We are witnessing the rapid rise of blockchain technologies in many sectors: banks, transportation, automotive, public sector, etc. Blockchain appears often as the universal panacea and the remedy to many problems.

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. 

Permissioned networks are the ideal solution for banks in building their own blockchain. In this article, we will detail the technical advantages of banking blockchains and how these advantages lead to financial advantages, as well.

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.

Permissioned networks are the ideal solution for banks in building their own blockchain. In this article, we will detail the technical advantages of banking blockchains and how these advantages lead to financial advantages, as well.

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.