Aachen, Germany & Campbell (CA), USA, November 21, 2019 – Utimaco, an international provider of professional IT security solutions, has announced the launch of Block-safe, a new hardware security module (HSM) designed for use with blockchain-based platforms that feature distributed ledger technology. An HSM is crucial to securing blockchain systems in order to cryptographically protect the information stored in them, maintain information integrity and ensure audit compliance. Utimaco Block-safe enables companies to generate, manage and protect cryptographic keys for blockchain applications. For example, private keys can be securely stored in accordance with PSD2 and GDPR security requirements. In addition, Block-safe allows for easy integration of new deployments in highly regulated environments, such as “Know Your Customer” (KYC) processes in accordance with the Money Laundering Act or smart payment methods based on blockchain.
Utimaco Block-safe generates private and public key pairs according to common blockchain-specific elliptic curves such as Secp256k1 (Bitcoin) or Stellar Ed25519 (Ethereum). Transactions can also be secured with MultiSign, whereby Block-safe allows the number of keys required for a valid transaction to be specified and verified (M from N-consensus procedure). Key pairs can be derived from a single master key in a secure environment according to BIP-32. The hierarchically deterministic wallets are also secured by using two-factor authentication with smart cards, and role-based access controls and separation of functions can be configured to secure the keys even further.
A software development kit enables Utimaco Block-safe to be configured to meet the individual requirements of companies. Furthermore, Block-safe has built-in post-quantum secure cryptographic random number generators in accordance with the SP 800-90 recommendation of the National Institute of Standards and Technology (NIST).
“Blockchain technology enables companies to evolve their digital business processes and include critical supply chains in a highly secure manner,” commented Malte Pollmann, Chief Strategy Officer at Utimaco.
“The auditability of transactions in the blockchain is the core of its success. As more and more companies develop and deploy blockchain technologies, it is essential to adequately protect the transactions they store. With Block-safe, we have developed a product that is not only designed for blockchain applications, but also has the crypto-agility to counter the threat from quantum computers that are able to bypass today’s encryption methods.”