Compliant Encryption Key Management Orchestrated for Blockchain Applications
Organizations are adopting distributed ledger technology for a wide range of benefits. These organizations are also discovering that blockchain’s inherent transparency makes it surprisingly ill-equipped at protecting sensitive and personally identifiable information.
At BlockNKey we understand the gaps in blockchain when it comes to data privacy, data protection, and compliance. That’s where distributed key orchestration fits.
INFORMATION SENSITIVE INDUSTRIES
Organizations are increasingly exploring blockchain solutions to streamline processes and create new business models. At the same time regulations around managing sensitive information are also increasing. Building compliant blockchain applications is hard.
Out of the box, blockchain records that contain personally identifiable information can never be updated, removed, or hidden from participants on the blockchain. This violates all manner of industry regulations from PCI and HIPAA to GDPR. Blockchain does not comply with best practices for protecting sensitive data at rest.
Although ledger entries within the blockchain are anonymous, the data is not. For example, supply chain applications using blockchain technology can reduce fraud, speed up processes, and reduce cost. They also expose an organization’s trade secrets or other sensitive information to competitors.
Centralized data encryption and key management solutions were not designed for distributed blockchain applications. Legacy centralized key management solutions provide a single point of failure, can constrain performance, and force a centralized authority to manage keys – all consequences that fly in the face of distributed application architecture benefits.
We built BlockNKey to be architecturally compatible with distributed blockchain applications. NIST compliant encryption, NIST compliant key management, and key access control are built into each registered blockchain node. So, organizations can comply with increased regulatory requirements and mandatory data privacy without the need for expensive, centralized key management services.
Developers need a bridge between the traditional security and privacy requirements of enterprise applications and the new world of distributed ledger technology. BlockNKey provides REST API’s that are easy to use creating distributed encryption key fabric native to blockchain.
BlockNKey provides developers, from startups to enterprises, a pathway to develop applications which protect stored data without the need for extensive encryption skills or deep regulatory knowledge. Instead, your development team can laser focus on your business application. In addition, our solution is designed to be blockchain agnostic with the ability to run cross-platforms, thereby, protecting your development investment.
Bruce LeaderCEO & Co-Founder
Bruce's leadership experience spans software startups and large technology companies. He has lead startups providing directories, secure access control and auditing solutions for midrange systems. He also held General Manager and Vice President positions at IBM and most recently was a Senior Director at Microsoft for the Strategic Relations Group. His Advisory Board work centers on data privacy and security.
Patrick TownsendCo-Founder, Security & Compliance
Understanding compliance, data protection and security from the ground up, Patrick's depth of knowledge crosses platforms, verticals and regulations. As a valued industry resource, Patrick has participated in standards development for the Payment Card Industry (PCI) and OASIS (Organization for the Advancement of Structured Information Standards). His articles have appeared in IBM Systems Magazine, InfoSecurity Magazine, and other publications. Patrick has accepted many invitations as a speaker at IBM, Microsoft, and MongoDB conferences.
Yuri ViziteiCo-Founder, Architecture & Development
Yuri brings 20+ years of entrepreneurial leadership in enterprise software and services. He has been on the leading edge of creating enterprise application solutions in the healthcare, travel & hospitality industries. Yuri lead data transformation and privacy projects across disparate computing platforms. He is a leading advocate for the adoption of enterprise blockchain initiatives.