General Security Considerations for Cryptoassets Custodians
draft-vcgtf-crypto-assets-security-considerations-04

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Network Working Group                                            M. Sato
Internet-Draft                                               M. Shimaoka
Intended status: Informational                             SECOM IS Lab.
Expires: October 12, 2019                               H. Nakajima, Ed.
                                                             Mercari R4D
                                                          April 10, 2019

      General Security Considerations for Cryptoassets Custodians
          draft-vcgtf-crypto-assets-security-considerations-04

Abstract

   This document discusses the technical and operational risks of
   cryptoassets custodians and its security controls to avoid the
   unintended transactions for its customers.

Status of This Memo

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   provisions of BCP 78 and BCP 79.

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   This Internet-Draft will expire on October 12, 2019.

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   document authors.  All rights reserved.

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Sato, et al.            Expires October 12, 2019                [Page 1]
Internet-DraGeneral Security Considerations for Cryptoassets  April 2019

Table of Contents

   1.  Introduction  . . . . . . . . . . . . . . . . . . . . . . . .   3
   2.  Scope of this document  . . . . . . . . . . . . . . . . . . .   4
   3.  Conventions and Definitions . . . . . . . . . . . . . . . . .   4
   4.  Terminology . . . . . . . . . . . . . . . . . . . . . . . . .   4
   5.  Basic description of a model system of a cryptoassets
       custodian . . . . . . . . . . . . . . . . . . . . . . . . . .   5
     5.1.  General . . . . . . . . . . . . . . . . . . . . . . . . .   5
     5.2.  A basic model of cryptoassets custodians system and its
           functional components . . . . . . . . . . . . . . . . . .   5
     5.3.  The flow leading to the sending of the transaction  . . .   7
     5.4.  Types of keys that are used for signature and encryption    8
       5.4.1.  Type of keys  . . . . . . . . . . . . . . . . . . . .   8
       5.4.2.  Flow for the key generation and key usage . . . . . .   8
       5.4.3.  On the use of multiple keys . . . . . . . . . . . . .  10
       5.4.4.  On the suspension of keys . . . . . . . . . . . . . .  10
     5.5.  Characteristics of cryptoassets in blockchain and
           distributed ledger  . . . . . . . . . . . . . . . . . . .  10
       5.5.1.  About this section  . . . . . . . . . . . . . . . . .  10
       5.5.2.  Importance of signature keys  . . . . . . . . . . . .  11
       5.5.3.  Diversity of implementations  . . . . . . . . . . . .  11
       5.5.4.  Possibility of blockchain forks . . . . . . . . . . .  12
       5.5.5.  Risks for Unauthorized Transactions . . . . . . . . .  13
   6.  Risks of cryptoassets custodian . . . . . . . . . . . . . . .  14
     6.1.  About this chapter  . . . . . . . . . . . . . . . . . . .  14
     6.2.  Risks of cryptoassets custodian system  . . . . . . . . .  14
       6.2.1.  Risks related to signature keys . . . . . . . . . . .  15
       6.2.2.  Risks related to assets data  . . . . . . . . . . . .  21
       6.2.3.  Risks of suspension on system and operation . . . . .  22
     6.3.  Risks from external factors . . . . . . . . . . . . . . .  23
       6.3.1.  Risks related to the Internet, Web PKI, and users
               environment . . . . . . . . . . . . . . . . . . . . .  23
       6.3.2.  Risks related to cryptocurrency blockchain  . . . . .  24
       6.3.3.  Risks from external reputation  . . . . . . . . . . .  25
   7.  Considerations of security controls on Cryptoassets
       Custodians  . . . . . . . . . . . . . . . . . . . . . . . . .  26
     7.1.  General . . . . . . . . . . . . . . . . . . . . . . . . .  26
     7.2.  Basis for consideration about security management . . . .  27
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