Chain Inc., a provider of blockchain networks, has integrated a hardware security module from Thale, a provider of data protection solutions. The goal
Chain Inc., a provider of blockchain networks, has integrated a hardware security module from Thale, a provider of data protection solutions. The goal is to generate and secure keys used for blockchain transactions.
According to the article published on cryptocoinnews.com, Chain developed its chain key derivation algorithm by the help of Thales CodeSafe technology that allows moving sensitive application within the protected perimeter of the FIPS 140-2 level 3 nShield hardware security module.
“As Chain takes blockchain networks to production, we’ve invested heavily in the secure generation and storage of private key material.”, said Ryan Smith, Chain’s chief technology officer.
“The Thales nShield HSM offers a fast and efficient way to derive new keys. In particular, we were very impressed with the HSM’s CodeSafe feature, which allows us to run security-critical code protected within the HSM boundary. It’s a natural fit.”, he added.
“Blockchain is a game changer in the financial services industry, with the potential to enhance security, speed and operational efficiency.”, commented John Geater, Thales e-Security chief technology officer.
“Our integration with Chain provides a strong root of trust and ensures the integrity of the underlying blockchain operations that enables organizations to build, deploy and operate blockchain-based transaction networks with confidence.”, he explained further.
Chain continues to expand, as the online media noted. Some of their clients are Nasdaq, Citi and Visa.
In September Visa rolled out VisaB2B as a team effort with Chain to challenge the SWIFT messaging network as the dominant method for making international payments.
Visa uses Chain`s software and the blockchain technology to enable banks to transfer value to each other using Visa rails.