DevDay:Moving CorDapps from Pilot to Production, Dr. Duncan Wong
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Duncan Wong discusses moving CorDapp blockchain applications from pilots to production. Key aspects addressed include high availability, hybrid cloud/on-premises deployment, data encryption, connectivity, key management, scalability, and monitoring. CryptoBLK has implemented these for VoltronOne and VoltronX trade finance platforms. Wong also discusses providing privacy through linkable ring signatures combined with Corda observer nodes for "accountable privacy." This allows transactions to be private yet auditable by authorities when needed.
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DevDay:Moving CorDapps from Pilot to Production, Dr. Duncan Wong
- 1. Founder, CEO, Cryptographer 12 September 2018Duncan Wong Moving CorDapp from Pilot to Production R3 CordaCon 2018, London
- 2. © 2018 CryptoBLK Limited Proof-of-concept Trials, Pilots, Productions Graphic Design Delaware Secure recording and tracking of documents Faster search, increase confidence/transparency Sweden Smart Contract for Land Registry Minimize risks, regulate workflow Australia Global real estate listing services No fees, faster transactions Smart Tenancy Contracts for landlords Secure bond management & reduce expenses Sale of government bonds Bond market facilitation California Token for real estate transactions Cross-border payments for investors Honduras Secure recording and tracking of land titles Reduce fraud & secure mortgages, mineral rights Georgia Land titling on Blockchain Real-time audit & reduce costs Japan Land registry data on Blockchain Data cross-referencing, improve efficiency Singapore Tokenize transactions by real estate-backed cryptocurrency Improve liquidity & transparency Project Ubin Faster interbank payment Trade Finance Easier document exchange, double finance prevention Hong Kong Real-time property valuation Mortgage alerts & records Trade Finance Improved efficiency, double financing prevention London Commercial property investment through cryptocurrency Lower barriers to entry Welfare Payments System Enhance money traceability Dubai Real estate contracts on Blockchain Verify accuracy of data Ghana Land surveying and title deeds Free up locked capital for infrastructure development Russia Use of Blockchain on Unified State Register of Real Estate Increase transaction confidence & security of property rights Canada Project Jasper Faster and easier interbank payment Estonia X-Road implementation Faster company registration China Digital currency Bank payment facilitation Ukraine Election platform Prevent fraudulent vote E-money Faster interbank settlement
- 3. Decision Tree source: IEEE Spectrum © 2018 CryptoBLK Limited
- 4. © 2018 CryptoBLK Limited Use case:Trade Finance
- 5. © 2018 CryptoBLK Limited Trade Finance • USD 16 trillion world trade in 2016 • USD 36 billion world trade finance revenue in 2016 • 4.7% annual revenue growth to USD 44 billion in 2020 Sources: https://www.wto.org/english/res_e/statis_e/w ts2017_e/wts2017_e.pdf ICC Global Survey on Trade Finance 2017, ©International Chamber of Commerce (ICC), Pg 56, https://iccwbo.org/publication/2017- rethinkingtrade-finance/
- 6. © 2018 CryptoBLK Limited Trade Finance • 55% LC or SBLC • 17% Open account / supply chain finance • CryptoBLK LC and SBLC projects: HSBC VoltronOne and R3 Consortium (12 banks) VoltronX • CryptoBLK open account / supply chain finance project: ATLAS Source: http://store.iccwbo.org/content/uploaded/pdf/ICC_Global_Trade_and_Finance_Survey_2016.pdf
- 7. © 2018 CryptoBLK Limited Voltron – a Letter-of-Credit Trade Finance DLT Platform 2016 R3 and 12 banks initiated the Voltron Early 2017 Second Voltron prototype completed 2017 Sep HSBC / CryptoBLK VoltronOne Pilot development began 2018 May HSBC / ING / Cargill completed their first live pilot run on VoltronOne
- 8. © 2018 CryptoBLK Limited May 2018, HSBC / ING / Cargill completed their first live pilot run
- 9. 2019 Pilot to Production © 2018 CryptoBLK Limited source: CB Insights Based onVoltronOne, and the R3 Consortium (12 banks) will bring Voltron from Pilot to Production.
- 10. Some crucial technologies that bring CorDapp from pilot to production. © 2018 CryptoBLK Limited
- 11. 1. DLT High Availability (HA) © 2018 CryptoBLK Limited • A logical Corda node should continue to function in the event of any component failure or hardware restart • Continuity of data read/write to the ledger throughout the disruption • Cordapp upgrade in a live network
- 12. 2. Hybrid Deployment – Cloud and On-premises © 2018 CryptoBLK Limited Load Balancer Web Services Web Services Corda Node Corda Node Relational Database Services Transaction Handler Notary Nodes Doorman & CA Service, Network Map Bank A Corda Site SSO, e.g. AD Bank A IT System Firewall Firewall (optional) Load Balancer Web Services Web Services Corda Node Corda Node Relational Database Services Transaction Handler Corporate 1 Corda Site Firewall Consortium of Banks, Corporates, R3, CryptoBLK User Access User Access R3, CryptoBLK
- 13. © 2018 CryptoBLK Limited 3. Cybersecurity – Firewall, TLS, Data-at-Rest Encryption
- 14. © 2018 CryptoBLK Limited 3. Cybersecurity – Firewall, TLS, Data-at-Rest Encryption • MS SQL Always Encrypt • Column based database encryption (use one key for the entire column)
- 15. © 2018 CryptoBLK Limited 4. Connectivity, API Gateways
- 16. 5. Certificate Revocation and Key Renewal © 2018 CryptoBLK Limited • Certificate Revocation List (CRL) • Passive vs. Active • Passive: each DLT node checks the CRL at Doorman • Active: Doorman broadcasts and notifies all nodes for any new CRL entry. • Timestamp based data migration from a revoked node to a new node (anything before the incident time will be migrated to a new node but anything after will be discarded since those are considered being tempered).
