Response
Two response posts substantive. A substantive post will do at least TWO of the following:
Ask an interesting, thoughtful question pertaining to the topic
Answer a question (in detail) posted by another student or the instructor
Provide extensive additional information on the topic
Explain, define, or analyze the topic in detail
Share an applicable personal experience
Provide an outside source (for example, an article from the UC Library) that applies to the topic, along with additional information about the topic or the source (please cite properly in APA)
Make an argument concerning the topic.
Discussion 1:
Tokenization
Comparison of Secure Multi-Party Computation, Open Asset Protocol, and Policy-Backed Token.
It is a matter of the fact that data analysis has become crucial and important in most businesses today. Most of the data stored in business organizations are confidential and private. It should, therefore, be shared with the relevant persons only. Different techniques allow secure sharing of data and information within organizations. Data can only be shared effectively if the persons involved are trustworthy. In the current society, people are making the use of non-currency assets in business transactions, which is made possible by data analysis. This paper seeks to compare and contrast Secure Multi-Party Computation, Open Asset Protocol, and Policy-Backed Token (Gaddam, Aissi & Nagasundaram, 2018).
Secure Multi-Party Computation can simply be defined as a toolbox used in cryptographic nature techniques that make it possible for different parties to have a joint computation of data in a manner as if they are sharing a database. In this, all the parties know the computation of data, and inputs are kept private. The security of the data is assured by cryptography, where it helps prevent any issue from attacking the participants. This helps all the party sets make interactions with a computing join function, which in turn helps to safeguard information from being revealed to the outsiders.
On the other hand, policy baked token is mostly used in the implementation of the OAP, especially in industries that deal with insurance. Products used in airline insurance make use of this technique.
References
Gaddam, A., Aissi, S., & Nagasundaram, S. (2018).U.S. Patent No. 9,978,094. Washington, DC:
U.S. Patent and Trademark Office.
Narayan, P. L., Powell, G., Sheets, J., Tait, P., & Carpenter, A. (2019).U.S. Patent No.
10,496,986. Washington, DC: U.S. Patent and Trademark Office.
Discussion 2:
Hello Friends,
Blockchain technology has allowed secure development of transactions that allow organizations to conduct their transactions in a secure manner and allow transparent distributed ledger management systems efficiently that allows the development of cryptographic solutions that can provide better security of information in transit and in storage. The efficient use of blockchain technology can be seen in several applications to implement secure ways of conducting business solutions effectively.
Secure Multiparty Computation (SMPC) allows the development of applications for distributed ledger management with anonymized transactions to be conducted with several nodes responsible to store complete information of a record to be distributed into several nodes and no single node will hold complete information that can be extracted through an attack. The nodes establish together the sequence of the information for complete information to be completely viewed. This method is used to secure the information in a distributed mechanism (Rodriguez, 2018).
Policy-Based Tokens (PBT) are ways of organizing the information in a secure way by developing tokens for authorization for data access from several nodes related to the same information and that develops authorization and authentication of the information access request, The nodes define the authorization to view the information based on the user privileges and develop secure ledger development activities to be carried out. This is used for the authorization and validity of the user to develop secure applicability (Poptamas, 2018).
Tokenization is the way for the creator of the information the ability to transfer the asset to another user and tracking of the information can be conducted efficiently with traceability. It allows accurate information collection and identify all the changes in ownership to be identified. It allows several organizations to develop secure commercial activities to be conducted digitally with accurate traceability and faster processing speed to be implemented with traceability created (Hill, 2019).
References:
Hill, E. (2019, February 15). What is an Asset-Backed Token? A Complete Guide to Security Token Assets. Retrieved from medium.com: https://medium.com/ico-launch-malta/what-is-an-asset-backed-token-a-complete-guide-to-security-token-assets-f7a0f111d443
Poptamas, V. (2018, October 23).ZhongAn Technology published a white paper on The PBT: A Novel Policy-Backed-Token That Built on Blockchain-Based Asset Protocol. Retrieved from Picante.today: https://picante.today/latest-news/2018/10/23/7550/zhongan-technology-published-a-white-paper-on-the-pbt-a-novel-policy-backed-token-that-built-on-blockchain-based-asset-protocol/
Rodriguez, J. (2018, August 07).Security Tokens 2.0: Four Protocols that can Power the Next Wave of Tokenized Securities. Retrieved from hackernoon.com: https://hackernoon.com/security-tokens-2-0-four-protocols-that-can-power-the-next-wave-of-tokenized-securities-92e9eda8887f
