Digital security firm Gemalto has partnered with Ledger, a provider of security and infrastructure solutions for cryptocurrencies and blockchain applications, to provide high-assurance security infrastructure for crypto assets applications.
The joint project involves an integration of Ledger's Blockchain Open Ledger Operating System (BOLOS) into Gemalto's SafeNet Hardware Security Module (HSM).
"As the market value of blockchain based solutions rises, so does the need for bank grade security products, when financial institutions are looking for dedicated, certified solutions. We plan to leverage SafeNet HSM to provide our clients in the financial industry with a unique, secure product line customized to their needs,” Eric Larchevêque, CEO at Ledger, said.
Customers can customize account-based digital signature policies, enhancing security requirements for user authentication of these transactions, the official release said.
The solution would provide a secure environment for financial institutions looking to leverage cryptocurrency. It would enable a variety of use cases, such as launching investable products on cryptocurrencies, or stocking cryptocurrencies securely. It will also offer the ability to execute blockchain-based smart contracts, which are self-enforcing, self-executing digitally signed contracts.
"With the proper security to protect communication, devices and users, blockchain can offer a trusted platform for parties that don't have an existing relationship to do business efficiently and transparently. Beyond the financial services market, we are also working with Ledger to embed BOLOS into any device's secure element and bring high-assurance security to markets like smart energy applications, home automation or wearables,” Todd Moore, Senior Vice President of Encryption Products at Gemalto, said.
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