Gemalto, Ledger Team for Cryptocurrency Security Infrastructure
October 6, 2017
has started a technology partnership to deliver high-assurance
security infrastructure for crypto assets applications.
The joint Gemalto and Ledger solution consists an integration of
Ledger's unique Blockchain Open Ledger Operating System (BOLOS)
into Gemalto's SafeNet Hardware Security Module (HSM) to provide
a secure environment for financial institutions looking to
leverage cryptocurrency. The solution enables a variety of use
cases, such as launching investable products on cryptocurrencies,
or stocking cryptocurrencies securely.
The market has seen a significant growth of cryptocurrencies
over the past few years, now representing a market
capitalization of USD 137 billion, compared to USD 7.8 trillion
for gold and USD 83.8 trillion for the global stock market (see
related sources below). In addition, multiple large banks and
hedge funds have announced plans to develop and implement
blockchain use cases, both for internal and external purposes.
Register for the joint webinar with Ledger to hear how
blockchain-based cryptocurrencies are changing the face of
payments and financial services.
Eric Larchevêque, CEO at Ledger, explained: "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."
Todd Moore, Senior Vice President of Encryption Products at
Gemalto, commented: "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."
can customize account-based digital signature policies,
heightening security requirements for user authentication of
these transactions. The solution also builds in the ability to
execute blockchain-based smart contracts, which are
self-enforcing, self-executing digitally signed contracts.
Compared with traditionally brokered transactions, a secure
blockchain application for cryptocurrency trading simplifies a
financial organization's portfolio and contract management
process by reducing costs and saving time.
Blockchain is a disruptive new technology that allows
transactions to be carried out over peer-to-peer networks by
acting as a distributed ledger that gives transactional
authority directly to each counterparty involved. Blockchain
enables faster, more efficient transaction and settlement
Additionally, blockchain is an ideal model to address the
scalability concerns for widespread adoption of IoT. The massive
volume of communication and data produced by IoT devices
requires transactions to take place at the edge, a problem
blockchain solves. Combining proven security technology with a
decentralized system for IoT networks offers efficiency, user
privacy, validation of the user's identity and transaction and
secure offline storage to prevent theft or spoofing.