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Thales, the cybersecurity and data security provider, is integrating its nShield hardware security module (HSM) with Chain, the Silicon Valley blockchain builder which is working with Nasdaq, Citi and Visa.

Security of a blockchain depends upon the security of its cryptographic keys. Every transaction executed through a blockchain process requires a new set of one-time keys. Chain uses the Thales nShield HSM to generate and secure these critical keys. With unique customer needs in mind, Chain developed the Chain Key Derivation algorithm using Thales CodeSafe technology.

This provides the unique capability to move sensitive applications within the protected perimeter of the FIPS 140-2 level 3 nShield HSM. Additionally, the solution incorporates robust cryptographic techniques, which securely and efficiently generate temporary one-time keys for each transaction, said a statement.

Ryan Smith, chief technology officer at Chain, said:"As Chain takes blockchain networks to production, we've invested heavily in the secure generation and storage of private key material.

"The Thales nShield HSM offers a fast and efficient way to derive new keys. In particular, we were very impressed with the HSM's CodeSafe feature, which allows us to run security-critical code protected within the HSM boundary. It's a natural fit."

Jon Geater, chief technology officer at Thales e-Security, said: "Blockchain is a game-changer in the financial services industry, with the potential to enhance security, speed and operational efficiency. Our integration with Chain provides a strong root of trust and ensures the integrity of the underlying blockchain operations that enables allows organisations to build, deploy, and operate blockchain-based transaction networks with confidence."