wallets and consensus€¦ · ideal solution domains. ... putting all your eggs in one basket…...
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wallet.services wallet_services
Wallets and ConsensusBlockchain Engineering for Enterprise Systems
By
Alan Keir
Overview
WalletsSecure management and storage
ConsensusBusiness problems involving data
ApplicationsIdeal solution domains
Problem #1 – Securing a Bitcoin Exchange
Providing AML/KYC Compliant Data
An accident waiting to happen…
$9 Million
$1300 Million
Bitcoin Client & Wallet Setup
Multiple Wallets in Bitcoin Clients
Implementing Multiple Wallets
Shared (or Hot) Wallets
Putting all your eggs in one basket…
High Profile Crypto Exchange Thefts
Task #1 – Design a secure multi-wallet service
Gathering Requirements
• Individual Wallets
• Individual Wallets
• Resilience to Client Attacks
• Resilience to Wallet Attacks
Gathering Requirements
• Individual Wallets
• Resilience to Client Attacks
• Resilience to Wallet Attacks
• Recovery from Key Theft
Gathering Requirements
Solution #1 – A secure multi-wallet service
✓ Individual Wallets
✓ Resilience to Client Attacks
✓ Resilience to Wallet Attacks
Solution: Decoupling Wallets
✓ Individual Wallets
✓ Resilience to Client Attacks
✓ Resilience to Wallet Attacks
✓ Recovery from Key Theft
Solution: Dual Wallet Ownership
Solution: Implemented
@ The Wash Bar / 5th May 2014
• Fast, Scalable and Secure Wallet Hosting
• Multiple Currency types
Problem #2 – Applying Blockchain to Business Problems involving data
Cross-Organisational Workflows
Task #2 – Design a self governing workflow system
• Attestation
• Certification
• Chain-of-Custody
• Secure data sharing
Requirements Gathering
• Attestation
• Certification
• Chain-of-Custody
• Secure data sharing
• Chain-of-Command
Requirements Gathering
• Attestation
• Certification
• Chain-of-Custody
• Secure data sharing
• Chain-of-Command
• Consent
Requirements Gathering
• Attestation
• Certification
• Chain-of-Custody
• Secure data sharing
• Chain-of-Command
• Consent
• Termination
Requirements Gathering
Solution #2 – A blockchain that implements compliant workflows.
✓ Attestation
✓ Certification
✓ Chain-of-Custody
✓ Secure data sharing
✓ Chain-of-Command
✓ Consent
✓ Termination
Solution: Data Bearing Transactions
✓ Attestation
✓ Certification
✓ Chain-of-Custody
✓ Secure data sharing
✓ Chain-of-Command
✓ Consent
✓ Termination
Solution: Encryption and Multisig
Public Consensus Model?
Permissioned Consensus Model
First generation consensus rules
Smart Contracts
✓ Attestation
✓ Certification
✓ Chain-of-Custody
✓ Secure data sharing
✓ Chain-of-Command
✓ Consent
✓ Termination
Solution: Governance via Smart Contracts
Cross-Organisational Workflows
✓ Attestation
✓ Certification
✓ Chain-of-Custody
✓ Secure data sharing
✓ Chain-of-Command
✓ Consent
✓ Termination
Using Blockchains to Govern Interaction
Using Blockchains to Govern Interaction
Blockchains aren’t data repositories
Blockchains aren’t data repositories
Thank You!