Digital Asset Custody & Security
Digital Assets are blockchain-based digital representations of real-world assets like corporate bonds, real estate or entirely new concepts like cryptocurrencies. Smart contracts are transaction logic that can make previously illiquid asset classes more attractive.
Digital assets represent the creation of a new financial system – one that is more democratic, more efficient, and more vast than anything we have seen. Cybersecurity presents a tough challenge, particularly in the custody of wallets and private keys.
Financial institutions either work with custodians/trustees or themselves, act as custodians.
Private key storage
- Financial institutions need to know who is holding on to — and securing — the private keys.
- Self-custody is essentially a non-starter, primarily due to regulations and the legal obligations that define their fiduciary responsibilities.
- Self-managed hardware wallets, regardless of how secure, are not a feasible option for them.
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Sept 22, 2020, 3:00-3:30pm UTC+1
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Unique Challenge
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Successful attackers gain control of the assets by maliciously signing transactions with the private keys
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Lack of regulatory frameworks
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Trust gap between customers and custodians
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Crypto-native firms applying for traditional custodian licenses while still exposed to regulatory risk
Expected Benefits
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Online wallets with better than offline security, improving asset liquidity
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Remove human attack vectors from cold storage, transaction approval, and solution administration
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Guaranteed security with IBM enterprise credibility
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Protect against external threats by running in a large protected memory enclave with fully encrypted data at rest & in flight
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Simplified compliance with 100% of your data encrypted at the hardware level
Speakers & Panelists
Questions
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What are security tokens and why are they so important an asset class?
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How important is a secured digital asset custody to investment firms with exposure to digital assets & cryptocurrencies?
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In first ten months 2019, over 380 token offerings have raised a total of USD 4.1bn. Digital asset custody business seems to be ripe for an uptake isn't it?
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How does institutional managed hardware security module solve private key storage problems compared to self-managed hardware wallets?
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How important is technology to informing what the regulation of digital asset custody should be?
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Borrowing and lending using crypto is seeing significant growth. This is creating a need for non-custodial lending which is native to crypto. Are we going to continue to see this trend?