- 17. 6. Scalability: multiple nodes vs. multiple customers © 2018 CryptoBLK Limited One DLT node per customer vs. One DLT node, multiple customers vs. OneVM, multiple DLT nodes
- 18. © 2018 CryptoBLK Limited 7. DLT Health Monitoring, CryptoBLK DLT Cluster Monitoring (CB-DCMon) • Single dashboard monitoring multiple nodes running multiple CorDapps. • Performance monitoring – CPU/memory load, JVM metrics, Corda flow rate, exceptions and alerts, etc. • Alert triggering (system failure, disk full, failover, etc.) • Projects using CB-DCMon 1. VoltronOne (HSBC) 2. VoltronX 3. Topaz 4. Midas (motor insurance) 5. Atlas (CryptoBLK open- account trade finance platform)
- 19. © 2018 CryptoBLK Limited 1. High Availability 2. Hybrid Deployment 3. Data-at-Rest Encryption 4. Connectivity 5. Key Revocation and Renewal 6. Scalability 7. DLT Health Monitoring, CryptoBLK DLT Cluster Monitoring (CB-DCMon) CryptoBLK addresses these crucial aspects at HSBCVoltronOne and R3/12-bankVoltronX. 8. Interledger Connection, CA handling, crypto algo compatibility, standardization
- 20. © 2018 CryptoBLK Limited Topaz: a property valuation system built jointly by CryptoBLK and surveying firm Melon PropTech. www.propblk.com 1. High Availability 2. Hybrid Deployment 3. Data-at-Rest Encryption 4. Connectivity 5. Key Revocation and Renewal 6. Scalability 7. DLT Health Monitoring, CryptoBLK DLT Cluster Monitoring (CB-DCMon)
- 21. “Topaz isa Corda-based PropTechPlatform for the entire propertyvaluation process.Topaz allowsbanks and surveyorsto communicate via ‘burn-after-read’text messenger,automated valuation report drafting and mortgagealerts.” marketplace.r3.com
- 22. Pilot → Production © 2018 CryptoBLK Limited → Beyond
- 23. Accountable Privacy © 2018 CryptoBLK Limited Allow private transactions to be audited.
- 24. © 2018 CryptoBLK Limited Privacy on Blockchain “What I buy in a supermarket may not be a secret, but do I necessarily want everyone to know? Probably not.” • Privacy on our transaction records is indeed a very basic need for the technology to gain wide spread adoptions. • Privacy prevents trade finance transaction volume from being traced or analyzed. • Privacy is a must for central bank cryptocurrency or tokenization. • We don’t want people to know how many tokens we have in our wallets.
- 25. © 2018 CryptoBLK Limited Full Privacy means • Sender and receiver addresses should be untraceable and unlinkable • Transaction contents should be protected even against notary nodes
- 26. © 2018 CryptoBLK Limited Full Privacy Alone could be Undesirable Not Auditable or Accountable
- 27. © 2018 CryptoBLK Limited Corda observer nodes provide accountability. Accountable Privacy means • untraceable and unlinkable to peers and the public • traceable and linkable to authorities and regulatory bodies
- 28. © 2018 CryptoBLK Limited Can we add Full Privacy onto Corda’s Accountability so to achieve Accountable Privacy?
- 29. © 2018 CryptoBLK Limited Introducing Linkable Ring Signature Message SKreal Signature Generation Signature PKrealMessage Signature Verification Yes / No
- 30. © 2018 CryptoBLK Limited Introducing Linkable Ring Signature Message Signature Generation Signature Message Signature Verification Yes / No SKreal PK1 PKn PK3 PKi PK2 PK1 PKn PK3 PKi PK2 • Anyone identified by PK1, PK2, …, PKn can be the real signer and the verifier cannot tell who the real signer is. • But if the same message is signed twice using SKreal, everybody can tell PKreal is the signer. • Prevent double spending PKreal
- 31. © 2018 CryptoBLK Limited Linkable Ring Signature is Not New 2004 2013 2018 abelianfoundation.org
- 32. © 2018 CryptoBLK Limited Accountable Privacy Linkable Ring Signature + Corda Observer Node
- 33. © 2018 CryptoBLK Limited Pilot → Production → Beyond 1. High Availability 2. Hybrid Deployment 3. Data-at-Rest Encryption 4. Connectivity 5. Key Revocation and Renewal 6. Scalability 7. DLT Health Monitoring, CryptoBLK DLT Cluster Monitoring (CB-DCMon) CryptoBLK supports on Corda Accountable Privacy • Linkable ring signature • Corda observer node
- 34. Contact: Duncan Wong, Ph.D. CryptoBLK Limited Founder, CEO, Cryptographer Tel and Whatsapp: +852 6711 8504 Email: duncanwong@cryptoblk.io Thank You © 2018 CryptoBLK Limited Member of HKSTP Incu-Tech Program R3 Technology Partner AWS Activate Supported Microsoft BizSpark Partnership HSBC Blockchain Delivery Partner Member of HKSTP Incu-Tech Program www.cryptoblk.io