Running a DLT platform securely remains a challenge, with one critical problem being the secure management of the keys that are used in operations. Using a cryptographic technique called secure multiparty computation (MPC), it is possible to overcome the key management problem in DLT platforms.
An area of MPC, which is called threshold cryptography, facilitates the distribution of a secret key to multiple parties, which eliminates the risks of a single point of failure. ING has released a version of Multiparty Computation Threshold Cryptography that can be used, for instance, on digital signatures.
The MPC security is part of Pyctor, a digital assets post-trade market infrastructure for global custodians, institutional issuers and other capital market actors in collaboration with ABN AMRO, BNP Paribas Securities Services, Citibank, Invesco, Société Générale – Forge, State Street, UBS and others, led by ING. It helps customers to securely issue, access and manage digital assets in a regulatory compliant manner.