Objectives of the report:
Blockchain is a secure and reliable technology for distributed databases and ledgers. There are different versions that work with different protocols and procedures to verify transactions and entries. This report will not look at those protocols (for example Ethereum, Hyperledger, Ripple, Quorum, Multichain, etc.) in detail but focus on evaluating the security-relevant basic principles of the blockchain technology:
- The basic functions of blockchain and its consensus models will be presented.
- Readers will be given an insight into the different operating models, i.e. public blockchain, private blockchain and consortium blockchain.
- The report will list all important, safety-relevant features of the blockchain technology.
- The weaknesses and potential points of attack, as well as current and planned solutions will be described.
- The important field of identity management will be presented in the context of certain application scenarios.
- Management summary
- teknowlogy’s opinion
- teknowlogy’s recommendations
A Brief Introduction to Blockchain
- The basic principle of blockchain
- Consensus mode: Proof-of-Work (PoW) versus Proof-of-Stake (PoS)
Blockchain basics: Public, Private, and Consortium
- Public blockchains: usually not the first choice for businesses
- Private blockchains: designed for closed ecosystems that require access permission
- Consortium blockchains: transparency beyond the closed ecosystem
Blockchain Usage and Security
- Main security capabilities of blockchain
- The limits of blockchain
The potential of Blockchain in Identity Management
- Personal identity management
- Enterprise identity management
- Know your Customer (KyC)
- IoT and M2M business
- Our comment on identity management
- Our comment on cyber security
- Final considerations