Industry's First Privacy Control Solution For Permissioned Blockchains

To control privacy on Blockchains, Sepior announced industry's first commercially available threshold key management system. It is based on multiparty computation (MPC). This solution is Industry's first Threshold KMS that helps in mitigating privacy and scale constraints with high availability on virtually any permissoned blockchains.

Privacy issue on Blockchain

Sepior Threshold KMS solves the privacy problem with permissoned blockchain providers to control information access from its users. In the case of the permissoned blockchain, companies may not want all or some of its users with access to smart contracts to have visibility to all of the recorded information on the ledger. Access needs to be defined per user on a per document or smart contract level, or to the level of specific fields or objects within the application. This is now possible with Sepior's solution.

It allows n number of Threshold KMS services to run on separate virtual machines. These virtual machines can be hosted across multiple data centers or clouds to provide maximum system resiliency. These systems use threshold multiparty computation (MPC) to confirm that at least m (a definable threshold) of these Threshold KMS services are available for MPC to produce keys used by each authorized blockchain participant to access content, without ever having a whole key exist on any virtual key management server, as noted on Sepior Threshold KMS.

Sepior Threshold KMS works completely off-chain and supports virtually unlimited scale. It does not require hardware security modules (HSMs).

Threshold KMS allows a common smart contract to be accessed by multiple users while allowing each user to have different policies allowing them to view and access only authorized fields of data.

Executive Opinion

Representative Director, President & CEO of SBI Holdings, Yoshitaka Kitao, said, “Blockchain technologies and applications will soon usher in a new era of innovation and multiparty collaboration. Facilitating collaboration while preserving privacy will be prerequisite for wide industry adoption. Sepior’s innovation with Threshold KMS directly addresses this industry need with a Threshold Cryptography framework that supports virtually any blockchain technology or smart contract application, which is very compelling.”

Chief executive officer of Sepior, Ahmet Tuncay, said, “We’re big believers in the potential for blockchain to revolutionize how businesses transact with one another and end customers. Threshold KMS provides a revolutionary new approach to reliably manage privacy and access to critical information in a manner that works off-chain, is compatible with virtually any blockchain, eliminates potential scale constraints of on-chain privacy management alternatives, and with disruptive economics.”

The solution is Highly Available

Sepior further ensured that its Threshold KMS automates the services using a fully virtualized and distributed, multi-cloud framework, where the entire key never exists on any key server at any time. Cryptographic key services are highly available to applications even if a server or an entire cloud instance goes off-line for any reason, making the system highly secure, highly available, and elastically scalable, claims the announcement.