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Penta Security and R3 collaborate for DAM and MPC Technology

R3Penta Security, provider of web and data security services has announced its collaboration with software firm R3 for Digital Asset Management (DAM) and MPC (Multi-Party Computation) technology. The strategic partnership will combine Penta Security’s technologies and R3’s enterprise blockchain platform, Corda.

The two companies will work on bringing together deep skills in MPC, blockchain key management solutions, technology development, and deployment in the finance sector via R3’s enterprise blockchain platform Corda. They will form a software enterprise firm in addition to deploying Penta Security’s MPC technology on R3’s major projects. Penta Security is also expanding in the finance industry with PALLET which is an advanced key management solution for blockchain.

“There’s no doubt that the private key to successful blockchain deployment is the most important asset. We believe Penta Security’s MPC and digital asset management technology can provide an ideal key protection solution for both blockchain and digital asset key protection. By diversifying our offerings through strategic partnerships, we’re excited to be devoting our expertise in the evolving blockchain scene,” said Dr Sim, Chief Technology Officer, Penta Security, according to news reports.

Cathy Minter, Chief Revenue Officer, R3 mentioned that, “The creation of a new market, powered by digital assets, is one of the most exciting promises of blockchain technology. Coupling our Corda platform with Penta Security’s MPC technology will be one step closer to addressing the industry demand for secure digital asset management. We are proud to be partnering with Penta Security to deliver an industry-leading solution and look forward to them achieving continued success in the future.”

Korea-based Penta Security provides data, IoT, and blockchain security solutions and services, whereas R3 is an enterprise blockchain software firm headquartered in New York City.

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