IBM has introduced a new technology called “IBM Hyper Protect Offline Signing Orchestrator” (OSO), designed to manage digital assets in cold storage. This innovation arises in response to the risks associated with manual procedures and aims to keep assets at a safe distance from internet connections.
IBM’s OSO technology provides an additional layer of security for high-value transactions. It integrates disconnected network operations, time-based security, and electronic transaction approval by multiple stakeholders. This combination of measures seeks to mitigate the inherent risks of cold storage, where human interactions can lead to threats such as malicious insiders, forced attacks, or operational errors.
IBM’s application in key management and its suite of confidential computing technologies has increasingly focused on digital assets and cryptocurrencies in recent years. This shift reflects the need to address vulnerabilities and risks in the digital finance space, where the security and integrity of assets are fundamental as they are constantly under attack.
IBM Colaborates with Ripple
IBM’s strategic collaboration with Metaco, the digital asset custody company owned by Ripple, highlights the adoption of OSO technology in the sector. Metaco praised OSO’s unique ability to facilitate cold storage, especially in regulated markets such as Singapore, Hong Kong, and Japan, where regulations increasingly focus on cold storage requirements.
OSO technology not only aims to address the limitations of cold storage but also provides a solution to common operational challenges. The ability to provide additional security through electronic approvals by multiple stakeholders and disconnected network operations may set the standard for higher-level asset management.
IBM’s latest advancement represents a significant step towards improving security in the management of digital assets. It is essential to address the challenges associated with cold storage, protect assets, and promote more robust security standards in the community and various ecosystems. As a leading tech company, IBM is always looking ahead to the future.
