Symbiont and Gemalto partner to provide blockchain security services

Crazy Review : Smart Securities is a very interesting concept. Through blockchain technology, it is clear that securities transactions on the blockchain can be made safer and more transparent, and can acquire very complex properties. Gemalto (Euronext stock code: NL0000400653 GTO) was established in June 2006 by the merger of Axalto and Gemplus, the two largest smart card manufacturers in the world. It is a global leader in digital security, with revenue of 2.5 billion euros in 2014, 116 offices, research centers and service centers in 46 countries, and a total of 14,000 employees.

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Digital security giant Gemalto and Symbiont, a smart securities platform developer, have announced that they have begun collaborating to develop technology to ensure that financial services institutions can safely run smart contracts and other blockchain-based transactions. Through their collaboration, Symbiont will use Gemalto's hardware security module security network (HSMs) to protect identity information and transactions on the blockchain in order to prevent theft, counterfeiting and other illegal activities.

The Symbiont platform uses blockchain technology, and a wide range of institutions and investors can issue, manage and trade various financial instruments on this platform. Compared with traditional methods, these "smart securities" are self-enforcing, self-executing contracts, which greatly reduce costs and improve efficiency. Because Symbiont integrates hardware security module security networks (HSMs), regulators have more trust in crypto trading institutions and allow them to operate transactions.

Mark Yakabuski, Vice President of Strategic Business Development at Gemalto, said:

“The integration of Gemalto’s market-leading hardware security module (HSM) technology with Symbiont’s blockchain smart contracts is not only an exciting proposition, but also a step towards secure blockchain-based transactions. We look forward to helping our customers gain greater trust in the emerging smart contracts.”

Louis Stone, Managing Director of Symboint, said:

Once securities are issued based on the Symbiont Smart Securities Platform ledger, the ledger will work automatically, and no manual input will be required. Gemalto's HSM security network will be responsible for the security of these transactions and identities, including key protection for smart contract transactions, providing encryption, decryption, authentication and digital signature services.

Gemalto's HSMs Security Network focuses on cryptographic processors, specifically designed to protect the lifecycle of keys, which are tools used to ensure transaction, identity and application security. HSMs Security Network is a trust anchor that can securely manage, process and store keys. These operations are all in a hard, tamper-proof device, so HSMs can provide a wider ecosystem for the entire technology partner.

Symbiont was founded in early 2015. The company's founders previously founded Counterparty, which is based on the Bitcoin protocol, Robbie Dermody (President), Evan Wagner and Adam Krellenstein (CTO), and Mark Smith, founder of MathMoney (fx). In August 2015, Symbiont became the first company to issue securities on Bitcoin and the Bitcoin blockchain.