SEMAFOR 2026: blockchain without magic or panic
At SEMAFOR, Małgorzata Michniewicz looked at blockchain through an auditor’s eyes. No promises of perfect technology, and no pretence that banning everything is the answer.
On 16–17 March, Małgorzata Michniewicz spoke at the 19th SEMAFOR IT Security and Audit Forum. Her talk was titled “Digital safe or black box? An auditor’s guide to blockchain risks”.
The title captured the starting point. Blockchain is still often discussed in one of two modes: as technology that solves the problem of trust, or as a black box best left alone. Audit begins somewhere between those extremes.
Three places to look for risk
During the talk, Małgorzata organised the subject around where risk actually arises:
- on-chain – an immutable record is not necessarily a correct one,
- off-chain – keys, wallets, integrations, oracles and people,
- smart contracts – code and process need to be assessed separately.
That may be less dramatic than a story about a technological revolution, but it is far more useful to anyone expected to issue an opinion, plan an audit or explain risk to the board.
SEMAFOR was a good opportunity to connect the world of technology with the language of audit and compliance. No magic. No panic. Just questions people could take from the room straight back to work.