The ENCRY team works on the practical implementation of our solutions on a daily basis. In this section we present examples of the most important real-world applications of our technologies. We are ready to answer any questions regarding our research. Please contact us for detailed information.
decentralized public key infrastructure
Public Key Infrastructure (PKI) is a set of means, distributed services and component used to solve traffic encryption tasks and based on the idea of private and public keys. Below you can see a case study representing the realization of its decentralized interpretation (DPKI - Decentralized Public Key Infrastructure). This approach allows us to get rid of the main disadvantages of classic solutions, mitigating the dependence on a central root certificate and a certification node. Therefore, users are not compromised in case of discredit of the Certification Center.
When one talks about technology that could potentially change the way we live, blockchain is a term that is constantly brought up. And for good reason, blockchain technology promises to fundamentally change the way we live in a multitude of areas. It can often be difficult to conceptualize the transformative impact that blockchain can have on our lives, which is why I have decided to compile a list of potential blockchain use cases. Hopefully this list will give you a clearer insight as to the potential of this piece of technology. Just to add, this list is by no means an exhaustive one.
Digital Identity and Voting
Public key infrastructure based on a distributed ledger technology (A. Chmora, Encry LLC.)
Asymmetric cryptography is widely used to ensure secure subject interaction in various Internet activity domains, for instance, in digital audio communications using VoIP technology, instant text messages exchange in both individual and group modes, video conferences, etc.
Working efficiency of any asymmetric cryptography instrument is inextricably linked to the authentication mechanism that is used.
The suggested document is created in an attempt to conceptualize the authentication mechanism within the distributed ledger framework. We also touch upon adjoining topics that are directly connected with the outlined interest and discuss potential solutions.
The term "confirmation of authenticity" will be further used in the text as a conceptual equivalent to the term "authentication"
The author of the document intended to present the material in a lucid and accessible manner. Therefore, the author intentionally avoided using formal definitions and notations converntionally used in the mathematical literature.
Public keys infrastructure based on distributed ledger technology (A. Chmora, Encry LLC.)
2. Distributed ledger
A public ledger, or blockchain, is a distributed data repository that consists of an inerconnected list of records. A network of nodes controls the ledger. All nodes share rights equally and participate in control execution. Therefore, a network is decentralized and peer-to-peer.
Initially, ledgers wew used for storing electronic payment orders (transactions) in the process of virtual funds transferring within networks. The very first example of this type of ledger application is Bitcoin. ALongside this, the principle of load calculations was translated into practice. The principle, also known as Proof-of-Work or PoW, allows actualizing transactions that are accumulated in the network by creating a new record (or block, as they are called in Bitcoin network). Since such activity is rewarded, it activates the virtual monetary funds (cryptocurrency) emission. This process is called minig.
Every new added record is inseparably connected to every other record in the ledger. The interconnectedness is achieved by using cryptograpic hash function, which means that, for instance, to falsify a transaction one would need to enter required changes into every other record in the ledger, which implies almost unfeasible amount of calculations. Therefore, distributed ledger technology is a secure and safe instrument of storing and distributing data within peer-to-peer networks.
Two independent routs can be generated in a ledger. Branching takes place when two records appear in a ledger simultaneously. The conflict is resolved by automatic preference of a longer rout.
Distributed ledger is an institution for collective action that excludes any kind of discrimination. Therefore, the principles of publicity and neutrality are foundational in ledger development.
- Sending money internationally using existing payment methods can be both expensive and time consuming due to fees that are taken by middlemen.
- There are a considerable number of individuals, especially in the developing world, that do not have access to banking services.
Blockchain can be used to solve these aforementioned problems by serving as a foundation on which cryptocurrencies can be built. Cryptocurrencies can simply be thought of as a digital currency that function as a medium of exchange in buying and selling various goods and services. Conducting cross-border payments can be both a rapid and inexpensive process, as the blockchain can facilitate peer-to-peer transactions, meaning that middlemen need no longer be involved.
Blockchain, by enabling cryptocurrencies, has also spawned the development of cryptocurrency wallets. These wallets give individuals the opportunity to send and receive money, and generally be in full control of one’s funds. This gives the unbanked the opportunity to receive an income, and even enter into decentralized networks that allow for lending and capital raising activities. The barrier to attaining a cryptocurrency wallet is small, as one only needs an internet connect. This is in contrast to opening a bank account with traditional financial institutions, which can often be a time consuming and expensive process.
2. Supply Chain Management
- There is a lack of transparency as a product moves along its supply chain, which means that any problems that occur cannot adequately be isolated and investigated if any incidents were to arise.
- Issues of product authenticity can exist in supply chain management, as consumers can often receive counterfeit goods.
A supply chain is a network that is established between a business and its suppliers, and blockchain technology promises to remedy the problems found within these supply chains. This is achieved by the blockchain’s ability to enable the digitization of assets. With this method, products can be tagged and assigned with unique identities that are then transplanted onto a transparent and immutable blockchain. Vital product information, for example: state of the product, time, location can all be tracked on the blockchain. In effect, blockchain enabled asset digitization allows for a product’s supply chain to effectively be transplanted onto a blockchain.
This can yield certain advantages, for example, products can more accurately be tracked as they move along different stages/locations in their supply chain, as a result of increased transparency. This gives stakeholders in supply chain management the capabilities to be able to isolate and tackle any potential problems. Also, end consumers can also benefit significantly from a blockchain enabled supply chain, as they would be able to verify the authenticity of purchased goods by use of the blockchain.
- Ownership of data is largely in the hands of the countless applications and services that we grant consent to. This is problematic because these centralized entities are increasingly susceptible to data breaches and identity theft.
A digital identity can be thought of as the body of information that represents individuals, organizations etc that exists online. Blockchain could potentially solve problems with digital identity, by giving control back to the user, so called self-sovereign identity. Instead of granting broad consent to a variety of applications and service providers in obtaining one’s digital identity, individuals could possess an encrypted digital hub in which their digital identity data could be stored. More importantly, individuals could control who had access to that hub, and also revoke access when needed. Blockchain, in the digital identity use case, promises to place the individual back in control of how their digital data is utilized.
- Voter fraud is an issue that plagues current voting structures.
- A voter is required to be physically present at a polling booth in order to cast their vote, this can contribute to an overall lowering of voter turnout.
Voting, especially in our increasingly interconnected society, is an activity that should be able to be done through online means. However, online voting is a move that has been resisted due to concerns of security and fraud. With physical voting, these concerns do not exist, as paper voting is secure from hackers because it cannot be digitally altered. The characteristics of blockchain make it a suitable candidate in addressing concerns of security and fraud. Blockchain can eliminate concerns of voter fraud by providing a clear record of votes that are cast. Hacking a blockchain enabled voting system would also be a difficult task, due to its tamper-proof characteristics. With concerns regarding security and fraud allayed, the process of voting could be conducted in the comfort of voters’ homes, which may contribute significantly in increasing voter turnout.