Recall Management

Definition ∞ Recall Management is a systematic process for addressing issues with products or services that require their retrieval or remediation from the market. This involves identifying affected items, notifying stakeholders, and coordinating corrective actions to mitigate risks. It ensures product safety and compliance with regulations.
Context ∞ While traditionally applied to physical goods, recall management principles are gaining relevance in the digital asset space, particularly concerning smart contract vulnerabilities or flawed decentralized applications. News may report on protocols implementing mechanisms for upgrading or halting faulty contracts, representing a form of digital asset recall management. This addresses the immutability challenges of blockchain technology.