Threshold cryptography in distributed trust banking environments

This post is the first in a series on distributed banking. Over the last few months I’ve been seriously looking at the current banking landscape - the issues facing current banking institutions in playing catch-up with fintech startups eating revenue, the increasing revenue decline from current accounts and the risk-related incentive to maintain current core banking solutions. The focus of this post will be the movement of current accounts into a utility offering one possible implementation to this idea. »

Bank: Multiple accounts and merchant accounts

In this post I will detail the most recent additions to the banking project: multiple accounts per user and merchant accounts. Multiple accounts per user When I first started developing the project, I decided to do a one-to-one on users and accounts. The logic was that this would be the most simple implementation I could do that would allow me to still work on the more complex parts of the system. »

Bank: React Native MVP

Over the past few weeks I’ve been working mostly on the mobile application using React Native. The app is in a good state and I am currently getting it ready for store release. Screenshots I put a lot of effort into the design and UX of the application as this will be the first stop for any consumers. Overall I am really happy with the way it turned out. As always there are tweaks to be done, but for now a great starting point. »

Bank: Authentication update to stronger standards

I’ve been doing a lot of reading on cryptography lately. Some of my goals require a deep knowledge of encryption and how to implement successfully, so diving in now is an ideal time. One of the first updates I decided to do, in order to strengthen the banking project, was to update the password storage. I took a lead from the OWASP guidelines: Use a unique salt per password Have a sane, long minimum for password length Use an expensive cryptography function for hash calculation Argon2 At the top of the list of recommended hashing functions was Argon2. »

Distributed banking: Product vs Utility

I’ve always been a fan of the free and open web. The practically zero barrier to entry It’s the biggest reason I could get into web development, and I use free and open source software (FOSS) wherever I can. This past weekend I took a look through some of the talks from the Distributed Web Summit. Some of the greatest minds gathered to try and fix the problem of centralisation that the open web is currently facing. »