ISITC TC 2 2018 B 018 Baltim imore re Conf nfere renc nce - - PowerPoint PPT Presentation

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Sep 14, 2023 98 likes •222 views

ISITC TC 2 2018 B 018 Baltim imore re Conf nfere renc nce Edward ard S Scheid idt, I ISO Conve nveno nor Technical Standard for Digital Currencies Security September, 2018 Today, many use digital platforms for payments and

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ISITC TC 2 2018 B 018 Baltim imore re Conf nfere renc nce Edward ard S Scheid idt, I ISO Conve nveno nor Technical Standard for Digital Currencies Security September, 2018

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Today, many use digital platforms for payments and transactions. Standards

ffer an international compromise and

acceptance. As the International Standards Organization (ISO) advance digital use cases with currencies, security becomes the differentiation among the world bodies. Security technologies, policies, and innovations are needed to ensure Trust.

September, 2018 2 ANSI x9/ISO/ITU

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Goal to Leverage Security Into Mix of Digital Currencies Today’s Currency: The Dollar Bill Migration of Dollar to Digital: for Accounting & for Digital Applications On Today’s Scene in US & other Countries: Cryptocurrencies On the scene in International Financial Communities: Move to Fiat Digital Currencies

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 Regulation  Audit  Risk  Privacy  Liability  Confidentiality

September, 2018 4

 Payments  Transactions  Contracts  Trusts  Threats & Fraud  Wallet  Cloud  Mobile  Retail

The Business of Security Mapping Security Across Digital Financial Services

ANSI x9/ISO/ITU

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 US Banking Financial standards: ANSI x9  International Banking Financial standards:

ISO & ITU

 Many specialized standard organizations:

e.g. IEEE, IETF, NIST

 Other supporting financial organizations:

e.g. ISITF

5 September, 2018 ANSI x9/ISO/ITU

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 Digital Currencies with Security can offer:

Utilization of existing financial ecosystem
Potentially faster transaction settlements
Reduced instances of tax avoidance
Advent of real time digital security countermeasures
Confidentiality with controlled data access

6 September, 2018 ANSI x9/ISO/ITU

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 Digital Currency Exemplars  Existing Security Technologies  FIN Ecosystem Security Components  Advancing Financial Security with Innovation  Cash in a Digital Environment  Role of Regulation  Legal Boundaries  Including Digital Currencies with Existing Currencies

7 September, 2018 ANSI x9/ISO/ITU

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Priv rivate Ban ank Note

Bifurcat cate Un Unify Central al Ban ank Curre rrency

Gold

Bifur urca cate

Priv rivate e-mon money Un Unify Buildin lding o

Securit rity Criteria ria

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eCurrency Mint Ltd.

2018 Security Criteria Security of Wallets Digital Currencies Exchanges Security Keys Security for Authenticity Security for Traceability

TC68/SC2/Digital Currencies Security

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Security for Financial Ecosystems

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Goal: Accommodate various multiple financial digital architectures



Goal: Introduction of Envelope Security utilizing digital interfaces across platforms



Goal: Minimize impact on existing infrastructures



Goal: Addition of security for digital currencies of all types



Goal: A common digital framework for domestic and cross border usages

9 September, 2018 ANSI x9/ISO/ITU

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 Build on knowledge from security experts and from

in-place practices

 Take advantage of existing financial standards for

consensus

 Add innovation for the future  Move from documentation to a Proof-of-Concept  Validate the security with a working model

September, 2018 10 ANSI x9/ISO/ITU

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 Understanding of Digital Currencies is evolving  International community contributing  Moving to a digital currency format: a complex

decision

 Trust: A primary emphasis  ISO to broaden discussion to achieve international

consensus

September, 2018 11 ANSI x9/ISO/ITU