France-based cyber-defense giant Thales has teamed up with Chain, a U.S.-based provider of enterprise-grade blockchain infrastructure that enables organizations to build breakthrough financial products and services.
According to the official release, Thales’ market-leading nShield hardware security module (HSM) will be integrated with Chain. The security of a blockchain depends on the security of its cryptographic keys, with new set of one-time keys required for every transaction executed through a blockchain process. Chain uses the Thales nShield HSM to generate and secure these critical keys.
“Blockchain is a game-changer in the financial services industry, with the potential to enhance security, speed and operational efficiency. 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”, Jon Geater, Chief Technology Officer at Thales e-Security, said.
Chain has developed the Chain Key Derivation algorithm using Thales CodeSafe technology, which provides the unique capability to move sensitive applications within the protected perimeter of the FIPS 140-2 level 3 nShield HSM. In addition, the solution incorporates robust cryptographic techniques, which securely and efficiently generate temporary one-time keys for each transaction.
“As Chain takes blockchain networks to production, we’ve invested heavily in the secure generation and storage of private key material. 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”, Ryan Smith, Chief Technology Officer at Chain, said.
Last month, Accenture announced that it collaborated with Thales to develop a solution that simplifies the ability of blockchain technology to integrate with the industrial-grade security systems that support sectors including financial services, healthcare, and government.
