecurity Measures: Implement comprehensive cybersecurity measures, including firewalls, intrusion detection systems, encryption, and multi-factor authentication, to protect against cyberattacks and data breaches. This includes utilizing Cloudflare’s services to enhance protection against DDoS attacks, web application attacks, and malicious bot activity, and incorporating IP blocklists from reputable threat intelligence providers to proactively block known malicious traffic.
• System Updates and Maintenance: Perform regular system updates, maintenance, and security patches to address potential vulnerabilities and ensure optimal performance.
• Compliance with DORA: Comply with the Digital Operational Resilience Act (DORA) to ensure high operational resilience standards and safeguard investor interests.

Detective Measures

• Technology Monitoring: Continuously monitor the technology infrastructure for any signs of system failures, cyberattacks, or performance degradation. This includes monitoring network traffic, system logs, and security alerts to detect and respond to potential issues proactively.

Corrective Measures

• Data Backup and Recovery: Maintain secure data backup and recovery procedures to prevent data loss and ensure business continuity in case of system failures.
• Technology Updates: Stay abreast of technological advancements and proactively update systems to avoid obsolescence and maintain a competitive edge.
• Disaster Recovery: In case of a major technology disruption, activate disaster recovery plans to restore critical systems and data and minimize downtime.