SMART’s Comprehensive Disaster Recovery and Management Plan

What will happen when something unexpected knocks on your doorstep? There is no fancy jargon here, just a thought on why having a solid plan for when things go haywire is like having a superhero cape for your business.
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What will happen when something unexpected knocks on your doorstep? There is no fancy jargon here, just a thought on why having a solid plan for when things go haywire is like having a superhero cape for your business. Fear not, because we’ve got a secret weapon up our sleeves—SMART Exchange Disaster Recovery Plan. This blog explores a robust Disaster Recovery Plan (DRP) and an Immediate Action Plan for effective Disaster Management. We will delve into each crucial step, emphasizing the importance of preparedness and rapid response in the face of potential threats.

SMART’s Disaster Recovery Plan

Assemble Plan

The foundation of any effective disaster recovery strategy begins with a well-structured plan. This involves a comprehensive approach to identifying potential risks and outlining the steps necessary for recovery.

Identify Scope

Understanding the scope of potential disasters is essential. This step involves categorizing and prioritizing risks to determine the level of impact on business operations.

Appoint Emergency Contacts

Establishing clear lines of communication is vital. Appointing emergency contacts ensures that key personnel can be reached promptly during a disaster.

Designate Disaster Recovery Team

Forming a dedicated team for disaster recovery streamlines the response process. This team is well-versed in the DRP and ready to act when needed.

Assign Roles and Responsibilities

Defining roles and responsibilities within the recovery team is crucial for a coordinated effort. This ensures that each team member knows their specific tasks during a crisis.

Data and Backups Location

Safeguarding critical data is a top priority. Identifying secure locations for data storage and implementing regular backup protocols helps minimize data loss in a disaster.

Restore Technology Functionality

A key aspect of the recovery process is restoring technology functionality. This involves a systematic approach to bringing systems and applications back online to resume normal business operations.

Testing and Maintenance

Regular testing of the DRP is essential for its effectiveness. Periodic drills and simulations help identify any gaps or weaknesses, allowing for adjustments and improvements. Ongoing maintenance ensures the plan remains current and aligned with evolving business needs.

Disaster Management – Immediate Plan of Action

Email & SMS Notifications

Transparency is crucial during a crisis. Regular updates via email and SMS notifications keep all stakeholders, including platform users, informed about the recovery progress. Clear guidelines are provided to help users navigate any necessary actions.

Activation of Oracle Sadan and Sabha (DAOs)

In the face of a detected threat, the system automatically notifies Oracle Sadan and Sabha. These decentralized autonomous organizations (DAOs) can convene an emergency vote among members to assess the situation and make informed decisions.

Trade Suspension via Smart Contract Pause

Leveraging the capabilities of Oracle Sadan and Sabha, a smart contract pause is initiated, suspending all trades on the SMART platform. This swift action helps mitigate potential financial losses and protects the integrity of the trading ecosystem.

Data Backup and Restoration

Confirming secure data backup is critical. The restoration process begins from the latest clean backup, ensuring that the threat is not reintroduced during recovery. This step is crucial for maintaining data integrity and minimizing downtime.

Kalptantra is the world’s first regulated permissioned decentralized coalition blockchain/DLT that powers the SMART Exchange platform. This platform uses tokenization to allow investment in real-world assets in a secure, innovative, and user-friendly way. By making real estate investment more accessible, SMART Exchange aims to support specialized businesses. With its structured approach, strict security, and commitment to compliance, the platform offers an appealing option for diversified and efficient investing. Its regulation, security measures and focus on usability and compliance make it stand out as an accessible way to add real assets to an investment portfolio.

Conclusion

A well-crafted Disaster Recovery Plan combined with an Immediate Plan of Action is essential for businesses aiming to navigate the unpredictable landscape of real estate tokenization. Preparedness, communication, and swift response are key elements in ensuring business resilience and continuity in the face of unforeseen disasters.

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