A ‘Disaster Recovery Plan’ (DRP) is a documented, strategic procedure for an organization to resume mission-critical operations following an unplanned interruption, such as a cyberattack, natural disaster, or system failure. In crypto investing, where high availability and data integrity are paramount, a DRP safeguards trading infrastructure, custody solutions, and transaction processing capabilities.
Mechanism
A DRP specifies redundant systems, data backup protocols, and failover mechanisms for core trading engines, RFQ platforms, and wallet services. It outlines steps for data restoration, application recovery, and network connectivity re-establishment, often leveraging geographically dispersed data centers or cloud-based solutions. Regular testing of the DRP ensures its efficacy and the operational readiness of the systems and personnel involved.
Methodology
The methodology for developing a DRP in the crypto sector involves a comprehensive risk assessment to identify potential threats and their impact on critical systems. It includes defining Recovery Time Objectives (RTOs) and Recovery Point Objectives (RPOs) to determine acceptable downtime and data loss. This systematic approach ensures business continuity, minimizes financial losses, and maintains client trust during adverse events, adhering to robust operational resilience standards.
A Force Majeure clause excuses non-performance due to external impossibilities; an Event of Default penalizes non-performance due to internal breaches.
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