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Content:

• Blockchain & Compliance Legal Society
• Blockchain’s security weakness lies in the very thing that makes it secure: cryptography
• Renji Hospital to unveil blockchain-enabled intelligent tumour treatment center
• New crypto threatens to dethrone Ethereum after its latest upgrade
• How Walmart Canada Uses Blockchain to Solve Supply-Chain Challenges
• How China’s Ban on Cryptocurrency Will Ripple Overseas

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Blockchain & Compliance Legal Society

Blockchain was originally designed as a technology to support cryptocurrency, and its use is expanding beyond its financial roots to benefit organisations across different industries. From enhancing customer experience in day-to-day trade, finance and cross-border payments, to smart contracts and IoT security, blockchain is transforming the way companies do business. Despite its cryptographic history, organisations should not see blockchain as a silver bullet when it comes to security.

Like all technology, it has its own weak points and hackers are increasingly manipulating these weaknesses for their own financial gain. Unfortunately, the most common weakness in blockchain security lies in the very thing that makes it secure, namely cryptography. Since the inception of key-based encryption, cyber criminals have been using a host of methods, such as brute force attacks and phishing and social engineering, to get hold of information about private keys from their owners.

It has become so common place that there are even scores of videos on sites like YouTube that provide step-by-step instructions on how to hack private keys. Given the high-value financial and safety-critical nature of some proposed blockchain use cases, it is imperative that nothing alters data prior to its placement on the blockchain. While multi-signature features will enhance levels of security by introducing additional distributed keys for recovery and authentication of transaction, they still rely on the use of original keys that could be vulnerable to attack.

Therefore, multi-signature cannot be used alone and relied upon for exclusive security. Initially developed for the financial services sector, tokenisation is a highly secure means of protecting account-based transactions.

It works by replacing sensitive information with unique randomly generated alphanumeric numbers known as tokens. For each subsequent transaction, a new token is generated and used. Because tokens have no value outside of the specific transaction they are used for, they make an ideal choice for systems where individuals want to minimise the potential exposure or manipulation of sensitive data.

To vastly improve the security of blockchain, the addition of tokenisation will provide a bank-grade, combined solution that can be used regardless of industry or use case.

Unlike the private keys used to authorise blockchain transactions, tokens cannot be used by a third party to conduct transactions if intercepted. By replacing sensitive private keys with a limited use token that can include domain controls for device or channel, tokenisation mitigates fraud risk and protects the underlying value of credentials.

When applied together, blockchain can help to protect the integrity of data-related records showing the transaction process that the token was involved in, while tokenisation can be used to protect credentials, and allow user domain controls to control where and how they may be used. This combination could be used to keep the most sensitive of data, including all forms of personal data from account details to patient IDs and social security numbers inherently secure.

The current generation of businesses being built on, and around the blockchain are beginning to adopt the necessary technologies and processes, such as multi-signature transactions, and tokenisation to improve the levels of security that consumers expect for a tradable commodity. However, if businesses truly want to benefit from this technology, better levels of security must be applied by all, not just the few.

Jerome Nadel is the general manager of payments and ticketing, as well as chief marketing officer for Rambus. Jerome has expertise in strategic usability and user experience and has extensive international business strategy and marketing experience.

Before coming to Rambus, Jerome was at Option NV, where he was the chief experience officer leading the user experience process from research and innovation to implementation, marketing, and sales. Your email address will not be published. This site uses Akismet to reduce spam. Learn how your comment data is processed. Search for:. Jerome Nadel May 16th, Tokenisation Initially developed for the financial services sector, tokenisation is a highly secure means of protecting account-based transactions.

How blockchain and tokenisation can work together To vastly improve the security of blockchain, the addition of tokenisation will provide a bank-grade, combined solution that can be used regardless of industry or use case. Print Friendly. About the author Jerome Nadel. Posted In: Leaders Technology. Leave a Reply Cancel reply Your email address will not be published. Related Posts Economics and Finance. Cash is an emotional topic September 23rd, Economics and Finance. Medium-sized firms worry a possible EU exit would hamper their ability to find skilled workers December 14th, Purpose and trust are valuable antidotes to relationship conflict at work August 28th, We use cookies on this site to understand how you use our content, and to give you the best browsing experience.

