Blockchain firm Chain Inc has joined with The Thales Group to develop a new blockchain-based security solution that large companies can utilize to more effectively protect stored security credential information. The project is designed to address one of the key obstacles preventing large-scale adoption of blockchain technology in the marketplace, and could help to ease concerns about the security of sensitive credential details and similar data.
The new service from Chain Inc utilizes processor technology from Thales to secure sensitive credential details like digital keys and passwords. Those processors – known as hardware security modules, or HSM – offer state-of-the-art security for digital information that can enable companies to satisfy their existing security standards as they adapt to distributed ledger technology.
Many of those large firms already use security systems that incorporate HSMs, so the inclusion of the Thales technology in Chain’s new security system offers those companies an important measure of familiarity that should help to ease many decision-makers’ minds as they consider blockchain tech for their firms. The advance in blockchain security is almost certain to please regulators as well.
Chain Inc is considered to be a leader in blockchain solutions. Its partnership with Thales – a global leader in innovative data protection systems – should help the company maintain its position at the cutting edge of blockchain innovation at a time when interest in the technology and its potential benefits continues to grow.