Cybersecurity Research Lab receives funding for blockchain technology research
The Ted Rogers School’s Cybersecurity Research Lab (CRL) is tapping the resources and expertise of Ripple, a leading Silicon Valley-based provider of enterprise blockchain solutions for payments, as part of the company’s University Blockchain Research Initiative (external link) (UBRI).
UBRI partners with top universities around the world to support academic research, technical development and innovation in blockchain, cryptocurrency and digital payments. The CRL, led by Dr. Atefeh Mashatan, conducts cutting-edge information security research, and blockchain technology is one of its areas of expertise. As part of the partnership, the CRL will establish a Ripple Blockchain Collaboratory designed to advance this innovation.
The CRL is also designing Mosaïque, a digital wallet and platform for developing decentralized systems to provide the infrastructure for building applications that create, share and update business documents between organizations and individuals. Mosaïque is currently being used in conjunction with the Equitable Smart Unified Real Estate (eSURe) (external link) system. This application can support a variety of real estate processes providing transparency and efficiency.
“We are thrilled and honoured to be working with Ripple through the UBRI ecosystem. The integration of our Mosaïque wallet, serving as the underlying self-sovereign digital identity, and Ripple will result in a complete and harmonious package achieving the promised transparency and efficiency of blockchain technology. This combination has the potential to revolutionize many use cases such as real estate, supply chain, insurance claims and more,” says Dr. Mashatan, director of the CRL and professor of Information Technology Management.
Specifically, researchers at the CRL will study the use of blockchain technology to reduce fraud in the real estate marketplace, and integrate identity, payment rails and mobile digital wallets into the (eSURe) (external link) system. eSURe decentralizes cross-company workflows to reduce costs and opportunities for fraud.
“Our partnership with Ryerson will help further accelerate the breakthrough innovations in blockchain and digital payments already taking place within the greater Toronto area,” says Ken Weber, Head of Social Impact at Ripple. “Cybersecurity, specifically the development of reliable digital identities, will play a prominent role in blockchain as the industry continues to mature. Our commitment is to provide the tools and resources needed for academia to lead the way in these efforts. We are excited to support the progress of the Cybersecurity Research Lab’s digital wallet, and we look forward to seeing what innovations they produce now and well into the future.”
The new partnership with UBRI will also help establish a program that will prepare the next generation of cybersecurity leaders to develop and apply cutting-edge technologies and business practices, now and in the future, at the CRL.
