SAN JOSE, Calif., March 30, 2017 /PRNewswire/ — Thales, a leader in critical information systems, cybersecurity and data security, announces the integration of its market-leading nShield hardware security module (HSM) with Chain, provider of enterprise-grade blockchain infrastructure that enables organizations – including Nasdaq, Citi and Visa – to build breakthrough financial products and services.
Blockchain is driving transformation for businesses across multiple sectors, particularly financial services. The shared ledger model offers the financial industry a new model for transacting between organizations that is more efficient and secure than legacy systems. Cost savings, faster transactions, and improved data quality add to the many benefits of the technology. Underpinning each blockchain is robust cryptography used to protect the data from fraud perpetrated by hackers.
Blockchain security depends upon the security of its cryptographic keys. Every transaction executed through a blockchain process requires a new set of one-time keys. Chain uses the Thales nShield HSM to generate and secure these critical keys. With unique customer needs in mind, Chain developed the Chain Key Derivation algorithm using Thales CodeSafe technology. This provides the unique capability to move sensitive applications within the protected perimeter of the FIPS 140-2 level 3 nShield HSM. Additionally, the solution incorporates robust cryptographic techniques, which securely and efficiently generate temporary one-time keys for each transaction.
Ryan Smith, Chief Technology Officer at Chain, says:
“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.”
Jon Geater, Chief Technology Officer at Thales e-Security, says:
“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, allowing organizations to build, deploy and operate blockchain-based transaction networks with confidence.”
Industry insight and views on the latest key management trends can be found on the Thales e-Security blog at www.thales-esecurity.com/blogs.
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About Thales e-Security
Thales e-Security is the leader in advanced data security solutions and services that deliver trust wherever information is created, shared or stored. We ensure that the data belonging to companies and government entities is both secure and trusted in any environment – on-premise, in the cloud, in data centers or big data environments – without sacrificing business agility. Security doesn’t just reduce risk, it’s an enabler of the digital initiatives that now permeate our daily lives – digital money, e-identities, healthcare, connected cars and, with the internet of things (IoT), even household devices. Thales provides everything an organization needs to protect and manage its data, identities and intellectual property, and meet regulatory compliance – through encryption, advanced key management, tokenization, privileged-user control and high-assurance solutions. Security professionals around the globe rely on Thales to confidently accelerate their organization’s digital transformation. Thales e-Security is part of Thales Group.
Thales is a global technology leader for the Aerospace, Transport, Defence and Security markets. With 64,000 employees in 56 countries, Thales reported sales of €14.9 billion in 2016. With over 25,000 engineers and researchers, Thales has a unique capability to design and deploy equipment, systems and services to meet the most complex security requirements. Its exceptional international footprint allows it to work closely with its customers all over the world.
Positioned as a value-added systems integrator, equipment supplier and service provider, Thales is one of Europe’s leading players in the security market. The Group’s security teams work with government agencies, local authorities and enterprise customers to develop and deploy integrated, resilient solutions to protect citizens, sensitive data and critical infrastructure.
Thales offers world-class cryptographic capabilities and is a global leader in cybersecurity solutions for defence, government, critical infrastructure providers, telecom companies, industry and the financial services sector. With a value proposition addressing the entire data security chain, Thales offers a comprehensive range of services and solutions ranging from security consulting, data protection, digital trust management and design, development, integration, certification and security maintenance of cybersecured systems, to cyberthreat management, intrusion detection and security supervision through cybersecurity Operation Centres in France, the United Kingdom, The Netherlands and Hong Kong.