Unlike the public blockchains used for bitcoin solutions, many organisations are looking to utilise blockchains where there is clearly defined governance over who has access to the blockchain and in what role, examples include smart contracts and supply chain management where it is important to know not just that the blockchain itself can be verified, but that the data within it was placed there by an known and trusted entity.
The solution to developing a permissioned blockchain
The solution is known as a permissioned blockchain, where limits are placed on both parties that interact with the blockchain from merely reading information to creating new blocks. An access control layer is built into the solution, with each party (e.g. blockchain validator or blockchain account) being granted permissions by a blockchain authority.
Entities interacting with the blockchain are identified by PKI certificates, with the authority issuing credentials to its members ensuring that each blockchain transaction can be validated by a root of trust.
Designing a permissioned blockchain must include security from day one, the MyID platform offers a highly functional and scalable solution to issuing PKI based digital identities to blockchain entities using either identified or anonymous certificates.