Singapore, Taipei / 3rd September 2019 - BSOS blockchain-powered enterprise solutions will be secured with the highest standards in the industry by CYBAVO private key management technology, thanks to a new partnership agreement between CYBAVO and BSOS.
Traditionally, the collaboration between businesses involves multiple parties, providers, identities, certifications and communications. Processes are in many cases performed manually or with very little automation, resulting in a high lack of resource and time efficiency. Blockchain offers an ideal platform for business cooperation thanks to its decentralized and immutable nature, which makes identifying, tracking and auditing all involved parties a much more efficient and error-free process. BSOS is leveraging private blockchain infrastructure, combined with a reputation-based incentive mechanism to design enterprise-level solutions solving the major problems in global supply chain finance and management.
Blockchain is usually considered a secure technology. Blockchain security is enforced by distributed ledger and consensus mechanisms, as well as cryptographic techniques to secure the integrity of the records. However, when it comes to confidential enterprise-class data, blockchain security is in strong need of upgrades of traditional private key management that, before in the cryptographic structure, signing parties are responsible for securing and managing the private keys. A new structured solution of private key protection is essential for the integrity and viability of the system in the larger adoption of enterprise blockchain.
CYBAVO is a private key management platform provider focusing in protecting blockchain applications. Starting from secure digital asset vault and management platform, CYBAVO’s team cybersecurity expertise is applied to blockchain private key management. The company is already providing a private key and digital asset management platform to more than a dozen companies, including top two cryptocurrency exchanges in Taiwan.
With the signature of this agreement, BSOS will provide its customers with fully secure blockchain solutions for enterprises, protected by CYBAVO technology.
Paul Fan, CEO of CYBAVO stated about the partnership: “Security is a key element for the traditional industry to entrust blockchain applications to solve problems. With BSOS excellent solutions for Supply Chain Finance and our solid private key management expertise we expect to spur adoption of blockchain technology for supply chain.”
“Over the past year BSOS has developed an original technology to accelerate the adoption of enterprise blockchain.” said Daniel Huang, CEO of BSOS. “We’re delighted to strategically partner with CYBAVO as we continue to strengthen our blockchain solution and expand business globally. CYBAVO will bring solidity in blockchain security for the BSOS ecosystem.
This partnership will help consolidating blockchain solutions as the way forward to solve the traditional supply chain challenges.
About CYBAVO Pte. Ltd.
CYBAVO Pte. Ltd. provides secure private key storage and management enterprise solutions for blockchain, including usable cryptocurrency custody platform and services for enterprise and financial institutions, such as cryptocurrency exchanges, digital asset managers or custodians.
The company was founded in 2018 by a team of experts from cybersecurity, blockchain and digital currency industries. The company has developers and researchers with solid experience in the security and cryptocurrency fields.
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BSOS, Blockchain for Supply chain Operation System, was founded in 2018 by core team from Silicon Valley and Taiwan. BSOS is dedicated to solving problems such as information silo, lack of trust, and inefficiency by introducing the revolutionary blockchain technology to enterprises.
With BSOS original technology — BridgeX, a PaaS tech delivering the middleware to connect universal API in applications and major blockchains, BSOS is working with leading banks and companies to implement blockchain into their businesses, providing the end to end solution in the sector of supply chain finance, and InsurTech.
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