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Blockchain’s security weakness lies in the very thing that makes it secure: cryptography

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Or fly right in the face of it, no matter the cost? If Silicon Valley operated under the idea that companies should move fast and break things, then BitTorrent had become an exception. Employees enjoyed patiently tinkering with creative projects and going home at a reasonable time, free from the tyranny of startup culture. The company was founded in , and though its namesake protocol helped shape the modern internet, by , the company was languishing.

Renji Hospital to unveil blockchain-enabled intelligent tumour treatment center

Shoppers flash a QR code in-store to see the full history of each product, and make informed purchase decisions. Food industry players throughout the value chain also benefit from this cost-effective solution. Brands and retailers are able to better control supply chains, through better visibility as well as real time management of product recalls. Projects are underway with a number of Bureau Veritas clients, and the technology is now ready to be launched to the wider market. Origin is a win-win solution not just for consumers, but also for retailers, suppliers, processors and manufacturers, as it adds value to the final product. With Origin, product recalls can be managed in real time, enabling the brand to preserve its reputation. The use of blockchain makes Origin technologically innovative and resolves key challenges that have made full food traceability elusive until now. Built in partnership with Worldline, a leader in securing digital transactions, it is first solution of its kind to leverage the technology. Using blockchain technology revolutionizes how transactions are verified, thereby increasing reliability of information.

New crypto threatens to dethrone Ethereum after its latest upgrade

As many of you experience every day, the world is undergoing a global digital transformation where digital and physical reality are blurring into a single integrated modern way of living. This new world needs a new model for digital identity, one that enhances individual privacy and security across the physical and digital world. And yet there is so much more we can do to empower everyone. We aspire to a world where the billions of people living today with no reliable ID can finally realize the dreams we all share like educating our children, improving our quality of life, or starting a business. To achieve this vision, we believe it is essential for individuals to own and control all elements of their digital identity.

How Walmart Canada Uses Blockchain to Solve Supply-Chain Challenges

He has been deeply involved with Bitcoin since , with significant experience in cryptocurrency mining, and as an engineer studying protocol development, and contributing to open-source projects. Jason was also a founding partner of Binary Digital, a software-development company where he led the engineering team and coordinated project development for artificial intelligence, reverse engineering, and inter-software compatibility projects. In addition, he brings extensive hands-on experience in working with growing companies, achieving enhanced value for shareholders. His career has spanned over forty years in senior leadership roles working as an audit partner with a national accounting firm, in addition to roles as an executive within multiple public entities. He has in-depth expertise in matters pertaining to mergers and acquisitions, as well as SEC public reporting compliance, private offerings, IPOs, secondary offerings, and exploring and analyzing financing alternatives. Brooks has a B.

How China’s Ban on Cryptocurrency Will Ripple Overseas

Blockchain was originally designed as a technology to support cryptocurrency, and its use is expanding beyond its financial roots to benefit organisations across different industries. From enhancing customer experience in day-to-day trade, finance and cross-border payments, to smart contracts and IoT security, blockchain is transforming the way companies do business. Despite its cryptographic history, organisations should not see blockchain as a silver bullet when it comes to security. Like all technology, it has its own weak points and hackers are increasingly manipulating these weaknesses for their own financial gain. Unfortunately, the most common weakness in blockchain security lies in the very thing that makes it secure, namely cryptography.

We engage in both research and education to advance the design, development and adoption of blockchain technologies. Our research initiatives bring academics, industry and community partners, and policy-makers together to explore pressing issues and advance the emergence of blockchain and distributed ledger technologies. Our teaching initiatives span undergraduate, graduate, and executive levels to advance the knowledge and qualifications of students and professionals interested in blockchain and distributed ledger technologies.

This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our privacy policy to learn more. Blockchain is one of the most popular—and controversial—topics of conversation among technology leaders in finance today.

Currently, information technology is scurrying. The internet is no longer used only for communication between humans but has grown beyond that. One of the new technologies that have been widely discussed in recent years is Blockchain. Rina Pudji Astuti, hopes that this webinar will provide participants with insight into the use of Blockchain. The challenge now is related to the security and reliability of the technology used. HARA developed a project called Crowd planting, which helps farmers have quality crops with the help of blockchain technology and the Internet of Things that can provide information regarding the quality of the cultivated land used.

O will allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies starting this week, the company said on Monday. The roll-out, which marks the first international expansion of PayPal's cryptocurrencies services outside of the United States, could inspire further mainstream adoption of the new asset class. With over million active accounts globally, the San Jose, California-based company is one of the largest mainstream financial companies to offer consumers access to cryptocurrencies.