New cryptography system ‘controls blockchain privacy’


Ahmet Tuncay, chief executive officer of Sepior

Sepior, a specialist in threshold cryptography, has announced what it says is the industry’s first commercially available key management system for controlling privacy on blockchains.
It said the new Sepior Threshold KMS system addresses a critical requirement of nearly every permission based blockchain provider to control access to information by potentially wide audiences of users.
Sepior said that blockchain continues to break down conventional barriers to collaboration and innovation. It pointed to the rise of smart contracts that can automate business processes with a permanent record of the rules of the arrangement and a log of each step of the transaction with a ledger that is accessible to a potentially wide range of parties with a stake or a role in the transaction. However, it also introduces some new challenges as most companies will not want all users with access to smart contracts to have visibility to all of the recorded information. The benefit of Sepior’s off-chain Threshold KMS, it said, is that it allows the construction of massively scalable distributed ledger technology solutions that require large number of parties to collaborate privately.
“We’re big believers in the potential for blockchain to revolutionize how businesses transact with one another and end customers”, said Ahmet Tuncay, chief executive officer of Sepior. “In the financial world, for example, DLT based solutions can deliver clear benefits in a compliant fashion as evidenced by the trial earlier this year conducted by financial messaging firm SWIFT.”

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