In this article, we shall explain the main benefits of using HSMs in combination with notary services/ TSA for auditing blockchains. Our intent is to provide only the main ideas and guidelines about the subject. 

In this article, we unveil several reasons why HSMs are vital for the emerging blockchain-based transportation protocols.

Blockchain technologies can now be integrated into any industry, public sector, inside any business and throughout areas in our social contemporary lives.

Half a century ago, the concept of self-driving cars, let alone unmanned aircraft was something that could only be found in science fiction. Fast forward to 2019 and autonomous vehicles (AVs) of all varieties: land, sea, and air are revolutionizing how people and goods are transported. Today, we have self-driving cars, unmanned flying drones, self-driving trucks transporting goods, and even food being delivered by autonomous delivery robots.

In this article, we will explain how blockchains work, what are the differences between public and permissioned blockchain networks, and how banks currently position themselves in regards to these networks.

In many permissioned blockchain networks like Corda, notaries are dedicated nodes. Built as a decentralized service, they replace the role that miners play in other blockchains like the Bitcoin blockchain. Notaries are also in charge of validating and signing transactions.

In what follows, we will see how HSMs would play a vital role in such notary nodes.

Blockchains are ruled almost entirely by cryptographic mechanisms. These mechanisms mostly involve digital signatures & PKI, hashes, and key derivation.

The banking industry is currently rolling out several permissioned blockchain projects.

These are still controlled projects, but so far they demonstrate how powerful a blockchain-enabled banking system could be with respect to gains in effectiveness, security, as well as creating a technical basis for new innovative business models in banking.

Permissioned blockchain networks are blockchain networks that are not public, e.g., they require users to apply for membership in order to gain access to them. Such blockchain networks use specific software to operate.