Implementations of blockchain-derivative apps are without a doubt gaining traction and growing at an alarming rate.
With over 1 billion invested in implementation since 2009, and 60 percent of that funding occurring since the beginning of 2015.
Its true that blockchain has the ability to create a faster, secure platform for various types of transactions, all implementations universally share the critical security requirement of generating, storing and managing the user’s cryptographic keys.
In order to offer guidance for multiple organizations implementing blockchain apps, the Secure Technology Alliance, one previously known as the Smart Card Alliance, released a white paper that offers a primer of sorts on blockchain tech, and details the necessity for hardware security tech like smart cards and embedded secure elements to protect and offer convenient user access to cryptographic keys.
You can view the entire white paper here.
“It’s anticipated that a diverse set of applications will be implemented using blockchain – everything from cryptocurrencies to funds transfers, asset registries and autonomous Internet of Things (IoT) device payment,” said Randy Vanderhoof, executive director of the Secure Technology Alliance. “With all of these implementations, proper management of cryptographic keys is critical; if those private keys are lost or stolen, any assets associated with the blockchain are lost forever. This resource highlights how the use of smart card and secure element technology to manage the cryptographic keys, used in conjunction with blockchain technology, can enable convenient and secure transactions.”
Source: Payment Week