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Startup to Provide Decentralized Encryption Key Management

Research offers greater privacy and identity protection.

The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded Salt Lake City-based startup Evernym a $749,000 Small Business Innovation Program (SBIR) award to develop an easy-to-use, decentralized mechanism for managing public and private encryption keys needed for the secure and scalable deployment of blockchain technologies.

Under the SBIR Phase II contract, Evernym will design and implement a decentralized key management system for blockchain technologies based on National Institute of Standards and Technology (NIST) Special Publication 800-130, titled “A Framework for Designing Key Management Systems.” The research project is being managed by the S&T Cyber Security Division’s Identity Management project.

“A better, more secure method is needed to safeguard the identity and privacy of web-users,” said William N. Bryan, acting DHS undersecretary for science and technology, in a written announcement. “Research in blockchain holds significant potential to provide a solution that will make it considerably more difficult to hack an online user’s identity.”