TECHNICAL ASSESSMENT OF A PROPRIETARY BLOCKCHAIN TECHNOLOGY

A consortium of market players (banks, institutions, investor services, fund managers) wanted to assess the resilience and scalability of a proprietary (non-open-source code) and private (hosted on the consortium's VPN) distributed registry technology (Blockchain type) at the renewal of its user license.

This review integrated a audit code, volume tests and the writing of a technical maintenance workbook. The themes analyzed include transactional read and write access permissioning, the mathematical resilience of the consensus and distribution model, the application of cryptography to chaining standards (immutability, anonymity, confidentiality) and to the payload, protocols for node synchronization and replication, persistence of exchanges (keys, transactions) and data (blocks, hashes), extension to binary contracts (smart contracts) and Ricardian contracts, and finally interoperability with other private and public blockchains and other types of distributed registers (DLTs).

Its results contributed to contract and price negotiations with the technology provider, to the adaptation of the medium-term development plan for distributed registry applications, and to the resizing of the server farm hosting the complete architecture.