Switzerland’s The Crypto Valley Association (CVA) Cybersecurity Working Group, has published its Trusted Key Ceremony Guidelines in order to improve awareness of the importance of protecting digital assets in a safe and secure way. The new guidelines are designed to set best practices for key ceremonies and broaden the accessibility of crypto assets.
Commenting on the announcement, Markus Perdrizat, Chair of Cybersecurity Working Group at CVA and Head of Blockchain Risk Assurance at PwC Switzerland said:
“With more and more financial assets locked up in cryptocurrencies, the need for a set of best practice standards regarding key ceremonies for cryptocurrencies has never been more pronounced. Ultimately, the security of financial assets begins with the key ceremony – when the cryptographic secrets are created. From that point forward, the highest standards of security must be upheld. To this end, we are delighted to officially unveil our new guidelines to the world.”
“Traditionally there have been many ways to create private keys, and up until now, there has been no clear set of standards or guidelines. The siloed approach generally adopted by practitioners, opens up many potential attack vectors that undermine the security of assets.”
“By leveraging the deep insights and ceremonial acumen of our Cybersecurity Working Group, we have collated what we consider to be the best practices for new entrants and experienced practitioners in the space to create safe and secure key ceremonies, while also providing a framework to improve existing processes. We look forward to discussing the content of this new publication in more detail during our online event and encourage people to attend,” concluded Perdrizat.
The guidelines, designed to showcase best practices for safe and secure ‘key ceremonies’, will be officially unveiled during the ‘Demystifying Key Ceremonies’ free online event presented by the CVA’s Cybersecurity Working Group, taking place tomorrow, Tuesday, July 7th at 17:00 CET.
With contributors including security experts from digital asset custody technology providers such as Taurus Group and Ledger Vault, auditing firms such as PwC, and leading blockchain organizations and financial institutions such as SEBA Bank, the event will provide a venue for the exploration of best practices that have defined the Crypto Valley’s emergence as a leading cryptocurrency and blockchain hub. The guidelines have been informed by the extensive experience of Working Group Members pertaining to the design, operation, and reviewing of key ceremonies for regulated institutional firms.
The mission of CVA’s Cybersecurity Working Group is to define and drive the adoption of security standards and best practices for blockchain projects, to provide a forum for Swiss-based blockchain security product and service companies, and to promote their adoption on the global market.