IBM has introduced a new solution called IBM Hyper Protect Offline Signing Orchestrator (OSO) to enhance the security and efficiency of digital asset transactions, including cryptocurrencies. This offering aims to address vulnerabilities in current cold storage systems that store digital assets offline. Cold storage solutions often involve manual processes to authorize transactions, which can increase costs and the risk of asset loss.
IBM’s OSO technology provides automated security layers to enable high-value crypto transactions without exposing assets to potential theft. It facilitates “air-gapped” transactions, preventing direct communication between authorization and transaction components. OSO acts as an intermediary broker, utilizing policy engines and time-based controls to facilitate verifications, eliminating the need for constant human oversight.
Metaco, a Swiss digital asset custodian, will be the first to utilize OSO through its Harmonize platform, which is used by banks to hold cryptocurrencies. Integration with OSO will enhance Harmonize’s cold storage system, offering customers a more seamless and secure solution.
IBM’s OSO strengthens its position in providing advanced tools for risk mitigation and regulatory compliance to institutional crypto investors. The solution is expected to be commercially available in 2024.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | None |
| Companies | Metaco, IBM |
| Currencies | None |
| Securities | None |
