Thales, a provider of cybersecurity and data security solutions, is integrating its nShield hardware security module (HSM) with Chain, a provider of enterprise-grade blockchain infrastructure.
The shared ledger model will offer the financial industry a new model for transacting between organizations that is more efficient and secure than legacy systems, according to Thales. Cost savings, faster transactions, and improved data quality add to the benefits of the technology.
Underpinning each blockchain is robust cryptography used to protect the data from fraud perpetrated by hackers.
Chain will use the Thales nShield HSM to generate and secure critical keys. With unique customer needs in mind, Chain developed the Chain Key Derivation algorithm using Thales CodeSafe technology.
Additionally, the solution incorporates robust cryptographic techniques, which securely and efficiently generate temporary one-time keys for each transaction.
“Blockchain is a game-changer in the financial services industry, with the potential to enhance security, speed and operational efficiency,” said Jon Geater, chief technology officer at Thales e-Security. “Our integration with Chain provides a strong root of trust and ensures the integrity of the underlying blockchain operations that enables allows organizations to build, deploy, and operate blockchain-based transaction networks with confidence.”
For more information about this news, visit www.thales-esecurity.com.