Blockchain solutions provider AlphaPoint has partnered with technology giant Intel on a new security solution for digital assets.
As a result of the deal, AlphaPoint will release a new virtual machine offering, called the TrustedVM, to be backed by Intel's Software Guard Extensions (SGXs). It's the latest instance in which Intel's security-focused solution has been utilized to create trusted computing environments for sensitive data, such as private keys that enable access to blockchain-based assets.
According to AlphaPoint, the hardware-backed solution can eliminate some of the privacy and security concerns that enterprise companies may have on the question of creating and exchanging digitized forms of physical assets.
Igor Telyatnikov, AlphaPoint's president and chief operating officer, said in a statement:
"With this upgraded solution, we are enabling rapid implementation of blockchain technology into production within months instead of years. Our financial services customers want the benefits of distributed ledger technology without the security and privacy limitations of existing blockchain solutions."
When reached for comment, Intel indicated that the partnership could form the basis for continued work in the area of digital assets.
"Alpha Point is focused on digitizing a variety of physical assets, which we believe will create a lot of opportunities for both Intel and Alpha Point," a spokesperson for Intel told CoinDesk.
The exchange of digital assets is an area Intel has previously looked into, even unveiling a demo marketplace during an event earlier this year. In September, Chinese internet giant Tencent also tapped Intel hardware for blockchain security applied to the Internet of Things.
Intel chip image via Shutterstock