Accenture has unveiled a patent-pending solution that simplifies the ability of blockchain technology to integrate with the industrial-grade security systems that support sectors, such as financial services, healthcare and government. The solution provides a developer-friendly interface between emerging blockchain platforms and widely used hardware security technology. Accenture cooperated with Thales — whose hardware is currently used by most major banks globally to secure records and assets from cybertheft — in order to develop the solution.
Hardware security modules (HSMs) are crypto-processors that securely generate, protect and store digital keys – cryptographic material that provide security and access to digitally-stored information. The keys stored in the Thales HSM architecture cannot be extracted or used except under a highly controlled protocol. The new solution is based on the market leading nShield HSM developed by Thales and creates a simple path to large-scale commercial use of blockchain technology.
Currently, blockchain-based systems typically rely on “cyberwallets” to store digital keys for blockchains. But because those keys typically reside on software servers, they can become vulnerable to network breaches, of the kind that have occurred on cryptocurrency exchanges in recent years. Accenture’s and Thales’s HSM solution makes it extremely difficult if not impossible for digital keys to be misappropriated because they are stored in physical isolation from IT networks and are architected with highly sophisticated, deterministic security mechanisms. In addition, the platform need only be installed once, allowing companies to secure each of their blockchain applications using the same solution—regardless of which blockchain software or application they use—versus crafting a code interface for each solution.
Full Article: Thales Group
Source : Thales Group